Update on the new home buyer tax credit
Just a couple of days ago I wrote about the new home buyer tax credit that was passed as part of the American Recovery Act.
I saw this great little chart on the National Association of Realtors site that quickly summarized the differences for you. The common misperception I am hearing from buyers is that if they haven’t purchased a home in 3 years, then they qualify, but the tax credit if for people that have not OWNED a home in the past three year. So, if you have owned your home for 5 years, and are selling now…you are not eligible for the tax credit.
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February 19th, 2009 at 7:17 am
I am pretty sure for home owners things will be lot better next year.
February 19th, 2009 at 1:10 pm
It depends. It really depends on what happens with unemployment.