Time is Running Out to Take Advantage of the 8K Tax Credit
Many "First-Time Home Buyers" have taken advantage of the $8,000.00 tax credit available to them under the American Recovery and Reinvestment Act.
For many other "First-Time Home Buyers," however, time is running out. The law requires that a home must be purchased and closed on a principal residence before December 1, 2009.
The Key point to remember is that you must close before December 1, 2009.
Keep in mind that many transactions take between 45 and 60 days to close. In order to take advantage of the tax credit a prospective buyer will have to make their decision to purchase by the beginning or middle (at the latest) of October.
Historically low interest rates, affordable housing, and the $8,000.00 tax credit for "first-time home buyers" makes now the best time to buy.