First time home buyers have until November 30th to settle on a home and receive an $8,000 tax credit. Through the PFHA (Pennsylvania Federal Housing Authority), a buyer can use $5,000 of the credit at the settlement table and receive the remaining $3,000 through their tax return. If settlement occurs prior to October 15th, the buyer can amend their 2008 tax return and get the credit much faster.
The Downingtown and Exton real estate markets still have short sale opportunities for buyers and lots of sellers anxious for an offer - any offer. So, combined with a 5.125% mortgage interest rate and the tax credit, this is a great time to buy a home.
If you or anyone you know is planning to purchase and take advantage of the credit, I would appreciate the opportunity to work with you. My area of focus is Chester County, Western Montgomery County and Western Delaware County.