Tuesday, September 29, 2009

15-30 days left for $8000? First Time Home Buyers Scramble!

First Time Home Buyers may be too late for $8000 tax credit. 

The $8000 tax credit expires Nov 30th however, it currently takes 30 to 45 days to close an escrow.  That means you only have 15 to 30 days to get an offer accepted.

(Update - Credit has been extended.  You must be under contract by 4/31/2010,  The Senate Finance Committee and Capitol Hill in general, are not inclined to extend this program again. The National Association of Realtors, the lobbyist for this program, were cautioned that any discussion regarding a further extension of the program was not likely, and would certainly be met with opposition.)

I would not count on the extension.  Bernanke said the recession is over and we have started back to recovery.  Therefore, he states, we need to cut back on some of the stimulus money.  Will it mean the $8000 is gone - maybe?

See my Blog below from Monday, September 7, 2009 for more information on how to get your $8000 share of the Stimulus Money.

Call me now to set up time to see property and get you into your new home. 
          Don't be left alone on the fence.

Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Expert
Taylor Place Real Estate

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