The federal government just made some very noteworthy changes to the American Recovery and Reinvestment Act of 2009 which anyone even thinking about buying in The Villages, or anywhere else for that matter, should be aware of. The Wall Street Journal has a good article about the new tax credit and why you should not wait too long before taking advantage of it.

I just got an email from The Villages with information about the tax credit and how you can take advantage of it by purchasing a home in The Villages. Here’s the scoop:

Greetings from The Villages!

Recent changes to the American Recovery and Reinvestment Act of 2009 have helped even more folks make their retirement dreams come true sooner than later! This exciting news comes at a time when many are already taking advantage of low home prices and the lowest interest rates in years. Even more reason to start enjoying your dream of living in The Villages NOW!

As you may have seen or heard, news media and web sites across the country are reporting the program basics as follows:

•    First-time home buyers may be eligible for a tax credit of up to $8,000.
•    Existing home owners who have been residing in their principal residence for five consecutive years out of the last eight may be eligible for a tax credit of up to $6,500.
•    The credit is for homes purchased as a primary residence, under $800,000.
•    The credit is for homes purchased between November 6, 2009 and April 30, 2010. All closings must take place no later than June 30, 2010.
•    Certain income limits apply

We encourage you to take advantage of this limited time opportunity from the Federal government. For more information, we encourage you to seek the advice of your tax professional. Hope to see you soon!

If you’d like to learn more about the tax credit and read answers to some of the most frequently asked questions, check out http://www.federalhousingtaxcredit.com/