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107 Days Before the 1st Time Homebuyer Tax Credit Goes Bye Bye......

By
Real Estate Agent with Reece and Nichols Realtors

Did you know that there are 107 Days before the 8000.00 tax credit for 1st time homeowners will disappear? Remember that is the number of days that you have to have it closed to get this  money from the government. If you write a contract on Dec. 1st; it will not count. You have to close on the home you are buying before that time.

Also, Thanksgiving is a few days before that...don't wait until the last minute..if there are problems getting the loan closed; you will be out of luck.

Some of you pestimists are saying; there will be another tax credit..I'm going to wait..maybe, maybe not; do you want to chance it? Also, the rates will go up and that is a fact, that we are about to witness.

Again, if you are on the fence get off and find you a Realtor! I would be glad to assist....107 Days sounds like a lot of days; but it will come quick. Remember it takes about 30 days to close or more...so realistically if you wait to the last minute, the end of October would be the lastest to be safe on getting it closed on time.

Until next time....Becky Alumbaugh, Reece and Nichols #10 YTD; The Diva Team

Eric Reid
Renaissance Realty Group of Keller Williams Atlanta Partners - Lawrenceville, GA

Time will fly and I can bet there will be more then more closing stuck at the table at midnight

Aug 17, 2009 12:59 PM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Can you imagine what the 30th of November is going to look like this year????

Aug 17, 2009 01:03 PM
Patricia Aulson
BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate - Exeter, NH
Realtor - Portsmouth NH Homes-Hampton NH Homes

Hey....if you snooze you lose as the saying goes..  There's not much time left when you look at the calendar. Maybe this will boot some butts off the fence.

Patricia Aulson/portsmouth nh real estate

Aug 17, 2009 01:10 PM
Patricia Aulson
BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate - Exeter, NH
Realtor - Portsmouth NH Homes-Hampton NH Homes

Hey....if you snooze you lose as the saying goes..  There's not much time left when you look at the calendar. Maybe this will boot some butts off the fence.

Patricia Aulson/portsmouth nh real estate

Aug 17, 2009 01:10 PM
Andrew Lietzow
IaREIA | Iowa Landlord Association - Des Moines, IA
MBA-Exec Dir Iowa Real Estate Investors Association -

Looks like I'd better kick it into high gear if I'm going to close a few more 1st-timers yet this year.  Been so busy with SS's (from the last wave of 1st-time house buyers), that I've failed to do much marketing to this group. 

I did help one client fill out the tax credit request form, however, and it REALLY made me wish our rich uncle would extend this another six months, but just to people who are purchasing an REO or a new house.  This is really where we still have the glut of inventory.  Ah, but then they might be accused of being discriminatory.  

107 days.  Food for thought...

Aug 17, 2009 01:27 PM
Robert Schwabe
Herron Real Estate - Orange Park, FL
Orange Park Real Estate

Becky - The deadline is coming up real quick. First time home buyers need to to get something going before they lose the tax credit.

Aug 17, 2009 02:48 PM