Saturday, September 5, 2009
8K First Time Home Buyer Credit Expires Nov. 30
It's the last weekend of summer. Can you believe the summer passed so quickly? Fall is on it's way and I'm excited. I love the change of seasons and the cooler weather. We've had a great taste of of it this week with temperatures in the 70's.
This fall we also have the expiration of the 8K First Time Home Buyers Credit. We're already seeing an uptick in buyers trying to make the Nov. 30th deadline. The big news is that your deal has to be CLOSED by Nov. 30th. I wrote about the deadline a couple of months ago and everyone in the real estate business is writing about it too. NAR (National Association of Realtors) published this article in their weekly newsletter: "Home Buyer Tax Credit Countdown Begins."
If you are a first time home buyer (and this is defined as anyone who hasn't purchased in the last 3 years), this is the time to move forward. A lot of the news sources are saying the market has hit bottom. I know I'm seeing some good deals in my area.
It's a big change from last Fall when everything was in a free fall and NOBODY was buying. I'm happy to report that sales have been up for the last three months in the DC area and Nationally. I hope the trend continues.