Charleston area homes, Buyers Broker, BuyersAgent, Josephine Traina Gleason

Helpful Info > $8000 TAX CREDIT

	NAR Issue Brief Homebuyer Tax Credit Changes National Association of REALTORS® Government Affairs Division 500 New Jersey Avenue, NW, Washington DC, 20001 Congress has extended and expanded the homebuyer tax credit. The modifications in the column labeled December 1 April 30, 2010 become effective when President Obama signs the bill. All changes made to the current credit become effective on that date, as well. FEATURE Jan 1 November 30, 2009 Rules as enacted February 2009 December 1 April 30, 2010 Rules as enacted November 2009 Firsttime Buyer Amount of Credit $8000 ($4000 married filing separate) $8000 ($4000 married filing separate) Firsttime Buyer Definition for Eligibility May not have had an interest in a principal residence for 3 years prior to purchase Same Current Homeowner Amount of Credit No Provision $6500 ($3250 married filing separate) Effective Date Current Owner No Provision Date of Enactment Current Homeowner Definition for Eligibility No Provision Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years Termination of Credit Purchases after November 30, 2009. (Becomes April 30, 2010 on Date of Enactment.) Purchases after April 30, 2010 Binding Contract Rule None So long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close. Income Limits (Note: Increased income limits are effective as of date of enactment of bill) $75,000 single $150,000 married Additional $20,000 phase out $125,000 single $225,000 married Additional $20,000 phase out Limitation on Cost of Purchased Home None $800,000 Effective Date of Enactment Purchase by a Dependent No Provision Ineligible Effective Date of Enactment Antifraud Rule None Purchaser must attach documentation of purchase to tax return


	Federal Energy Tax Credits - The Federal government also provides a significant list of Energy Tax Credits for the purchase of energy efficient products including windows & doors, HVAC, water heaters, hybrids cars and more. Sellers or buyers may now invest in items that provide both tax relief and long-term monthly savings as energy prices are expected to rise.

Prices Are At Or Near Bottom!
Great Selection Of Properties Available!
Mortgage Rates Are At Historic Lows!
Future Value Trends Are Very Positive!

The window of opportunity is officially open - don't miss it! Markets go through cycles and these conditions will not last. There are some fabulous opportunities with new construction short sales, bank-owned properties, company-owned properties, aggressively priced resales and select short sale opportunities.

Please Contact Me Today - You Will Thank Me Tomorrow!

Josephine@danielravenelsir.com

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