The Stimulus Plan Makes This a Great Time for First-Time Fairfax County Virginia Real Estate Buyers
There are great incentives for first-time Fairfax County Virginia real estate buyers. Big tax incentives and money put into the banking and financing industries to give buyers more availability to loans makes now the best time to move when looking for a home. This environment won’t last—exactly. Some of the elements put in place are geared toward a strong future for the housing market, but many of the advantages are only good for now.
Tax Relief
First-time Fairfax County Virginia real estate buyers, meaning those who have not owned a home in the past three years, are eligible for a big tax break on income taxes. Next year at tax time all buyers have to do is report the new home purchase to get $8,000 dollars back. That’s a big incentive. The drawback is it’s only good for this year. It is retroactive to the beginning of 2009 so even if you have already bought that home you can still claim it, but if you drag your feet hoping for better mortgage financing, or just a better time for your family to get a new home, you will miss out after December 31, 2009.
Affordable Housing
Right now is the time to buy because of prices, too. Thanks to the failings of the housing market, there are tons of homes for sale at prices they would not normally be listed at. If the stimulus plan improves the economy the way it is hoped it will, that won’t last. That’s great news for homeowners, but not great for those who wait to take advantage of the greatly reduced home prices.
Fairfax County Virginia real estate buyers need to take advantage of all that 2009 and the current real estate market have to offer. There are great deals that will never happen again—hopefully.
If you’re interested in purchasing a home or condo in Fairfax County and want to take advantage of the 2009 stimulus plan, I can help. Call me at 703-909-3939 or email me at Steve@HomeSearchWebsite.com for more information.
Steve Hawkins
Long and Foster REALTORS®
Springfield, Virginia
www.HomeSearchWebsite.com
Steve@HomeSearchWebsite.com
703-909-3939
Steve, Great points! Thanks for sharing. I helped three 1st time buyers this month in the Charleston SC area that qualify for the $8000 tax credit. The money is there! What a great time to be a first time buyer. We are in a very rare time in the real estate market – interest rates and price are low at the same time. This can’t last much longer. Stop renting – call a lender to get pre-approved and then put a “buyers agent” to work and find that new home!
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