This week’s “My turn” column is by Joan Fox and Barbara Roberts. brokers and owners of Prudential Fox Properties in Oneonta and Cooperstown.

Time may be running out to take advantage of the federal government’s first-time homebuyer’s tax credit.

If you buy a house for at least $80,000 before Dec. 1 and make less than $75,000 a year ($150,000 for couples), the government will give you $8,000!

You can use this money to reduce your bank fees (related to the purchase) or put it into your pocket. It’s called a tax credit because the government considers it a refund of your federal taxes _ even if you owe less than $8,000 in federal taxes.

In other words, if you qualify, buy a house this year and owe and pay $2,000 in federal taxes in 2009, Uncle Sam will send you a check for $8,000.

Full story is available on The Daily Star