Deadline Friday for Home Buyer Tax Credit – Fox 16 News – Little, Rock Arkansas

Reported by: Kelly Dudzik


Last Update: 5:45 am


How does an eight-thousand dollar tax credit sound? If you buy a new home by Friday, and you’re a first time home buyer it could be yours.


You have to meet income requirements, and the home has to be less than 800-thousand dollars, but we met one family Sunday that’s really thinking about it.


“I just love this fireplace. It’s just beautiful,” said Carole Collins.


The Collins family wants to buy a new house, not today, but maybe by Friday.


“There is kind of a window of opportunity here, so we’re looking at this house. This is a house we really, really like,” said Mike Collins.


They’re seriously thinking about moving into this Saline County neighborhood.


“A lot of times, you see a large house that’s so chopped up that you don’t really get much use out of the extra size,” says Mike Collins.


That’s not the case in this three bedroom home built ten years ago. The asking price is $269,900. You can get it for eight-thousand less than your final offer though when you get your tax credit.


This isn’t just a first time home buyer tax credit, people trying to sell their homes can get 65-hundred dollars when they buy a new home.


“A lot of them don’t even know about it because I guess it gets to be like something you’ve heard over and over,” said realtor Diane Barsotti.


Get the paperwork done now, and you don’t have to close until July first to still get the money.


“If you’re really in the market, it’s eight-thousand dollars that you get as a credit and when you put it into perspective of how much more home you can buy, it’s about six dollars a thousand, so you can do the math, it’s really a lot more home for the money,” she adds.


“You get several hundred square feet, perhaps a thousand more square feet because of all the credits and everything that are occuring, right now,” says Mike Collins.


And daughter, Jana, isn’t opposed to that.


“It’s bigger than what we have now, and all my friends live around here, so I’ll get to hang out with them all the time instead of just like having to come up over here to their houses, I can be over here at my own,” she says.