Archive for August 3rd, 2009

First Time HomeBuyers: Why the Real Deadline is October 5!

August 3rd, 2009 categories: Buying your Home

Can you hear it….. it’s like a freight train in the distance the First Time Home – Buyer Tax Credit December 1, 2009 deadline is closer than you think and here’s why.

As you probably know the US government has a great program to help first time home-buyers** with up to a $8,000 tax credit if you purchase a home before December 1, 2009. **if you haven’t owned a home in three years you too may qualify as a first time home-buyer!

OK Mike it’s August 3rd so what’s the rush? Three dates you need to know:

September 14: START LOOKING AT HOMES - Charlotte’s under $250,000 housing market is hot and it will get hotter closer to the deadline. See the Charlotte Observer article “Bargain houses selling as others keep sitting“

October 5: SUBMIT OFFER - Let’s talk about about closing dates with the rush to beat the deadline and new truth in lending restrictions you MUST give yourself six weeks to close! To make matters worse the deadline (November 30) is a Monday, and the week prior to the First Time Home – Buyer Tax Credit deadline is Thanksgiving! Yes to meet the December 1st deadline you better be submitting your offer to purchase no later than October 5 – time is of the essence!

November 30 - You need to be cuddled up with some hot cocoa next to fireplace in your new den!

Everybody has questions about the First Time Home-Buyers Tax Credit program, it’s a government program after all! We can help you with answers email us here or we can put you in touch with a professional, knowledgeable lender who can help you out — don’t let this opportunity pass you by!

Authored by Donna Johnston | Discussion: Your Comments Please »