2010 Tax Credit

The 2010 Extended Tax Credit

Today's home buyer has the opportunity to invest in their future by taking advantage of the Extended Tax Credit for first-time home

buyers.  What a great opportunity to invest in your future and build financial security for you and your family. 

Whether you are interested in buying a pre-owned home or begin the adventure in building y

our first home now is the time to take advantage of the First Time Homebuyers Tax Credit.

And, remember this tax credit does not require repayment.  But time is running out.  The extension for both tax credits expire April 30, 2010, for written contracts with a minimum 60 day close no later than June 30, 2010.

Historically, the real estate housing market has led the nation out of economic downturns in the past and will do so again.

How?

The sale of one home generates an average of $60,000 of “additional” purchases (services and materials) into the national economy. In North Carolina that figure is around $45,000. These added purchases create jobs, new spending and more tax revenue. (Source: National Association of Realtors)

Now, economically, is absolutely the best time to sell and buy another home.

Why?

• $8,000 tax credit (cash back) for 1^st time buyers.

• $6,500 tax credit (cash back) for existing homeowners.

• Mortgage rates are at all time lows – approx. 5%

Principal & Interest monthly payment of 5%/30 yr. loan

• $100,000 = $536.82 per month

• $150,000 = $805.23 per month

• $200,000 = $1073.64 per month

Home prices are lower and competitive.

Our housing market these next few months offers the most affordable “housing index” North Carolina and the U.S. have seen for many, many years.

Interested in learning more about how this tax credit will benefit you?  Call me today at 704-301-7404 or email me at tiffany@husbt.com and let's dicuss all the options available to you.

Below are links to a wealth of information regarding the 2010 Tax Credit.

• Chart Highlighting the Major Modification to the First-Time Homebuyer Tax Credit

• Frequently Asked Questions

• The IRS First-Time Homebuyer Tax Credit Form

• IRS - First-Time Homebuyers Have Several Options to Maximize New Tax Credit
• Federal Housing Tax Credit