Homebuyer Tax Credit Extension Helping Market
Posted: December 11, 2009
For people looking to make a break into the Real Estate market as first-time homebuyers, the addition of the $8,000 tax credit was a golden opportunity. Once the deadline of Nov. 30 crept closer and closer, however, real estate professionals noticed a dip in the level of sales activity and interest - mainly because people knew that they weren't going to be able to close on a property quickly enough to make the deadline.
Now that the tax credit has been extended, many buyers (including those other than first-timers) are trying their hand again. Realtors and analysts have some slightly different opinions on whether this extension will "save" the market, so to speak, but pretty much all can agree that it will be a big help. With prices on homes still on the low end of the spectrum in Naples, Bonita Springs, Fort Myers, and Cape Coral, industry professionals are hoping that the credit will help bridge the gap between the winter and spring seasons.
Currently, the new guidelines of the credit require the prospective buyer's home to be under contract by April 30, 2010, and closed June 30, 2010.
As always, please feel free to call me at 239-357-9558 with any of your Real Estate needs or questions. Rgds, Jay
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