Monday, September 14, 2009

First Time Home Owner $8000 Tax Credit - Expiring soon!!

Are you interested in buying your FIRST HOUSE? I remember when Tim and I made our first real estate purchase. Boy was it scary. And it took us a long time to make up our minds. However, we are sure glad we did it!!

WHY should you purchase now as a qualified First Time Home Buyer?
  • LOW interest rates for mortgages
  • LOW prices for real estate
  • $8,000 tax credit, for qualifiying FIRST time homebuyers
Regarding the $8,000 tax credit, IF you qualify, decision time is NOW! The tax credit expires on November 30, 2009. That means the "closing" date for the purchase MUST take place by the end of November. And in general, it takes 45-60 days from the date of purchase for a sale to close. So that means that you have only 16 days (the rest of the days in September) to get an offer on that first house accepted. There is "talk" that Congress may extend the credit, but nothing factual yet! See next blog for more on info on the First Time Homebuyer Tax Credit.

16 days and counting..... and $8,000 in your pocket!!