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July 8th, 2009 4:14 PM by David W. Welch
I just added a countdown clock on my web page dedicated to the first time home buyer tax credit. There are 145 days left to use the first time buyer tax credit, and people are already talking about extending it and expanding it. So far as I know it is just talk. I have not heard anything concrete with respect to any proposed bills to create a new credit. If no new credit is created, your time to take advantage of this incentive is running out. Keep in mind that contracts here in Orlando are taking about 45 days to close, you probably only have about 100 days to get a property under contract. I would not push it to November 30th either, in case there are any issues with your closing. You should also be aware that buyers are writing five offers on average before getting a property under contract. If you have not already started looking, start now so you don't miss the tax credit.
Orlando Real Estate, David Welch Real Estate Optimist