da Vinci Realty Blog: Tax credit for First Time Homebuyers!!!

I am very excited about the revamped tax credit for first time homebuyers that was included in Obama's recovery package.  Now that it doesn't need to be paid back to the government, which I thought was ridiculous, I believe more consumers will take the plunge and buy their first home.  Being able to reduce your tax liability by up to $8,000 is a huge benefit.  Given it's the lessor of 10% of the purchase price or $8,000, I'm pretty confident I'll be able to find buyers homes in my market for over $80,000.  My Evergreen market is one of the top areas in the entire Denver Metrolist market for average price ($575,000).  Shouldn't be a problem helping my clients get the full tax credit.

Think positive and good things will follow.