November 30th Deadline on 2009 Tax Credit for Buyers: What does it mean for Home Sellers?

The $8,000 Tax Credit Expires November 30th 2009

The $8,000 Tax Credit Expires November 30th 2009

With the $8,000 tax credit scheduled to end Nov. 30, the number of home buyers looking to take advantage of the credit (as well as the historically low prices and low interest rates) is starting to increase as the year winds down, especially as we start seeing glimmers of an economic upturn for the real estate market. If you’ve been waiting for the right window of opportunity to purchase your first home, (or put your home on the market) this might be the time. I’d be happy to answer any questions you might have. Feel free to call me or email me any time. For more information on the Tax Credit, visit http://www.federalhousingtaxcredit.com/2009/faq.php.

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Posted in First Time Homebuyers, Resources |

This entry was posted on Tuesday, August 4th, 2009 at 8:46 pm and is filed under First Time Homebuyers, Resources. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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2 comments

Janet Crites:
 1 

When do you think you would have to have the sale started by to be complete by Nov. 30th.

FHA loan 25% down. first time buyer?

September 12th, 2009 at 5:51 pm
Marguerite:
 2 

Typically FHA loans take 30 days to close. You want to double check with the lender that prequalified you to make sure they don’t have any special time frames they have to do.

For example, I had a client tell me her lender told her they couldn’t do FHA in fewer than 60 days. This is pretty unusual.

I had two clients go FHA in August and one of the loans took 30 days and the other took 20.

If I was you I would try to have something under contract by November 1st at the absolute latest. Remember- a LOT of people are going to be rushing to take advantage of the credit at the last minute- so if you can get ahead of that curve- all the better! Feel free to call or email me if you have any questions.

September 13th, 2009 at 11:16 am

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