Ok, here we go again. We are roughly 45 days away from the Federal Tax credit expiring for would-be home buyers. It seems like we just went through this the other day and in fact, it was just last October when we were writing articles just like this. It’s mid-March and at the end of April, the tax credit for home buyers and first-time home buyers will expire. The question is did you take advantage of it?

I hope you did and if you didn’t, there is still time, but a word of warning to all the procrastinators out there. I do not feel confident this time around that it will be extended. Am I sure about this? No, and I reserve the right to be wrong, but there are just too many things in play right now to lead me to believe that it won’t be extended. I don’t have enough room in this column to express all of my thoughts on the subject, but I will share a few things that lead me to this conclusion. First, it’s an election year and all bets are off on how a Senator or Congressman will vote once they are up for re-election. Second, the economy shows signs of improvement, but that could be a double edge sword. If it continues to improve, Washington will make an argument that there is no need to continue the program. If the economy falters, Washington could make the argument that the money needs to be better spent elsewhere to stimulate jobs. Third, since the deficit seems to be a hot topic among lawmakers, I have a hard time believing that there will be a lot of support to spend more money on this program, but then again, I could be wrong.

So where does that leave the home buyer…about 45 days from missing out on $8,000 or $6,500 in cash. There is still time to find a house, get under contract, and close. Remember, you don’t have to close until the end of June; you just need to be under contract by the end of April to get the money. Getting the loan in place, finding an agent, a house, and getting it under contract can be done in the next 45 days; but you have to start now. To find out how, check out http://www.taxcreditforeveryone.com or http://www.firsttimehomebuyerdenverco.com.

Dan Polimino is a Realtor with Fuller Sotheby’s International Realty. He can be reached at DPolimino@fullerproperties.com and http://www.coloradodreamhouse.com/denverpost

There is now a tax credit for everyone and an extension for first time home buyers!

Today is GOOD NEWS for those of you thinking about buying a home or a first home.  The House and Senate have finalized a version of the tax credit extension for first time buyers and created a credit for all buyers. The current proposal will extend the current $8000 first time home buyer tax credit that expires on November 30, 2009 to April 30, 2010.   In addition, there will be a clause that allows you to close beyond that point (to June 30, 2010) provided you are under contract by April 30^th.  The House and Senate are also expanding the tax credit not to just first time home buyers. Existing homeowners looking to “move up” from their current property can receive up to a $6500 tax credit incentive.  There are certain guidelines that must be followed.  Feel free to contact us directly for this information.             

So you folks that have procrastinated  about  getting your finances in order, improving your credit scores, getting pre-qualified, saving for a down payment, talking to a lender or real estate agent, or just had a tough time finding a property this is your golden opportunity. For those of you who want to move up and buy a new home this is great news and a great deal. Housing prices are low, interest rates are low and now you get money from the government for buying a home.  Don’t let this one slip away.

Visit http://www.firsttimehomebuyerdenverco.com for more information and your chance to win $250,000 dollars toward your next home. Feel free to contact Dan, Andy or Gary to get started today moving into a new home.

Sincerely,

Dan Polimino, Gary Lohrman and Andy Jorgensen.