What a great time to buy a house! If you are a first time home buyer, or haven’t owned a home in three years, there is an excellent reason to not wait any longer to purchase your dream home…a tax credit that can put money back in your pocket for buying a house!
Here are facts about the American Recovery & Reinvestment Act of 2009
Who is eligible? Buyers who have not owned a home during the preceding three years. You may qualify for the tax credit even if you and your spouse owned a home more than three years ago. Single buyers can earn up to $75,000 a year, and married couples up to $150,000 a year.
How much? The tax credit is based on 10% of the purchase price of the house…up to a maximum of $8,000.
What properties are eligible? The tax credit applies to any single family residence, including condos, co-ops, and townhouses, that will be used as the primary residence. Vacation homes and rentals are not eligible.
How does it work? The tax credit reduces your tax bill or increases your refund, dollar for dollar. It is fully refundable, meaning the credit will be paid out directly to the purchaser, even if you owe no tax or the credit is more than the tax you owe. There is no repayment required if the buyer keeps the home for at least three years. Buyers are permitted to claim the tax credit on their 2008 taxes, even though the house closing occurs in 2009. An amended 2008 tax return may be filed after closing. Or the tax credit can be taken for 2009.
Is there a deadline? Home must be purchased and closed between January 1, 2009 and November 30, 2009
Please contact me if you have any questions or you are ready to pursue purchasing a home and taking advantage of this credit! Call or email me for my list of Best Buys in the Joplin, MO area.
Cindy Moore,
Your Joplin Realtor
417-529-8525
Cindy@yourjoplinrealtor.com
March 12, 2009 at 10:11 pm
I made a quick trip last weekend to Texas. Greg drove us through flat Oklahoma and Texas and navigated safely through the traffic clogging Dallas. Our daughters Elissa and Adriel accompanied us and it was so fun to have them along on the journey. On the return trip, we got to pause long enough to have lunch with a friend and his son and catch up on news.
But the highlight of the trip, indeed, the purpose of the trip, was to watch our 
son Nathanael exchange vows and rings with his sweetheart, Brittany. The setting was beautiful…an outdoor balcony overlooking Belton Lake, in Belton TX. The groom was handsome in his tux and all smiles, the bride gorgeous in a white sleeveless dress, her eyes twinkling. And watching quietly from her infant seat, their darling baby, Aubrey, sat unfazed by all the activity, fascinated by how the tree in the corner moved in the wind.
The ceremony was short and sweet, performed just as the sun set. A very intimate gathering of close family members then sat down for a fun meal. Did I mention the wedding took place at a busy restaurant, called the Dead Fish Grill? The balcony room was high above the restaurant. The wait staff did an 
excellent job of keeping the food and drinks coming! It was a special night, memorable, magical.
I’m so excited as Nate and Brittany take this next step in their journey together. With their baby daughter, they make an adorable family. I’m proud of them! Many adventures and joys along the way, Nate, Brittany, and Aubrey Moore!
Cindy Moore,
Your Joplin Realtor
417-529-8525
Cindy@yourjoplinrealtor.com
March 8, 2009 at 12:50 am
