First Time Homebuyer Tax Credit

Here is some new information concerning the tax credit available to first time home buyers this year.

The tax credit has been scaled down to $8,000 from $15,000, or 10% of the value of the home for any first time homebuyers who purchase homes from the start of the year until the end of November. It starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000. Buyers will have to repay the credit if they sell their homes within three years.

This is another good reason for buyers to take advantage of the low interest rates and good buys that are currently out there.

David J Edwards
REALTOR
The David J Edwards TeamKeller Williams Realty Southeast Sound
Phone: 425-890-8045
Fax: 425-902-1899E-Mail: david@davidjedwards.com
Website: http://www.davidjedwards.com
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