AZ Real Estate Commentary

Don’t Miss Out On Your $8,000 Tax Credit.*

Buying Your First Home?

* The information provided does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind nor should it be construed as such. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action on this information, you should consult a qualified professional adviser to whom you have provided all of the facts applicable to your particular situation or question. Available only to qualified borrowers.

That’s right. Buy your first home before December 1, 2009, and you may be eligible for a tax credit of up to $8,000. Think how handy that extra money will be as you settle into your first home. The pricing and availability of homes has never been better, and now with the government’s tax credit for first-time homebuyers, there’s no reason to delay.

TAX CREDIT DETAILS:

• First-time homebuyers only.

• Does not need to be repaid.

• Equal to 10% of the home’s purchase price up to a maximum of $8,000.

• Available for homes purchased before December 1, 2009.

• Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for

the full tax credit.

SUBJECT TO:

 Buyer applying for a mortgage loan no later than November 1, 2009.

 Buyer providing all required documentation within 72 hours of application.

 Fully executed contract (signed by seller and bank) must be received by your lender by November 1, 2009.

 Appraisal ordered by November 1, 2009.

 Full credit / underwriting approval thru your lender, including acceptable appraisal.

 Seller’s performance required on returning closing documents, signed by seller, and returned to your lender by November 25, 2009.

Please call if you or anyone you know are interested in purchasing a home or if you need a referral to a lender.

Thank you.

Katharine K. Whiting, CRS, GRI, ABR, e-PRO, MRE, RECS, Associate Broker