* MBA, cum laude, Babson College, Wellesley MA
Market conditions currently favor first time homebuyers. Historically low interest rates, affordable prices, large variety of properties to choose from and the new $8,000 First Time Homebuyer’s Tax Credit make this an ideal time for consumers to make their move.
With this bill, first time homebuyers may now qualify for a tax credit up to $8,000 (the previous amount was $7,500) on the purchase of a principal residence. In addition to increasing the tax credit limit the terms of repayment have been modified, in most circumstances the homebuyer no longer needs to repay the tax credit.
For more information and details, please e-mail Sue Hayes!
Despite recent slowdowns in some markets, housing remains a good long-term investment, and demographic demand favors housing over the longer term. Homeownership offers immediate benefits and long-term value. Homeowners accumulate wealth for the future while enjoying the benefits of a shelter that they can use, improve and sell.
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If I am married and own my home but my wife has never owned a home will she(we) qualify if we buy a home jointly in 2009?
Thank you for your question………..it depends on how your taxes are filed (this is TAX credit) Refer to your accountant, who can advise on how your filing status affects your eligibility.