You've likely heard this time and time again but the popular homebuyer tax credit is now in its final stretch. If you still haven't gotten started on your buying efforts and are looking to purchase Miami Beach real estate, you now have until the end of this month to qualify and get those important sales contracts signed.
Chances are you may be among the several people anticipating that the homebuyer tax credit will once again be extended, but we're now in the final month and there has yet to be any news of such a potential extension. In fact, the latest results have been relatively disappointing and some of the people who spearheaded the extension don't feel it's worth extending this time around. If you're looking to purchase Miami Beach real estate , the time clearly is now.
Keep in mind that this new credit is no longer limited to first time homebuyers, although these people will receive the full $8,000 provided they have closed on the sale before July 1. If you're trading Miami Beach condos for instance you can also qualify for a $6,500 credit. If now is not the right time then buying a home for the sole purpose of getting the credit is not a good idea. While time is short, make sure you're doing it for the right reasons.