First Time Homebuyer Tax Credit: Tick Tock

Home Buyer Credit Running Outphoto credit

Time’s Running Out

Time to get in on the first time buyer credit of up to $8000 is running out – and fast.

The credit is available to December 1st – with restrictions: You have to own the house by then.

Let’s count…once your offer has been accepted it’ll take at least 30 days – without complications – and in this market there are none of those – to get the keys. You’ve got six to seven weeks to find a house, write an offer, get it accepted. Whew!

The Market Reacts

San Mateo County’s market is showing that time’s running out. If you’re in the 500k +/- first time buyer price range – like a whole lot of other people – inventory is lowwwww.

Let’s look at the cities where we’d find entry level prices:

Homes Available
Pacifica 2
Daly City 28
South San Francisco 11
San Mateo 9
Redwood City 19

It’s Time

As the time ticks by, more buyers will jump in tightening inventory even more. If you’ve been on the fence about what to do, it’s time to make a decision.

Vicki Moore About Vicki Moore

Office:
RE/MAX Star Properties
282 Redwood Shores Parkway
Redwood Shores, CA 94065

By Phone:
650.888.9268

Comments

  1. The first time home buyers credit its a great thing for our countries real estate market. We need a spark as a real estate market and this has helped alittle. I am glad they extended it.

  2. admin says:

    There’s been a lot of debate about whether or not they should have extended it. Because real estate is local it may be that it should be extended in some areas but not others. I’m not sure how they would have done that – maybe with the MSA’s. One thing’s for sure they wouldn’t have gotten it done this fast.

    Thanks a bunch for your comment.

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