Deadline Approaches for First-Time Homebuyers to Qualify for $8,000 Tax Credit

    DUBLIN, OH, September 21, 2009 /24-7PressRelease/ -- The deadline is quickly approaching for first-time homebuyers to take advantage of the 2009 Economic Stimulus Bill that provides qualifying buyers a one-time tax credit of $8,000. New homebuyers interested in taking advantage of the tax credit are nearing the deadline to complete their purchase. Buyers must close on their new home before November 30, 2009 to receive the tax credit.

The Economic Stimulus Bill has spurred home sales since its passage in February. A recent Realtor.com survey cited the tax credit was as the most important reason for buying a home, according to nearly 15% of surveyed first-time homebuyers.

"This tax credit means a lot to people considering the purchase of a home," William G. Cornely, President and CEO of Dominion Homes said. "At Dominion Homes, we're helping first-time buyers determine if they qualify for the tax credit, and then working with them to find the ideal home for their family and their budget. Dominion currently has more than 125 homes under construction and available for purchase that can be completed before the November 30th closing deadline."

Some key requirements to qualify for the first-time homebuyer tax credit:
• The term "first-time homebuyer" applies to individuals who have not owned a home in the past three years.
• The tax credit applies to single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000.
• The credit is equal to the lesser of $8,000 or 10% of the purchase price of the home for first-time buyers.
• The tax credit does not need to be repaid if the home is occupied as the buyer's personal residence for the first three years from the date of purchase.

"The most important thing is for homebuyers to be fully aware of the tax credit requirements, and make the decision that's right for them," said Cornely.
For more information about the tax credit, or to find out if you qualify, visit www.dominionhomes.com/finance-my-home/2009_stimulus.asp.

About Dominion Homes
Founded in 1952, Dominion Homes is one of the leading homebuilders in Columbus Ohio, as well as Louisville and Lexington, Kentucky, and is among the top builders in the country. Its priority is to construct quality, energy-efficient homes in the best communities for its customers, to provide great service, to be a leader in innovation, and to be a good neighbor. It is this commitment that ensures its continued success in building affordable, high-quality, eco-friendly homes. For more information about Dominion Homes visit www.dominionhomes.com.

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