Paul Copeland

Homebuyer Credit Extended and Expanded

This morning, the $8000 tax credit extension was extended and expanded for first-time home buyers. This is the tentative plan, but not official until the government releases the documents with all of the fine print.

Here's the new tax credit deal the Senate settled on this morning:

The $8,000 first-time home buyer tax credit would be extended (it was set to expire November 30) for home buying contracts that are finalized by April 30, 2010 and close before June 30, 2010.

A new $6,500 tax credit is available to some existing homeowners who lived in a home for a consecutive 5 years out of the past 8 years.

The income limits have been raised, so both tax credits will be available to those individuals earning up to $125,000 (currently set at $75,000), or up to $225,000 (currently set at $150,000) for couples.

$8000 First Time Home Buyer Credit

$8,000 Home Buyer Tax Credit at a Glance

The information on this page pertains to the American Recovery and Reinvestment Act of 2009.

• The tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
• The tax credit does not have to be repaid.
• The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
• The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
• Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

TAX CREDIT WILL EXPIRE DECEMBER 1, 2009

Single Story For Sale in Keating Place

• 2,050 sq. ft., 2 bath, 4 bdrm single story - MLS® $179,900

Keating Place, Pensacola  -  Beautiful home in Scenic Heights boasting 2 living areas. One has a gas fireplace with built-in shelves and cabinets and a wet bar with a Jenn-Aire grill/stove. Large eat-in kitchen with a very open concept for entertaining. second living area is very spacious and light. Back yard has patio and lush landscaping with a sprinkler system. There is also a park within walking distance and this home is conveniently located to beaches, shopping and dining. Sellers offering $1500 carpet/repair allowance.

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1502-721 Pensacola Beach Blvd. in West Pensacola Beach is Sold!

West Pensacola Beach, Pensacola Beach  -  The single story at 1502-721 Pensacola Beach Blvd. has been sold.

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2 Story For Sale in Villa Sabine

• 3,408 sq. ft., 4 bath, 4 bdrm 2 story - MLS® $899,900

Villa Sabine, Pensacola Beach  -  Exquisite views greet you from this 2 story brick home on the Sound. Plenty of room here with over 3400 SF. Upstairs has a separate living area with a wall of French doors and windows to enjoy the beautiful sunsets. There is also a kitchenette up there with a dumbwaiter from the kitchen. Kitchen has been recently remodeled and has some glass front cabinets for displaying those special pieces. A beautiful fireplace graces the living area downstairs. Call today for your personal tour. Buyer to verify square footage.

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3 Story For Rent/Lease in Sunchase

Just Bring Clothes

• 1,018 sq. ft., 2 bath, 2 bdrm 3 story - MLS® $1,250 USD Monthly - Fully Furnished

Sunchase, Gulf Breeze  -  Excellent waterfront location in Gulf Breeze just as close to the beach as it gets! Fully Furnished third floor unit, just bring your linens and clothes, as added value of vaulted ceilings which give the illusion of so much more space. Enjoy spectacular views of intra-coastal waterways from your private deck and open, bright entertaining areas. Sparkling sunshine practically dances across the water and through the windows making every day feel like a vacation day! Includes garage space with automatic opener, indoor laundry and just steps from the pool.

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Single Story For Sale in Villa Segunda

• 3,018 sq. ft., 3 bath, 4 bdrm single story - MLS® $899,000

Villa Segunda, Pensacola Beach  -  This is the most unique beach rental on Pensacola Beach. This home offers 4 bedrooms and 3 full baths. Amenities include pool, elevator, 2 instantaneous tankless water heaters and one regular, convenient beach access, fenced yard, private decks, and a great party space under the house. Each bedroom and the living area have holographic fireplaces which provide the heat for the home. The A/C is geothermal. This home is straight out Bedrock. You may even see Fred, Wilma, Pebbles, and BamBam. Good rental history. Property to be sold "AS IS".

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