Posted on September 2nd, 2009
Filed Under:
Buyers
If you are a first time home buyer and are still on the fence about making a purchase this year, the time for action is now. The first time home buyer tax credit of $8000 will expire on December 1, 2009.
In order to be eligible for the tax credit, the purchase of your home must be completed and escrow closed by November 30. Simply entering into a contract to purchase a home by December 1st will NOT enable you to take advantage of the credit. The time it takes from entering into a purchase contract to closing escrow can vary from 30 to 45 days, to 60 days or longer. Therefore, if you’re serious about taking advantage of this tax credit, the time to act is now!
Click here to read an article about the tax credit.
With mortgage rates holding steady and lots of great homes on the market in Pleasanton, Dublin, Livermore and beyond, it’s a terrific time to buy.
Contact us today to discuss your buying goals or to take a look at available homes.
Posted on June 2nd, 2009
Filed Under:
Buyers,
Sellers
The National Association of Realtors reports today that homes sales nation wide rose 6.7 percent in April, that’s up over 3% compared April of 2008. Click here to read the whole article.
Housing affordability and record low mortgage rates have contributed to a surge in sales. Additionally, the first time home buyer tax credit of $8000 was a tipping point for many buyers who may have still been on the fence. And since first-time buyers must finalize their home purchase by November 30 to get the tax credit, greater activity in the months ahead is very realistic.
A recent change in the use of the $8000 credit may also help to generate continued home sales. Last week, HUD announced that qualifying buyers can use the tax credit for closing costs on FHA loans, to buy down the interest rate or to make a larger down payment. This is a significant change that could really have an impact on the consumer’s buying power.
Pleasanton real estate sales also saw a surge during the month of May. 74 homes went into contract, up significantly from 25 sales in February and 44 sales in March of this year.
