In Just 50 Days Your Home Will be Worth $8000 Less!

The countdown is on!  In just 50 days, believe it or not -- for those of you keeping track, that's 7 weeks and 1 day, your home will be worth $8000 less.

No, it's not the apocalypse.  Your roof is not going to collapse nor will all your kitchen appliances start to malfunction on May 1, 2010.  Stains and holes will not mysteriously appear on your hardwood floor or carpets.  Your windows will not shatter and the paint will not start peeling off of your walls.

There's no magic switch that gets flipped causing all home listings on the MLS to suddenly reduce their price by $8,000.  Nor will anyone else tell you this or warn you of this impending and certain eventuality.

Rather, on May 1st, homebuyers across America, and certainly here in Northern Virginia and D.C. will remove their government-issued rose tinted 3-D glasses and in their own minds subtract $8000 from the value of your home.

Of course, I'm talking about the deadline for the Homebuyer Tax Credit.  In order to take advantage of the $8000 Homebuyer Tax Credit or the $6500 Move-up Homebuyer Tax Credit, homebuyers must enter into a ratified contract to purchase a home by no later than April 30th.  Then they must settle on the home and go to closing by June 30, 2010.

Time is running out.  The market already takes into account the presence of the tax credit, meaning that the prices charged for homes today will be worth $8000 less on May 1st from the perspective of potential buyers since they will no longer be able to benefit from the credit offered by the government.

Thinking about selling your home?  It's time to get it on the market now. Already on the market? It may be time to reduce your price and get it sold now. 

It's called the Homebuyer Tax Credit, but it benefits you the seller as well.

Watch the video below for some more details on the tax credit and give me a call at  703-626-0715 to discuss selling your home now: