First Time Home-Buyer Tax Credit

by Victoria Thomas

Ok, so we did not get the Olympics, but we still have the first time home-buyer tax credit, but, time is running out!

All of you first time home buyers (or those of you who have not purchased a home in past three years) who have been waiting on the sidelines jump into the game since you still have time to select that perfect new home.

We have the perfect storm in real estate; plenty of inventory, low interest rates and the government is giving you money so what are you all waiting for? You must close by November 30, 2009 to receive the tax credit up to $8000.

I was out at the “bird sanctuary” development, Fay’s Point in Blue Island Saturday and I had three first time home buyers come in to view the models. That’s more like it! It is a fantastic townhome development and so perfect for the first time buyer with a marina and all.

There are deals to be made out there at all levels in real estate. Sellers are looking to sell and buyers are getting what they are looking for at some unbelievably great prices.

New developments are slashing prices and the developers are throwing in incentives because they need to sell them. There are great developments all over the city right now, so there is something for everyone.

I expect to see more first time buyers jumping in to get a piece of the action in the next couple of weeks, which would be great for the real estate industry, for them and for our overall economy!