$8,000 First-time Home Buyer Tax Credit at a GlanceThe $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase. The tax credit does not ...
Category Archives: $6500 Tax Credit
Existing Home Sales Rise – Even Around Atlanta
Note the previous post about the precipitous drop in New home sales and housing starts. Well, just the opposite happened with the existing home sales - resales are on the rise. And, existing home sales are rising quite well: As you can see, there has been a ...
First Time Home Buyer Definition
To receive the $8000 tax credit, you must be a first time home buyer. And, as is widely reported, a first time home buyer is anyone who has not owned a home in the past 3 years. Simple enough. Right? Well, no. My definition of not having owned a home in the past 3 years ...
$6500 Tax Credit, If You’ve Lived in Your Home 5 Years
Part of the new, expanded first time home buyer tax credit, is not for first time buyers at all. If you have lived in your home for 5+ years out of the past 8 years, and are now moving, then you will qualify for a ...