« Nevada Foreclosure Filings Continue to Fall | Home | Home Affordable Foreclosure Alternatives Program (HAFA) »
Homebuyers Rush for Tax Credit
By Stephen Roberts | December 28, 2009
First-time homebuyers make up a large percentage of the home sales here in the Las Vegas and Henderson Valley. Many tax preparers are busier than normal during this offseason due to congress’ extension on the $8,000 credit for first-time homebuyers last month. Congress also expanded it to other buyers who can receive up to $6,500. It has been stated that the expansion of the tax credit has created some confusion among the buyers who have tried to file for this tax credit. The $6,500 tax credit only applies to those who closed November 6 or later, many people did not realize this, leaving many people to believe they were qualified for the tax credit. The tax credit has been extended until April 30 of 2010, with the purchase required to be completed by June. Congress will likely have to act for the credit to be extended beyond that date. The homeowner must also live in the home for 36 months or they must repay the tax credit. Many first time homebuyers have been seeking help from tax preparers on this issue, bringing in more business than normal during this home buying off season.
For all your Real Estate needs contact Steve Roberts at 702-739-4392.
Topics: First time homebuyer tax credit, Henderson Nevada Homes, Holiday Season, Homebuyer tax credit, Las Vegas Nevada Real Estate, Southern Nevada Monthly Economic Update, Summerlin Nevada Real Estate | No Comments »