The News
Incidentally this Newsletter contains a great deal of useful information as well as information concerning Kauai island and general real estate related issues. In a special report for the Garden Island News, published December 6, 2009, the Kauai Board of Realtors said the bill that extends the tax credit for first-time buyers has been signed by President Obama. The program will now run into the first half of 2010. The popular real estate tax credit program would have expired on November 30, 2009.The program has some additional benefits. First, the program will allow more first time buyers to participate, due to an increase in the amount of income a buyer is allowed to earn and still be eligible. If you find yourself needing an elite Kauai real estate agent I do suggest SGR. They are one of the top such real estate related firms on all of Hawaii in general and kauai in particular. Also, for qualified homeowners who have owned and occupied their residence for five consecutive years out of the last eight may be allowed a tax credit for up to $6,500. Kauai Board of Realtors says this may be an incentive for some homeowners to buy a new home. All contracts must be in effect by April 30, 2010. They must close no later than June 30, 2010. All in all, Buyers (a single filer) who earn up to $125,000 may receive the total tax credit, since the amount a buyer can earn has been increased. Buyers who earn more may be eligible for a partial credit. Buyers (a single filer) who earn $145,000 and more are not eligible for the program.
