The tax credit is coming to an end. At the end of November 2009 the $8000 tax credit will no longer be able to be used.

What is the $8000 tax credit? The tax credit is exactly what it says, “It’s a tax credit”. It cannot be used for down payment or closing costs. It does not come to you in the form of check. It comes to you as a credit when you file your 2009 tax return. The U.S. Government as part of the stimulus package instituted the $8000 tax credit to first time home buyers. If you are a first time home buyer then you can file for the credit.

All of us in the real estate community have been lobbying our Congress to extend this credit. We have also been asking that this credit be used for all buyers as long as they are owner occupants. That is also true of the first timers is that be owner occupants. Since home prices have fallen and interest rates are low, it’s a great time to be a first time buyer.

So why are so many of you waiting? Are you waiting for prices to go lower? Are you waiting for rates to go lower? I don’t know! I do believe that in my 25 years of selling real estate I have never seen such a perfect scenario. The prices are low, the interest rates are within ½% of record lows and you get a $8000 tax credit. Call us now before it’s over. I know you will be happy you did.

Thanks,

Brian