Many people are just getting turned on to the fact that the Government will give a first-time buyer an $ 8,000 tax credit for buying a house. It's a great program ! With prices low and interest rates low, it is just an additional reason to agree that now is the time to buy.
HOWEVER.......... the tax credit expires on December 1st. That means you must have identified the house, negotiated the sale, survived escrow and loan approval, and closed the deal by December 1st. Yes....CLOSED THE DEAL by December 1st. It is now June. To be anything like safe, you need to be in escrow by September. That means you should be looking now!
I fear I will be hearing some screaming from 1 st time buyers in December who have missed out. Maybe the Government will extend it....but maybe they won't.
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