Tax Credit Has Been Extended!

Key Details

In many ways, the new version of the HTC is superior to the expiring credit.

  • It extends the HTC until April 30, 2010.
  • Perhaps even more important, the HTC is now expanded to provide a $ $6,500 credit to current home owners purchasing a new or existing home between November 6, 2009 (the date the new HTC takes effect) and April 30, 2010, provided that the current homeowners have used their existing home as their principal residence for five consecutive years within the last eight years.
  • HTC may be used to purchase many types of homes as long as they are used as primary residences. Purchases of single-family detached homes, townhouses, condominiums and cooperatives qualify for the favorable tax treatment.
  • First-time homebuyers qualify for a slightly higher tax credit. HTC allows homebuyers who have not owned a home for the three previous years to qualify as first-time homebuyers.

Key Limitations

  • The credit may be used on home purchases valued at no more than $800,000.
  • The income limits have been expanded by the new HTC. Under the new HTC, individuals with incomes not to exceed $125,000 and married couples with incomes up not to exceed $225,000 are eligible for the full tax credit. The credit phases out for incomes up to $145,000 and $245,000 respectively.

Welcome to Georgia Renaissance Realty, your source for Decatur & Georgia real estate. We are a small firm of experienced and creative real estate agents that understand and embrace today's market.

Our backround is in residential construction and real estate investing, so we know houses and have seen all types of ways to make deals work. Let us know how we can help.

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Buyers: We assist you in locating a new home that fits your wants, needs and desires and walk you through the process and protect your interests and help you use all the benifits that are available today.

P.S. Today's market is interesting and exciting as never before, and the way to navigate it is with an agent looking out for your interest - someone who understands there is more than one way to do things. If you tell me what you need, I can find a way to make it happen - even if others have said it can't .

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