If you’ve been considering a home purchase in Park City and this is your first home then you’ll want to sign the contract by the end of the week. That’s when the tax credits for first time home buyers expire - April 30, 2010.
The tax credits were instituted by Uncle Sam as a way to stir the economy. It has worked in the past and they’re banking that it will work again. In many senses, tax credits for first time home buyers wasn’t a bad idea. It has spurred the economy somewhat. But the real issue is whether you have a home that you enjoy and that you are proud to live in. And if that tax credit helps you achieve that then it’s served your purpose. But remember the deadline.
If you were counting on that tax credit to purchase a home and you have not even started looking at houses yet then you are too late. You won’t be able to find a house and close on it in two days. Your contract needs to be in preparation phase right now or you won’t get it signed in time.
First time home buyers, it’s time to sign. Are you ready?