Harrisonblog

We’ve been keeping you up to date on the $8,000 first time home buyer tax credit, and wanted to remind you that this credit expires on November 30th — that is just over 2 months away! To clarify, what we mean by “expires” is that first time home buyers — those that have not owned a home within the past three years — must close on a primary residence on or before November 30, 2009, in order to be eligible for the tax credit. The good news is that first timers can use the credit as a down payment, so that is $8,000 less than you’d have to save otherwise!

According to the IRS, 1.4 million families have benefited from this tax credit to date. If you are a first time home buyer, do not miss out on this opportunity! You still have time to put a contract on a house and close by November 30th. (Important: It is ideal to have 2 months time between contract signing and closing in order to get all the contingencies and financing ironed out, so don’t wait too long!)

Questions about this tax credit? Feel free to contact us or check out this FAQ.