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Debbie Greto

Tax Credit Countdown

09-10-09
Debbie Greto

It is starting to get down to the wire for first time buyers wanting to cash in on the tax credit. The last few weeks I have had lots of buyers jumping into the market before the deadline. There is a bill trying to extend the credit into 2010 but I am encouraging my buyers to make a move sooner rather than later. I would like my buyers to be under contract by October 1st. This date gives me plenty of time to complete even an FHA transaction with a little time to spare. My worry is that the systems are going to be overwhelmed the last month with buyers trying to make the deadline. Hic-cups are common in this business but I don't like to put extra stress on a deal with timeframes.