When the Economic Stimulus bill was signed by President Obama it contained a revision to the 1st time home buyers tax credit.
2 key points: The credit is now worth up to $8000 and it does not have to be paid back unless you sell the home within 3 years of the purchase.
Please click on this link $8000 first time home buyers tax credit for Macomb County MI to download a .pdf version of this revised first time home buyers tax credit chart.
If you have questions about any of these changes please don’t hesitate to contact me. No pressure - just conversation.
~Kris Wales~ A Macomb County MI real estate agent
Have a real estate question? RSS Feed
4 responses so far ↓
1 Jill Klunk // Feb 22, 2009 at 4:42 pm
Hi Kris,
Great article and I especially like the “FirstTime Home Buyers Tax Credit” chart. Your market is surely very challenging, I recently sold my Dad’s home in Warren, and it was a real challenge.
Jill Klunk, Conway SC
2 Kris Wales // Feb 22, 2009 at 5:41 pm
Hi Jill,
Thanks for stopping by and commenting. Yes, it is a real challenge here and hopefully the first time home buyers tax credit will help to move some of the homes that have been sitting on them market waiting for a new owner.
Congrats on the sale of your Dads home!
Kris
3 Brian Powers // Feb 23, 2009 at 11:07 pm
I sure wish they’d change the name of this tax credit. Almost everyone I talk to takes the meaning of “First Time Home Buyer” literally, when really it means anyone who hasn’t owned a principal residence in the 3 years prior to purchase.
4 If I owned a home 4 years ago how can I be a first time home buyer? Some clarity about the $8000 tax credit | Chat about Macomb County MI real estate & Homes for sale search site // Mar 1, 2009 at 5:57 am
[...] Brian Powers, a real estate agent in Chesterfield Township, brought up a good point about the $8000 home buyers tax credit that was recently passed by President Obama. [...]
Leave a Comment