Tax Credit Came to an End, but NOT for SOME Military Personnel

The federal tax credit is coming to an end. I'm discovering more and more buyers are coming out of the woodwork, as I anticipated. Within the last few weeks more homes have entered the market for sale in Austin, Texas than have over the last two months. I assume many of these homeowners have been waiting to get in front of the largest buyer pool at the peak of the purchase period - which happens to be the last two weeks before the federal tax credit deadline.

As the tax credit drew to a close for majority, qualified service members who have been on active duty outside the U.S. will have until April 30, 2011 to to purchase a home to take advantage of the federal tax credit.

A qualified service member is a member of the uniformed services of the U. S. military, a member of the Foreign Service of the U.S., or an employee of the intelligence community. To qualify for the extension, the qualified service member must have been on active duty OUTSIDE of the United Sates for at least 90 days during the period beginning after December 31, 2008 and ending before May 1, 2010. The tax credit extension applies to sales with a binding sales contract in pace on or before April 30, 2011 and must close by June 30, 2011.

If you meet the criteria for the federal tax credit extension and live in the Austin contact me to get started with your home purchase.