Bringing the Dream of Homeownership Within Reach
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:
- Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
- Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.
Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream. If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040.
Who Qualifies for the Extended Credit?
- First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
- Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
Which Properties Are Eligible?
The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Is Available?
The maximum allowable credit for first-time home buyers is $8,000.
The maximum allowable credit for current homeowners is $6,500.
How is a Buyer's Credit Amount Determined?
Each home buyer’s tax credit is determined by tow additional factors:
- The price of the home.
- The buyer's income.
Price
Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.
Buyer Income
Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.
These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.
The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.
Can a Buyer Still Qualify If He/She Closes After April 30, 2010?
Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.
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IMMACULATE HOME IN LAKE COMMUNITY!
• 2 bath, 3 bdrm ranch "4-SIDES BRICK!" -
MLS® $164,900 USD - MOTIVATED SELLER!
Lake Capri, Conyers - REDUCED TO SELL! One of the best homes in Lake Capri! Immaculate all brick home on huge corner lot! Beautiful lake community! New exterior paint! Gorgeous hardwood floors throughout! Large sunny kitchen with spacious breakfast area and abundant cabinet and counter space! Huge formal living room and separate formal dining room - great for entertaining family and friends! Inviting family room with wall-of-windows and additional closet! Large bedrooms with ample closet space! Master suite features his/hers closets, private bath and direct access to covered porch!
Ready-to-finish partial basement is excellent for storage and offers so many possibilities! Oversized rear covered patio overlooks lush wooded backyard! All appliances included! Seller is providing a 13 month home warranty for added peace of mind! Home is much larger than it appears from the outside! Strong HOA community with lake access, fishing, playground and more! Move in ready. Don't wait!
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OUTSTANDING MASTER ON MAIN PLAN!
• 2 bath, 4 bdrm 2 story "Traditional" - SOLD $261,700 USD - REDUCED! UPGRADES GALORE!
Castlebrooke, Cumming - BEAUTIFUL MASTER ON THE MAIN FLOOR PLAN! TURNKEY CONDITION WITH NEWLY PAINTED EXTERIOR and PROFESSIONALLY DECORATED WITH ALL THE BELLS AND WHISTLES!
This outstanding Sharp Residential Resale is located in the sought after swim/tennis/lake community of Castlebrooke—located only minutes from GA400, Lake Lanier, parks, recreation, award-winning schools, the New Avenue Forsyth and incredible shopping and dining!
As homeowner you will appreciate coming home to picturesque, tree-lined streets in this friendly, well-established community of beautiful homes set among the rolling hills of South Forsyth horse country. No empty lots or dirty construction zones to contend with here—instead, you will enjoy a welcoming, social community where neighbors are friends and neighborhood cookouts are already a tradition!
This beautiful home has been immaculately maintained and is in turnkey condition! It features an inviting front porch, elegant hardwood floors on the main, formal living room/home office, large formal dining room w/butler pantry, enormous great room with raised hearth brick fireplace and awesome chef's kitchen w/new granite countertops, custom tile backsplash, 42-inch maple cabinets and abundant cabinet/counter space!
This home also features an upgraded trim package, new lighting throughout, large upstairs bonus room (perfect for media room, family room, playroom or whatever suits your needs), abundant storage (a combination of plentiful closet space and a LARGE INDOOR WALK-IN STORAGE ROOM), a fantastic $4,000 private back yard expansion w/extended party patio and so much more!
Homeowners in CASTLEBROOKE and THE GLENS enjoy an OUTSTANDING ARRAY OF AMENITIES that include—a community clubhouse, junior Olympic pool, stocked community lake, new playground, picnic area, new sports/basketball court and PREMIERE TENNIS FACILITIES w/two Har-Tru courts, three Hard Courts, stadium seating, individual backboard area, ball machine, work-out area and Pro-Shop.
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NEW CARPET & FLOORING THROUGHOUT!
• 2 bath, 3 bdrm 2 story split - SOLD $164,700 USD - TURNKEY CONDITION!
Marleigh Farm, Kennesaw - MOVE-IN READY! This OUTSTANDING home is in TURNKEY CONDITION and located only minutes from the best shopping and dining Kennesaw has to offer!
As homeowner, you will enjoy coming home to a FRIENDLY, ESTABLISHED COMMUNITY with PICTURESQUE TREE-LINED streets! This delightful home resides on a DESIRABLE PRIVATE/WOODED LOT providing a cozy and peaceful atmosphere for relaxing or dining on the secluded deck. It has been well-maintained by its current owner and features a bright and open floor plan designed with livability in mind!
It also features numerous recent improvements that make this home a TRULY EXCEPTIONAL BUY! Recent improvements include:
– New A/C Unit.
– New Furnace.
– New Carpet & Flooring Throughout.
– Newly Tiled Bathroom Floors.
– Newly Painted Interior.
– Newly Stained Deck.
The FINISHED BASEMENT includes …
– A Large Half Bath.
– Smooth Finished Ceilings.
– Countless possibilities—media room, exercise room, play room, home office, conversion to 4th bedroom, etc.
An ENORMOUS TWO-CAR GARAGE completes the space and would be perfect for an indoor workshop or abundant extra storage!
Truly this is a “MUST SEE” home at this price—DON’T WAIT!
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PRIVATE CUL-DE-SAC LOT W/FENCED YARD!
• 2 bath, 4 bdrm 2 story - SOLD $250,000 USD - RELOCATION OPPORTUNITY!
Castlebrooke, Cumming - OUTSTANDING BRICK FRONT HOME on BEAUTIFUL CUL-DE-SAC LOT!
TURNKEY CONDITION WITH NEWLY PAINTED EXTERIOR AND NEW CARPET THROUGHOUT!
This outstanding Sharp Residential Resale is located in the swim/tennis community of The Glens at Castlebrooke—located only minutes from GA400, Lake Lanier, parks, recreation, award-winning schools, the New Avenue Forsyth and incredible shopping and dining!
As homeowner you will appreciate coming home to picturesque, tree-lined streets in this friendly, well-established community of beautiful homes set among the rolling hills of South Forsyth horse country. No empty lots or dirty construction zones to contend with—instead, you will enjoy a welcoming, social community where neighbors are friends and neighborhood cookouts are already a tradition!
This lovely home has been well-maintained and is in MOVE-IN CONDITION! It resides on one of The Glens’ largest and most beautiful lots, overlooking a lush tree island in the middle of the cul-de-sac! Its bright and open floor plan is perfect for entertaining and includes a formal living room and formal dining room!
It features a chef-friendly kitchen with 42-inch cabinets, tumbled stone tile back splash, breakfast bar, plenty of cabinet/counter space and a delightful breakfast room w/bay window that opens to a comfortable two-story great room w/elegant raised hearth brick fireplace! ALL KITCHEN APPLIANCES are included!
Upstairs you will find generous secondary bedrooms w/double door closets, and no shortage of storage, along with a wonderful master suite. The master bath features a walk-in shower, jetted soaking tub, dual-vanity, water closet and enormous walk-in closet.
The icing on the cake is a QUIET, PRIVATE, FENCED BACK YARD with party deck, bench seating, built-in planter boxes and flagstone patio w/decorative pergola—perfect for entertaining family & friends! Lastly, the oversized two-car garage features newly painted floor, built-in work bench and shelf storage.
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BEAUTIFUL 3-SIDES BRICK MASTER ON MAIN!
• 3 bath, 5 bdrm 2 story "Traditional" -
MLS® $329,700 USD - $6,000 TOWARD BUYER'S CC!
Castlebrooke, Cumming - BEAUTIFUL 3-SIDES BRICK BASEMENT HOME WITH MASTER AND SECOND BEDROOM/BATH ON THE MAIN—PERFECT FOR ELDERLY RELATIVES AND/OR GUESTS! TURNKEY CONDITION!
This beautiful move-in ready home in South Forsyth is conveniently located in the friendly, established swim/tennis community of Castlebrooke. As homeowner, you will enjoy coming home to picturesque tree-lined streets, lush landscapes and a community where neighborhood cookouts are already a tradition.
This outstanding home features a bright and open floor plan and newly updated gourmet kitchen with 42-inch maple cabinets, double ovens, gas cooktop, new slab granite countertops, new tumbled stone tiled backsplash, new cabinet hardware, new under-mount sink, new faucet with pull-out sprayer and new in-counter disposal switch!
FIRST FLOOR features:
▪ Welcoming two-story foyer.
▪ Gorgeous new lighting throughout.
▪ Abundant solid hardwood flooring.
▪ Breakfast room w/cathedral ceiling.
▪ Enormous formal dining room w/wainscoting, trey ceiling & crown molding.
▪ Central great room w/elegant raised-hearth brick fireplace & gas-logs.
▪ Second bedroom w/full bath on the main—great for live-in relatives or guests.
▪ Large, walk-in laundry room on the main.
SECOND FLOOR features:
▪ 3 fantastic bedrooms w/exceptional closet storage!
▪ Large jack-and-jill bathroom w/separate vanity areas and plenty of cabinet storage.
▪ NO small bedrooms or small closets in this home!
▪ Versatile fifth bedroom would also make excellent media/bonus room or family room!
BASEMENT features:
▪ One of the largest basements in the community.
▪ Full unfinished daylight basement w/high ceilings.
▪ Stubbed for full bath.
EXTERIOR features:
▪ Side-entry garage.
▪ Zoned irrigation system.
▪ Gorgeous level yard w/elegant shadow-box arched fence.
▪ Retreat-like setting w/thousands of dollars in upgraded landscaping!
▪ Large party deck accessible from kitchen/breakfast room & master suite.
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PRIVATE CUL-DE-SAC LOT W/FENCED YARD!
• 2 bath, 4 bdrm 2 story -
MLS® $250,000 USD - RELOCATION OPPORTUNITY!
Castlebrooke, Cumming - RELOCATION OPPORTUNITY & COMMUNITY'S BEST BUY!
This delightful home resides on one of the community’s most beautiful cul-de-sac lots with fenced back yard, flagstone patio & large deck - great for kids, pets and/or entertaining! Features elegant brick front, new carpet throughout, newly painted exterior siding and trim, new tumbled stone tile backsplash in kitchen, new lighting, large laundry room with cabinet storage, hardwood floors, inviting master suite & so much more! The home would be a great choice for the first time home buyer. CALL NOW - DON’T LET THIS ONE GET AWAY!
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