A tip to remember
Well, the home buyers who were hoping to see the tax credit raised from $7500 to $15,000 will be slightly disappointed. Apparently there wasnt enough in $787 Billion budget to pull that off! BUT...the government has extended the tax credit of 2008 AND increased it from $7500 to $8000 giving first time home buyers a lot of reasons(8000 of them in fact)to buy a home before December of 2009.
I called a client of mine a few days ago who closed in November to make sure that he had done his taxes and taken advantage of his tax credit for buying his first home. As a family with three kids and the usual deductions that come with that AND their $7500 tax credit, he couldnt stop going on about his $11,900 tax return this year!!
These are tough times economically but the Nashville housing market is staying steady and with several no money down financing options out there AND $8000 coming back when you buy, this is a wonderful time to be a first time buyer in Tennessee!!
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About the Author --- Will Nesbitt is the principal broker of Condo 1 Alexandria / Will Nesbitt Realty LLC. Will specializes in condos, townhouses and single family residences in Alexandria, Arlington, Fairfax County, Crystal City, and Kingstowne. Will resides in Belle Haven Estates just outside Alexandria VA in Fairfax County. |
