First-time homebuyers' tax credit boosts local home sales

(Daily Herald) Time is running out for first-time homebuyers who want to take advantage of the $8,000 federal tax credit that's scheduled to expire Nov. 30.

For Craig and Melissa Lindsey of Provo, who are tired of paying rent and are enticed by the first-time homebuyer tax credit, they wished they had started the search for their home much earlier this year.

"We've been renting since 2002, and just started our search in August after we finished school," Craig Lindsey, 35, said. "We grew up in Hawaii, but home prices are definitely cheaper here in Utah. So we've both found jobs here and want to take advantage of the low interest rates, home prices and the tax credit to get our home."

The federal tax credit is a huge motivator for the Lindseys, who have seen about 20 homes in Springville and Spanish Fork so far and are out viewing homes at least three times a week. They've submitted two offers on two houses so far, but one fell through because both parties couldn't agree on the price.

Original Article