First Time New Home Buyer Tax Credit | November 2009 Deadline | More On The Bailout Buyer Incentives And Tax Credits

Kennewick, Richland, Pasco, West Richland Washington Home SearchNovember 2009 Deadline

$8000 Tax Credit

Real estate is now more than running from pillar to post personally hunting for properties and then, documentation within the litigation process. Buyer incentives and bailout planning are designed to offer tax credit and compensation to deals that are closed within predetermined periods. Tax Credit, and not tax deduction, is offered to first-time homebuyers in Kennewick, Richland, Pasco and Washington, who close purchase deals with us till November 2009. The incentive comes in the form of a 10% of the estimated value being offered as home tax credit. The tax credit is literally equivalent to cash in hand! Our tax credit phases out couple-incomes above $150,000 and in the case of individual filing, incomes above $75,000. The condition is that the home needs to be bought and maintained without sale being contemplated within the next three years. This feature is promoted as a dedicated buyer incentive. The tax credit is applicable to any principle residence. This provision is primarily to promote energy-efficient investments and increase support towards critical housing programs. The tax credit bailout offers dollar-for-dollar tax reduction, which means that there is no payback involved if you owe anything up to $8,000 in income tax! The bailout buyer incentive is refundable. This feature allows you, as a homebuyer, to receive a check payment for credit if your limited income tax liability is proved. The tax credit incentive does not rule out the involvement of a tax advisor prior to important decision making.

Time is running out! Contact us, or start your home search today to allow for a November 2009 escrow close.


by Colleen Laneby Colleen Lane
The Lane Real Estate Team
(509) 438-9344 - Colleen cell
Feel free to call or text!
lanerealestate@gmail.com


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8 Responses to "First Time New Home Buyer Tax Credit | November 2009 Deadline | More On The Bailout Buyer Incentives And Tax Credits"

Costa Rica Realtor wrote: California is the state where people have requested this tax credit the most, with over 40 thousand new home buyers, I believe this a great plan from obama, and one that is surely helping with the recovery of the market

Posted on Thursday, September 10th, 2009 at 11:52am.

Erin wrote: Thanks for sharing this info, it looks like a lot of people are taking advantage of this deal.

Posted on Thursday, October 15th, 2009 at 6:53pm.

Richard wrote: The credit passed today along with a $6500 credit for other than first time buyers.
This should keep the market going, along without low rates.

Posted on Wednesday, November 4th, 2009 at 6:47pm.

Ivan Poral wrote: Your right Erin, not only the first time home buyers can benefit on this tax credit program extension, but also for those who are planning to move up or buy a new home.

Posted on Tuesday, November 10th, 2009 at 11:41am.

Joe wrote: I LOVE THE VIDEO!!! A simple easy to understand way to explain the credit. You have great information for people looking to buy or sell in Washington. I will make sure to pass on your info if I have any clients moving up north (way up north).

Joe

Posted on Tuesday, November 17th, 2009 at 1:42pm.

Richard wrote: The tax credit really helps the market. However, in our area of Bergen County New Jersey, we need better Jumbo mortgages. Without the secularizing for jumbo's we can not get the high end going!

Posted on Monday, November 23rd, 2009 at 6:21pm.

chelsea wrote: looking for property in west richland that is up for back taxes needs work fixer upper suppose to be cheaper and what does 8000.00 mean does that mean they wiil giveyou that 8000.00 down one told me they gave him a 20.000 down if the house is up for back taxes dont that mean the 8000.00 would pretty much cover being able to get the house the other guy pretty much told me the house he got from first time house buyer pretty much paid it off there was one in burbank wa. that did not need much work but went for 3500.00 on a big piece of propert as well it was pretty nice like i said they aloted him 20.000 which can or pretty much pay the house off it can also beout in acountry setting as well but like around burbank wa. area 99323 let me know asap if this is what this pertains to can you also email me to find out what your email address is

Posted on Monday, January 18th, 2010 at 2:27pm.

chelsea wrote: need to know what it means by first time home buyers one told me they alloted him 20.000 it pretty much paid the house off there was a peice of property in burbank wa. 99323 they sold for back taxes really nice for 3500.00 didnot need much work perfeably looking in that area but would prefer west richland wash. is this the same program that alots you money for the down pymt he told me to check into it he also says they can usually come up with something pretty nice it can also be a fixer upper i hope this is the same thing if not do you know what he would be talking about i would think the 8000.00 would be the down pymt he says that one of them is leg. cause they did it for him your email is what write to but what is yours this happen to come up on the computer about the 8000.00 so explain to me if this is kinda the same thing he found another told me there is such a thing besides him telling me about him getting alloted 20.000 he did receive it send your email address and it was hard to get this to come up on the computer so it would be appreciated if you would email your email back i hope this is kinda the one i was told about i was told some of them are not scams write back no matter what and let me know if this is what i think it is if not can you find out which one is

Posted on Monday, January 18th, 2010 at 2:39pm.