Time is Running Out for the $8000 Tax Credit!!!

Now is the time to find your home!  This is not a scare tactic.  This is an opportunity deadline notice.

Most people buying their first home know that the first time buyer tax credit will expire November 30th. What many people don’t know is what that means to them if they are in the market to buy a home.

Fact:  Average purchase transaction takes 30-45 days

Fact: The week before November 30th is Thanksgiving

Fact: November 30th is  the Monday following the three day bank shutdown

Important Timeline Information:

· Nov 25th, most banks closed early

· Nov 26th Thanksgiving

· Nov 27th Most banks closed

· Nov 30th Tax credit expires!

· Nov 20th  Recommended last day to close

Important Highlights

· Tax credit expires November 30th

· It takes 30-45 days to complete a home purchase

· Target your closing date as November 20th to give you some space

Putting Your Plan in Place

· Start house hunting NOW! If you look at the timeline, it should be clear that you should target having a property under contract  in the next few weeks to be able to close on time.

· Call me and let’s get out there hunting!

· Plan on closing by November 20th at the latest.

A Last Note

This information will help you avoid the rush and ensure that you can close prior to the expiration of the tax credit.

If you are not already pre-approved for a mortgage you should do so immediately.  I can point you in the direction of a good lender.

Call me at 503-336-6736 and I can work out a timeline that’s specific to your needs and goals.

Above all, don’t panic. There is still plenty of time to find the home of your dreams and take advantage of the tax credit.

You just need a plan to make sure you meet the deadline.