First time home buyers beware
By Anja Kerstens, 669.270.8034, GRI, NHCB, CDPE, CHS. Silicon Valley Homes
(Compass)
First Time Home Buyers Beware - You are running out of time. Prices are down, sales are up and many first time home buyers are back and ready to purchase their first home. If you are a first time home buyer you don't want to wait too much longer because the deadline for the $8,000 first time home buyers tax credit is approaching soon. This tax incentive is expiring on November 30th at 12 midnight. First time home buyers will have to complete the purchase of the property under contract before this deadline. That means that first time home buyers will have to find a property AND be under contract before the end of September 2009. It takes 2 months on average to close a sale; mortgage approvals take longer, appraisals are also delayed under the new HVCC regulations that took affect o...
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