Take advantage now for the first time home buyer credit of $8,000! Time is running out with this program expiring November 30th. You would probably need to be in escrow by September 30th to meet this deadline. Beyond that, you risk not getting your purchase closed in time.

The National Association of Realtors is trying to get this tax credit extended. It has spurred the home sales of summer all across the country. Once this tax credit is gone, and if interest rates go up, we will see an increasingly slow market returning with foreclosures still coming in, this could reduce sales and increase competition for sellers.

NAR is trying to get a $15,000 tax credit for ANYONE who purchases a home but will this happen? Stay tuned. This could help the move up buyers and help price ranges over $250,000.