Charles Still   REALTOR^®

First-time homebuyers can take advantage of the new temporary tax credit signed into law on July 30, 2008, by President Bush as part of the Housing and Economic Recovery Act of 2008. Below are some of the parameters of the new program. Link to FAQs on the tax credit developed by the National Association of REALTORS®.

• The tax credit is for 10 percent of the cost of the home, not to exceed $7,500.

• It’s important to note the tax credit must be paid back over a period of 15 years like an interest-free loan.
• It’s available for any single-family residence (including condos) that will be used as a principal residence.
• The tax credit reduces income tax liability for the year of purchase. It can be claimed on tax return for that tax year.
• There is an income requirement. To be eligible for the full credit, individuals must have an adjusted gross income of no more than $75,000 ($150,000 on a joint return). The tax credit is not available for individuals with incomes of $95,000 or higher ($170,000 on a joint return).
• Applicants must be first-time homebuyers. (The buyer and the buyer’s spouse may not have owned a principal residence in three years previous to purchase.)
• The credit applies for purchases on or after April 9, 2008, and before July 1, 2009.

Source: National Association of REALTORS®

Welcome to Lexington and the Greater Columbia, SC area and Russell & Jeffcoat Realtors, your #1 source for real estate in the Midlands. In today's competitive real estate market, timing is everything. Many good homes are sold before they are ever advertised. Beat other homebuyers to the hottest new homes for sale in Lexington, Columbia, Lake Murray and Irmo areas with my New Listing Notification.  If you own real estate that you're thinking of selling, contact me and LET MY EXPERIENCE WORK FOR YOU! I will be with you every step of the way to make sure that your buying experience is as stress free as possible. I will be happy to provide you with a FREE Home Evaluation.

Whether you are buying or selling a home, hire me because I want to earn your business. I invite you to contact me as I am happy to assist you with this important transaction. If you have any general questions about buying or selling real estate in South Carolina, please contact me as I'm more than willing to help. Please browse my website for listings, reports and important local real estate information. Sincerely, Charles Still, REALTOR®

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