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2010 Moultrie Homes and Real Estate Guide
Tax Credit Extended until April 30, 2010
There is still time to take advantage of this great opportunity to own your own home!
By votes of 98-0 and 403-12 respectively, the US
Five Reasons Why You Should
Senate and House each passed the Unemployment
Buy a Home in 2010
Insurance Bill, which contains the homebuyer tax
credit extension and expansion. After receiving broad
1. First-time home buyer tax credit. This is no longer just
bi-partisan support the bill now heads to the President
for first-time buyers; existing homeowners also qualify for
up to $6,500 on a new home if they’ve lived in their current
for his signature.
home for 5 years or more. First-time buyers still qualify for
up to $8,000. This has been extended to April 30th, 2010, so
start looking for a new home!
Over the last two weeks, NAR and Senator Isakson
have worked extensively with Senate leadership to 2. High inventory of homes. There is no better time to buy
expand the current first-time home buyer tax credit to
than now because never again will you have such a large
selection of available homes everywhere. You can literally
include buyers in the "trade-in" or "move-up" market.
pick not only the city you want to live in, but also down to
The bill establishes a new $6,500 tax credit for "move-
the streets you want to be close to.
up" buyers so long as the home they are leaving has
3. Low cost of homes. What could make this more idea?
been their principal residence for five years or more.
Not only are many homes readily available, they’re also
about half price in most areas. Homes that were valued at
$160,000 just two years ago are now down to $75,000, buy
Both the $8,000 first-time home buyer tax credit as
your dream home now before property values rise with the
flood of first-time buyers.
well as the $6,500 tax credit for "move-up" buyers
would sunset on April 30, 2010. However, individuals 4. Low mortgage rates. Interest rates have not been this
who have contracts as of April 30, 2010, would still
low for over a decade, so buying a home now can save you
thousands just on the rate alone. Already in your dream
qualify for the credit so long as they complete the
home? Look into refinancing to take advantage of this
transaction within 60 days. The bill establishes income
opportunity.
limits of $125,000 for an individual or $225,000 for a
5. Capital gains, building equity, and tax deductions.
couple for both credits. The cost of the home being
Buying a home now is truly an investment – more so than
ever before. Why? Because homes are cheap, and every in-
purchased may not exceed $800,000 in order to be
vestor knows the “buy low sell high” phrase. If you buy a
eligible for the credit. home now and just pay the minimum mortgage payments,
you’re still building equity that renting wouldn’t allow.
Don’t Miss Out!
Advertise in the
Spring 2010 Issue
moultriemagazine@gmail.com
26 Moultrie Magazine Winter 2010
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