Annapolis First Time Homebuyer Math: The Countdown Continues
August 12th, 2009 Categories: Buyers
Waiting is Not a Great Strategy if You Plan to Get a Slice of the $8,000 Tax Credit Pie Uncle Sam is Serving
Waiting is human nature. I usually wait too long between dentist appointments, wait to say my prayers until I buy a lottery ticket, wait until I’m pretty fried before I take a vacation. Most of us can relate.
But if you’re waiting to take advantage of the $8,000 tax credit that’s available to eligible first time homebuyers, you need a serious kick in the pants.
If you’re thinking the offer will be extended, don’t count on it. Uncle Sam’s pockets seem to be getting shallower by the day. All that Cash for Clunkers, you know…
If you’re waiting for interest rates to go lower, you’re probably dreaming at this point.
And if you’re waiting because you think there’s plenty of time, think again. The program ends on November 30, 2009. If you haven’t gone to settlement by that day, you’re out of luck.
Say it takes you 30 days to find your dream home. Now you’re in the middle of September. Next, figure 4 to 6 weeks to get to the settlement table. If there are any delays or glitches at all – and there often are, with loan applications, inspections, and agents whose cell phones don’t get service in Tahiti – you’re cutting it very, very close.
So, step lively. And give us a call if you really want to buy your dream home and take advantage of this credit. (Don’t forget, you’re considered a first time homebuyer if you haven’t owned a home in 3 years.)
Not only are we at The Moss Haedrich Team ready for the last minute rush of new clients…we’re offering anyone who buys a new home with us by the end of 2009 a $250 moving expenses credit at settlement. Send us an email at KenHaedrich@gmail.com or call us at 410-507-7222 and we’ll tell you all about it.
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