$8,000 First-time Home Buyer Tax Credit at a Glance • The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase. • The tax credit does not have to be repaid. • The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $8,000. • The tax credit applies only to homes priced at $800,000 or less. • The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify. • For homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly. • For homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit. The $6,500 Move-Up / Repeat Home Buyer Tax Credit at a Glance • To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years. • The tax credit does not have to be repaid. • The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $6,500. • The tax credit applies only to homes priced at $800,000 or less. • The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, the home purchase qualifies provided it is completed by June 30, 2010. • Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.
Repayment of tax credit: No, provided the buyer(s) own and occupies the home for three years or more. If the property is sold during the three year period, the full amount of credit must be repaid.
Don't forget, Buyers and Sellers more than ever need to select the right Realtor to represent their investments. Don't be afraid to ask questions.
It would be my pleasure to interview with any prospective Buyers and Sellers, please drop me an email or call. Feel free to take a tour of my website and bookmark for future reference it is a great resource for information.
For almost three decades Louise Schultz has been providing residents of Anne Arundel County with a very special brand of service based on her extensive knowledge and experience.
A key ingredient to her success and longevity is her ability to listen to Buyers and Sellers, and her persistence in following through until their goals have been achieved.
Success Doesn’t Just Happen It is built much like a home, first you build the foundation by which the house must stand. Louise as built her foundation with cutting edge technology, aggressive marketing strategies and is dedicated to the unique needs of each client she works with, which has earned her an outstanding reputation.
She continually asks for and receives referrals from past clients to continually build her business.
The Continual Pursuit of Excellence
Prior to coming into sales Louise was Vice President and Department Head of Baltimore Federal Financials Commercial Real Estate Division. In 1988 Louise joined the Severna Park Office of Long & Foster Real Estate, Inc. bringing with her a lifetime of experience and knowledge. Because buying and selling property has become increasingly complex, a keen understanding of real estate transactions is more important than ever. New technology, laws, procedures and sophistication of clients require real estate agents to perform at a higher level of professionalism. Louise continues to meet these challenges by education. She teaches “Fast Start” and in house training program for new agents as well as Mentoring. Louise has earned several designations and certifications.
Designations
GRI...Graduate of Realtor Institute CRS...Certified Residential Specialist PMN...Performance Management Network E-Pro Graduate RRC...Relocation Referral Certified SRES...Senior Real Estate Specialist Certified Buyer Representative Certified At Home with Diversity and One America
Volunteer Work
Fund Raiser for... Habitat for Humanity, SPAN, Harvest for the Hungry, Anne Arundel Scholarship Fund in association with Anne Arundel Community College
Professional Activities
Member of Professional Standards Committee • Anne Arundel County Association of Realtors • Long & Foster Real Estate, Inc
Anne Arundel Association of Realtors Director-1997, 2003-2004, 2005-2006
Vision Statement
“Excellence…Pure and Simple…Expect It”
Mission Statement
I will provide the highest quality of service to all of my clients through my continuous education, ability to change with the times and persistence to follow through. I will always take the time to listen to the needs of my clients to insure that their goals are reached, because after all "Our Goals are the Same".
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
