Well, now it is time for you to get your money through the real estate stimulus
package. Yes, this package is something that was given so that average Joe Homeowner could benefit and have motivation to buy or build a new home.
Have you gotten your share. Here are the ideas that are behind this:
The federal income tax credit for homebuyers has been extended and expanded to now include homeowners who wish to "move on" after 5 years of living in their current property, as well as first-time home buyers.
- First-time home buyers, or those who have not owned in the last three years, can receive up to an $8,000 tax credit
- Homeowners who have lived in a current home consecutively for 5 of the past 8 years can receive up to a $6,500 tax credit
- There may be no future extensions, so all qualified homebuyers are urged to act and have a written, binding contract by April 30, 2010 (close by June 30, 2010)
- Income limits are now $125,000 for singles, $225,000 for married couples with a $20,000 phase-out of the credit for both.
The question is - Do you want your money?
That is my thoughts on this subject for now. However, to hear more about it you might want to view the video below.