Source: Chicago Tribune, Kathleen Lynn (08/14/09) Real estate professionals report that first-time home buyers are flooding the sale market, pressed to finalize a deal before the federal government’s $8,000 tax credit offer expires on Nov. 30.
Because mortgage approvals, residential inspections, and other steps in the buying process typically take about two months, buyers hoping to take advantage of the incentive will need to have a contract by the end of September.
The new flurry of activity now as house-hunters try to meet the deadline is triggering bidding wars and energizing the property market, which historically is slow at the end of summer. As a result, more homes are getting their full asking price.
This is brought to you by Philadelphia Real Estate Blog
Related posts:
- The 411 on the $8000 Tax Credit, April 30 deadline coming! First-time home buyers and those who have not owned a...
- Tax credit Passed & Extended, awaiting prez. signature. Congress extended and expanded the first-time homebuyer tax credit to homes...
- House extends Tax Credit to Sept. 30th, awaiting senate approval The House of Representatives has just passed HR 5623, the...
- Obama Backs Extending $8K Tax Credit & has Bi-partisan Support White House spokesperson, Robert Gibbs, just confirmed that Obama backs...
- TIME-TICKING for the $8K Tax-Credit (Full Info) Those who want to receive the $8K tax-credit that is set to...
Related posts brought to you by Yet Another Related Posts Plugin.
