Aug 25, 2009

First Time Home Buyer Tax Credit Expires Nov. 30th

The current $8000 tax credit for first time buyers will expire on November 30th 2009.

Some legislators and real estate industry associations are pushing for an extension. Many would like the credit increased to $15,000 and expanded to all buyers not just first time buyers. There is no saying what Congress will do when it returns from vacation next month.

The current $8000, tax credit for first time home buyers that earn less than $75,000 per year ($150,000 on a joint return).
  • Individuals with incomes between $75,001 and 94,999 (single) or $150,001 and $169,999 (joint returns) are eligible for a partial tax credit.
  • Individuals with incomes greater than $95,000 (single) or $170,000 (joint return) are not eligible for this tax credit.
In NYC a coop purchase can take up to 90 days from a contract signing to a closing. Now is the time to buy to receive the first-time buyer tax credit.

click here to receive Manhattan apartment listings


1 Response to " First Time Home Buyer Tax Credit Expires Nov. 30th "
  1. Patrick said...
    March 04, 2010

    Thank you for the kind words regarding real estate. I am humbled by this.

Post a Comment

All related comments are welcome. Spam will be deleted.


This blog site is designed and published as a consumer service by local real estate broker to help Manhattan, New York City buyers, sellers and renters make informed real estate decisions. This site and its feeds are owned and operated by Mitchell J Hall, a NY State licensed real estate associate broker associated with The Corcoran Group and member of the Real Estate Board of New York.

Legal Disclaimer - The opinions expressed here are those of the authors and do not neccessarily reflect the opinions or policy of The Corcoran Group. This site is not the official website of The Corcoran Group or its affiliated companies, and neither The Corcoran Group nor its affiliated companies in any way warrant the accuracy of any information contained herein. Any product and/or services offered for sale on this website shall not be considered an offer to sell such goods and/or services in any state other than New York.

Legal Disclaimer - Information on this site is not intended as legal or financial advice. - All material herein is intended for information purposes only and has been complied from sources deemed reliable. Though information is believed to be correct, it is presented subject to errors, omissions, changes or withdrawal without notice. I operate a business that supports Fair Housing.“We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. We encourage and support an affirmative advertising and marketing program which there are no barriers to obtain housing because of race, color, religion, sex, handicap, familiar status or national origin.”

© Copyright 2006 -2016 © © Al l Rights Reserved