IMPORTANT UPDATE - $8,000  IMPORTANT UPDATE - $8,000  IMPORTANT UPDATE

HOT OFF THE PRESS

The President has signed an extension and expansion of the Home Buyer Tax Credit.  First time and experienced buyers have until April 30, 2010 to have a valid purchase agreement in place.  The sale must close by June 30, 2010.  First time buyers continue to get up to $8,000 and up to $6,500 for buyers that owned a home for 5 of the last 8 years. As always, it is best to consult a tax attorny or CPA for verification on whether the credit can be claimed on your 2008 taxes. Based on reviewing the new form, it appears to me that a home purchased in 2010 will be eligible for this credit in the filing of tax returns for 2009's income (See "Homes purchaed in 2010 instructions).  Thus, it may be possible that the $8,000 (non-repayable) tax credit could more than offset the 3.5% investment necessary for down payment - even before the purchasers first house payment becomes due.  As with most closings in March, the buyers first house payment would not be due until May 1st.  Additionally, a first-time home buyer could put $2,800 down on a $80,000 home (3.5%) and receive the $8,000 tax credit after filing their 2009 Federal tax return before April 15, 2010..  to review the new IRS tax form #5405, click here.

RE/MAX RESULTS John Pisarkiewicz Associate Broker 989-239-6406 www.CallJohnnyP.com

This is the year to buy real estate!!!

*    We have home prices that we haven't seen since last       century   *    Interest rates look like its 1964 again. *  The government is PAYING YOU to buy a home ...       up to $8,000.

What are you waiting for?

If you know someone who has not owned a home in three years, they qualify as a first-time home buyer and this tax credit applies to them.  Please forward this information to them or have them call me at 989-239-6406 or email JohnPisark@hotmail.com