With just under two seeks left to use the tax credit there are a few points about the credit to remember. The home buyer tax credit originated as a first time home buyer tax credit but it is no longer just for first time home buyers. If you have lived in your home for 5 of the past 7 years and are looking to buy a new home the tax credit can help make your purchase more affordable.

Another important point is that if you are a current home owner who qualifies for the tax credit you don’t have to be moving up. Your new home does not need to be a bigger, more expensive home, you can make a lateral move or a move down to a smaller home. The new home must also be your primary residence.

If you want to use the home buyer tax credit toward purchasing a new home in 2010 you need to have the home under contract by April 30. The home does not need to close before June 30, but the contract date is nearing. The tax credit offers home buyers a great opportunity to save some money, so contact an experienced Realtor today and get out there and start looking at real estate.

Click here to read all about the home buyer tax credit.

Contributed by Mario Romero, CRS, CDPE, CLHMS
602-252-4191 office, 602-254-9810 fax
The Romero Team - Melcher Agency
www.TheRomeroTeam.com
www.ShortSaleTeamAz.com
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