Postcards from the Lake

Time Running Out for First-Time Home Buyers Tax Credit

$8,000 Tax Credit Scheduled to Expire Nov.30

Unless Congress acts to extend the credit before the scheduled deadline, first-time homebuyers wanting to take advantage of this credit need to act soon!   Nowadays it’s taking at least 30 days to close, so I advise putting something under contract before Nov. 1.

Realtors and contractors have been lobbying, as you might imagine, for an extension of this deadline.    There is plenty of opposition to an extension of this homebuyer’s credit, so passage is far from assured.

I have no crystal ball during these uncertain times,  but if you have a stable job, decent credit, and always wanted to own a home; it’s hard to see how you could lose by acting in time to receive this credit – particularly on homes priced under $100K.  

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Author: | September 23rd, 2009

This entry was posted on Wednesday, September 23rd, 2009 at 12:29 pm and is filed under Market Trends, Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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