Thought the first time home buyer tax credit was ancient history? Think again!

As if insanely low interest rates, rock bottom prices and a great selection of real estate inventory here in Tacoma weren’t enough of an inducement, here is one more reason to look at buying a home now. There is still a federal credit for first time homebuyers! I suspect most of you didn’t know that. It’s not exactly the same as the popular one from last year, but buyers who have taken advantage of it can’t believe what a great deal it is. It’s an incentive that isn’t doing much for the economy because no one is talking about it. Unlike the $8000 one-time tax credit that helped spur sales in 2010, this is a gift that keeps on giving–an ongoing tax CREDIT of 20% of the interest you paid for the year EACH YEAR. I’m talking about a credit for tax payers who take the standard deduction—e.g. most first time buyers. You need to meet a few requirements, which most first time buyers will. If you want to find out if you qualify, call me. I can put you in touch with Becky, who will be happy to explain the requirements and program in more detail.