"Baltimore realtors and real estate agents should make their clients aware of the tremendous opportunities offered as the 2009 real estate market begins to heat up. As the market changes drastically during the coming months, it is imperative that and real estate agents understand and research all available programs, grants credits and other incentives that may be available to their buyers.

There are an incredible amount of incentives for first time home buyers and move up buyers in Baltimore city. A competent realtor will have all of these resources at his or her disposal. He will also work with a team of educated real estate professionals who are able to help buyers achieve these incentives.

For instance, in Baltimore (as well as the rest of the country) may be eligible for the home buyer tax credit implemented with the passage of the economic stimulus bill. This provides an $8,000 refundable tax credit to first time home buyers purchasing a home in 2009. First time home buyers are defined as those who have not owned a property in the last 3 years.

It should be noted there are a few restrictions on this first time home buyer credit. The buyer must purchase the new home prior to December 1st, 2009. There are also income limitations. Anyone earning $95,000 or less will receive some type of credit, though your income will need to be $75,000 or less to earn the full $8,000. The $8,000 is also dependent on the purchase price. If the home is less than $80,000, the buyer will receive 10% of the purchase price as a tax credit, instead of the full $80,000. Also, this credit must be repaid if the buyer sells the home within 36 months.

In addition to this stimulus tax credit, Baltimore city real estate buyers have additional incentives available. The ?Buying Into Baltimore? program, for example, offers a $3,000 forgivable loan to help towards closing costs and down payment. The amount of the loan to be repaid decreases 20% per year for 5 years, after which the loan is completely forgiven. The buyer must also attend a home ownership counseling class prior to submitting a contract on a property. Your realtor or real estate agent can direct you to a home counseling center to obtain your certificate.

Those buyers with generous employment benefits may find that their employer participates in one of the home buying incentives available in Baltimore city. ?Live Near Your Work? and ?House Keys 4 Employees? are two of the more common programs available, offering 0% deferred loans to employees toward their home purchase. These incentives are offered directly by local Baltimore employers and are matched dollar for dollar with state funds. Your realtor, real estate agent or human resources department can help you determine if your employer participates in one of these programs.

These are just a few of the many incentives available to first time home buyers and move-up buyers in Baltimore city. There are dozens of programs, incentives and grants available.

The combination of the available incentives, the lower home prices and the season presents a fantastic opportunity for first time home buyers in Baltimore to purchase a home at an excellent price. Baltimore realtors, real estate agents and professionals should be poised and educated to help these buyers take full advantage of their opportunities.

A dedicated, educated realtor or real estate agent will let their client know of these various opportunities and help them take the correct path to qualify and utilize them.

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