{"id":15631,"date":"2009-02-18T07:21:49","date_gmt":"2009-02-18T07:21:49","guid":{"rendered":"http:\/\/therealestatemango.com\/2009\/02\/18\/stimulus-great-for-first-time-homebuyers-in-aventura-real-estate-market\/"},"modified":"2019-04-23T20:56:41","modified_gmt":"2019-04-23T20:56:41","slug":"stimulus-great-for-first-time-homebuyers-in-aventura-real-estate-market","status":"publish","type":"post","link":"https:\/\/ewmrealestate.com\/blog\/stimulus-great-for-first-time-homebuyers-in-aventura-real-estate-market\/","title":{"rendered":"Stimulus Great For First Time Homebuyers in Aventura Real Estate Market"},"content":{"rendered":"

This new tax credit is a little complicated so I am going to attempt to make it easy to understand.\u00a0 When you\u00a0study this\u00a0 and you find that this incentive is for you, start looking for\u00a0your perfect home.<\/strong><\/p>\n

    \n
  1. The deduction is worth 10 percent of a home’s value up to $8000. <\/strong>which means all homes worth more than $80,000 <\/strong>could qualify for the maximum amount.<\/li>\n
  2. There is an income limit to qualify.\u00a0 A married couples’ modified adjusted gross income\u00a0(MAGI<\/strong>) should be under $150,000 and single filers’ MAGI should be less than $75,000.<\/li>\n
  3. It is a tax credit, not a\u00a0deduction<\/strong>.\u00a0 That means the entire amount goes back to the first time home buyer unlike deductions,\u00a0such as mortgage interest, that are substracted from gross income before tax is calculated.\u00a0 If qualified for $8000, the buyer gets $8000 even if they would not owe that much in taxes otherwise.<\/strong><\/li>\n
  4. The tax credit does not have to be paid back, providing the homebuyer keeps the property for at least 36 months and resides in the home.<\/li>\n
  5. To qualify as a first time homebuyer, the purchaser cannot have owned a home within the\u00a0previous three-year period. However, ownership of a vacation home or rental home does not disqualify the buyer.<\/li>\n
  6. The tax credit applies to homes purchased between January 1, 2009, and December 31, 2009 <\/strong><\/li>\n<\/ol>\n

    Obviously there are more details to this new law.\u00a0\u00a0Please contact me,<\/strong> if you have questions.\u00a0\u00a0 But, basically, it is a grand incentive to buy, this year, while home prices are very low and there is a bonus in buying.<\/p>\n","protected":false},"excerpt":{"rendered":"

    This new tax credit is a little complicated so I am going to attempt to make it easy to understand.\u00a0 When you\u00a0study this\u00a0 and you find that this incentive is for you, start looking for\u00a0your perfect home. The deduction is worth 10 percent of a home’s value up to $8000. which means all homes worth<\/p>\n

    Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":130092,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[11767],"tags":[],"yoast_head":"\nStimulus Great For First Time Homebuyers in Aventura Real Estate Market - BHHS EWM Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ewmrealestate.com\/blog\/stimulus-great-for-first-time-homebuyers-in-aventura-real-estate-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stimulus Great For First Time Homebuyers in Aventura Real Estate Market - BHHS EWM Realty\" \/>\n<meta property=\"og:description\" content=\"This new tax credit is a little complicated so I am going to attempt to make it easy to understand.\u00a0 When you\u00a0study this\u00a0 and you find that this incentive is for you, start looking for\u00a0your perfect home. The deduction is worth 10 percent of a home’s value up to $8000. which means all homes worthRead More\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ewmrealestate.com\/blog\/stimulus-great-for-first-time-homebuyers-in-aventura-real-estate-market\/\" \/>\n<meta property=\"og:site_name\" content=\"BHHS EWM Realty\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/EWMRealtyInternational\" \/>\n<meta property=\"article:published_time\" content=\"2009-02-18T07:21:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-04-23T20:56:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ewmrealestate.com\/blog\/wp-content\/uploads\/2019\/06\/BHHS-On-Solid-Background.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"376\" \/>\n\t<meta property=\"og:image:height\" content=\"376\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Admin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/stimulus-great-for-first-time-homebuyers-in-aventura-real-estate-market\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/stimulus-great-for-first-time-homebuyers-in-aventura-real-estate-market\/\"},\"author\":{\"name\":\"Admin\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#\/schema\/person\/c02e56ee015dc7d104143c38d8028970\"},\"headline\":\"Stimulus Great For First Time Homebuyers in Aventura Real Estate Market\",\"datePublished\":\"2009-02-18T07:21:49+00:00\",\"dateModified\":\"2019-04-23T20:56:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/stimulus-great-for-first-time-homebuyers-in-aventura-real-estate-market\/\"},\"wordCount\":263,\"publisher\":{\"@id\":\"https:\/\/ewmrealestate.com\/blog\/#organization\"},\"articleSection\":[\"EWM News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ewmrealestate.com\/blog\/stimulus-great-for-first-time-homebuyers-in-aventura-real-estate-market\/\",\"url\":\"https:\/\/ewmrealestate.com\/blog\/stimulus-great-for-first-time-homebuyers-in-aventura-real-estate-market\/\",\"name\":\"Stimulus Great For First Time Homebuyers in Aventura Real Estate Market - 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