Will you be one of the 2.5 million?

August 26, 2008

Quote from NAR cheif economist Lawrence Young from an article by Walter Maloney at realtor.org…

"About 2.5 million first time home buyers are expected to take advantage of the $7,500 tax credit between now and the middle of next year."

Are you going to be one of them?! 

And just to clarify – the credit is not a flat $7,500.  10% of the home purchase price, up to $7,500.

If I were a first time home buyer, I’d think of this as a gift. Yes, you eventually have to pay it back but a hefty tax credit your first year of buying a home can come in very handy!

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