Many people are still asking questions concerning the Stimulus Bill passed by Congress in February re: how will it impact me, the consumer? The local board of Realtors distributed to its members information about the stimulus package and its impact on the real estate market and realtors. Many of the issues that it addresses are pertinent for both home buyers and home sellers, as well as other interested parties. As the document is long, I will not reproduce it here, but you can click on the link below to read then full details.
Below is a summary of the key provisions of the bill, and how it most directly impacts you:
tax incentives for commerical real estate and small business owners to implement energy efficient and green power sources
tax credits for homeowners to make their homes energy efficient (credit to last though 2010)
making broadband available in underserved areas, which will help to increase home values
First Time Homebuyers Tax Credit - chart that explains conditions and changes to the original 7/2008 bill. Of significance to home owners is that it applies to all whose purchase of a home was after January 2009. Also important is the fact that there is no repayment of this credit unless you sell the home you buy within 3 years, and the credit is refundable to you if your tax liability is under the amount of the credit.
Courtesy of William James Walton, Sr. , Realtor, WEICHERT, REALTORS® - Briotti Group
Serving northern New Haven and southeastern Litchfield Counties (Waterbury, Wolcott, Prospect, Naugatuck, Middlebury, Southbury, Watertown, Thomaston and Plymouth)
Call William James Walton, Sr. Real Estate Agent with WEICHERT, REALTORS® - Briotti Group (203) 558-7463 for help with your real estate needs -buying or selling - in Waterbury, Watertown, Wolcott, Middlebury, Southbury, Prospect, Naugatuck, Plymouth and Thomaston