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Home Buyer Tax Credits 2009
Extended $8000 Federal Tax Credit for First Time Home Buyers - The United States Congress passed a new economic stimulus bill that was signed into law by President Obama on Friday, November 6, 2009. The law includes an extension of the $8000 Tax Credit for First Time Home Buyers (10% up to $8000) that was set to expire on December 1st, 2009. Contracts must be binding by April 30, 2010 and closed by June 30, 2010.
Homebuyer Tax Credit Update
FAQ Buyer Tax Credit 2009
IRS Form 5405 Buyer Tax Credit
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Expanded $6500 Federal Tax Credit for Existing Homeowners - This new tax credit is intended for trade-in and move-up buyers. The $6,500 tax credit applies for buyers who have lived in their current residence for 5 of the past 8 years. Buyers must live in the new residence for 3 years to avoid repayment requirements. This tax credit becomes effective December 1st, 2009. Contracts must be binding by April 30, 2010 and closed by June 30, 2010. There is no requirement to sell your current property. The new property must become your primary residence.
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This is great opportunity for homebuyers in metro Atlanta. There are unprecedented opportunities to buy great properties at fantastic prices. Mortgage rates are at historic lows and future value trends for Atlanta real estate are very positive.
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Did you know that some new home builders are offering incredible incentives right now?
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Did you know that bank-owned properties and corporate-owned properties may be excellent buying opportunities?
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Did you know that select short sales may be great buying opportunities? There are lots of "gotchas" so you need to be working with an expert in this area.
Act Now - This May Be the Home Buying Opportunity of a Lifetime!!!
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