Home Buyer Tax Credit Deadline Approaches – WDEF NEWS 12 -Chattanooga

Submitted by Nordia Epps on April 9, 2010 – 8:13pm.


It’s getting down to the wire for buyers and sellers trying to get the Homebuyer Tax Credit.


Up for grabs…as much as $8,000 dollars for first time owners or $6500 hundred for those moving up.


There’s a big push underway to qualify.


After six years, the Ha’s have outgrown their East Ridge home.


It’s been on the market for a year and a half.


But things are looking up…thanks to the homebuyer tax credit.


Christy Ha, Homeowner, “You can really tell the showings on our house and everybody looking really picked up with in the last few weeks. We had showings everyday and I think people are just trying to get that tax credit.”


Their realtor Charlotte Mabry tells me the local housing market is red hot right now as folks try to meet the approaching deadline.


Charlotte Mabry, Keller Williams Realty, “It’s a great opportunity. I don’t think we’ll ever see something like this again.”


At stake up to 8 thousand dollars for first-time home buyers, and there’s a credit for owners who’re moving up too.


Mabry, “If you’ve been in your home for 5 years of the past 8, there’s a $6,500 dollar tax credit for moving up. The key is you have to be under contract by April 30th and close by June 30th or you don’t qualify.”


Across the nation and here in town realtors are making a big push this weekend with open houses…showing off thousands of homes like this three bedroom two bath on Autumn Leaf in Ooltewah.


Janice Robertson, Crye-Leike Realty, “What I’m finding is more and more houses that I’m trying to show are having contracts put on them quicker.”


Karen Miller, Crye Leike Realty, “With the inventory that we have right now, nearly record low interest rates and with this tax credit it’s never been a better time.”


That’s definitely true for the Has.


They accepted an offer for their house Saturday, made one on a new house Friday morning, and by that evening got the good news.


Christy Ha, “They accepted our offer, so not only will the people getting our house get their credit but we will too.”


Once again you must be under contract by April 30th and close by June 30th to qualify.


There is an extension until next year for Military members oversees.