It's not too late.

With the home buyer tax credits of $6,500 and $8,000 scheduled to expire at the end of next month there is still enough time left to take advantage of these great opportunities on your new Denver Condo or Denver Loft residences.  And it's even easier to find great values on lofts in Downtown Denver.  We have seen some of the most incredible prices per square foot at some of the most popular loft buildings downtown.  Resales at the Glass House with it's swimming pool, fitness center, and 23 stories of glass walls located in the heart of Riverfront Park has some incredible values.  In fact resales in the Glass House start in the low to mid $200's and opportunities exist to close in time to take the additional tax incentive.

If you are more interested in the Lohi, Highlands, Sloans Lake or other areas growing rapidly there are many condos and homes at incredibly affordable prices.  Or if you are interested in being more downtown there are condos and lofts in Ball Park, Lodo, Capitol Hill, and the many other neighborhoods that would be available to close by the scheduled tax credit deadline.  And of course new buildings like SPIRE and ONE Lincoln are working aggressively on their pricing on developer inventory.

If you aren't familiar with the details of the tax incentive here are some important highlights..

  • $8000 tax credit for first-time homebuyers extended for buyers who sign a contract by April 30, 2010 (and who close by the end of June).
  • $6500 tax credit offered to homebuyers who have lived in their current residence at least five years and who want to “trade up” (buy a new primary residence).
  • Couples earning as much as $225,000 a year and individuals earning up to $125,000 would qualify (up from $75,000 for individuals and $150,000 for couples).
  • Tax credit not applicable for those buying homes worth more than $800,000.
  • Those who sell their new home or stop using it as their main residence within three years would have to repay the credit.

The important thing to note is that the qualification for the first time home buyer credit is only to be under contract by the end of April.  You don't need to close until June 30th (but we'd prefer not to cut it too close).  It gives us time to explore the many wonderful Denver condo and loft listings available and step through to closing prior to June 30th.

Many of our clients have taken advantage of these incentives and the wonderful interest rates currently available to create affordable mortgage payments instead of costly rent.   We thought it was a good time to remind folks that time is slowly moving towards the upcoming expiration of these benefits.   If you were (or are now) planning to take advantage of this incentive or simply want to learn more please contact New Era Realty.   This is just a friendly reminder and we hope to talk to you soon.