Charleston, SC Posts

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Who can take advantage of the $8000 credit?- It's not just for 1st time homebuyers!

The $8000 "FIRST TIME" Home Buyer Tax Credit in not just for your traditional first time homebuyer.  first time homebuyer tax creditAnyone who has not had any ownership interest in a home in the last 3 years qualifies!  If you previously owned a home but have not owned a home in the past 3 years, you can take advantage of this opportunity!

You must close on the home between January 1-November 30, 2009.

It has to be an owner occupied residence.

The tax credit is $8000 or 10% of the purchase price, whichever is less.

Tax credit on 2008, 2008 amended, or 2009 return.

IRS will issue a refund check if the tax credit exceeds your tax liability.

There are income restrictions:  $75,000 adjusted gross income for a single tax payer or $150,000 adjusted gross income for married couples filing a joint return (and partial credit for those with incomes up to $95,000/single and $170,000/couple).

It only applies to single family detached homes, condos and townhouses.

The home may not be sold within 3 years or the tax credit must be repaid.

 

Inventory selection is high.  Interest rates are low.  There couldn't be a more perfect time to investigate the option of owning your own piece of the Lowcountry.

 

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Michele Reneau - Military Relocation Specialist with Carolina One Real Estate in Charleston, SC.

Contact Michele Reneau, Top Real Estate Agent, North Charleston, SC Relocation Expert, CRS, GRI, ABR. Licensed Realtor® in South Carolina at 843-572-0518 to list your property for sale or to purchase real estate in Charleston, Goose Creek, Summerville, North Charleston, Hanahan, Mount Pleasant and the surrounding areas in Charleston County, Berkeley County or Dorchester County, South Carolina.  Featured on HGTV's House Hunters. Publisher/Author for Charleston Real Estate Update  including featured listings and sold properties, and monthly statistics on Charleston Real Estate MarketThe Charleston Relocation Expert specializes in military relocation, first time homebuyers and creating marketing exposure to sell your home in the Charleston SC Real Estate market.  I can also be contacted by email at mreneau@carolinaone.com. To view all Charleston Metro area houses for Sale Click Here and then click on Search for Homes.  With over 25 years of Lowcountry Living, I know the Charleston Metro area. I will help you get your home sold and/or help you buy your Charleston home or land.

Michele Reneau, ABR, GRI, CRS

www.CharlestonRelocationExperts.com

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Comment balloon 3 commentsMichele Reneau • March 05 2009 05:38PM

Comments

How did you get the picture to wrap around the words in your blog?

Posted by Bruce & Sandy Soli, Tahoe Lifestyle Experts (Sierra Sotheby's International Realty) over 9 years ago

This is good to know Michele. Most people probably are not aware of this..

Posted by Michael Wayne Jackson, Realtor - Senior Real Estate Specialist (Coldwell Banker) over 9 years ago

Good stuff...there's so much confusion as to what it entails.  Nice clarification.

Posted by Larry Bettag, Vice-President of National Production (Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759) over 9 years ago

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