I don't know about youse guys... (yes, I said "youse"... are you gonna make fun of the way I talk now?) but I have been working non-stop with first-time-buyers, going out to find their first home... in a frenzy to purchase a home in time to take advantage of the $8,000 tax credit.
Now we're not going 60 mph.... but we are going 35 mph, and we're about to hit the wall. The wall of "you won't have enough time to close before November 30th". November 30th, for those who don't know, is the deadline for closing in order to get the $8,000 credit.
In order to close by November 30th... you're going to have to have a signed contract soon.... very soon. Maybe within the next 30 days or so. So if you're going to take advantage of some of your very own stimulus money... you need to get out there and find a home... just about... NOW!
The good news? (Yes, there is some good news)... the good news is that it's always possible that they'll extend the credit... but if they do so, they'll likely not do so until well after the first of the year. But in the past, when this type of stimulus was "extended", the often made it retroactive to the lapsed deadline.
What did I just say? Well, I said that if they do "renew the credit" in February of 2010... it's likely that they'll make it so that it also covers anyone who purchased a home between December 1, 2009 and whenever the new stimulus credit begins. The only problem is that those buying in December and January... will be working without a net. They just won't know, if they are, or are not going to receive a credit.
Ladies and gentlemen... the sands of time are falling through the hourglass. Will you, or won't you get $8,000.... (or more?) I dunno...
Surprise me!
ALAN MAY, Realtor®
Specializing in Evanston Real Estate and North Shore Real Estate
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Coldwell Banker Residential Real Estate, 2929 Central Street, Evanston, IL 60201
847.425.3779 Cell: 847.924.3313 Email: Almay@aol.com
Evanston Real Estate, Evanston Realtor, Evanston Buyers, Evanston Sellers
North Shore Real Estate, North Shore Realtor, North Shore Buyers, North Shore Sellers
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Kristin, I think Alan said it very well, "get out and find your house now if you want the $8000 credit!"