If you purchase a home by April 30, 2010 and close by June 30, 2010, you may qualify for one of the two available tax credits. The first-time homebuyer credit is for buyers who have not owned a home during the last 3 years. The other credit is for current homeowners who have used the home they are selling or vacating for 5 consecutive years within the last 8 years. The credit is 10% of the purchase price of the home up to $8,000 for first-time homebuyers and $6,500 for current homeowners.

There are only two other considerations:

1. The home you purchase must be $800,000 or less.

 2. If your income for a single person is up to $125,000 or $225,000 for married people filing jointly, you will qualify for the full credit.

To make it easy for anyone considering taking advantage of the credit, Davidson Realty is hosting a Tax Credit Open House at our office every Saturday from 10:00 AM until 2:00 PM. There will be a mortgage professional and Realtors available to answer any questions, make sure what type home you could qualify for and review communities or individual homes. There is also an information package available that you can pick up any time.

There is also a first-time homebuyer seminar at the Davidson Realty office building on March 2 at 7:00 PM hosted by Ron Gelinas of BB&T, Michelle Gonzalez an agent with Davidson Realty and myself. I hope to see you then. If you can’t make it, feel free to call me anytime at 904-940-5000 with questions about the tax credit.