I’m sure this isn’t news to most of you, as I’ve received about 100 emails over the past few days regarding the real estate tax credit getting extended.Â As seen in the Denver Post yesterday:
“Both first-time and move-up buyers now have to sign a purchase agreement by April 30 and close by June 30 to take advantage of the credits.The credit is available for the purchase of principal homes costing $800,000 or less, meaning vacation homes are ineligible. The credit would be phased out for individuals with annual incomes above $125,000 and joint filers with incomes above $225,000.
The credit would be extended an additional year, until June 30, 2011, for members of the military serving outside the United States for at least 90 days”.
Additionally, the program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.
If you’re currenty an owner of Denver/Boulder Real Estate, and interested in a possible move-up purchase, Contact Me for more info on qualifying for the $6,500 credit, as well taking advantage of super low interest rates.
Now, off to enjoy 70 degree temps, in Nov, in Colorado, after 2 ft of snow a week and a half ago.
Your Castle Real Estate