NOW....is a good time to make a SMART, GREAT purchase for your first home.
Don't be deceived by the NATIONAL MARKET! All real estate is LOCAL!
Would you believe that home values in metropolitan Columbia are STABLE?
Yes, Virginia! The real estate sky is not falling in our area. What does that mean?
If you wait for prices and interest rates to drop......THEY MIGHT NOT!
Higher Interest Rates+Higher Prices+Limited Financing=REDUCTION!
A reduction in your ability to afford your first home!
Plus, there are TWO additional tax benefits to purchasing a home.....NOW!
1. Do you remember the Tax Relief and Health Care Act of 2006?
This signed legislation will allow 2008 and 2009 homebuyers to deduct premiums paid for mortgage insurance - which typically is required when homebuyers purchase a home with less than a 20% down payment.
This new insurance premium deduction will only apply to mortgage insurance contracts issued in 2008 and 2009 and is only available to taxpayers whose adjusted gross income does not exceed $110,000 ($55,000 for married taxpayers filing separately).
For more information about H.R. 6111 (look in Act 419-Code 163-6050H) , contact your CPA or tax attorney.
2. Have you heard about Housing Stimulus Bill (H.R. 3221)?
As a first-time home buyer, this Congressional Act could give you a $7,500 tax credit for your residential purchase between NOW and June 30, 2009.
CLICK HERE for more information about H.R. 3221.
If you are ready for your FREE, NO OBLIGATION First-Time Home Buyer Assessment... please feel free to give David Patterson a call at (803) 772-5858 or email David at blogger@davidpatterson.net
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