Home Buyers Tax Credit Deadline Quickly Approaching!

DEADLINE QUICKLY APPROACHING FOR FEDERAL HOMEBUYER TAX CREDIT
Transactions must be under contract by April 30, 2010
CARSON CITY, NV ? March 15, 2010 ? Homebuyers looking to take advantage of the federal homebuyer tax credit, must act fast! If you are in the process of purchasing a new home, or are just starting to look at buying a new house, the tax credit deadline for the home to be under contract is April 30, 2010, and the closing must be completed by June 30, 2010.
It is important to note that there are two tax credits available ? an $8,000 tax credit for first-time homebuyers and a $6,500 tax credit for repeat buyers for homes priced up to $800,000. In order to quality for the repeat buyer credit, the homeowners must have lived in their house for five consecutive years. Income caps are $125,000 for single buyers and $225,000 for married couples.
“This is an opportune time to purchase a home,” remarked Dan Smith, President of the Sierra Nevada Association of REALTORS?, and REALTOR? with the Smith Team at Coldwell Banker Best Sellers in Carson City, Nevada. “There are many incredible values on the market in the Carson City area and surrounding communities, and receiving a federal tax credit is an added bonus. Anyone considering purchasing a home this year, should take the time to get out there and take a look.”
For more information regarding these tax credit opportunities, please visit: http://www.irs.gov/newsroom/article/0,,id=206291,00.html
The Sierra Nevada Association of REALTORS? is a professional organization supporting REALTORS? in the Sierra Nevada region, including the counties of Carson, Douglas, Churchill and Lyon (except for Fernley). Committed to building better communities throughout the region, the Association provides members with expert guidance and professional tools enabling them to deliver superior service to residents and newcomers; and to participate in the political process to protect the industry and private property rights. For more information about Sierra Nevada Association of Realtors, please visit www.snar.org or call: 775.885.7200.

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