Dear Friends,
Today as I was sitting at my desk and I realized that most home buyers and sellers who are aware of the $8,000 tax credit and not aware of the “Trade Up” tax credit of $6,500. The Washington post breaks it down best:
-[Y]you’ve owned and resided in your current home for a consecutive five out of the past eight years, and your adjusted household income doesn't exceed $125,000 if you file taxes singly, $225,000 if you are married filing jointly.-Whatever you intend to purchase, the home cannot cost more than $800,000.-The replacement home must become your main residence. There is no requirement in the legislation that you sell your current home.-Like the first-time-buyer credit, the $6,500 version permits a broad range of dwelling types for your purchase. These include newly constructed or existing single-family homes, condominiums, manufactured or mobile homes, and boats that function as your principal residence.-Home buyers who go to closing between Nov. 6 and Dec. 31 can claim the $6,500 credit on their 2009 federal tax returns or amend their 2008 returns.
This is a great opportunity and I am passionate about educating all homeowners the best way I can and inform them of all the ways they can take advantage of this awesome never before seen market.If you have any questions at any time don’t hesitate to reach out to me at 602-492-6221 24/7.
Today as I was sitting at my desk and I realized that most home buyers and sellers who are aware of the $8,000 tax credit and not aware of the “Trade Up” tax credit of $6,500. The Washington post breaks it down best:
-[Y]you’ve owned and resided in your current home for a consecutive five out of the past eight years, and your adjusted household income doesn't exceed $125,000 if you file taxes singly, $225,000 if you are married filing jointly.-Whatever you intend to purchase, the home cannot cost more than $800,000.-The replacement home must become your main residence. There is no requirement in the legislation that you sell your current home.-Like the first-time-buyer credit, the $6,500 version permits a broad range of dwelling types for your purchase. These include newly constructed or existing single-family homes, condominiums, manufactured or mobile homes, and boats that function as your principal residence.-Home buyers who go to closing between Nov. 6 and Dec. 31 can claim the $6,500 credit on their 2009 federal tax returns or amend their 2008 returns.
This is a great opportunity and I am passionate about educating all homeowners the best way I can and inform them of all the ways they can take advantage of this awesome never before seen market.If you have any questions at any time don’t hesitate to reach out to me at 602-492-6221 24/7.
via Ping.fm