Leading Home Builder Helps New Home Buyers With Federal Tax Credits

Salt Lake City, UT (PRWEB) July 7, 2009

Holmes Homes, an award-winning new Utah home builder dedicated to providing high quality and energy efficient homes in Utah, Arizona, and Idaho, announces the “Federal Tax Credit Advantage”. Holmes Homes wants to help potential home buyers take advantage of $8,000 federal tax credit for the “first time homeowner”. In an effort to stimulate the economy and revive the housing market, Congress has enacted legislation providing a tax credit of up to $8,000 for all first-time home buyers.

Time is of the essence for buyers who want to take advantage of this opportunity. Only homes purchased on or after January 1, 2009 and before December 1, 2009 are eligible. Don't forget that the definition of a “first time homeowner” is anyone who hasn't owned a home in the last 3 years, or that has never owned a home. This means all renters, recent college grads, and fence sitters need to get moving and come see Holmes Homes.

“There is no question that the combination of historically low interest rates and the $8,000 federal tax credit has dramatically increased interest in our homes, which has translated into increased sales over the last few months. We have been fortunate to have this wonderful tool to aid and assist our homebuyers; it has been great!” exclaimed Ross Holliday, Partner in Holmes Homes.

Holmes Homes has already helped numerous customers access this tax credit and continues to have strong interest from potential buyers looking to capitalize on this buyers' market.

Spencer Holmes, Partner in Holmes Homes states, “It has been incredible to see the response of our customers as we have helped them to understand and acquire this tax credit. With only a few months remaining, we continue to see potential home buyers coming in and wanting to be a part of our program, the “Federal Tax Credit Advantage.”

Potential home buyers can visit any of Holmes Homes 9 decorated models in Daybreak for more information and program specifics.

$8,000 Home Buyer Tax Credit at a Glance

  • The tax credit is for first-time home buyers only.
  • The tax credit does not have to be repaid.
  • The tax credit is equal to 10 percent of the home's purchase price up to a maximum of $8,000.
  • The credit is only available for homes purchased on or after January 1, 2009 and before December 1, 2009.
  • Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.
  • Homebuyers can “amend” their 2008 tax return to receive an expedited cash benefit of this tax credit.

For additional information, please reference the National Association of Home Builders' website for a complete list of details and answers to some of the question you may have about this opportunity (http://www.federalhousingtaxcredit.com)

Holmes Homes is a 5th generation builder that is committed to building only the most energy efficient homes in premier locations. More than 16,000 homes have been constructed by the Holmes Family who builds Utah townhomes, condominiums, and single family homes. Aside from home building, Holmes Homes and its subsidiaries are involved in land development, home financing, and real estate brokerage operations. Thus far, Holmes Homes has constructed nearly 700 Daybreak homes alone and will soon be celebrating its 120th anniversary in the coming months.