Home Buying in Inverness>Question Details

Pam, Home Buyer in Inverness, FL

I am buying a condo/townhouse in Florida next month is there a tax refund from Obama?

Asked by Pam, Inverness, FL Wed Apr 15, 2009

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4
Pam;
Programs well advertised always seem to build certain misconceptions. First the price of your home will determine what refund you will receive. Do not relie on Realtors to know every program available in the area you are looking to buy in. Research your local and county governments for offers they may offer, then State offers, then Federal offers, Remember they will always advertise the best possible return, makes them look better! As for $8,000 refund, that would be the max, the price of the home will determine the refund amount! Not sure if you got the full skinny from local and county officials, then also ask a local CPA firm to see what refunds they have found for local buyers!
1 vote Thank Flag Link Mon Dec 6, 2010
Hey Pam,
Louise gave a great answer. Just to build on what She already stated, here is a link to the FAQ's about the new $8,000 tax credit.

Hope this helps. Please feel free to contact me with any more questions or concerns.

http://www.realtor.org/wps/wcm/connect/599a64804d24c83d931ff…
0 votes Thank Flag Link Thu Apr 16, 2009
Hi Pam -- You can go to http://www.federalhousingtaxcredit.com/ for the exact requirements of this tax credit. In general, if you earn less than $75,000 and haven't bought a home in the last three years, you are eligible for a rebate of 10% of the sales price up to $8,000. It's a great time to buy, so contact a Realtor and start searching! You can go to my website http://www.FloridaMoves.com/Louise.Warring and put in your city or zipcode and see everything that's listed.

Happy House Hunting!
Louise Warring
Coldwell Banker Residential Real Estate
0 votes Thank Flag Link Thu Apr 16, 2009
There is a federal government tax credit of $8000 if you're a first time home buyer (haven't owned in the last 3 years).
Web Reference: http://SeattleHome.com
0 votes Thank Flag Link Wed Apr 15, 2009
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