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Making All the Right Moves For You

Understand the process.

Buying real estate is a complex matter and can be especially confusing for the first-time homebuyer. Do yourself a favor and learn as much about the process as you can before you begin. There are plenty of resources on the Internet, and most real estate offices will have pamphlets to explain things in plain language. You may also be able to research the real estate process by attending community-sponsored classes, or you can take a look at books like Home Buying For Dummies by Eric Tyson and Ray Brown, (IDG Books Worldwide, Inc.)

Use a REALTOR(R).

As a buyer, it usually costs nothing to hire a real estate professional to help you find and purchase a home--your Realtor will likely get a portion of the commission the seller pays to his Realtor. When choosing an agent, get referrals from friends, relatives, and co-workers, and then interview as many agents as possible. Pick an agent that works in the neighborhoods you're interested in. Listen to your agent, but make your own decision.

About the First-Time Home Buyer Tax Credit

Qualifications for the $8,000 Home Buyer Tax Credit


Only first-time home buyers are eligible. This is defined as not owning a home over the past 3 years. Here are other qualifications:


  • The home must be your principal residence.
  • Only homes purchased on or after January 1, 2009 and before December 1, 2009 qualify for the tax credit.
  • Limited to individuals with adjusted gross incomes of $75,000 as a single person or $150,000 filing jointly. There is a phase-out for single incomes between $75,000 and $95,000, and for couples filing jointly with incomes between $150,000 and $170,000.

Contact me to learn more about this tax credit.