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2010 Homebuyer Tax Credits

This is a Sponsored Post written by me on behalf of Coldwell Banker. All opinions are 100% mine.

Looking for a house this year?  I'd recommend acting quickly because there are some 2010 Homebuyer Tax Credits you may qualify for!  First-time homebuyers, or those who have not owned in the last three years, can receive up to an $8,000 tax credit!  That makes buying a house a win/win for everybody.  Not only are you getting a house cheaper than you could in the last five years, but you'll also be getting a nice tax return!  Also, homeowners who have lived in a current home (aff) consecutively for 5 of the past 8 years can receive up to a $6,500 tax credit when purchasing a home (aff).

These programs have been extended from last year, but don't count on any future extensions.  To qualify, you need to have a written, binding contract by April 30, 2010 (close by June 30, 2010.)  The income limits are now $125,000 for singles, $225,000 for married couples with a $20,000 phase-out of the credit for both.

Now, the first-time tax credit was working, but what housing and our national economy needed was incentive for the move-up buyer. According to The 2009 National Association of Realtors® Profile of Home Buyers and Sellers, the number of first-time home buyers rose to 47 percent of all home sales from 41 percent of transactions in last years study, and was the highest on record dating back to 1981. The previous high was 44 percent in 1991.

What are you waiting for?  Go house shopping!

Visit my sponsor: 2010 Homebuyer Tax Credits

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