Raleigh Real Estate Group

Why is now a good time to buy a home? One reason would be that current market conditions are ideal for home buyers. Another reason would be the $8,000 tax credit to first time home buyers.

This is just a quick informational post. If you are thinking about purchasing your first home, you should make sure to find out if you are eligible for this $8,000 tax credit.

If you don't want to read all the dry details on the official site, here's the quick version. To get the credit, there are some income limits, $75,000 annually for a single individual, or $150,000 for couples filing a joint tax return. Even if your income exceeds these numbers, you can still get a partial tax credit adjusted by how far your annual income exceeds these numbers.

The house must be purchased between January 2009 and the end of December 2009. Properties are supposed to be in new or like new condition. There is a lot of lee way for this criteria, so a property needing a few repairs shouldn't prevent you from getting the property and claiming the tax credit.

If you do have any questions or need more information about this program, you can read about it on the official tax credit website here. You can also contact someone from Raleigh Real Estate Group. Good hunting!