How will the new tax credit affect people who want to buy Laurel Maryland real estate? Is the tax credit good for any first time home buyer of any Maryland real estate?

The answer to the second question is “yes”.

Two quick points.   First time home buyers of Maryland real estate, if they meet certain qualifications, will receive a tax credit of up to $8000 when they purchase a home between January 2009 and December 2009.

This means if at the end of the year, you owe $3000 to the IRS, you would receive a refund of $5000! And you do not have to pay it back.  I believe you must stay in the home for at least three years.

The following link will be very helpful:  www.federalhousingtaxcredit.com

If you have any other question about Maryland real estate visit, Maryland real estate agents.