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April 2009 |
| FYI...Have you or someone you know been thinking of buying a house?
 You could receive $8,000 as a tax credit when you purchase your first home! In 2008 Congress created a $7,500 First-Time Homebuyer Tax Credit. It went into effect April 8th, 2008 and was set to expire July 1st, 2009. The problem was it had to be repaid over 15 years, and most viewed this as a debt and not a benefit. NAR began advocating to remove the repayment feature and to extend the credit to the end of 2009. The repayment requirement was successfully removed for 2009 as well as the credit was extended to November 30th, 2009 and can be claimed by those who closed homes on or after January 1st, 2009. The credit was also expanded to $8,000.
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Who Qualifies for the Tax Credit?
A first-time homebuyer is defined as someone who has not owned a main home at any time during the three years prior to the date of purchase. Form married joint filers, both must meet the first time homebuyer test to take the credit on a joint return.
The home must be the principal residence. It can be a condo, single family detached, co-op, townhouse or something similiar. The home must be located in the United states (vacation homes are not eligible.) If the home is sold prior to three years of ownership, the tax credit must be repaid. This is to prevent flipping homes in order to receive the credit. You can claim the credit on your 2008 tax return.
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Resource Center:
On our Website, You Will Find 12 Additional First Time Homebuyer Tax Credit Articles.
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Community Update: Sudden Valley
 Following Lake Whatcom Boulevard along the southwest edges of Lake Whatcom, you will discover the beautiful, planned community of Sudden Valley. Situated on 1,800 acres of prime waterfront and scenic forestland, Sudden Valley is a recreational playground with two miles of unspoiled waterfront, an 18-hole championship public golf course, tennis courts, swimming pools, and miles of scenic walkways. If you want to look at all of the properties for sale in Sudden Valley, you can View All the current listings on the market. | |
Featured Property
5595 Aldrich Road, Bellingham
$675,000 - 4 Bed/2.75 Bath
3403 Sqft- Built in 2008
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1200 E Maryland Street, Bellingham
1235 Sqft - Built in 1972
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Market Snapshot
Determine Your Property's Value by Evaluating Other Sold Properties in Your Neighborhood.
Click Here to Receive Your Own Market Snapshot for Your Property... |
NWMLS Stats:
Northwest Multiple Listings
Whatcom County
Closed Sales Report - Residential
March 2009
Residential/Condos Average Price Median Price
127 $304,676 $269,000
Click Here to View Archived Statistics on all of Whatcom County |
Listing Alert
Would You Like to Receive New Listings Matching Your Search Criteria? Click here |
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Thank you for taking the time to view Whatcom Real Estate Monthly.
To view our past newsletters please visit www.WhatcomRealEstateMonthly.com. Our goal is to keep you informed on the most up to date Real Estate information available.
Sincerely,
Keith Cook and Rachael Wilson
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