| Lake Conroe residents are running out of time to take | | | | home buyer credit can be treated like the cherry on |
| advantage of the $8,000 first time home buyer tax | | | | top. By buying a home right now your building equity, |
| credit. The program which has added 900,000 | | | | you are guaranteed a steady increase in property |
| additional home buyers nation wide is coming to a | | | | value and a to top it all off a gift of $8,000. |
| close at the end of April. The program also offers a | | | | Some of the guidelines of the are as follows: Income |
| $6,5000 tax credit to repeat buyers who have owned | | | | can not be over $125,000 for an individual and can not |
| a home in the last 5 years. The home buyer credit only | | | | be over $250,000 per household. The actual credit is |
| applies to the purchase of a primary residence so the | | | | 10% of the purchase price of the home up to $8,000 |
| purchase of a vacation home will not earn the tax | | | | ex. $60,000 purchase = $6,000 credit. Also the credit is |
| credit (no matter how much you want it to). | | | | only available to properties with a purchase price |
| This program was really designed to encourage | | | | below $800,000. |
| people to purchase homes in places hit hard by the | | | | The home buyer tax credit might expire at the end of |
| Real Estate crash like California, Florida and Michigan. | | | | this month but for now buyers and Realtors are busy |
| Here in Texas especially in the Lake Conroe area | | | | trying to find the right home. |
| home values have remained steady so the $8,000 | | | | |