Real Estate Bailout
I’ve posted about the 2010 Homebuyer Tax Credits in the U.S. before, but if you haven’t caught it before and are thinking of purchasing a home this year, the time to act is now! Both new homeowners and those who’ve lived in a home for 5 of the past 8 years and are ready to move on or upgrade can qualify for sizable federal tax credits. New homeowners can qualify for up to $8,000 in tax credit, and established homeowners ready to move on can qualify for up to $6,500 in tax credit.
There’s an online video and easy to read chart that you can survey in order to get a better idea about the program when you click here to read about the real estate bailout.
The reason that you need to move on this quickly if you qualify and live in the U.S. is that this program has been extended and expanded, but it’s not known if there’ll be any future extensions, so advisors are recommending that a written, binding contract is in place by April 30, 2010 (close by June 30, 2010).
Of course, that doesn’t leave much time, but since Spring is typically a busy time for moving real estate the time is ripe to take advantage of this offer.