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Real Estate Law

• Before Buying a Home Consider The Area at Various Times of Day | New York Homebuyers Advice
• New York and New Jersey Real Estate Questions
• How Much House Can I Afford: 5 Questions You Should Answer Before Looking at Homes
• Fewer U.S. Homes Have Underwater Mortgages
• How to Get Approved for a Mortgage Modification Successfully

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Real Estate Law

• Buyer Closing Costs in New York: A Break Down of Title Bill
• New Jersey and New York Real Estate Lawyer | Understanding the Importance of Hiring a Real Estate Lawyer for Your Real Estate Transaction | Staten Island Real Estate Law Firm
• Assistance for Purchasing a Home in New York City | Help With Closing Costs and Down Payments when Buying a Home in Staten Island, Brooklyn, Manhattan, Queens & Bronx
• Information to Consider When Buying or Investing in Foreclosed Properties
• 7 Questions to ask your Staten Island Real Estate Attorney Before You Sign a Binder to Buy a Home (Part III)

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Information on Who Is Eligible for the First Time Home Buyers Tax Credit

http://www.dddilaw.com/blog/first-time-homebuyers-considering-purchasing-a-home-in-new-york-and-new-jersey-need-to-act-now-t.cfm

Purchasing a home is something that many people dream of but sometimes a person considering a first time purchase of a home may have questions such as "is it the right time to buy a house?" or "can I afford to purchase a house right now?". 

There are many tools available to help you determine whether you are financially ready to purchase a house or not, but in the recent months many home buyers have been discovering that it is the most ideal time to purchase a home, especially in New York.  The price of homes are down and you can buy an existing home or a newly constructed home for less than in the recent years because the economy hasn't rebounded enough for people to be able to sell their house at what it may have been worth back in 2005 or 2006.  Also, another great reason for purchasing a home right now if you are a first time home buyer is the $8,000 tax credit that is available.  As we know of right now this credit is only going to be available to first time homebuyers who close on a home on or before November 30, 2009 (although there is a bill that is trying to be passed right now to extend the tax credit throught the end of 2010). 

The first time homebuyer tax credit is offering many first time homebuyers the extra push that they needed and lending a much needed helping hand that many first time New York home buyers are looking for. 

Here is some usefull information for those purchasing their first home and considering the use of the $8,000 first time home buyer tax credit:

• You must be either a first time home buyer or have now owned a principle residence in the past three years prior to your current purchase
• The tax credit does not have to be repaid
• The credit is for up to 10% of the purchase price of the home and up to a maximum of $8,000
• As of right now the credit is available for home purchased from January 1 to before December 1, 2009
• In order to qualify for a full tax credit single tax payers must have an income of $75,000 or less and married tax payers must have an income of $150,000 of less

If you are interested in using your tax credit to purchase your first home in Staten Island or Brooklyn, NY contact Steven T. Decker, Staten Island real estate lawyer, to assist you through you home buying process.  In New York you need an attorney to represent you in your closing and prior to the closing.  A New York real estate attorney will help you understand the terms of your contract of sale and will help in getting you approved for your mortgage.  To speak with Steven T. Decker regarding your potential purchase of Staten Island or Brooklyn property call 718.979.4300.