Los Angeles Times article details how political forces are trying to extend the deadline for the $8,000 tax credit to first time home buyers that is set to EXPIRE November 30, 2009. This is a little over 90 days from now, leaving 30 days or so to shop for a 60 day escrow. Considering that many first time buyers keep homes less than 3 years, it can have the effect of lowering monthly costs by $222. It is an amazing opportunity, and they intensity of buyers in the first time price ranges is intense.
We have a portfolio of distressed properties that would be great buys for first timeowners, contact me if I can help!
Link to the article: http://www.latimes.com/classified/realestate/news/la-fi-harney23-2009aug23,0,1446541.story
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