$8,000.00 Tax Credit for First Time Home Buyers

The Worker, Homeownership, and Business Assistance Act of 2009 has established a tax credit of up to $8,000.00 for qualified first-time home buyers. The credit applies to sales occurring on or after January 2009 and on or before April 30, 2010. The exception is that a binding sales contract is signed by April 30, 2010, and the purchase completed by Jun 30, 2010.

For sales occurring after November 6, 2009, the Act establishes income limits of $125,000.00 for single tax payers and $225,000.00 for married couples filling jointly.

This applies to anyone who has not owned a principal residence during the previous three years prior to the purchase. Ownership of vacation homes or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer.

The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.00.

To claim the tax credit you will need to fill out IRS Form 5405 to determine the tax credit amount and then enter that amount on line 67of your 1040 income tax form for 2009 returns.

This tax credit applies to any home that is a principal residence.

Roberts Resorts and Pueblo El Mirage offer manufactured homes that are applicable for this tax credit. If you are planning to retire to Arizona, we have the place for you, along with a tax credit. But you will have to move fast, this Credit ends on April 30, 2010.

We will be more than happy to help you get into your perfect retirement home and get a kick-back from Uncle Sam at the same time. Depending on size our homes range from $40,000.00 to $120,000.00 base price, so you know you are well within the required upper limit.

View our listing of New or Resale Homes and give us a call to arrange a tour: 888-434-3247