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Are You A Rehabber? You Need to Know This!

The Baltimore Sun is good for one thing in my book….crabs!  Us Marylander’s love our crabs, and when we don’t have brown paper to spread out as a table cloth, we use newspaper.  Thus – the Baltimore Sun’s greatest use.

So as I was eating crabs on the back deck at my in-laws today, I noticed the following article underneath my perfectly seasoned crustacean.

“Overview of Housing Tax Credit” – by Kenneth Harney

If you are rehabbing houses that you will ultimately sell to homeowners, you must read this story.  In a nutshell the federal gov is offering home buyers a $7500 credit from April of 08 – to June 30, 2009.  This credit proves however that there is no free lunch as it must be paid back over 15 years so long as the home buyer remains in the home.

There’s more to this law and I’m no tax guy, but I do know a thing or two about marketing.  I should think this would make a pretty good selling point when marketing your next house for sale.

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