YES, IT'S TRUE! HOME BUYERS IN NORTHERN VIRGINIA CAN RECEIVE AN $8,000 TAX CREDIT.
AN $8,000 tax credit is good. It's money in your pocket, or at least reducing your 2009 tax bill owed.
QUESTION "Lenn, what if I only owe $4,300 federal taxes for 2008? What happens then?
ANSWER "More good news. If your tax bill is less than $8,000, you receive the difference as a REBATE".
QUESTION "Are there income limits to qualify for the tax credit?
ANSWER "Yes, it's $75,000 a year for a single filer and $150,000 for married joint filers.
QUESTION "Lenn, how much home can I buy with my income of $75,000 a year?
ANSWER "Probably more than you think. With the lowest mortgage interest rates in a generation, you will qualify for a lot of home with $75,000 income. Low interest rates and home prices the lowest in about 5 years, there are some wonderful homes in your price range.
QUESTION "How much home can I qualify for with $75,000 income?
ANSWER "You qualify for home in the $300,000 price range and that price range includes many lovely homes. Some homes in the $300,000 price range in Northern Virginia are below. Just look at what you can buy in Arlington, Alexandria, Fairfax, Fauquier, King George, Loudoun, Spotsylvania, Stafford Counties in Northern Virginia.
Click on City for photos and more information.
| County | City | ListPrice | BR | BathsAll | Lot Acres | YrBlt |
| ARLINGTON | Arlington | $299,900 | 0 | 1 | 2007 | |
| ALEXANDRIA CITY | Alexandria Old Town | $299,000 | 2 | 2 | 2003 | |
| FAUQUIER | Bealeton | $299,999 | 4 | 3 | 0.23 | 2002 |
| FAIRFAX | Alexandria Fairfax County | $299,900 | 3 | 2 | 0.195 | 1976 |
| FAIRFAX | Centreville | $299,900 | 4 | 3 | 0.205 | 1984 |
| KING GEORGE | King George | $299,900 | 4 | 3 | 0 | 2004 |
| LOUDOUN | Round Hill | $299,900 | 4 | 3 | 0.17 | 2005 |
| PRINCE WILLIAM | Bristow | $299,000 | 5 | 4 | 0.097 | 2005 |
| SPOTSYLVANIA | Bumpass | $299,950 | 3 | 3 | 1.01 | 2004 |
| STAFFORD | Fredericksburg * | $299,990 | 4 | 3 | 0.184 | 2009 |
*New home REBATE - $3,000 in addition to Income Tax Credit of $8,000.
New Home in the $300,000 price range in Stafford County, Virginia
For more information about the $8,000 First Time Home Buyers Tax Credit, visit Homefinders.com.
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| Arlington County |
Alexandria Old Town County |
Fairfax County | Fall's Church City |
Fauquier County |
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| King George County |
Loudoun County |
Spotsylvania County |
Stafford County |
Prince William County |
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