“Take Advantage of the Current Tax Credit – ends April 30th. Take Action Now!”

Time is running out if you intend to take advantage of the current home buyer tax credit program.  You must be under contract to purchase a home by April 30, 2010 in order to qualify for one of two different home buyer tax credits.

As long as you are under contract by April 30th you will have until June 30th to close the transaction so there is still type to view the very best homes for sale throughout Central Florida and negotiate a successful offer with the seller.

If you need assistance with financing Watson Mortgage is available 7 days a week to speak with you about your mortgage needs.

Don't miss out on this golden opportunity to buy a home and receive up to $8,000 from the IRS!


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Will the homebuyer tax credit be extended?

The homebuyer tax credit is schedule to end on April 30, 2010. Will the tax credit be extended?

There is no way of knowing for sure at this point. I have not read anything that indicates there will be an extension. The tax credits available these past couple of years have worked to stimulate sales throughout the country by providing buyers with an extra incentive to purchase a home instead of waiting. Many of us would like to see the tax credit extended but there are no guarantees this will happen.

My advice would be that if you are planning on purchasing a home and your purchase is motivated by you qualifying and receiving a tax credit, you may want to act now. With the April deadline fast approaching for a buyer to be under contract or closed on the home they purchase in order to qualify, timing is crucial. Short sale contingencies, REO processing, appraisal or home inspection issues can delay closings.

Give me a call to discuss your personal home buying situation and to receive complete details on the available tax credits available for homebuyers.


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Will there be a rush to submit offers and close on homes before the tax credit deadline?

Will there be a rush to submit offers and close on homes before the tax credit deadline?

The deadline is to close by November 30 in order to take advantage of the Government's first time home buyer tax credit of up to $8,000. It is possible that as the news media, mortgage lenders, and real estate agents continue to spread the word of the pending end to the credit, potential home buyers will rush to take advantage of the opportunity.

Of course time to get qualified, find a house, make an offer and get the offer accepted is getting short. With the Florida listing inventory consisting largely of short sale and REO homes for sale, the time to close on a home is delayed even further by the often time consuming process required to buy one of these listings.

My suggestion is to not delay. If you are serious about buying a home and want to receive the tax credit you should start now in order to beat the rush!

Photo credit: James Cridland

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Should the home buyer tax credit be extended?

Video offers an explanation of the first-time homebuyer tax credit

Should the home buyer tax credit be extended?

There is strong support from real estate agents for the Government to extend the tax credit for buying a home. The current tax credit for the first time home buyer is scheduled to end on December 1st.

One benefit of extending the tax credit

One possible benefit I can see for extending the tax credit involves the short sale contingency listing inventory. With the current tax credit set to expire, buyers may not be as willing to make offers on homes listed with a short sale contingency due to the length of time it often takes for a short sale transaction to close. Some buyers could find themselves missing out on the up to $8,000 tax credit simply because the home they fell in love with was subject to a short sale. Extending the tax credit will allow buyers to choose homes from all available without fear of missing the deadline.

Win Win Win

Extending the tax credit will result in additional first time home buyers taking advantage of this unique opportunity to own a home. Listing inventory will be reduced, including short sale listings to the benefit of distressed sellers and overall market conditions throughout Florida and the rest of the country should continue to improve.

What do you think? Should the home buyer tax credit be extended?

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If I buy a house do I get $8,000?

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Q: I have heard if I buy a house I will get $8,000, is this true?

If you are a first time home buyer, someone who has not owned a home within the past 3 years and you buy a home this year and prior to December 1, 2009, you are eligible for a tax credit
equal to 10 percent of the home’s purchase price up to a maximum of $8,000.


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A new first time home buyer tax credit is available to Florida home buyers who purchase a home between January 1, 2009 and December 1, 2009. Unlike the previous $7500 dollar tax credit offered last year, this tax credit does not have to be repaid.

For additional information about the $8,000 tax credit available to Florida home buyers, contact me or visit this website.


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