Realty News March 2009
(504) 343-3387 Cindy@NOLAWestbankHomes.com www.NOLAWestbankHomes.com
New First-Time Homebuyer
Tax Credit!
Photo: © Ericsphotography - iStockphoto
The recent $787 billion economic stimulus bill includes an $8,000 first-time homebuyer tax credit. If you are familiar with the $7,500 tax credit for last year, the new $8,000 tax credit is similar, but with some improvements; the tax credit doesn’t have to be repaid, the home purchase date has been extended, and there is a $500 increase in the credit amount. It’s not a big change, but for those ready to buy, the new tax credit is an added incentive.		 Here are the new qualifications:

  • The home must be purchased on or after January 1, 2009 and before December 1, 2009. People who purchased a home last year are covered by the $7,500 tax credit and are not eligible for the $8,000 tax credit.
  • If you keep your home for at least three years, the tax credit doesn’t have to be repaid.
  • The tax credit is only available to homebuyers who have not owned a home as a principal residence in at least three years. A vacation home is not considered a principal residence.
  • There are income restrictions. If your modified adjusted gross income (MAGI) exceeds $75,000 for singles and $150,000 for married taxpayers, you may be eligible for a partial credit.
  • This tax credit is refundable, meaning you can receive it as a tax refund after filing your federal tax return.
Featured Listings
613 - 615 Hancock Street
Taking Back-up Offers
Detached Double
Great Investment Property
Click to See Visual Tour		 Gretna Shotgun For Sale
1334 Monroe Street
2 BR/ 1 Bath
Great for Investment
Click to See Visual Tour		 Home For Sale Belle Meade
816 Ginette Street
4BR/ 2 Baths OR 3BR +
Office w/ Private Entrance
Click to See Visual Tour		 NEED TO SELL YOUR HOME?
Your HOME Can Show HERE!
Contact Me Today!
Cindy@NOLAWestbankHomes.com
504-343-3387
Cindy M. Tuck  -  (504) 343-3387Office: 504 207-2007 Ext 227 Realty News  -  March 2009 

Cindy M. Tuck, Keller Williams Realty Crescent City Westbank Partners, 1601 Belle Chasse Hwy, Suite 101 , Gretna LA 70056
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The material in this publication is provided for your informational purpose only and is not intended to substitute professional advice.
If your property is currently listed with a Real Estate Broker, this publication is not intended as a solicitation.
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