Congress recently passed a provision in the Housing Bill that is a significant incentive for first time home buyers.  It provides a tax credit of 10% of the purchase price up to a maximum of $7,500 and retroactive back to April 9, 2008 and continues through June 30, 2009. 

This is a credit not a deduction, which means it directly reduces the taxes owed - dollar for dollar.  A tax credit is much more valuable than a deduction.  A credit reduces dollar for dollar the amount of tax you owe.  A deduction merely reduces the amount of your income that is [...] Continue Reading…

STEP ONE
1.  Get “prequalified” with a professional lender to determine what price home you can afford.  This will help both you and your agent in your home-buying process.

2.  Your agent will work with you to identify properties in your price range that meet your priorities with features that are important to you.

3.  Working with your agent, view homes that meet your requirements and choose the one that you would like to purchase.
  STEP TWO
1.  The initial step in purchasing your new home will be to instruct your agent to make an offer to purchase the home you decide that you want.  [...] Continue Reading…