Again it is one of those maybe yes, maybe no, it all depends.....
Just my 2 cents worth....
The odds of buying a home now (Nov 30th deadline to close) and closing a loan in time to get the tax credit are most likely very slim to none now due to the financing backlogs and the rush to get all the loans closed in time. Delays are happening even with conventional loans here in Vegas.
I'm sure there will be many that will be able to get in under the deadline, but at this point in the game, if your only reason to buy a home is to get the tax credit, you need to ask yourself .....will you still proceed with the sale if it closes after the deadline and you can't get the tax credit?
If your answer is No,,,,then another question you need to ask yourself is....are you willing to loose your earnest money deposit if you don't follow thru with the purchase?
Is getting the tax credit really more important to you then buying that home you have always wanted?
Many sellers are now asking these questions and be prepared to see wording in the contracts about this as sellers and agents are most likely not going to want to put in offers for buyers who are "wishy washy" about this.
Other Blogs
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TIPS: Around the Home - Preparing House for Winter
NEVER PAY a Mortgage payment to someone who comes to your door in Las Vegas, Nv or any other town !!
IRS INFO
First-Time Homebuyer Credit Questions and Answers: Homes Purchased in 2009
Some good points here. I had a lot of conversations with people about buying a house they like vs. having 8000 dollars at tax time. Average sale prices of 200,000 results in total payback over/around 500,000. 8000.00 is a small percentage of that.
I agree that it's now too late to get the credit pending an extension. With backlogs and Thanksgiving, you may as well forget about it unless you are paying cash.