Time is all but ran out on the $8000 first time home buyers credit

If you are a first-time home buyer and want to take advantage of the $8000 tax credit, time is really running out now.

The deadline to take advantage of this credit is before December 1, 2009.

What does this mean to first-time home buyers?

Well, it takes about 30-60 days to close on a home barring any issues that may arise. It’s now October, 2009. A buyer must find their home now in order to close on November 30, 2009. That’s just a little under 60 days people.

If you are someone who doesn’t like to be rushed, perhaps this time crunch is not for you but if you are someone who wants to buy their first home and feels that this credit is well worth this final push, then get out their with me or your agent today and find your home.

This also means that you need to have your financial situation already taken care of. You will only delay your process more if you go out to view homes without first being approved for your mortgage.

A few other quick facts worth mentioning are that a first-time home buyer is a buyer who has not owned a “principal” residence during the last three years prior to this purchase. This also means that if you are married and one of you has never owned a home but the other has, neither of you are qualified for this tax credit.

The amount of the credit is equal to 10% of the purchase price with a maximum credit of $8000.

From Scott Larson of Towne Square Realty in Monroe, Wisconsin

“Your Realtor of the Region”

E- Mail scott@greencountyhomeguide.com

On the web at greencountyhomeguide.com

I think you will be surprised how affordable the Dairyland is,

so come to my land of cows and plows and visit for a day, but stay for a lifetime

608-2124-9844 Direct