Overland Park KS Homes for sale & Johnson County Real Estate Blog: February 2009

First Time Home Buyer Tax Credit Top 10 list - by Bo Kociuba, Realtor, www.Okla-OK.com

Yes now is the time to buy your first Johnson County Home. $8000 for you.

$8000 First Time Homebuyer Tax Credit - Top Ten List by Bo Kociuba, Realtor, www.Okla-OK.com

 

 

This is an outstanding opportunity for the First Time Home Buyers.

The Congress has signed into law the legislation providing first time home buyers with a credit of $8000!

Time is of the essence. The home purchase must happen before December 1st, 2009. This is really not a lot of time to check one's credti report, FICO Score, take care of needed repairs or corrections, find a responsible and reputable mortgage lender, shop  for most suitable financing option, finding friendly and knowledgeable Realtor, start the house search quest,  arrange for sale of a current house, include vacations, save for downpayment, everyday life etc, etc...all of these take a lot of time and lots of planning.  To find information  about location, neighborhood, schools etc is not an easy and quick task.But don't worry. You are not alone, you have a friend in the business!

Let's meet together and I will help you plan for new home ownership.

FIRST TIME HOME BUYERS TAX CREDIT TOP 10 LIST

  1. Amount of Credit - 10% of purchase price, not to exceed $8,000
  2. Eligible Property - Single family residence (principal residence)
  3. Not Refundable - Reduces or eliminates income tax liablity, will receive refund for unused amount
  4. Income Limit - Single taxpayers with income up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit
  5. First Time Home Buyer - Purchaser and Purchaser's Spouse may not have owned a principal residence in three years previous to purchase
  6. Revenue Bond Financing - Purchasers who utilize revenue bond financing can use credit
  7. Repayment - no repayment for purchases on or after January 1st, 2009 and before December 1st, 2009
  8. Recapture - If home is sold within three years of purchase, entire amount of credit is recaptured on sale. Applies only to homes purchased in 2009
  9. Termination - Program expires on December 1st, 2009
  10. Effective date - Effective as of January 1st, 2009 

Call me if you need additional information or have a question...405-812-1572

With smiles,

Bo

 

 Mike Russell is a REALTOR with Keller Williams Realty. Mike specializes in Johnson County Kansas Homes and Real Estate for sale. Mike is a tech savvy realtor with over 17 years experience. Did you enjoy Mike's Blog? Feel free to subscribe or join Mike on his Social Network to stay up to date on Overland Park, Olathe, Leawood, Lenexa, Shawnee and all of Johnson Counties real estate news and more...

Mike Russell & Associates can be reached at 913-266-5828 or MRussell@KW.com  or www.SearchjocoHomes.com

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Comment balloon 4 commentsMike Russell • February 21 2009 10:40PM
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