I have watched real estate prices go down in value and foreclosures go up to an all time high. My own home’s value dropped even though I purchased it as a “short-sale”. But as an Investor I can’t help but notice the great buying opportunities that exist and I want in!
The government has came up with a creative way to help people like me as well as first-time homebuyers grab some of this housing inventory that is just sitting there. For first-time homebuyers they can get a tax credit of $8,000 towards the purchase of their new home. For current homeowners they qualify for a tax credit of $6,500 towards the purchase of a home. What a great deal.
Although the first question that comes to most homeowner’s mind is “What will I do with my current home?” I too, had that thought. Because of the rules, the credit is to be used for your primary residence. Homeowners will need to sell or rent their current home in order to take advantage of this particular tax credit. Is it worth it? For me and other Investors it is. Where else will one be able to get free money towards purchasing a home as a pre-existing homeowner? Most grants are offered only to first-time homebuyers and even then they must meet the strict income and requirement guidelines. No, this is a once in a lifetime deal and some people will regret the fact that they missed out on it.
So now that you are aware of this tax credit, you must hurry. You have until April 30, 2010 to have a home under contract. Otherwise the tax credit may no longer be available. Good luck to all those that see the many opportunities in this stress economy.
If you want to learn more about great opportunities, consider joining our organization. Both women and men are welcome and we have a lot of discounts for our members to enjoy. We believe in Family, Finances, and our Future. Please take a moment to listen to our weekly talk show, WoW Conversations that airs live every Sunday at 9:00pm EST (previous shows are archived on the front page) or join our group on Facebook!
CEO & Host of Women Obtaining Wealth
Women Obtaining Wealth Organization
W.O.W. Conversations on Internet Radio, Sundays @ 9p EST
Call-In # for show: (646) 478-5836
Recommend Me!
Download now or listen on posterous
No comments:
Post a Comment