First-time Home Buyer Tax Credit Increased!

Did you know that home-ownership if done correctly, can be one of the best investments one can make? Well in case you haven't heard the news-The First-Time Home Buyer Credit has been increased to $8000.00! Combine that with today's LOW interest rates, lots of inventory and motivated sellers, you have quite possibly the best time in decades to finally purchase that home you've been dreaming of.

FIRST TIME HOME BUYER TAX CREDIT SUMMARY

• 1: 1st Time Buyer Credit Expires 12/1/2009
• 2: Credit amount has been increased to $8000.00
• 3: Credit is available for 1st Time Home Buyers only
• 4: Available for home buyers with Adjusted Gross Incomes not exceeding $75,000 and $150,000 on joint return - Phases out above these caps($95,000 and $170,000)
• 5: No repayment of credit for purchases on or after 1/1/2009 and before 12/1/2009
• 6: Single Family-Condo-Co-op-Townhomes used as a principal residence qualify
• 7: If home is sold with first 3 years of purchase, entire amount of credit is *recaptured on sale of property. *2009 purchased homes only
• 8: All changes to Home Buyer Tax Credit are effective as of 1/1/2009

So-GET OUT THERE and MAKE YOUR DREAMS COME TRUE!
What are you waiting for?

There you have it. If you have any questions regarding this gift from our "Dear Uncle Sam", please feel free to contact us here at the Wickland Group anytime. Or if you have any questions about buying or selling a home in the greater Ann Arbor area, give us a call. We're here to help you every step of the way!


By Steve Wickland