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The $8,000 federal income tax credit for first-time home buyers has been extended until June 2010, but buyers must be in a binding contract before April 30. The income level to qualify was doubled to $125,000 for an individual.
Also, Congress has enacted a $6,500 income tax credit for current home owners who have occupied their home for at least five years.
Buyers now have until next April 30 to enter into a binding agreement to buy their first home. While the tax credit remains in effect, and mortgage interest rates remain low, buyers who qualify should take advantage of the real estate market, which continues to favor them.
If you are even thinking about buying your first home, or moving up from your existing home, talk to a mortgage lender now. Find out how much you are qualified to borrow, and start shopping for a house in your price range.
If you are looking to buy a home in Americus, Ga., Ellaville, Ga., Sumter County, Ga., or Schley County, Ga., Michael Dixon Realty can show you any property listed with any company. Call me at 229-924-3089 with any questions you may have about a particular property or the market in general.
Visit my websites michaeldixonrealty.com, americusgarealestate.com, ellaville-schley-homes-land.com, or clientrealty.net. Ask questions, get answers, and provide answers on line at americusgarealestate.net. Log in to the forum.
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