Expiration of $8,000 Tax Credit Fuels Home Inspection Rush

It’s getting aggressive out there. After the Labor Day reprieve, my phone is ringing hot. Everyone wants an inspection on Saturday, which book up fast. The biggest motivation driving most, if not all, of my clients (buyers) is the $8,000 federal tax credit for first-time home buyers that expires on November 30. This means that in order to qualify, the purchase must close escrow prior to that date. A 45-day escrow would then put us slap dab in the heart of October. If this holds true, activity will peak then. I take my vacation in December.