The deadline in order to be eligible for the tax incentives from the Federal Government for home buyers is really causing some excitement in the marketplace right now. As most people know by now, first-time home buyers can receive up to $8,000, and seasoned home owners up to $6,500 as a tax credit if they close on a home they are purchasing before June 30 this year. The frenzy though is being caused by the realization that the deadline for the contract to purchase the home must be accepted in writing between buyer and seller by April 30th, just weeks away. Even though terms of the tax incentive program have been widely published for a long, long time, it doesn’t surprise me that a number of people have waited until the last minute. Just human nature.  ”Oh my gosh…this really is going to go away soon!”
It’s been interesting lately. I’m in the process now of showing homes to people who are trying to beat the April 30th deadline…and getting phone calls from others I know who are thinking about jumping in. One thing they almost all ask me is if I think the government is going to extend the deadline past April 30th? I honestly don’t think they will extend it…or even need to for that matter. The economy, as far as the housing market goes, is definitely heating up. I encourage anyone with questions to contact me. I’ll be happy to answer any inquiries about the tax incentive program or the market now.
The incentives would be nice to have I guess as long as you were going to buy a home anyway. But it’s never worth buying anything that you wouldn’t buy without them. And a deal isn’t really a deal if it means purchasing something at a time that wasn’t perfect, especially something as important as one’s home.
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