I just wanted to let everyone know what was going on with the IRS tax credit. I have attached a link that is very helpful.
To give you a simple explanation:
If you are thinking of buying a home this year, it is a great time to do it. The housing market has lots of great inventory and prices are down just a little bit. People are getting really good deals!
The IRS is really encouraging the spending and giving out $8,000 as a credit to you.
What this means is, if you purchase a home between Jan 1st, 2009 or before Dec 1st, 2009, you will get a refund (you have to file for it) for $8000.00 and YOU DON”T HAVE TO PAY IT BACK!
Here is a link to answer your questions.
Note: If you are buying a home under $100,000, then the tax credit it reduced from $8000 to 10% of the purchase price. So if you bought a $60,000 home, you would get $6,000.
Let me know if you have questions about any of this!
I’m here to help!!!!