November 30th First Time Buyer Credit Expires

 Most people know that the first time home buyer tax credit will expire November 30, 2009.  If you are looking for a home you need to know and understand these facts:

 

Fact: The average timeframe from when you find a property until it closes is 30-45 days.

Fact: You will need some time to find the property that you wish to buy. Some buyers are lucky and find their home quickly, but others need more time.

Fact: The week before November 30th is Thanksgiving! Many banks and title companies are traditionally closed for the last 3 days of that week.

Fact: November 30th is the Monday following the typical 3 day bank shutdowns.

Fact: There will surely be many, many buyers who will wait until the last minute to start looking for homes. This means that November 30th is sure to be an extremely busy day and many banks and title companies will not be equipped to handle all of the expected volume.
Fact: As more buyers start to frantically hit the market to take advantage of the tax credit the selection of properties is sure to decrease. This will result in fewer options for all buyers.
Fact: You NEED a plan to take advantage of the $8,000 tax credit. Waiting too long is a gamble that you should not take. You need to work with a team of professionals who can develop a plan with you to hit the deadline

Start your search at www.portland-listings.com today and contact me for a consultation on the tax credit and your home-buying experience.

September 16, 2009 · Filed Under Events

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