Adieu, My Sweet $8,000 Tax Credit!

Real Estate Agent with Seven Gables Real Estate

Ah, my dear Federal Tax Credit, parting will be such painful sorrow.  You have seduced my First Time Home Buyers with your irresistible offer of $8,000.  They have been lined up waiting to catch a glimpse of your promising reward, but now they may not make it past the front door before you say goodbye on December 1. 

Before seeking you out they made sure their maximum AGI of $95,000 single and $170,000 jointly met your requirements.   For their patience and bravado you offered them up to 10% of their new homes purchase price not to exceed $8,000.  They swore allegiance that they would maintain primary residence and keep it for three years. 

First Time Home Buyers have showed up at your venues and tried to get your attention along with many other competitors, but your promise has eluded them. Hopes cannot be dashed so easily.  They have until mid October to secure their escrow and until December 1 to close the sale. 

In the end we must bid you adieu, but hopefully my First Time Home Buyers will wave goodbye with your treasures awaiting them at tax time!

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Comments (2)

Skye Freeman
Exit Realty - Big Bear - Big Bear Lake, CA

There are rumors about extending/increasing it, but who knows. The government will most likely wait for this one to expire before implementing a new credit.

Jul 22, 2009 05:51 AM
Carolynn Santaniello
Seven Gables Real Estate - Orange, CA

Thanks, Skye.  I am praying the rumors are true so I can get all my FTHB's their first home and some extra money courtesy of the government.

Jul 22, 2009 06:14 AM