There are great incentives for first-time Columbus area real estate buyers. Big tax incentives and money put into the banking and financing industries to give buyers more availability to loans makes now the best time to move when looking for a home. This environment won't last—exactly. Some of the elements put in place are geared toward a strong future for the housing market, but many of the advantages are only good for now.
Tax Relief
First-time Columbus Area real estate buyers, meaning those who have not owned a home in the past three years, are eligible for a big tax break on income taxes. Next year at tax time all buyers have to do is report the new home purchase to get $8,000 dollars back. That's a big incentive. The drawback is it’s only good for this year. It is retroactive to the beginning of 2009 so even if you have already bought that home you can still claim it, but if you drag your feet hoping for better mortgage financing, or just a better time for your family to get a new home, you will miss out after December 31, 2009.
OHFA
The Ohio Finance Authority has decided that as of March 30th, 2009 buyers who qualify can use their $8000 stimulus tax incentive to help with down payment and closing costs. This will allow more Columbus area buyers the opportunity to take advantage of the outstanding inventory of homes available. This program is scheduled to run through November 2009, however, funds are limited so don’t miss out.
Affordable Housing
Right now is the time to buy because of prices, too. Thanks to the failings of the housing market, there are tons of homes for sale at prices they would not normally be listed at. If the stimulus plan improves the economy the way it is hoped it will, that won't last. This week there has already been signs that home sales are on the rise. That's great news for homeowners, but not great for those who wait to take advantage of the greatly reduced home prices.
Columbus area real estate buyers need to take advantages of all that 2009 and the current real estate market have to offer. There are great deals that may never happen again—Do not miss this golden opportunity to grow your personal net value.
If you’re interested in taking advantage of the 2009 stimulus plan or have any other real estate concerns, I can help. Call me at 614-273-6406 or email me at Vanessa.simmons@realliving.com for more information.
LINKS:
Big tax break on income taxes: http://www.realtor.org/government_affairs/gapublic/american_recovery_reinvestment_act_home#taxcredit
Mortgage financing: http://mortgage.freedomblogging.com/2009/02/18/obama-mortgage-rescue-promises-75-billion-in-aid/6767/
Ohio Finance Authority: http://www.centralohiorealestatecafe.com/post/1002788/-8000-dollar-tax-credit-down-payment-assistance-hurry-limited-funds
Stimulus plan: http://centralohiorealestateinformation.blogspot.com/2009/03/how-stimulus-bill-can-help-you-get-your.html
Tax Relief
First-time Columbus Area real estate buyers, meaning those who have not owned a home in the past three years, are eligible for a big tax break on income taxes. Next year at tax time all buyers have to do is report the new home purchase to get $8,000 dollars back. That's a big incentive. The drawback is it’s only good for this year. It is retroactive to the beginning of 2009 so even if you have already bought that home you can still claim it, but if you drag your feet hoping for better mortgage financing, or just a better time for your family to get a new home, you will miss out after December 31, 2009.
OHFA
The Ohio Finance Authority has decided that as of March 30th, 2009 buyers who qualify can use their $8000 stimulus tax incentive to help with down payment and closing costs. This will allow more Columbus area buyers the opportunity to take advantage of the outstanding inventory of homes available. This program is scheduled to run through November 2009, however, funds are limited so don’t miss out.
Affordable Housing
Right now is the time to buy because of prices, too. Thanks to the failings of the housing market, there are tons of homes for sale at prices they would not normally be listed at. If the stimulus plan improves the economy the way it is hoped it will, that won't last. This week there has already been signs that home sales are on the rise. That's great news for homeowners, but not great for those who wait to take advantage of the greatly reduced home prices.
Columbus area real estate buyers need to take advantages of all that 2009 and the current real estate market have to offer. There are great deals that may never happen again—Do not miss this golden opportunity to grow your personal net value.
If you’re interested in taking advantage of the 2009 stimulus plan or have any other real estate concerns, I can help. Call me at 614-273-6406 or email me at Vanessa.simmons@realliving.com for more information.
LINKS:
Big tax break on income taxes: http://www.realtor.org/government_affairs/gapublic/american_recovery_reinvestment_act_home#taxcredit
Mortgage financing: http://mortgage.freedomblogging.com/2009/02/18/obama-mortgage-rescue-promises-75-billion-in-aid/6767/
Ohio Finance Authority: http://www.centralohiorealestatecafe.com/post/1002788/-8000-dollar-tax-credit-down-payment-assistance-hurry-limited-funds
Stimulus plan: http://centralohiorealestateinformation.blogspot.com/2009/03/how-stimulus-bill-can-help-you-get-your.html
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