Now is the perfect time to buy a home. With the extension of the 2009 tax credit, it is now the optimal time for first-time, repeat and move-up home buyers to purchase a new home.

The tax credit will be available for any home purchased before April 30, 2010. However, keep in mind that you must close on your new home no later than June 30, 2010. First-time homebuyers are eligible for up to $8,000 and repeat or move-up buyers are now eligible for up to $6,500. In addition, repeat buyers must have lived in their current home five consecutive years out of the past eight.

Income limits for the tax credit have also increased, which means more people are eligible for the tax credit in 2010 than they were in 2009. Single taxpayers with incomes up to $125,000 and married couples with a joint income of $250,000 are eligible for the tax credit. If your income exceeds either of these limits by $20,000 or less you might be able to qualify for a partial tax credit.

Heron Bay is the perfect place for anyone looking for a new home in the greater Atlanta area. With their amazing outdoor amenities such as golf course, walking trails, amazing pool and reservoir and convenient location to both the city of Atlanta and Hartsfield Jackson International Airport, this master-planned golf community is the perfect place to call home.

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Great News! The $8,000 tax credit for first time home buyers has been extended. In order to take advantage of the opportunity, buyers will need to be under contract by April 30, 2010 and close on their new home by June 30, 2010.

In addition, the program has been expanded to include a new $6,500 credit for current home owners who are purchasing a new primary residence. To qualify, you will need to have lived in your current residence for five consecutive years out of the last eight years.

The income eligibility for both first time and repeat buyers has also been increased to $125,000 for individuals and $225,000 for married couples. (more…)