The Homebuyers Tax Credit — which expires September 30, 2010 for most homebuyers — is available for active military service member who were on overseas duty for at least 90 days between January 1, 2009 and April 30, 2010. These service men and women have until April 30, 2011, to sign a real estate purchase contract and until June 30, 2011 to close on the property sale.
The tax credit amount for active military is the same as for other home buyers: $8,000 for first-time home buyers and $6,500 for repeat (“move-up”) home buyers. Also, qualified service members who receive orders to move within three years and move out of their home are not required to repay the credit.
Questions? I’d love to hear from you. Please contact me at pat@patflynnrealtor.com or 503-860-2640, or visit my website at www.patflynnrealtor.com.
