#1 Home Buyer Tax Credit!
The home buyer tax credit was extended to April 30th, 2010, & expanded to include home owners as well as first time home buyers. First time home buyers can receive up to $8,000 tax credit and current owners can receive up to $6,500 if you buy before April 30th, 2010 and close before Mid June 2010.
#2 Mortgage Rates Are Low, for Now!
With a decent credit score (625 or higher) and a solid job, you can get an FHA home loan with as little as 3.5% of the purchase price as a down payment. That down payment can be a gift from a non-profit or a relative. Rates can be as low as 5% fixed for 30 years for qualified buyers. The Federal Government has already announced that they will discontinue purchasing mortgage-backed securities, artificially pushing mortgage rates down.
#3 Boulder Property Prices Low, Low, Low!
There are a lot of properties to choose from as the inventory is high and prices are very competitive. Some are showing instant equity. Buy now while the loan rates are smart and you can take advantage of the tax credits.
I can help negotiate the deal of your dreams. Give me a call. I can help you. Michael Hughes
303-359-6627 or you can email me at email@example.com or visit my website at www.bolderrealestate.com
Filed under #1 place to thrive, 2010, bail out, best place to live, Boulder Economy, increasing interest rates, interest rates, jobs, mortgage, real estate, relocating, relocating to boulder
By Michael Hughes
Great news for Boulder County real estate. Congress approved the extension and expanded the homebuyer tax credit to further stimulate the housing market. The date has been extended to April 30th, 2010 (originally scheduled to end November 2009). The tax credit requirements have been expanded to include current home owners as well as first time home buyers, and it now includes people earning a higher income as well (up to $125,000 for singles and $225,000 for married couples compared to $75,000 and $150,000).
The tax credit amount can be up to $8,000 for first time home buyers and up to $6,500 for current home owners who decide to move. The amount is determined by the price of the house and by the purchaser’s income. The tax credit applies for homes purchased up to $800,000. There are plenty of homes in Boulder for sale at this price range.
As a current home owner, you qualify for the tax credit if you have lived in the house you now own, for at least five consecutive years within the past eight years. Even if you’ve owned property in the past you may still qualify as a first time home buyer if you have not owned your primary residence for the past three years. Call Michael Hughes to get an honest home evaluation to see what your home could sell for today, and what else is available for you in and around Boulder.
Hopefully the great interest rates we are experiencing will hold. Right now is the best time to buy, and if you need to sell it’s a good time to secure the increased number of buyers out there due to the tax incentives and low interest rates.
Contact us today if you or anyone you know needs real estate help….
e-Mail firstname.lastname@example.org Direct 303-359-6627 Website:www.bolderrealestate.com