The $8,000 first time home buyer tax credit will be expiring November 30, 2009. Your chance to capture this one time credit is quickly running out. In order to take advantage of the tax credit your transaction must be recorded by November 30, 2009. That gives you roughly two weeks to identify and place an offer on your first home. Why so soon?
Real estate transactions are taking, on average, two weeks longer to close because of the new lending laws enacted earlier this year. What used to take 30 days to close is now approaching 45 days to close and record your purchase.
So, don't delay on utilizing this gift from our government. All though there is talk of extending this credit, there is no guarantee it will be extended.
Central Oregon home prices are at bargain levels right now. Combine that with the attractive mortgage rates and chances are your mortgage payment may be the same as your monthly rent.
Give me a call and start the process of home ownership!
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