Bringing the Dream of Homeownership Within Reach As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers.
Here is more information about how the 2009 First-Time Home Buyer Tax Credit can help prospective home buyers become part of the American dream.
Breaking news: Tax Credit Can Be Used on Closing Costs.
Who Qualifies? First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.
To qualify as a "first-time home buyer" the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
Which Properties Are Eligible? The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Will the Credit Be? The maximum allowable credit for home buyers is $8,000. Each home buyer's tax credit is determined by two factors:
The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.
The buyer's income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.
If the Buyer(s)' Income Exceeds These Limits, Can He/She Still Get a Credit? Yes, some buyers may still be eligible for the credit.
The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $95,000 for singles and over $170,000 for couples are not eligible for the credit.
Will the Tax Credit Need to Be Repaid? No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.
ZIP Codes: 29036, 29063, 29272, 29172 Location Characteristics: Capital of South Carolina, with University of South Carolina and Fort Jackson. Easy access to Charlotte, Charleston, Myrtle Beach, Atlanta, GA and Florida.
About Jeffrey P. Emmerling:
Sometimes you just know . . .
When it's as good as it gets.
After 11 moves and 7 states, I discovered the secret of lake living. Life is short, so by living each day to the fullest and spending time with family and friends, I found living here, in the Lake Murray area, is as good as it gets.
Looking back, I remember the moment, nearly twenty years ago, when I found out I was moving to the south. I left the fast lane and began a steady pace. I discovered the meaning of community and down-time—embarking on a journey that will last a lifetime. With beautiful Lake Murray at my front steps, sandy beaches and rolling mountains at my fingertips, my passion for family and community changed my perception of what it means to live.
To fill you in on my life, moving had always been a way of life for me. Never staying in one place long enough to put down roots, I have lived from California to Ohio and several places in between by the time I had finished high school. After graduating from Ohio State University with a BS degree in Business, I accepted a position selling mechanical tubing and continued to move. I was in Indiana when I met my wife Linda and we were married in 1980. From mechanical tubing, I moved on to selling Titanium to selling water filtration. From the mid-west, my growing family moved to New Jersey. Each move had its share of heartache and yet a sense of adventure. And then, I was asked to move yet again, and this time to the South. I jumped at the opportunity to move to a warmer climate and was told I could move as far south as Atlanta. Well, I did move as far south as Atlanta, but much further east. To Lake Murray, South Carolina, to be exact.
The move to the Lake Murray area turned out to be the move of a lifetime. Here I found a community based on traditional morals and values. A place where nothing is more important than your word, and where life is about giving, not taking. The first year in Lake Murray was full of surprises for me, Linda, and our three children. New friends from the community invited us to cookouts, high school sporting events, the Chapin Labor Day Parade and the Irmo Okra Strut. By the end of the first year, I knew that my family had found a community so special that we would never leave.
The Lake Murray area is a special place and I am always ready to share my enthusiasm for the "relaxed lifestyle" it offers. As one of the area's most respected real estate agents, my clients benefit from the experience I acquired in my many moves. I am known for my patience and diligence in helping families find the perfect home.
If you're buying or selling real estate in the Lake Murray area, call me, Jeff Emmerling, to take care of you.
Buying a home? I look forward to helping you select the home of your dreams by taking time to listen to your needs and desires.
Selling a home? My real estate expertise and many effective marketing programs will give you the exposure and edge you need to sell your home quickly for top dollar.
Returning Client? I appreciate the opportunity to continue to serve you and hope you take advantage of the valuable resources I provide. Come back to visit often!
I consider this community an excellent place to reside and would love to share with you my enthusiasm for the many neighborhoods that encompass it. I pride myself on providing unparalleled service and look forward to developing a long-term relationship with you. Please feel free to contact me if you would like to discuss how I can best assist you with your real estate needs.
Sincerely,
Jeff Emmerling
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
