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Some Crofton Homebuyers Still Eligible for Tax Credit

That tax credit ain’t over ‘til it’s over.

In fact, the tax credit will continue to be a factor for homesellers in the greater Crofton area for another year.  That’s because we have a steady stream of military families always relocating to Maryland for duty at Fort Meade, Andrews AFB, the U.S. Naval Academy, the National Naval Medical Center and other military facilities in the D.C. area.

Tax formAnyone serving on active duty outside of the U.S. for 90 days between 12/31/2008 – 5/1/2010 may still qualify for the tax credit.  Certain other federal employees may also enjoy this benefit – for example, those serving overseas with the State Department.  In the case of a married couple, only one spouse must be overseas on official extended duty during the required time.  Even your next door neighbor could be eligible if his/her spouse served in Iraq or elsewhere for at least three months since January 1, 1009.

Crofton area homesellers can position their homes to attract these home buyers in a number of ways.  For example…

  1. Offer to sell with VA financing – Some homesellers shy away from VA and FHA financing, which could eliminate many military buyers.
  2. Offer to pay all or part of the buyers’ closing costs – No seller wants to do this, but many end up doing it anyway.  So offer it “up front” to attract the no-down VA buyer who may have equity tied up in a home at his/her last duty station.
  3. Ask your agent to make your home listing accessible on military-friendly websites such as pcs2md.com.  

MORE INFORMATION:

For more information about the extended tax credit for military and civilian federal employees, CLICK HERE.

RELATED POST:

Have Crofton Real Estate Sales Dropped Since the Tax Credit Ended?

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FocusOnCrofton.com is your one-stop source for information about Crofton, Maryland, and the surrounding area.  It’s my way of keeping current residents informed about their community and real estate matters while also attracting relocating home buyers to the Crofton area (including Bowie, Crownsville, Davidsonville, Fort Meade, Gambrills, Millersville and Odenton).  Please feel free to contact me any time for more information about these communities.

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