First Time Buyers Get $7,500 from Uncle Sam!

HOTSHEET
Inside Information About Michigan’s Changing Real Estate Market…

12/02/2008

$7,500 FIRST-TIME HOMEBUYER INCOME TAX CREDIT!

THIS TAX CREDIT IN NOW LAW!

Who Qualifies?
o First time homebuyers who purchase a principal residence between 4-9-08 and 7-1-09 qualify for the tax credit.
o The maximum credit is $7,500 or 10% of the purchase price if lower than a $75,000 sales price.
o If a home is purchased in 2009, homebuyer can elect to amend 2008 tax returns and claim a tax credit.
o If you have not owned a principal residence in the last 3 years you may still be eligible for a credit.
o Be sure to consult with an accountant to make sure this tax incentive truly works in your favor.

Who Doesn’t Qualify?
o Non-resident aliens.
o Buyers who finance a home with tax-exempt mortgage bond programs.
o If the property is disposed of before the end of the tax year.
o If the property ceases to be principal residence before the end of the tax year.
o If the property is acquired from a person who is related to the homebuyer.
o If the modified Adjusted Gross Income exceeds $95,000 (individual) or $170,000 (joint).
o Tax Credit phases out for individual files @ AGI of $75,000-$95,000 and $150,000-$170,000 for joint filers.

The government does not give away money very often. If you know any first time buyers, please urge them to call me now. Rates are still low, housing is plentiful and Uncle Sam wants to give them $7,500. Your referrals are appreciated! Thank you so much!


Eric Oke
Broker, Realtor, ABR

Direct: 586-928-7899
info@okerealtygroup.com

http://www.okerealtygroup.com/

For Immediate Release - Oke Realty Group.

Press Release – For Immediate Release

586-928-7899 (O)
586-928-7877 (F)
586-295-7889 (D)
Shelby Twp., MI 48316
info@okerealtygroup.com

Shelby Township, MI – Big on service not on fees! Built on integrity, honesty and both technical & market knowledge the newly formed Oke Realty Group may be the brokerage for you. Founder Eric Oke puts his 10 years of real estate experience to the test while finding you the perfect home. Oke Realty Group is a full service brokerage that handles the listing, marketing and selling of your home as well. They have completed hundreds of deals over the years and most recently have placed a strong focus on buyer agency. Oke stated, “due to the evolution of this market it has become extremely important for buyers to realize where they stand during the real estate process. On average, a buyer represented by a buyer agent pays $5,000 less for their home. Additionally, on average a house listed by a real estate agent will sell for $7,000 more than when listed by the owner.”* All of the agents at Oke Realty Group work hard to educate and inform their clients every step of the transaction. Whether you are looking for a REO (Bank Owned), a foreclosure, a government or a traditional sale they have the experience to guide you through the entire process. Oke Realty Group works largely from referrals and continues to grow as the #1 choice among Law Enforcement, Firefighters, EMT, Military Personnel and Teachers. When it comes to the largest purchase in your life, use the Realtors that professionals use… Oke Realty Group!

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Information about Oke Realty Group can be found at http://www.okerealtygroup.com

About The Owner: Broker / Owner Eric Oke has 10 years experience in Michigan Residential Real Estate. He has maintained a residence and his business in Macomb County for over 30 years. Eric Oke is a member of the National Association of Realtors (NAR), Michigan Association of Realtors (MAR), Metropolitan Consolidated Association of Realtors (MCAR) and is an Accredited Buyer Representative (ABR).

For more information on Broker/Owner Eric Oke visit http://www.ericoke.com

*Based on surveys conducted by Consumer Reports October, 2008