National Association of Realtors estimates that about 1.8 to 2 million first-time buyers will take advantage of the $8,000 First Time Homebuyer tax credit this year, with approximately 350,000 additional sales that would not have taken place without the credit.
Buyers have little time to act because they must complete the transaction by Nov. 30 to qualify for the credit. Unless extended, contracts signed but not completed by that date will not be eligible – it is taking approximately two months to complete home sales in the current market. If it's a short sale it can be longer.
© 2009 FLORIDA ASSOCIATION OF REALTORS®
contact me at 561-306-6736 for more info or email rebuygeorge@yahoo.com
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