The real estate market may seem a little scary for some right now, but with the American Recovery and Reinvestment Act getting signed into law I have some good news for buyers wanting to realize the dream of home ownership. You can take advantage of low interest rates and also the tax credits just signed in to law. Here is an outline the high points:
• You must be a first time home buyer and not have owned a home within the last 3 years.
• The amount of the full credit is $8,000
• Single family home, condominiums and town homes all qualify-must be principal residence.
• Program is only valid in 2009
• Income requirements are no more than $75,000 adjusted gross income for single purchaser and $150,000 for joint filing purchaser to receive the full credit of $8000.
If you do want to take advantage of these credits please contact a tax professional to see if you qualify and then give me a call. I would love to get you into a new home. In Estes Park, we also have housing programs that offer additional affordability to individuals who can income qualify.
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