Oahu Real Estate to Benefit From Expanded Tax Credit

November 9th, 2009 John Riggins Posted in Oahu real estate, oahu |

The newly expanded tax credit is great for Oahu real estate

The newly extended and expanded tax credit is sure to benefit real estate on Oahu.  There is no doubt that the First Time Home Buyer Tax Credit helped to boost real estate sales on Oahu.  The expanded version of the tax credit now includes current home owners that have owned their home for at least five years.  What does this mean for Oahu real estate owners?  If someone has owned in a home on Oahu for at least 5 years and they want to trade up and buy a bigger home they can get up to a $6,500 credit at closing.

The tax credit has been extended into 2010.  Any properties need to be a primary residence and have to be under contract by April 30, 2010 and closed by June 30 2010.  The credit is available for real estate valued at up to $800,000 and the income restrictions are $125,000 for an individual and $225,000 for a couple.

If you would like to purchase a home for the first time on Oahu or trade up, contact John Riggins today.

For more information about Kapolei Real Estate please contact John Riggins, Certified Distressed Property Expert. Click here for access to the Oahu MLS and all available listings in the Kapolei area.