First Time Home Buyer Tax credit

Just in case you aren't paying attention to the news, time is running out for the first-time home buyer's tax stimulus credit. To qualify for the $8,000, buyers must close on a home by November 30. In some markets that may be next to impossible, but it's still quite doable by Lexington-market standards. Typical closing times are 30 days from contract to close although I anticipate we'll see a rush of activity in the next couple of weeks which could possibly create some delays. In addition, rates are down again -- approximately 4.75% on a 30-year yesterday! Truly a great time to stop paying rent and start paying yourself. I have some great start homes on my website you should check out!