Wow, don't miss out on this! It is a great time to buy a home!!

One of the most important provisions in the housing law is a first-time homebuyers' tax credit. Under this new law, first-time homebuyers will get a tax credit of 10 percent of the purchase price, up to $7,500 (or up to $3,750 each for two homeowners who file their taxes separately). The law defines a first-time homebuyer as someone who hasn't owned a home in three years. In the case of couples, if either spouse or partner has owned a home in the past three years, both are ineligible to take the tax credit. The credit applies to any qualifying person who buys a home from April 9, 2008 through June 30, 2009.

It is important to understand that a person who buys a first home during this period will get a dollar-for-dollar credit on his/her income taxes. For those expecting a refund, that amount will be increased by the amount of the credit and result in a larger refund.

If you or anyone you know is thinking of purchasing a home in Montgomery or PHiladelphia County, go to www.dianecardano.com and sign up for Free listings to be emailed to you daily as well as a Free pre-approval for a mortgage. See if you qualify for this tax credit!!

Have a Happy Halloween!! Go Phillies!!