The Homebuyer’s Tax Credit legislation is a welcome feature to the Moore County real estate market.  We have kept our market stable with the infusion of buyers who are using the government tax benefits to their advantage. 

The market has shown a remarkable movement in prices from $100,000 to $300,000 since the beginning of 2009 and should continue with the continuation of the tax credit for first-time homebuyers  and the addition of the credit for repeat buyers.

There is now a tax credit for repeat buyers as well as for first-time buyers. Taxpayers who have lived in one residence for five consecutive years of the past eight can now qualify for a tax credit of as much as 10% of the purchase price, up to a maximum $6,500, of a new principal residence. The new home does not have to cost more than the old one.

For more details log on the the article in the Wall Street Journal with details of the important legislation.

This entry was posted on Sunday, November 22nd, 2009 at 3:59 pm and is filed under Market Trends.