While the deadline for the $8,000 First Time Homebuyers Tax Credit is November 30, 2009 we need to look at that date for a minute. Thanksgiving Holiday is the weekend before the 30th, so the actual deadline we are shooting for is to be closed and funded by the 24th of November.
In order to meet that deadline we need to get a home under contract no later than October 1st, 2009. FHA loans are currently taking about 45 days to fund so we need to be well within that window.
Also the new HVCC regulations are adding time to the appraisal process. Having a few days extra cushion is recommend for the inspections in case they don’t go just perfect (which thing we know never happens!)
All in all if you have been thinking about buying a home in the Page Lake Powell area, now is the time to find one, and get under contract, to catch the $8,000 tax credit.