When this is written there are only 61 days left to secure the $8,000 tax credit, for first time home buyers. 61 DAYS! That is not a long time to find a home, secure a contract, do all inspections, secure financing and close. This eliminates all short sales except those that have been pre-approved, it eliminates a lot or Real estate Owned (REO) as it is very often difficult to get a timely respond from the banks or holding companies. Which mainly leaves those homes that are not in a distressed situation and there are not so many on the market that are in good condition and fairly priced. Even though our legislators are discussing extent ion of the program that is something we can not bank on. Unfortunately even though is seems that this program is working and has helped over 1,400,000 families so far there is no guarantee that it will be extended. Then if we look at the fact that is taking up to 45 days to process a loan, it seems that if the first time home buyer has not secured a home today they only have 15 days to do so. The clock is ticking.

 

 

Even the IRS thinks Firs-Time Homebuyers need to move, NOW.

 

This links to the IRS website form 5405 for First-Time Homebuyer Credit.

 

Newswire from IRS explaining the First-Time Homebuyer Credit.

 

 

Contact Erna and Petur Sigurdsson, Realtors at The Viking Team, Realty at 321-263-5096 for help buying or selling a home in Longwood, Lake Mary, Altamonte Springs, Sanford, Seminole and Orange County and the surrounding areas of Central Florida. To Search For Homes For Sale in Central Florida Click Here.