Countdown to expiration of the first-time homebuyer credit
The Portland Business Journal kindly reminded me this morning that the $8,000 first-time homebuyer credit is set to expire November 30th. November 30th is exactly 80 days away from today. If you figure that most closings are taking about 45 days then that leaves homebuyers 35 days to find a home and reach an agreement with a seller.
There have been rumors regarding an extension of the first-time homebuyer credit but nothing yet has passed congress. Last I heard there was a proposed bill but it had stalled out in a committee.