The American Recovery and Reinvestment Act signed into law last month has provisions that will benefit home buyers and the housing market. Primary among them is the $8,000. Home Buyer Tax Credit. This tax credit is for first-time home buyers (defined as a homebuyer who has not owned a primary residence in 3 years). Some points to remember:
* Tax credit does not have to be repaid
* Tax credit is equal to 10% of the home's purchase price, up to a maximum of $8,000.
* Credit is avilable for homes purchased on or after Jan 1, 2009 and before Dec 1, 2009
* Single taxpayers with incomes up to $75,000. and married couples with incomes up to $150,000. qualify for the full tax credit
I have several clients who qualify for this tax credit and its a great incentive to buy a home on Pine Island in 2009. Here are photo's of two island homes: above left is the best priced Bokeelia single family home near marinas and the golf course that is listed for $99,000. Above right is a Bokeelia waterfront 3 bedroom cottage on a deep water gulf access canal, listed for $289,000.
To find more out about the Tax Credit, go to: http://www.federalhousingtaxcredit.com/. To find out more about Pine Island real estate, contact me, Erika Foye, at erikafoye@embarqmail.com or go to http://www.pineislandhomesandland.com/.
