The Clock Is Ticking On The Home Buyer Tax Credit

The extension to the home buyer's tax credit expires April 30th 2010. The tax credit provides up to $8000 for first time home buyers and up to $6500 for mover up buyers (that meet the program criteria). You must have a binding contract in place before April 30th and it must close prior to July 1st 2010.

Aside from the obvious implications for buyers, this deadline is very important to anyone that is thinking about selling their home. Right now the pool of potential buyers is fairly large. That pool is likely to shrink after the tax credit expiration! Few buyers translates to even lower prices. It's all a supply and demand equation. So if you want to sell your home this year, NOW IS THE TIME! Get it on the market and priced aggressively to get it under contract before the expiration., or expect a lower return.