Pinetop White Mountain Blog

Good Afternoon Everyone,

This afternoon's post is devoted to the First Time Homebuyers out there who still want to get in on the $8500. Tax Credit on their 2009 return.  There are a few facts you should know so you will understand the urgency of getting moving now. 

You must purchase a home and the sale must close no later than December 1, 2009. 

You will want to shop around for the right lender for you.  Every lender has different loan programs and you want to be sure you find the one with the best program for you. 

Be sure to ask if you can use the tax credit as part of your down payment.  The Government has stated that it can be used but in my research, few lenders are actually doing it because there are a lot of loopholes that do not assure the lender of repayment.  Those I have spoken to say you will get it as a credit at tax time but they are not fronting the money toward downpayment. 

You need to start looking now.  Time flies once you start the home buying process.  It is already the 1st of July and December 1st is only five months away.  That may sound like plenty of time but the average sale takes a minimum of 45 days to close and should you decide to pursue a Bank Owned or Short Sale property, that time can easily double or triple. 

So don't wait.  Start your search today and let us help you find the right property at the right price and terms.  Time is moving quickly and you don't want to miss out on an opportunity to get that $8500 from the government.  Once it is gone, it is gone, and so far nothing has indicated that they intend to extend that deadline.  That may change, but for now, you have until December 1st to close your sale.

Call Us! We are familiar with the White Mountains Market and we can help you through the buying process.  There are a lot of very motivated sellers out there who are eager to sell their homes and are just hoping for an offer.  So make it a priority to start looking right away and maybe just maybe you can find the home of your dreams, at a price you can afford, and still get some additional money back on your 2009 return. 

SANDRA & BRUCE PAULOW,

Your High Country REALTORS®