Important Dates to Keep in Mind

By
Real Estate Agent with America's 1st Choice RH Realty Co., Inc.

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Home buyers need to pay attention to two important dates.

April 30, 2010 is an important date for First Time Home Buyers and Move Up Buyers.

First Time Home Buyers and Move Up Buyers need to be aware that the tax credit available for these groups will expire shortly.  In order to qualify for the tax credit you must be under contract to purchase a home by April 30, 2010.

The tax credit will expire this year and most likely not be extended.

March 31, 2010 is another date potential home buyers need to pay attention to.  On this date the Federal Reserve will stop buying mortgage-backed securities from Fannie Mae and Freddie Mac.  Speculation regarding this action is that interest rates will begin to rise from that point forward making the purchase of a home more costly. 

If you are presently in the market to purchase a new home it's important that you keep these dates in mind. 

http//:www.JonWHome.com

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Rainmaker
1,391,377
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Jon, all the buyers sitting on the fence out there need to be aware of these two dates. Thanks for the update.

Mar 23, 2010 12:36 AM #1
Rainer
204,564
Keith & Shannon French
www.KeithandShannonFrench.com - Catonsville, MD
Baltimore's Best for Rent To Own Homes

Jon, thanks for the reminder!  Although, I'm still hoping the tax credit will be extended.  Do you think there's any chance?

We've been loving the incentive for our Rent-To-Sell program.  Many of our Sellers are in a position to do a Land Installment Contract / Contract for Deed for clients who are putting up HUGE down payments.  This contract qualifies the tenant-buyer for the tax credit and it becomes an ADDITIONAL $8,000 added to their down payment.

Still hoping and keeping my fingers crossed!

Mar 23, 2010 12:43 AM #2
Rainmaker
101,632
Matthew Naumann
Exit Realty Charleston Group - Goose Creek, SC
Goose Creek, SC Real Estate Agent

Jon,

Great Reminder.  Thanks for sharing,

Matt Naumann

Mar 23, 2010 12:54 AM #3
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Ellie McIntire
Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD
Luxury service in Howard County & Catonsville

Jon- This is why I have been so busy of late. It's a crazy market for buyers and sellers.

Mar 23, 2010 01:44 AM #4
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Jon Wnoroski

Summit County Realtor
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