Davidson Realty, Inc.

Home Buyer Tax Credit Extended!

November 16, 2009

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Posted by in News

Sherry DavidsonDavidson Realty has been working with many first-time buyers looking for homes in St. Augustine that have been unable to close by November 30, 2009, which would prevent them from qualifying for the awesome tax credit of $8,000. This was a huge problem for families taking advantage of the great pricing on short sales in St. Augustine. The lenders are getting better, but the short sale process can still be very lengthy.

But now there is good news for all of these buyers that are unable to close by November 30th. The tax credit for first time homebuyers has been extended so that you as long as you sign a contract to buy a home before April 30, 2010 and close on your home by June 30, 2010, you are eligible for the $8,000 credit.

The new law now allows existing homeowners to qualify for a $6,500 tax credit. If you sell a home that was your principal residence consecutively for 5 of the last 8 years and purchase a new home by April 30, 2010, you may qualify for the $6,500 credit. This new provision will help give incentives to move-up buyers, providing all home buyers with a tax credit.

The income limits to qualify for the credit have also been increased to $125,000 for single taxpayers and $225,000 for married taxpayers. If you have been considering a new home, please see if you qualify for this new credit and don’t miss out on a great opportunity that is only available for a short period of time. If you have any questions about the tax credit‘s new provisions, we are happy to answer them.

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About the Author
Sherry Davidson
President of Davidson Realty

Since launching Davidson Realty in 1989, Sherry Davidson has built the firm to include nearly 60 agents and exceed $100 million in annual sales. She is known throughout the First Coast as an authority on all things residential real estate, having served on the Board of Directors for Northeast Florida Association of Realtors, Florida Realtors® (a division of the National Association of Realtors), and Builders Care (charitable arm of Northeast Florida Builders Association).

Thanks to Sherry’s leadership, Davidson Realty has been recognized as one of the state’s Best Companies to Work For (Florida Trend Magazine), as well as one of the region's Best Places to Work and 50 Fastest Growing Companies (Jacksonville Business Journal). Get to know Davidson Realty’s talented team of agents by clicking here or call us at (904) 940-5000.

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