On February 17, 2009, the President signed the "American Recovery and Reinvestment Act of 2009."  A provision in the bill provides an $8,000 tax credit for first-time home buyers who purchase a principal residence between January 1, 2009 and December 1, 2009.  The title of the provision is somewhat deceptive, as the tax credit is also available for home buyers who have not owned a home in the past 3 years.  The great thing about this credit is that it does not require repayment. With the combination of extremely low interest rates and home prices, this was already shaping up to be the best time in decades to buy a home.  Now to sweeten the deal, the $8k home credit comes along.  You could litterly close escrow on a home, electronically file your taxes the next day, and have an extra $8,000 in your pocket a few days later. 

Below are details of the new tax credit as provided by the National Home Builders Association.  Please familiarize yourself with the tax credit, then give me a call with any questions.  If you are ready to go home shopping and have already been pre-approved by a lender, or are just beginning the home-buying process, it would be my privilege to assist you on the path to home ownership.

Glenn I. Revheim
RE/MAX Town & Country
Direct: (530) 410-4242
Email: Glenn@RemaxRedding.com