Burlington Vermont Breaking News!! First Time Homebuyer Tax Credit Expires 11/30/09

September 23rd, 2009 Burlington, VT

The Obama Administration's Gift to first time homebuyers is set to expire on November 30th, 2009 or in 68 days. One of the qualifications to receive the credit is you must have closed on your property by the last day of November. This gift to help first time homebuyers is equal to $8,000, not an inconsequestial figure if you are trying to make the leap from renting into homeownership.

At present, it is not uncommon for a closing to take up to FIVE weeks from the time the price of the property you want has been negotiated between you and the seller and is considered "under contract." If you have been considering taking this important step, now is the time you need to be looking in earnest. With closings taking up to 5 weeks, you would need to have a house under contract darned close to October 19th, 20th, 21st. Somewhere in there.

Interest rates for a home loan are at historical lows right now. They have nowhere to go but UP and many people believe that, indeed, they will!!

Rest assured, I will work tirelessly to find you just the right property and put it "under contract" by the third week of October for an end of November closing.

It is worth noting there is talk to try to get the time period extended both in Congress, by the National Association of Realtors (NAR) and citizen groups. At present, it is only talk. Nothing concrete has been set to extend the offer.

If you are renting in Burlington VT, Williston VT, Colchester VT, Winooski VT, Shelburne VT, South Burlington VT, Hinesburg VT, Milton VT, Richmond VT,Jericho VT, Underhill VT, Essex VT or Charlotte VT and would like help finding the perfect property, please call me at 802.238.5256, email me at Chris@ChrisHurdVT.com or post your comments at Burlington
Vermont Real Estate Blog or go to my website at Vermont Real Estate.