Our Government Wants You To Sell Your Home And Move, And They Will Pay You Up To $6500 To Do It.
November 06, 2009
Receive up to $6,500 for moving into another home from you current one.
The recent extension of the home buyer tax credit for first time home buyers was also expanded to include current home owners. Basically they want you to move and move up in particular.
Before only first time home buyers got an incentive to buyer real estate. Now existing home owners can sell and move up and receive up to $6,500 for doing so.
To do this you must have used the home sold or being sold as a principal residence consecutively for 5 of the 8 previous years. This means most of the owners who have been in their home at lease 5 years will have some equity in the home allowing them to sell, take the money and buy another home which does not have to be more expensive, but you're limited to a home up to $800,000.
You income as a single person cannot exceed $125,000 or $225,000 for a married couple.
This credit comes into effect December 1st 2009 and will stay in effect until July 1st 2010 but you need to be under contract by April 30th 2010.
The medium price range has been weak so this may help spur up some activity in that segment. It won't do anything for the upper home segment which remains weak.
If you would like to discuss this program the process of selling and buying in further detail call Artur at 602.628.4349
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