The 2009 first-time buyer tax credit includes these enhancements, and applies to any buyer who has not owned a home in the three years prior to their 2009 purchase:
- The maximum tax credit amount was increased to $8,000 from $7,500.
- Buyers are no longer required to repay the credit.
- The time during which first-time buyers can benefit from the credit was extended by five months. It now applies to purchases of principal residences made on or after Jan. 1, 2009, and before Dec. 1, 2009.
Weichert has a resource for first-time homebuyers on its Web site that includes the most up-to-date information on the new tax credit. Click here or visit www.weichert.com/firsttimebuyer today to learn how this new legislation can help you achieve the American dream of homeownership.
Smitha Ramchandani is a licensed real estate professional at Weichert Realtors' Morristown West, New Jersey office. She is a Certified Buyer Specialist, and a Home Marketing Expert.. You can reach Smitha at: 973-953-7777 Mobile or 973-455-1900 Extension 122 (Office) or online at: http://www.Morris-Homes.com or http://www.TheTownhouseExpert.com or http://www.MorrisPlaceLiving.com or http://www.MorristownCourt.com.
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