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.

Related posts:

  1. Tax Credit Update for Home Buyers
  2. First time Homebuyer Tax Credit
  3. Is signing a buyer agency agreement naive?
  4. Salem Oregon June Real Estate Market Update
  5. Coffee and Stats: July 2008 Real Estate Market Update for Salem Oreon