$8,000 Tax “Gift” Extension Excites Home Buyers Anxious To Grab FREE Money!

$8,000 tax credit easily passes Congress, allowing more and more buyers to use their tax “gift” at closing for fees and down payment, says FHA and Fannie Mae.

Sarasota Realtor Mike Payne helps Canadians Dave & Alda buy their winter home!

$8,000 Tax Credit extension called “The Extended and Expanded Tax Credit Agreement” hopes to resuscitate a struggling economic recovery now burdened with commercial failures dropping like dominos.

Oh well, that’s another (depressing) topic. Right now, it’s party time!

Extended Tax “Gift” hands $8,000 to first-time homebuyers (those who haven’t owned a property in 3 years). It’s the same definition as current law.

But wait, there’s something new here:

Extended Tax “Gift” also allows for $6500 to repeat home purchasers, those who have used previous home as principal residence 5 of the 8 previous years. Naturally, there is an income limit of $125,000 for single filers/$225,000 for joint filers. Same for first-time & repeat/move-up buyer. You can’t buy a mansion & collect $6,500. Limitation on cost of home you purchase is  $800,000 if you want this gift, that is. Sorry!

This extension is good for December 1, 2009 to April 30, 2010 plus 60 Day extension if binding contract is in place by April 30, 2010

Last, Congress has added anti-fraud measures.

Great news, isn’t it? Of course, at the bottom of this press release is the dreaded small print, reminding all of us taxpayers (and future taxpayers all the way 3 or 4 generations from now that we/they are responsible for this HUGE tax burden. Oh well, somebody has to pay for the economic collapse created and exacerbated by BANKS, the FED, Congress & Alan Greenspan & Congress. What, you still believe those people getting subprime and investors and their NINJA loans caused this collapse? I pity your naivety.

$8,000 Tax Credit (gift) is extended and the housing recovery continues. If you want to buy or sell in the Sarasota, FL, or Orlando, FL, markets, please contact me. You can visit me at my real estate website at Sarasota Homes For Sale Now website. I would appreciate working with you to sell or buy. Please pardon the dust, though, as I’ve rebuilt the site and need to “flesh it out.” Are you angry about this tax credit? Please scroll down and leave your comment. Want to challenge me on who’s at fault for this collapse? Be my guest. However, it’s too late to point fingers, isn’t it? With that said, I apologize for bringing it up. It has no relevance any longer?

Welcome back! Got a question for me...or an experience to share? Please go to the bottom of this article to ask a question or share an experience. :) Thank you!

Check Out These Related Posts

• Sarasota REALTOR Reveals $8,000 “Gift” When Buying Home!
• Avoid Foreclosure ‘Miracle’ Saves Orlando Family’s Home!
• Sarasota Realtor Helps Investors & Families Avoid Foreclosure!
• Sarasota Realtor Discovers ‘Secrets’ Of Successful Short Sale Settlement & Finally Resuscitates His Dead Real Estate Business!
• Mortgage Free Home Owners Also Need 10 Questions To Interview A Potential Mortgage Person!

• Are 50% Discounts Becoming Common In Florida? Looks like the housing market is bad in more than just Miami. I just got this email from a real estate agent based in Florida regarding a Short Sale. We have several sellers ready to walk away from their property without a penny. We have begun negotiations with the sellers......
• Time Is Running Out To Get The $8000 First Time Homebuyer Tax Credit A few months ago we wrote for the first time about the $8000 first time homebuyer tax credit that the Obama administration passed as a part of the 2009 stimulus bill. The measure was aimed at helping to improve the real estate market that has taken such a huge hit......
• These 29 Tips To Help Save You Money Funny how when we look at money, financial affairs and wealth we often overlook some of the most simple things. For example what about cutting back on items or finding ways to save on the purchases of the items or services, I read this article in Readers Digest a couple......
• Significant 2009 Tax Break for Purchase of a New Vehicle /caption] The IRS just announced the new "above the line" tax deduction for the sales tax on the purchase of a NEW passenger vehicle contained in the latest tax bill just passed by Congress: IR-2009-30, March 30, 2009 WASHINGTON — The Internal Revenue Service announced today that taxpayers who buy......
• Win a $100 Home Depot Gift Card for Father's Day! Looking for that perfect gift for your hard-working Dad? If you're like most people, you can never think of something to give Dad for Father's Day. I will admit, Dads are not as easy to shop for as Moms. You can't go out and buy perfume, makeup, or jewelry for......