One of the the key provisions of the American Recovery and Investment Act that became law on Feb. 17, 2009 involves an important $8,000 tax credit available to first-time home buyers purchasing a home between January 1, 2009 and December 1, 2009. Unlike the tax credit passed in 2008, this tax credit will not have to be repaid.
The tax credit can also be claimed by those who have not owned a home during 2006, 2007, and 2008.
However, the tax credit is only for the purchase of a primary home.
Please click on this link in order to see information about the tax credit by the National Association of Realtors.
This credit, combined with low mortgage interest rates, make this a good time to buy a home, so please do contact us to let us know how best we can assist you in purchasing Galveston real estate.
