There are only 51 days left until the First Time Home Buyer Tax Credit runs out. The extended tax credit deadline means you have to have your P&S signed by April 30th. So far out of top 7 Boston neighborhoods 190 condos have been sold under $500k (a typical threshold for first time buyers). If you’re interested in taking advantage of this tax credit before time runs call me this week to get started! 617-449-3642

The First Time Home Buyer  Tax Credit was officially extended today. President Obama signed the bill into law, creating an extension and expansion of the credit for new home owners. The extension covers first time buyers who purchase by April 30th 2010 and must close by June. This gives those of who you have been sitting on the sidelines for the past few weeks plenty of reason to get back into the game again. You will still get the same $8,000 that you would have if you had bought earlier.

As for the expansion part, the credit is now being expanded to anyone who has owned their own home for the past 5 years and wants to buy something new. For these people the credit will only go up to $6500 but it’s still a great incentive. There are of course income limitations with both of these credits but they have been raised above what they previously were at. For more information on the tax credit or if you’re interested in purchasing a new home, please don’t hesitate to call us at 617-449-3642 or search our website.

It’s crunch time for those looking to take advantage of the First Time Home-buyer Tax Credit. The clock is certainly ticking on them to get started and to illustrate that point I’ve added a count down above. The current plan is for the credit to run out on November 30th which gives potential buyers just over 90 days from today to close on a new place. The typical time it takes to close on a place is around 60 days this gives people not a lot of time to find a new place. Granted, some can close faster than others and some people find what they are looking for faster than others but if you want to take advantage of this feature you have to start now. Call 617-449-3642 for help starting the search for your new home.