Tuesday, February 23, 2010

Real Estate Tax Benefit

The extended and expanded home credit for the first time homebuyers this 2010 raises their income for singles of $125,000 and $225,000 for the family but of course you must not owned a home for the previous three years.

Good news to those couples who live in their home for at least 5 years can buy a property that cost $800,000. To those who lived in their current home for 5 of the past 8 years will be given $6,500 tax credit.

However, all the contracts of Tax Credit deadline will be on April 30, 2010 and the properties must be closed on June 30, 2010.

We knew that because of this it creates jobs and thus helping to resolve back the economy to its normal flow. There are lots of unemployed individuals now affected by the global financial crisis. In addition to that, every time a home sold approximately $60,000 will be given to the local economy,

This is a chance for the first time homebuyers to buy their desired homes especially to those young couples who have been renting for a couple of years. A chance we cannot resist.

The Real Estate Tax Benefit is given to all individuals who are longing to own a house after years of waiting. 

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