Search Listings

First Time Homebuyers Qualify For An $8,000 Gift

One question that we have received at our Joe Manausa Real Estate office in Tallahassee quite often recently pertains to the First Time Homebuyer Tax Credit. People want to know what it is, where is the information on the program, who qualifies (meaning even if you have owned a home previously you might qualify), and what resources exist for people to find out more.

Today's post in the Tallahassee Real Estate Blog is a one-stop resource for the First Time Homebuyers Tax Credit. You will be able to understand the basic program by reading this, and you can also download several fact-filled documents on the tax credit.

What is the First-Time Homebuyer Tax Credit?

first-time-homebuyer-tax-credit-in-tallahassee

This tax credit is a dollar-for-dollar reduction in  what the taxpayer owes in income taxes. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and before December 1, 2009 and the taxpayer must meet the annual income requirements. For the purposes of tax credit, the purchase date is the date when closing occurs.

How much is the new Homebuyer Tax Credit?

The tax credit is equal to 10% of the qualified home purchase price, but the credit amount is capped or limited at $8,000. For many first-time homebuyers, this means the credit will equal $8,000.

Who is eligible for the tax credit?

A "first-time homebuyer" is defined as a  buyer who has not owned a principal residence during the three-year period prior to the purchase.

Does the tax credit need to be repaid?

No, homebuyers will not be required to repay the credit to the government, as long as the purchase is made between January 1, 2009 and December 1, 2009. This tax credit is designed to help make home buying possible for first-time buyers. Consulting with a tax professional is recommended before the tax credit is used.

More Information And Resources About The First Time Homebuyer Tax Credit

subscribe-to-the-exclusive-tallahassee-real-estate-newsletter

Subscribe in a reader Subscribe by email

As a reminder for those who subscribe to the Tallahassee Real Estate Blog by email, some embedded pictures and videos might not be appearing in your email and you might need to click the title header to go to your browser where all will be visible. Additionally, if you would like to respond (leave a comment) to this article, you will need to “click through” to the blog site to post your feedback.

Keep checking out the Tallahassee Real Estate Blog every day for updates that include charts, graphs, and analysis of the Tallahassee real estate market.

If you like this Article then please subscribe to my blog through a full RSS feed, or you can Subscribe by Email.You will be able to stay informed about the happenings in the Tallahassee Real Estate Market.
Joe Manausa is a real estate investor and the Broker and Co-Owner of Joe Manausa Real Estate. He can be reached via e-mail through the Tallahassee Real Estate Website or catch his latest writings on the Tallahassee Florida Real Estate Blog , or by calling (850) 386-2001.
View Joe Manausa's profile on LinkedIn

Please Do Us A Small Favor

We work very hard to produce daily content for our long-time readers and first-time visitors. We provide this information for free, hoping to earn your respect and trust and the right to one-day help you when selling or buying a home. Can we get your help spreading the word about our blog?

If you like the content, would you please like it or share it using the Facebook button at the beginning of the post? This simple action will be greatly appreciated! THANK YOU!

Please Like Us And Share On Facebook - Help us grow our brand!

Also like us on Facebook at https://www.facebook.com/joemanausarealestate/

Your Local Expert In Tallahassee

Do you have a question on the Tallahassee real estate market? If so, you can leave a comment below, give us a call at (850) 366-8917, or drop us a note and we'll give you the local information needed to ensure a successful, smooth transaction.

As a local born and raised in Tallahassee with a focus on customer service, I promise you'll find great success when working with Joe Manausa Real Estate, just as have our past customers. You can read thousands of their reviews reported on Google, Facebook and Zillow right here: Real Estate Agent Reviews Tallahassee.

The digital marketing guide for small businessesHave you heard about my new book "The Business of Getting Business?" It's a comprehensive guide for small businesses to help them make the move to digital. For those of us who want to survive and thrive in a world where large corporations are taking over, it is a must-read. It's also the perfect guide for how to sell a home in the digital age. You can go to Amazon (a trusted digital retailer) to get a copy delivered directly to your home.

 

Real Estate Agent reveals in Tallahassee, Florida

Think all REALTORS are alike?

Read what people are saying about working with Joe Manausa Real Estate! You can see thousands of real customer reviews reported on Google, Facebook and Zillow at this link: CLICK HERE FOR REAL ESTATE AGENT REVIEWS.

Post a Comment

Blog Navigation

Posts By Category

All Categories Advice: Real Estate (495) Blogging Real Estate (187) Distressed Property (32) Foreclosures (4) Glossary of Real Estate Terms (33) Government and Real Estate (31) Homes For Sale (156) Housing Market Conditions (1265) Housing Report (54) Lis Pendens (4) Main (1018) Mortgage / Finance (74) New Construction (19) Off Topic (87) Our Listings (3) Our Sales (7) Real Estate Market Snapshot (26) Real Estate Opinion (3) REALTOR News (11) Tallahassee (90) Tallahassee Neighborhoods (632) Uncategorized (50)

Posts By Month

Blog Roll

Luxury Homes For Sale New Construction Homes For Sale Homes For Sale With Swimming Pools Homes For Sale On Acreage Homes For Sale In Golden Eagle Plantation Homes For Sale In Killearn Lakes Plantation Homes For Sale In Killearn Estates Homes For Sale In Southwood Homes For Sale In Killearn Acres Homes For Sale In Summerbrooke Homes For Sale In Piney Z Homes For Sale In Bull Run Homes For Sale In Betton Homes For Sale In The Ox Bottom Area

Tag Cloud

Grab Our RSS Feed

Tallahassee Home Searches

Contact Us

Joe Manausa Real Estate
1934 Dellwood Drive
Tallahassee, FL 32303
(850) 366-8917