review

ESTATE

$8,000 First-time Home BuyerTax Credit Facts

•The $8,000 tax credit is or frst-timehome buyers only. For the tax creditprogram, the IRS defnes a frst-timehome buyer as someone who has notowned a principal residence duringthe three-year period prior to thepurchase.•The tax credit does not have tobe repaid unless the home is soldor ceases to be used as the buyer’sprincipal residence within three yearsater the initial purchase. •The tax credit is equal to 10 percento the home’s purchase price up to amaximum o $8,000.•The tax credit applies only to homespriced at $800,000 or less.•The tax credit now applies to salesoccurring on or ater January 1, 2009and on or beore April 30, 2010.However, in cases where a bindingsales contract is signed by April 30,2010, a home purchase completed byJune 30, 2010 will qualiy.•For homes purchased on or aterJanuary 1, 2009 and on or beoreNovember 6, 2009, the income limitsare $75,000 or single taxpayers and$150,000 or married couples fling jointly.•For homes purchased aterNovember 6, 2009 and on or beoreApril 30, 2010, single taxpayers withincomes up to $125,000 and marriedcouples with incomes up to $225,000qualiy or the ull tax credit.

$6,500 Move-Up / RepeatHome Buyer Tax Credit

•To be eligible to claim the taxcredit, buyers must have owned andlived in their previous home or fveconsecutive years out o the last eightyears.•The tax credit does not have tobe repaid unless the home is soldor ceases to be used as the buyer’sprincipal residence within three yearsater the initial purchase.•The tax credit is equal to 10 percento the home’s purchase price up to amaximum o $6,500.•The tax credit applies only to homespriced at $800,000 or less.•The credit is available or homespurchased ater November 6, 2009and on or beore April 30, 2010.However, in cases where a bindingsales contract is signed by April 30,2010, the home purchase qualifesprovided it is completed by June 30,2010.•Single taxpayers with incomes upto $125,000 and married couples withincomes up to $225,000 qualiy or theull tax credit.

Source:www.federalhousingtaxcredit.com

Hurry! Time is Running Out!

Facebook & YouTube

Visit us on Facebook and YouTube today to viewvideos of our listings, keep up with the latest realestate news, and much more!

MARCH-APRIL 2010 • COLDWELL BANKER REEHL PROPERTIES, INC • WWW.REEHLPROPERTIES.COM

R     P        

B     ’ G    

Co ld we l l B a n k e r R ee h l P ro pe r t ie s, I nc w w w. ree h l p ro pe r t ie s.co m

D A P H N E O F F I C E

9 9 01 T i m be rc ree k B l vd D a p h ne, A L3 65 2 7 To l l F ree:8 6 6 - 6 21 -111 0

F A I R H O P E O F F I C E

2 41 9 0 U S H w y 9 8 F a i r ho pe, A L 3 65 3 2 To l l F ree: 8 0 0 -9 6 0 - 6 6 2 2

E v e r y D a y U n t i l I t ’s S o l d

M o r e i n f o r m a t i o n o n t h i s l i s t i n g o n p g. 15

N o v e m b e r 2 0 0 9

revi

ESTATE

Online Buyer’s Guide

You’ve got to see it to believe it! Log on to ourWeb site to see our Digital Edition, which allowsyou to virtually “ip” through every single page ofthe Buyer’s Guide.