One of the biggest components driving florida cashout home owners into the first time home buying market has been the President's $8000 tax credit incentive for florida usda.

This program has been a huge advantage to first time home buyers (technically classified as anyone not having owned a home in the last 3 years) that had previously been on the fence thinking about when the market was going to hit bottom.

With the recent Federal Reserve Treasury Secretaries projections that the recession is nearly over, we think it’s wise to point out that this market has probably run it's course. There has been over a year for buyers to purchase up some of the rock bottom priced foreclosed homes on the market. New construction has not even played a role in the housing market since late 2007.

Now the tax credit incentive is ending as of December 1st of 2009. Since economic indicators are beginning to turn optimistic it is not likely that this program will be extended past the December closure date.

This means that any first time home buyer looking to use of the $8000 tax credit must close on their purchase prior to December 1st. Since it can take often 30 days for the mortgage process on conforming loan programs, that means anyone looking to take advantage of the $8000 tax credit needs to be under contract by November 1st of 2009. That is only six weeks from now!

If you have been waiting for home prices to come down… we STRONGLY urge you to act fast so that you can claim your $8000 tax credit this year! Time is running out for you.

Mortgage rates are still VERY low, below 5% today. If you have been looking at purchasing a home in the near future or know someone who might be, please have them act quickly to ensure they get their $8000 tax credit.

Many states have found ways to use the $8000 tax credit as a down payment, but Florida is not one of those states. Credit Unions in Florida are not currently allowing the $8000 tax credit to be used as down payment. However, a gift from family and work are still allowed. In addition all programs allow the seller to contribute to your closing costs!

This is an exceptionally rare Government program that we don’t expect to see again in the near future. We hope that anyone that is prepared and was looking to buy soon will act now and ensure that they receive their $8000 tax credit this year as well as a low fixed interest rate!