Tax Credit Count-Down

As anyone actively looking for a home is no doubt acutely aware, the deadline for qualifying for various Buyer tax credits is this Friday (Buyers actually have another two months, until June 30, to close).

So, is it time to pull the trigger?

If you’ve already got something in your sights (sorry, can’t seem to drop the gun/ammo/bullet metaphor), by all means, go for it.

However, as your price range goes north of $300k or so (and your income trips $100k), the odds of qualifying for the credit — or having it be material to the price of the home — go down considerably.

So no, I wouldn’t make a rash decision just to lock in the tax credit.
About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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