Chicago First Time Home Buyer: Tax Credit Time Running Out

Chicago First Time Home Buyer: Tax Credit Time Running Out

A Chicago first time home buyer client of mine called today to let me know they were going to take a break from looking at homes. In their own words they had plenty of time to find a home and just did not think that there were enough good deals out there. Besides they said, “I am sure the government will extend the first time home buyer tax credit anyways.” After picking myself up off the floor I advised my client that they should not rely on the government extending the first time home buyer tax credit.

After asking some additional questions it appears my client has been looking at homes in the $300,000 range  and offering $250,000 or less. They were just amazed that no one was accepting their offers. I gave their Realtor a call and he said he had advised them that their offers were too low but the buyers insisted on the realtor submitting their offers.

Lets face it right now is a great time to buy as i have said before. There are some great deals to be found on homes which combined with low rates and the first time home buyers tax credit make this a great opportunity for the Chicago first time home buyer. While there are good deals people are not going to give their homes away. If you find a home that you like and can afford then consult with your Realtor about making a realistic offer. Time is running out on the first time home buyer tax credit, Chicago first time home buyers should not let this opportunity pass them by.

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