Neal Harrington
Broker NH/MA
(603) 821-8268
Broker NH/MA
(603) 821-8268
Southern New Hampshire & Northern Massachusetts Home Buyer & Seller Services
Featured Blog
Homebuyer Tax Credit Extended and Expanded to Include All Buyers
November 6, 2009-President Barack Obama has approved the updated homebuyer tax credit to extend the tax credit until April 30, 2010.
The bill extends the $8,000 tax credit for first time homebuyers from the current November 30 deadline and expands the program to offer a credit of up to $6,500 to homeowners who have lived in their current home for at least five years and are seeking to relocate.
The following details apply to the homebuyer tax credit expansion:
• First-time homebuyers and buyers that have not owned a home in the past 3 years prior to the purchase may be eligible for up to an $8,000 tax credit.
• Existing homeowners who have been residing in their principal residence for five consecutive years out of the last eight and are purchasing a home to be their principal residence (“repeat buyer”), may be eligible for up to a $6,500 tax credit.
• Income limits for single first-time homebuyers is up to $125,000, or up to $225,000 for married couples filing a joint tax return.
• The eligibility period for the tax credit is for homes purchased after Nov. 6, 2009, and before May 1, 2010. However, home purchases subject to a binding sales contract signed by April 30, 2010, will qualify for the tax credit provided closing occurs prior to July 1, 2010.
• All homes being used as principle residence with a purchase price of less than $800,000 qualify, including newly-constructed or resale, and single-family detached, townhomes or condominiums.
• Vacation homes and rental property purchases do NOT qualify.
• All qualified homebuyers can take the tax credit on their 2009 or 2010 income tax return.
• The tax credit does not have to be repaid unless the home owner sells or stops using the home as their principal residence within three years after the purchase.
For a side by side comparison of the previous tax credit and the recently signed tax credit go to: www.realtor.org
For more detailed information on the new tax credit, visit the National Association of Home Builders (NHAB) site at: www.federalhousingtaxcredit.com.
If you are thinking of buying a home, please call me at 603-821-8268 to schedule a free consultation or visit www.nhhomesmarket.com for the Buyer’s Sign-up Form to schedule an online request and to register for the VIP Buyer Program.
Click on Buying Strategies for tips on buying and relocating.
Click on Selling Strategies for tips to get your home sold quickly.
Every home has its own plusses and minuses. If you would like to know how the value of your home compares, feel free to send me an email or submit your request through my CMA request form by clicking here Home Value Report.
November 6, 2009-President Barack Obama has approved the updated homebuyer tax credit to extend the tax credit until April 30, 2010.
The bill extends the $8,000 tax credit for first time homebuyers from the current November 30 deadline and expands the program to offer a credit of up to $6,500 to homeowners who have lived in their current home for at least five years and are seeking to relocate.
The following details apply to the homebuyer tax credit expansion:
• First-time homebuyers and buyers that have not owned a home in the past 3 years prior to the purchase may be eligible for up to an $8,000 tax credit.
• Existing homeowners who have been residing in their principal residence for five consecutive years out of the last eight and are purchasing a home to be their principal residence (“repeat buyer”), may be eligible for up to a $6,500 tax credit.
• Income limits for single first-time homebuyers is up to $125,000, or up to $225,000 for married couples filing a joint tax return.
• The eligibility period for the tax credit is for homes purchased after Nov. 6, 2009, and before May 1, 2010. However, home purchases subject to a binding sales contract signed by April 30, 2010, will qualify for the tax credit provided closing occurs prior to July 1, 2010.
• All homes being used as principle residence with a purchase price of less than $800,000 qualify, including newly-constructed or resale, and single-family detached, townhomes or condominiums.
• Vacation homes and rental property purchases do NOT qualify.
• All qualified homebuyers can take the tax credit on their 2009 or 2010 income tax return.
• The tax credit does not have to be repaid unless the home owner sells or stops using the home as their principal residence within three years after the purchase.
For a side by side comparison of the previous tax credit and the recently signed tax credit go to: www.realtor.org
For more detailed information on the new tax credit, visit the National Association of Home Builders (NHAB) site at: www.federalhousingtaxcredit.com.
If you are thinking of buying a home, please call me at 603-821-8268 to schedule a free consultation or visit www.nhhomesmarket.com for the Buyer’s Sign-up Form to schedule an online request and to register for the VIP Buyer Program.
Click on Buying Strategies for tips on buying and relocating.
Click on Selling Strategies for tips to get your home sold quickly.
Every home has its own plusses and minuses. If you would like to know how the value of your home compares, feel free to send me an email or submit your request through my CMA request form by clicking here Home Value Report.
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Neal Harrington
RE/MAX Properties
Neal Harrington
RE/MAX Properties
169 Daniel Webster Hwy
Nashua, NH 03060
(603) 821-8268 Direct
(603) 305-4604 Cell
Email: Neal@NHarrington.com
Nashua, NH 03060
(603) 821-8268 Direct
(603) 305-4604 Cell
Email: Neal@NHarrington.com
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