Tucson Kent's World

Give Yourself A Present in 2010 - Tucson Weather & Incentive To Buy A Home

Living through a Tucson Winter can be pretty delightful - especially when you are getting a fat check from Uncle Sam for buying a home! 

 

 

Sure - folks have probably already heard about the extended tax credit for homebuyers...but lets get one thing very clear:  it isn't just for first time homebuyers anymore.  With Tucson's home prices making the real estate market virtually "ON SALE" - and getting up to $8000, first time homebuyers can really give themselves a nice present.

Current homeowners looking to upsize or downsize can get up to $6500...and you don't have to sell your current home (but you do have to move into the new purchase).  Perhaps that's the way to give yourself an investment property and the home you want at the same time?!?

Anyhow, for details, give me a call or shoot me an email.  Lets enjoy a dip in the pool or a round of golf while discussing your needs - yes, even in winter.

Merry Christmas to everyone!

TucsonKent Signature
Specializing in Buyer & Seller Representation in the Tucson, Arizona real estate market.


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All original material written by Kent Simpson unless attributed to source.©2011, 2010, 2009,2008,2007

"Never forget - Real Estate Is About People"

 

Homebuyer Tax Credit 2008 - How The Payback Provision Works

Ever since I heard about the $7500 tax credit actually being an interest-free loan that had to be paid back in 15 years--finding out how the payback works has been a serious challenge!

Light bulb over headPerhaps I've been looking in the wrong places, but FINALLY I found some answers on how this is going to work:

  • 2 years after the credit is taken, you pay it back $500 per year.
  • If you sell the home before the credit is paid back, the entire amount is due upon closing.

What's the benefit of a credit if you have to pay it back anyway?  Simple--money today is worth more than money you pay back tomorrow.  Money loses its purchasing power over time due to inflation (the Time-Value principle of economics).

scractching chin, wonderingI am still curious about the method of repayment though--will people send a check to the government or will it be a charge added to their tax bill?

*Update* The method of repayment is $500/year via your federal taxes.  EX:  if you are going to get a $700 refund, the government will keep $500 of it.  If you owe $1000, you will now owe $1500.  However, these provisions are going to be under debate and subject to change with the change of administration in 2009.

TucsonKent Signature

 

 

Kent Simpson REALTOR®, e-Certified®, AHS® (with The Pepper Group™ Diversified Real Estate): Real Estate Agent in Tucson, Pima County, Arizona web counter

TucsonKent Signature
Specializing in Buyer & Seller Representation in the Tucson, Arizona real estate market.


Visit our facebook pageLink to our YouTube Channellink to Kent Simpson's LinkedIn profileFollow the TucsonKent Group's Twitter Feed
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web counter

All original material written by Kent Simpson unless attributed to source.©2011, 2010, 2009,2008,2007

"Never forget - Real Estate Is About People"