For all the First-Time Home Buyers out there - have you asked yourself lately,
"Why is it a good time to buy McKinney, TX Real Estate in 2009"?
If so, I've got the answer: $8,000.00!
What does $8,000 have to do with it? The revised economic stimulus bill, signed 2/17/09, is offering First Time Home Buyers an $8,000 Tax Credit!
Here's the scoop:
1. You'll recieve a credit in the amount of 10 percent of the sales price up to $8,000.
2. It applies to purchases after January 1, 2009 and before December 31, 2009.
3. Income limits (based on adjusted gross income) are $75,000 or less for single buyers and $150,000 or less for married buyers.
4. The credit does not have to be repaid by the buyer as long as they own the home as their primary residence for at least three years.
5. If the buyers do not own the home for at least three years, the credit will have to be returned to the government.
6. The revised credit is still refundable, meaning that the credit will be paid out to eligible taxpayers, even if they don't owe tax or the credit is more than the tax they owe. Woo Hoo!
You will need to consult with your tax preparer or CPA about the details for applying for the credit. An IRS Form 5405 will need to be completed.
Another great reason: LOW INTEREST RATES
Yet another reason: LOTS OF HOMES TO CHOOSE FROM!
With 921 homes available for sale on the MLS, in addition to lots of new construction available, NOW is the BEST time to buy McKinney, TX real estate!
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If you're looking for a home in the McKinney TX or Collin County area then you're in the right place! Search for homes on my Collin County real estate website, subscribe to this blog, or follow on Facebook and Twitter.
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