Buyers Rush to Beat Tax Credit Deadline in Morris County

At Coccia Real Estate we have seen first-time home buyers flooding the sale market, pressed to finalize a deal before the federal government’s $8,000 tax credit offer expires on Nov. 30.Because mortgage approvals, residential inspections, and other steps in the buying process typically take about two months, buyers hoping to take advantage of the incentive will need to have a contract by the end of September.

The new flurry of activity now as house-hunters try to meet the deadline is just another reason to list your house now to prepare for the September/Fall sales season. We expect to see more homes under contract as the deadline approaches. Coccia has seen a steady flow of buyers through the summer months when the market typically slows.