First Time Home Buyers Tax Credit is ending soon
As your Realtor I can assure you that the $8,000 first-time homebuyer tax credit has definitely been a success. Homebuyer interest and housing sales increased almost as soon as the ink was dry on the tax credit legislation. Today's lower prices and interest rates appeal to consumers, but it's been the tax credit that has attracted people to open houses and to homeownership.
A homebuyer is eligible for the tax credit only if the home is "purchased" before December 1, 2009. That means that buyers have to find a house, complete a contract, satisfy any contingencies, secure financing and go to closing by November 30. Accomplishing those tasks by November 30 will become more difficult with every passing day. In today's market, it generally takes between 45 and 60 days to go from contract to closing.
The market has improved, prices are on the rice and you should buy now when the inventory getting low. The $8000 first-time homebuyer tax credit will end soon. As the law stands today, eligible buyers will actually need to get under contract almost immediately in order to be able to close their transactions in time. The law requires that closing must occur by November 30th for buyers to actually take the credit.
Don’t loose out on this great opportunity and call me today at 850-385-4038 before it is to late for you to qualify for your First Time Home Buyers Tax credit up to $8000.