Santa Clarita Valley Real Estate

The federal tax credit for home buyers was extended and expanded late last year. Qualified first-time buyers may be eligible to receive a tax credit of up to $8,000 on homes purchased before April 30, 2010. Repeat buyers may be eligible for a tax credit of up to $6,500. Click here for more information about the federal tax credit for home buyers, including eligibility requirements. To receive the tax credit, home buyers must comply with the IRS’s documentation requirements, including a fully executed IRS Form 5405. On the form, which is available on the IRS’s Web site, taxpayers provide information supporting their claim of eligibility, such as income and home purchase date. LA Times story The IRS also requires home buyers to submit a copy of the closing or settlement statement that proves the transaction took place. The IRS previously said that the statement should show “all parties’ names and signatures, property address, sales price, and date of purchase.” H

New Opportunities for Qualified Home Buyers! Federal tax credits of $8,000 or $6,500 are available now. There’s good news for you and for qualified home buyers. Effective now through April 30, 20101, qualified first-time and repeat or move-up home buyers may be eligible to receive a federal tax credit from their new home purchase. Below are some of the key program highlights: • Up to $8,000 tax credit for qualified first time homebuyers • Up to $6,500 tax credit for eligible repeat / move-up homebuyers • $800,000 maximum purchase price (primary residences only) • No repayment of tax credit required3. Weichert, Realtors – Hoshaw & Associates is committed to responsible and professional real estate representation. As buying, selling, financing, bank owned and distress sales specialist, you can count on us for up-to-date information, and clarification of all your questions and concerns for your best situation and outcome. For a personal consultation about your rea