We've added a new feature to our St. Louis real estate website. Search all St Louis home listings -- straight from the MLS. Unlike the national sites, all data is current and accurate.
The St. Louis metro area real estate market seems to be responding to the first-time homebuyer tax credit and to the REPEAT HOMEOWNER TAX CREDIT.
The $6,500 Move-Up / Repeat Home Buyer Tax Credit at a Glance
**To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.
**The tax credit does not have to be repaid unless the home is sold or ceases to be used as the buyer’s principal residence within three years after the initial purchase.
**The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500.
**The tax credit applies only to homes priced at $800,000 or less.
**The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, the home purchase qualifies provided it is completed by June 30, 2010.
**Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.
You can visit my St Louis real estate blog for more discussion of the economy, both local and nationwide.
And don't forget to search for your home, whether your first or your last, at my St. Louis home search website.
For more information, please contact Russell Nolting at 314.267.2636 or at Russ@NoltingRealEstate.com.
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