Only 4 Months Left for Tax Credit for First-time Home Buyers!

As you most likely know, the federal housing stimulus plan allows for an $8,000 tax refund for first-time home buyers. You may not know that this incentive is only good for homes closed by the end of November 2009. You also may not know that it is taking between 45 and 60 days to close most residential real estate transactions, leaving around 2 months for buyers to capitalize on this terrific opportunity.

Home sellers can also take advantage of this credit by ensuring that their homes are on the market and listed on the MLS while the tax credit is in full force. Many sellers are holding off on listing not realizing just how many homes are selling each month as a direct result of this limited time offer. The National Association of Realtors reports that we are still on track to sell just under 5 million homes this year, still in record high territory relative to the last 20 years.

If you have any questions, contact Becca Hendricks, Century 21 Signature Real Estate Realtor.