Though the lenders have been stressing this fact for months, I just received this press release from CNN Money reiterating the fact that the Obama $8,000 first time home buyer tax credit is soon drawing to a close.For months, a rumor circulated that the government was considering an extension. However, most lenders forecast that this will not indeed happen due to the current economic conditions.
Between the low property values and the opportunity to take advantage of the tax credit... there is NO BETTER TIME THAN NOW to be a first time home buyer.
If you are contemplating your first purchase, or know someone else who is, the time is now!
The tax credit deadline is November 30, 2009. Meaning your new property must be CLOSED by November 30th to actually utilize the credit. As the average transaction is 5-8 weeks in length... time is of the essence to locate your dream house and write a contract. Email me with any questions...
