GREAT NEWS! The Home Buyer Tax Credit has been extended and expanded! Now, eligible existing home owners may also qualify for a tax credit of up to $6,500! It’s the right time, right now, to sell your current home and to buy a new home.
NEW $6,500 Tax Credit for Current Home Owners*
· Eligible home buyers must have lived in their current home for 5 consecutive years of the past 8 years.
· The new home does not have to cost more than the old home.
· Eligible for homes with purchase agreements written by April 30, 2010, and that close before June 30, 2010.
· Annual income caps to qualify for the full tax credit apply: $125K for single filers and $225K for joint filers. Partial tax credit can be granted for incomes up to $145K for single filers and $245K for joint filers.
The $8,000 First-Time Homebuyer Tax Credit is Extended!
· Now, qualified first-time home buyers will qualify to receive their $8,000 tax credit if they sign a purchase contract by April 30, 2010, and close by June 30, 2010.
· The home purchased must be their primary residence.
· Qualified buyers cannot have owned a home during the past three years.
· Tax credit is up to 10% of the home value (not to exceed $8,000).
· Annual income caps to qualify for the tax credit have increased: $125K for single filers and $225K for joint filers. Partial tax credit can be granted for incomes up to $145K for single filers and $245K for joint filers.
For more information on these tax credit opportunities and to view our exclusive Tax Credit Informational video, visit the Home Buyer Tax Credit section of ReeceandNichols.com.
I am committed to providing a remarkable home buying and selling experience to each of my clients. If you or someone you know is in a situation to change their space because of the tax credit incentives, I would be interested in talking to them.
Regards,
Reece & Nichols Lake Ozark Real Estate

*If you have doubts as to your eligibility for either of these tax credits, please consult a certified public accountant.