The Brainerd Lakes Real Estate Blog

The deadline to qualify for the $800 First Time Home Buyer Tax Credit is fast approaching. There are about 4 weeks left to beat the clock by finding and closing on a property before the Nov. 30 deadline. The key is that the property needs to be closed by November 30 th . The $8,000 tax credit has proven to be extremely popular. Indeed, a total of 10.8 percent of buyer’s today say that this and relevant state incentives is the most important reason motivating them to buy, according to REALTOR.com®’s July Homeownership Survey . Already, about 1.14 million buyers have filed for the $8,000 first-time tax credit. A host of additional buyers will likely file paperwork to qualify for the credit come tax time in 2010 as well. A key driver for first-time home buyers today is the high affordability of properties throughout the country. In July, the National Association of REALTOR®’s (NAR’s) affordability index was 36 percent higher than in July 2008. The typical median-income family ca...