Home > Blogs > Karen Butler > Destin/Fort Walton Beach Florida Real Estate

Sellers/Buyers Don't Get Caught Short

By Karen Butler

Real Estate Agent with RE/MAX Coastal Properties

January 06, 2010 04:08 AM

Homeowners if you are considering selling your home this year, my advice would be get your home on the market as soon as possible. Why?

Buyers are looking to buy! Why?

The extension of the Homebuyers Tax Credit says new buyers need to be under contract by April 30th that's why!

So when do you think they are looking? NOW of Course!

But wait, I have another reason you might want to consider... Mortgate interest rates are projected to rise shortly. So if you are planning to sell your home and buy another, this might be important for you to know.

Over 1 million buyers took advantage of the $8000 First time homebuyer credit last year, and now that the program has been expanded to included non first time homebuyers with a credit of $6500, I think we will see a surge very soon in buyers as opposed to seeing a spike in May June July and August.

But for every rule there is an exception right?

First-Time Homebuyer Credit: Members of the Military and Certain Other Federal Employees

The Worker, Homeownership and Business Assistance Act of 2009, which was signed into law on Nov. 6, 2009, extends and expands the first-time homebuyer credit allowed by previous Acts. The new law:

Extends deadlines for purchasing and closing on a home.
Authorizes the credit for long-time homeowners buying a replacement principal residence.
Raises the income limitations for homeowners claiming the credit.

To view the full verbiage on the eligibility click here: http://www.irs.gov/newsroom/article/0,,id=215594,00.html?portlet=7

For more information I'm only an e-mail away.

karenbutler realtor