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Welcome to the premier online real estate site, designed to inform consumers on how to be a pro in the real estate market and avoid common pitfalls that are costly. The articles and tools throughout the site are FREE, with zero strings attached. Covering Edmond, and the Greater Oklahoma City Area including Nichols Hills, The Village, Piedmont, Moore, Mustang, and Yukon.
First Time Home Buyer Tax Credit President Obama just signed the stimulus package. We thought you may want to know how it could benefit you. This tax credit will apply to First Time Home Buyers and those who have not owned a home in the past 3 years. This tax credit, unlike the previous one, does not have to be repaid. The tax credit is equal to 10% of the homes purchase price up to a maximum of $8,000. It applies to First Time Home Buyers who purchase a home between Jan. 1, 2009 and December 31, 2009. For Single taxpayers with income up to $75,000 and Married taxpayers up to $150,000. Because the tax credit is "refundable," qualified buyers can take advantage of it even if they don't have much tax liability. Buyers have to own the home for at least three years in order to capitalize on the credit. If they sell the home before then, they will have to return the credit to the government. (Exceptions will be made in certain cases, such as death or divorce.) Combined with the low interest rates this may be a great time for you to buy!
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