$6,500.00 Tax Credit for Repeat Home Buyers

The Worker, Homeownership, and Business Assistance Act of 2009 has established a tax credit of up to $6,500.00 for qualified move-up/repeat home buyers (existing home owners) purchasing a principal residence after November 6, 2009 and or before April 30, 2010 (or purchased by June 30, 2010 with a binding sales contract signed by April 30, 2010).

Qualified home owners will have to have owned or resided in the same home for at least five consecutive years of the eight years prior to purchase date. For married couples both spouses have to qualify independently. You will not have to purchase a home more expensive than your previous residence.

The tax credit equals up to 10% of the purchase price up to a maximum of $6,500.00. Homes priced above $800,000.00 are not eligible for this tax credit.

The income limit for applicant is $125,000.00 for a single taxpayer and $225,000.00 for a married tax payer (filing a joint return).

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