Articles on Homebuyer Tax Credit

High Taxes Spark British Invasion of NYC

The English are increasingly investing in Manhattan real estateWatch out, Manhattan real estate: the British are coming. Currently faced with a wave of tax burdens in London, local property buyers are being provoked to take their business elsewhere. Back in March, the British government began cracking down on tax avoidance, focusing tax-collections on the city’s biggest buyers: foreign investors. According to a recent study, purchasers of London property priced over £2 million are paying twice as much in transaction taxes than those buying in New York. So from the Irish buying out Midtown to the French election prompting wealthier residents to relocate, many Europeans are finding New York City to be a safe haven for their investments, and the Brits are just the latest group geared to make an impression on our market.

Everything You Need to Know About the Homebuyer Tax Credit Before Buying a New Condominium in Manhattan

moneyOn November 6, 2009, President Obama signed a bill to extend the tax credit for first-time homebuyers (FTHBs) through June 30, 2010. The bill also opens up opportunities for others who are not buying a home for the first time. Here are some frequently asked questions about this new law, and some answers you'll very much want to know before buying a new condominium in Manhattan.