tax credit: As the door slams shut on the current tax credit, which new windows of opportunity will be opened?
- 10/15/09 12:29 AM
We all know about the impending November 30 deadline for getting a transaction completed for eligible purchasers to qualify for the federal tax credit. Realistically, if a house is not under contract as of today, it probably will not close in time and the chances are that the opportunity to get the first-time homeowner's tax credit in its current form will be lost. However, the market is not robust enough to support a complete recovery without incentives, so it is likely that some new opportunities will be created for buyers. In the meantime, we are in no-man's land until something concrete … (22 comments)
tax credit: Sellers are put on notice. Start packing and be ready to go by November 30
- 10/10/09 12:25 AM
As the November 30 deadline for the expiration of the first-time homebuyer tax credit approaches, the availability of bargain properties is diminishing drastically. Short-sales are probably out, as there is not enough time left to assure a purchase will occur by the cutoff date. HUD homes are allowing 45 days to close in our area, but if anything goes wrong you will not get to closing in time if you purchase this weekend. The "best bet" right now is a motivated conventional seller, willing to negotiate fair terms and move "QUICKLY!" The buyer can get excellent terms and conditions, a market … (18 comments)
tax credit: "Your short sale listing ... if I write an offer today can we get it closed by November 30?"
- 09/26/09 12:09 AM
Wow, that's a tough question. With the first time homebuyer's tax credit deadline just a little over two months away that is the $8000 question. And it is, of course, impossible to answer. Every case is different, and while it may be possible to get the deal closed by the deadline, there are no guarantees in the world of short sales. We have closed some with local banks in just over a month, but this is a large institutional lender that would require approval from the investor. It could happen, it really could, but I still cannot answer that question less … (26 comments)
tax credit: The $8000 first time home buyer's tax credit. Time is running out ...home buyers need to take advantage while they can.
- 08/01/09 12:13 AM
2009 seems to be flying on past. We've already been through the first seven months, and the year is waning quickly. It's almost time for school to start, and fall will be here before you know it! As the year slips away, so does the opportunity to cash in on the $8000 first time home buyer's tax credit. There is a deadline looming, and there are some important considerations. First, the house must be CLOSED by November 30,2009. That means the HUD-1 settlement statement must be dated prior to December 1 2009. And since some properties are taking up to 60 … (28 comments)
tax credit: Coweta County first-time home buyers may qualify for an $8000 tax credit!
- 03/05/09 11:03 AM
Although there are several qualifications and limitations, the new $8000 tax credit is stirring up sales in Coweta County and across the country. The credit is a refundable credit, which means that you can earn it even if you have no income tax liability. And you can claim the credit right away, no need to wait until the tax year is over The credit is equal to ten percent of the value of the home purchased, up to $8000. A first time home buyer is defined as anyone who has not owned a home in the last three years. There are … (6 comments)
We all know about the impending November 30 deadline for getting a transaction completed for eligible purchasers to qualify for the federal tax credit.
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