Mountain’s Edge to host event
Mountain's Edge will host a Homebuyer Tax Credit Fair to help homebuyers understand the tax credits available to first-time and move-up buyers.
The event will be held Feb. 20 from 10 a.m. to 3 p.m. at the master-planned community's Home Search Café, located on Buffalo Drive and Blue Diamond Road.
The Worker, Homeownership, and Business Assistance Act of 2009 was extended in November 2009, allowing a tax credit of up to $8,000 for qualified first-time homebuyers purchasing a principal residence. It also authorized a tax credit of up to $6,500 for qualified repeat homebuyers.
The deadline to apply for these tax credits is April 30, and as long as a binding sales contract is signed by April 30, a home purchase completed by June 30 will qualify.
"As the economy begins to strengthen, homebuyers are taking advantage of the lowest interest rates in decades, dramatically reduced home prices and the recently extended first time and repeat homebuyer tax credits," said Deonna Stocker, manager of the Home Search Café at Mountain's Edge and the Providence Information Center.
"Mountain's Edge has 80 models that all qualify for the tax credit program and, while advantages of reduced prices and lower interest rates are easily understood by most home buyers, the benefits of tax credits are often more difficult to understand and we want to provide a forum where prospective buyers can ask questions in a comfortable environment."
The event is free to interested buyers and will feature financial planners, educated in the latest rules related to mortgages and the tax credit, who will discuss the advantages of the programs and some of its financial and tax implications.
Home builder industry experts will be at the event to discuss the benefits of purchasing a new home vs. a resale home and the advantages of applying the tax credit to a new home before the April deadline.
The event will include light snacks and refreshments to those in attendance.
"We have found that many people are interested in learning more about these two tax credits and some of the most frequently asked questions include: Who is eligible to claim the $8,000 tax credit? How is the amount of the tax credit determined? Are there any income limits for claiming the tax credit? These are among many other questions that will be answered at the Homebuyer Tax Credit Fair at Mountain's Edge," Stocker said.
"Homebuyers who take advantage of these tax credits and purchase brand-new homes will have the ability to select interiors to meet their needs as homeowners, rather than having to buy a home that will require out-of-pocket funds to customize, repair or both," Stocker said.
"Buying a brand-new home that comes with builder warranties also gives homebuyers additional peace of mind."
The Homebuyer Tax Credit Fair information provided is for general guidance only and does not constitute the provision of legal advice, tax advice, accounting services, investment advice or professional consulting of any kind nor should it be construed as such. The information provided should not be used as a substitute for consultation with professional tax, accounting, legal or other competent advisers. Tax laws are subject to change.
Builders within in the master plan include: Amstar Homes, Beazer Homes, Harmony Homes, KB Home, Meritage Homes, Pardee Homes, Phillips Homes, Pulte Homes, Richmond American Homes, Ryland, and Warmington Homes Nevada.
For more information on Focus Property Group, visit focuspropertygroup.com
For more information, visit the development's Home Search Café, located at the community's entrance on Buffalo and Blue Diamond, or visit mountainsedge.com.
The Café is open to the public from 10 a.m. to 5 p.m. daily and can be reached at 898-5777.
