Tax Credit Deadline Looming For Homebuyers – WTVF-TV NewsChannel 5 Nashville

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By Eric White


Posted: Apr 22, 2010 8:44 PM CDT


NASHVILLE, Tenn. – Months ago Emmaly Carr took notice as a homebuyer tax credit deadline crept closer.


“You realize this is about to end. You should really jump on it,” said Carr.


The Nashville woman has never owned a home. The government’s first-time homebuyer $8,000 tax credit was Carr’s motivation. Homebuyers have to have a contract signed by April 30 and close on the property by June 30 to be eligible for the tax credit.


To this point Carr has not been successful.


“I’m very, very particular,” said Carr.


The two homes Carr was interested in already had contracts drawn up.


Crye-Leike Broker Becky Meagher is Carr’s agent. Meagher said she and Carr are frantically searching to find the perfect home.


“I think this is the last chance for that gift of $8,000,” said Meagher.


Meagher said the government tax credits have given the real-estate industry a big boost.


“In my office we’ve been extremely busy because of the first time homebuyer credit,” said Meagher.


She added it is not likely the government will extend the tax incentive.


With time running out, Carr said her search for the perfect house will continue.