Are there any first time home buyer tax breaks available in Massachusetts or Worcester right now?

Asked by Danielle, Worcester, MA Thu Jul 15, 2010

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5
Christine Mo…, Agent, Wilbraham, MA
Fri Jul 16, 2010
There are some properties who have dropped the price 8000 dollars to reflect the end of the tax credit. There is not going to be another one. However the mortgage rates are at historic lows, which means if you buy a house now and live there a couple of years until the market recovers, you will absolutely make a profit. If you would like me to email you a list of properties I feel would be a great investment send me and email with what you are looking for.

Warm regards.
0 votes
Barbara Brown, Agent, Longmeadow, MA
Fri Jul 16, 2010
Hi Danielle,

There are also incentives for the Springfield area. Here is a link that describes the opportunities available:
http://www.buyspringfieldnow.org/homes/home.0.html. There are also companies here that are involved - Mass Mutual, Baystate Medical Center, UMass, & AIC. I would be happy to help you through the process if you choose to move to the Springfield area.
0 votes
Dave Stead, Agent, Worcester, MA
Thu Jul 15, 2010
Danielle,

The tax credit may be over, but there are still some incentives available for buying in Wiorcester.

There are companies providing incentives to their employees- Hanover insurance, Umass, St. Gobain, assumption college, and others actually give employees money at closing. here's a link: http://www.buyworcesternow.com/participating-employers

There are also programs available if you purchase within designated areas of the city to assist with purchase & renovation of property.

You could call Miguel Rivera at Neighborworks, or click the link to the buyworcesternow program:
0 votes
Dennis, , Worcester County, MA
Thu Jul 15, 2010
Danielle,
If you are a first-time home buyer in Worcester, I would like you to go to BuyWorcesterNow.com
http://buyworcesternow.com/
There's a lot of money out there for people who want to buy in Worcester. Visit the website and give them a call. While not a tax break -- they have several lenders and other various programs going on to save you thousands of dollars. Also check out the "Buyer Information" part of our website: MyHouseIsSold.com where you can get up to $2000 in closing costs with Omega Mortgage and EXIT REALTY.
Dennis Roy, REALTOR®, Paralegal, B.S.
EXIT REALTY PARTNERS
dennisroy@dennisroy.com
508-612-7412
Web Reference:  http://MyHouseIsSold.com
0 votes
Christopher…, Agent, Methuen, MA
Thu Jul 15, 2010
Danielle,

This is the only tax credit that I am aware of right now, but you needed to be under agreement by April 30, 2010 to be eligible and would have to close before September 30, 2010.

http://www.irs.gov/newsroom/article/0,,id=204671,00.html

You might want to contact a mortgage broker and ask about government sponsored loan programs such as FHA and HUD programs.
Web Reference:  http://teamlefebvre.net
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