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Home Buyers Have 77 Days Left to Claim Tax Credit
Category - Real Estate Information Sources - Real Estate Information General
Home buyers have 77 days left for the federal tax credit of up to $8,000.  The new provisions extend the deadline to April 30th and also provide a new credit of up to $6,500 for buyers who do not qualify as "first-time" home buyers.  Here are a few facts:
  • To qualify, the home must be contracted for by April 30, 2010 and the deal must close by June 30, 2010.
  • First-time buyers, or buyers who have not owned a home for at least 3 years prior to closing, are eligible for a federal tax credit of 10% of the purchase price, up to $8,000.
  • "Other" buyers are also eligible for a tax credit up to $6,500, provided they have owned their current home for 5 out of the previous 8 years.  There is no requirement that the current home be sold.

If you're considering buying a home, now may be the perfect time.  If you have any questions about Boulder real estate or about the home-buyer tax credit, please feel free to contact us.

Phil Boren's Profile

Phil Boren is a 26-year veteran real estate Broker and Realtor with RE/MAX of Boulder, the #1 RE/MAX office in the U.S.  For more about Phil and our office, please click here.

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