By Marjie Cunningham If you are wondering if the $8,000 credit for first time buyers applies to you, please read the article by Kenneth Harney in a recent Seattle Times issue. Here's the link:
http://seattletimes.nwsource.com/html/realestate/2009305447_harney07.html
If you have questions, you can post them here, as many of our agents have had experience with helping buyers jump through the hoops. It isn't hard, and it is $8,000. The offer ends December 1, 2009.
Of course, it is always advisable to talk to your accountant whenever you are making moves that affect your relationship with Uncle Sam.
Diane Easley
Danny Adamson
Aune Tietz
Glenn Roberts
Marjie Cunningham
Karissa Webster
Carol Gabrielson
Allen Jaworski
Jason Wall
John "Mack" McCoy
Dan Goforth
Claire Zaner
Christiaan Bourdrez
Thanks, Marjie--good information & the Times article does a great job of getting the basics. Here's another helpful resource on the web, which has more detailed information:
http://www.federalhousingtaxcredit.com/2009/faq.php#1
One of the more interesting things I've learned about the tax credit is that being the owner of a vacation or rental home does not disqualify you from receiving the credit. There are a lot of little deatils to the credit that are important, so like Marjie said, feel free to ask if you have questions & be sure to consult an accountant when you're ready to dive in.