Now is the Time to Take Advantage of Tax Credit
There is still time for you to take advantage of the government’s $8,000 tax credit for first time home buyers but you need to act now. The deadline is December 1st, 2009 which means that closings must take place by that date. This translates to offers to purchase and contracts should be in hand by mid to end of October to ensure a closing by the deadline.
We have seen an increase in the number of first time home buyers inquiring about the tax credit in recent weeks and expect that to continue through October. This tax credit has energized the purchase of new homes below $250,000, but homes in higher price categories continue to lag behind in sales. The full tax credit is available to buyers who haven’t owned a home in the past 3 years and whose income is less than $75,000 for singles and $150,000 for married couples.
For additional information on taking advantage of the tax credit, visit http://www.beverly-hanks.com/buyer_tax_credit and call us today!
