In an unexpected move, Congress announced that the $8,000 first time buyer tax credit and the $6,500 move up buyer tax credit have extended until the end of 2010. This program has been extremely beneficial in helping to turn the housing market around. As fact would have it, with homes priced under $150,000 there is actually a very short supply in the Gwinnett County, GA area and this price point is turning into a sellers market again.
Recently there has even been evidence that builders were starting construction on new homes again, another sign of the return to better times in the Greater Atlanta Real Estate market.
I want to take this opportunity to wish everyone that reads this article a Happy April Fools Day. The first sentence of the first paragraph is not factual. However everything else in the article is true. To qualify to participate in the home-buyer tax credit program, buyers must be under contract by April 30, 2010 and close on the property by June 30, 2010. If you are considering purchasing real estate don’t get left out of this program…Don’t Be An April Fool!
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Mack you had me hook line and sinker. I have written about the possible perils of ending the tax credit heading into the summer selling season. Many Atlanta real estate and moving professionals depend on a strong summer season to carry the year. I hop this tax credit ending April (contract signed by end of April and transaction completed by June) does not tank this all important season………..