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I’m often asked, “What made you consider a career in real estate?” The question always brings a smile to my face as I recall when I was a child of 6 or 7 years old and Sundays always revolved around family. My father would take us on a drive through the country where we would eventually stumble across a new subdivision. My Dad would ask if we should stop and without any protest from me, we were touring “open houses.” Being the adventurer of the family, I was happy discovering the new gadgets (as I called them) such as dishwashers, built-in ovens and the like, all the time imagining what life would be like living in one of those houses. The man or woman that would be present at the open houses also amazed me. They were impeccably dressed, super friendly and seemed to enjoy what they were doing as they talked about the new homes and all of their gadgets. Real Estate agents! I love you Dad!
Final score: $8,000 for homebuyers
First-time purchasers get a tax credit windfall if they buy before December.
In an article by Les Christie, CNNMoney.com staff writer
Last Updated: February 17, 2009: 12:13 PM ET
NEW YORK (CNNMoney.com) -- There's a nice windfall for some homebuyers in the economic stimulus bill awaiting President Obama's signature on Tuesday. First-time buyers can claim a credit worth $8,000 - or 10% of the home's value, whichever is less - on their 2008 or 2009 taxes.
A big plus is that the credit is refundable, meaning tax filers see a refund of the full $8,000 even if their total tax bill - the amount of witholding they paid during the year plus anything extra they had to pony up when they filed their returns - was less than that amount.
To qualify for the credit, the purchase must be made between Jan. 1, 2009 and Nov. 30, 2009. Buyers may not have owned a home for the past three years to qualify as "first time" buyer. They must also live in the house for at least three years, or they will be obligated to pay back the credit.
Additionally, there are income restrictions: To qualify, buyers must make less than $75,000 for singles or $150,000 for couples. (Higher-income buyers may receive a partial credit.)
Click here for more info:http://www.irs.gov/newsroom/article/0,,id=204671,00.html
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