Three Months and Counting....

The $8,000 tax credit for new home buyers is set to expire December 1, 2009. With inspections, title searches, and funding approval, it can take a month or longer to "close" on a property. That doesn't leave much time to take advantage of this sizable incentive. This is a fully refundable, dollar for dollar tax credit, which means it will reduce your tax bill by $8,000. If you owe nothing or are due a refund, you'll recieve an extra $8,000!


Anyone who has not owned a home as a principal residence for three years is eligiable for the tax credit. In other words, if you've owned your home in the past, but have rented for the last three years or longer, you are considered a potential new home owner again. The house you purchase must be considered your primary residence and there is a phase-out based on higher incomes. To see more information on the program, click here.

$8,000, coupled that with 5 to 20% discounted home prices and 5.5% interest rates, and it is hard to imagine a better time to be a buyer! If you would like more information on possible homes or condos in the area, please contact me at 615-545-8611 or at jeff@jefffulmer.com. You can also search my web-site, http://www.jefffulmer.com.