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Showing posts from January 31, 2010

Move-Up/Repeat Home Buyers in Tampa, Florida Can Benefit from Home Buyer Tax Credits

Don’t Miss the Boat! Part 2 of a 2-Part Series Are you a home owner in Tampa Bay, Florida and wish to move up to a larger home or even downsize? Are you uncertain whether you are financially able to make that move in today’s real estate market? Well, think again. Many people are unaware that tax credits are now available for existing and repeat home buyers. Time is of the essence. Time is ticking on this soon-to-expire opportunity! With historically low interest rates, an abundance of aggressively priced homes listed for sale, and the home buyer tax credit being offered, nobody is excluded in today’s real estate market. Everyone is included. Who is eligible for the $6,500 tax credit? U.S. citizens or those with permanent resident status who have owned and lived in the same home for at least 5 consecutive years of the 8 years prior to purchasing are eligible for this tax credit. What are the income limits for this tax credit? Single taxpayers can earn up to $125,000, and marri

Move-Up/Repeat Home Buyers in Tampa, Florida Can Benefit from Home Buyer Tax Credits

Don’t Miss the Boat! Part 1 of a 2-Part Series For the past six months, there has been a wealth of information and press about the 2009 First-Time Home Buyer Tax Credit, but there has not been as much talk about the fact that move-up home buyers can also benefit from the Worker, Homeownership, and Business Assistance Act of 2009. Who are move-up home buyers and how can they benefit from this tax credit by purchasing a home right here in Tampa, Florida? All real estate buyers should benefit in the first quarter of 2010. According to the National Association of Home Builders Home Buyer Tax Credits , “The law defines a tax credit qualified move-up home buyer (“long-time resident”) as a person who has owned and resided in the same home for at least five years of the eight years prior to the purchase date. For married taxpayers, the law tests the homeownership history of both the home buyer and his/her spouse. That is, both spouses must qualify as long-time residents, with at least five