Local realtors are making one last attempt to draw in home buyers with the federal housing tax credit. The program allows those eligible to get 10 percent of the price on the home of their choice. Kim Hill-Olsen, president of the Yuma Association of Realtors, said, "People that have not owned a principal ownership in a residence for the last three years. You must be under contract by April 30 to purchase a property, and then you have to close the property by June 30."
Hill-Olsen said all homes at or below the $800,000 mark qualify for the tax credit, giving some home buyers up to $8,000. Hill-Olsen said, "They are using that money to update flooring, put in backyards, and pay off bills."
There's also a chance for other home buyers to get back some money from their home purchase. Hill-Olsen said, "If you are a current homeowner, and you have been in the house five of the last eight years, you would qualify for this tax credit for up to $6,500."
Eligible homebuyers can amend their 2009 taxes to get their tax credit immediately or wait until 2010. For more information on the program log onto www.federalhousingtaxcredit.com.