This is the LAST WEEK you can take advantage of the Federal Tax Credit when you buy a new Southern Home. Don’t let this opportunity pass you by!!

Let’s start shopping for your new home.

*Here are the details you need to know.

• The Federal Homebuyer Tax Credit is available to buyers who have not owned a principal residence in the last three years (“New Buyers”) and to buyers who have owned and lived in their principal residence for 5 consecutive years out of the last 8 years (“Repeat Buyers”).
• The maximum credit amount is $8,000 for New Buyers and $6,500 for Repeat Buyers.
• The tax credit is available for homes closed after November 6, 2009, and before May 1, 2010. However, home purchases subject to a binding sales contract signed by April 30, 2010, will qualify for the credit provided the closing occurs prior to July 1, 2010.
• Homes with a purchase price of up to $800,000 qualify. The home must be used as a principal residence.
• Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.
• The tax credit does not have to be repaid, unless the owner sells or stops using the home as their principal residence within three years after the purchase.

For complete details on the Federal Tax Credit, please go to www.FederalHousingTaxCredit.com or the IRS Website.

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