$6500 Tax Credit

Tick, Tick, Tick…the clock is ticking on your ability to get FREE money from the US government.  I understand that the wintertime is cold, travel is hard, and frankly the homes don’t look as appealing.  So, is waiting an option?  Ask yourself a couple questions.  Are you looking to purchase a home this summer?  Are you looking to save money on your taxes this year?  Do you really think the government is going to do this again?

If you are looking to purchase a home this summer, get on it now.  To receive the tax credit you need to have a signed contract by April 30th, 2010 and you must close by June 30th, 2010.  Ok, it’s almost March and you have about 2 months to find a home.  So, how long does it take a buyer to find a home?  The length of time it takes to find a house to purchase depends upon 4 basic factors: how quickly you can secure financing; how competitive your current housing market is; how demanding you are as a buyer;  how good is your agent?

If you are a first time buyer you may have never had an asset like a Dallas home.  Between the potential for equity (increased value for your home) and the tax savings, this may allow you to save a ton of money now and make more later, which you won’t get in the rental rat race.  If you are “almost” ready to get that first home, ask yourself (again) if you really think someone is going to offer you a big tax credit like this (again).  To get the full benefit of this tax credit you must

• purchase a home less than 800K,
• make between 75K – 125K for single and 150K – 225K for married ,
• and if you are already a home owner, have lived in the home 5 out of the past 8 years. 

Finally, how do find a qualified agent?  Ask your agent these questions –  How much time are willing to spend with your buyer?  Do you have a network of lenders, title company connections, inspectors, builders, etc…  Do you give advice, guidance, and speak frankly so that I buy the right house, not just the next house?  A good realtor does not work a 9-5 job.  They network, blog, read, and are organized when performing their job allowing the buyer a sense of relief during a stressful financial decision. 

The clock is ticking and it’s time to start the process.  If you need a list of qualified lenders that have experience with conventional and FHA loans please contact us.  Need to find a website that has the most recent MLS listings and agents that can walk you from offer to closing?  Please visit our Dallas homes for sale site and email or call us now (469-644-3402).

Matt S. Anderson
VIP Realty DFW| Real Estate Consultants
The Premier Firm in Real Estate
www.viprealtydfw.com
469.644.3402 | F 469.675.6373