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Thanks for taking the time to visit BobNelsonTeam.com. I hope you will find the information here helpful in your day-to-day life in the Northern Virginia area as well as in your home buying or selling process.
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Bob
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The November 30th deadline for the conclusion of the First Time Homebuyer Credit Program is quickly approaching. Be sure to keep in mind that it can take 45 to 60 days to close on a home. So working backwards from the November 30 deadline, you’ll want to have an accepted offer no later than mid-October. That leaves only two or thee weeks to get you preapproved by a mortgage lender and identify the right first home for you. You see we need to get started today to take advantage of this opportunity. Remember, you have 8,000 reasons to get moving. Watch this Month in Real Estate to learn more about the credit.
I like to make certain folks fully understand that an $8,000 credit does not mean taking $8K off the price, but rather it means being able to increase your home purchase by as much as $50,000 without it costing you any additional money in payments for the next five years!! (Based on a 50% tax bracket). Even if you pay absolutely no Federal or State income taxes, this means you can increase your home purchase by the same $50K without an increase in payments for nearly two and a half years.
If you know anyone considering a first home purchase or someone who hasn’t owned a home in over three years, please be sure to have them give me a call. They really should not miss out on this once in a lifetime opportunity!!
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