Home Buyer Credit For Phoenix Move-Up Buyers
December 14, 2009
The economy trives when money transfers hands and the government want to do part of this by getting real estate to change hands.
Time to move up in Phoenix, AZ. That's what the government wants you to do to help keep real estate moving.
The recent extension of the $8,000 first-time home-buyer credit also included a provision for current home owners to receive a $6,500 credit who purchase another home as their primary residence. The word primary is key. The basics are:
- Have a property under contract by 4/30/2010 and close by 6/30/2010.
- Buy a home up to $800,000 and not more.
- You must have been in your current primary home for at least 5 of the last 8 years.
- You can qualify if your income is below $125,000 for a single person and $225,000 for a married persons.
The National Association of Home Builders and IRS have more details and there are quite a few of them. In addition, consult your CPA.
Call us when your ready and we'll help you from start to finish.
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 | First Time Home Buyer Tax Credit For Phoenix Home Buyers Extended and Expanded. |
| Slow down, you now have until April 30th, 2010 to get the tax credit and until July 1st to close the transaction. |
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