If you are seriously considering buying a home as a first time home buyer to take advantage of the $8,000 credit available to you through the stimulus package, NOW is the time to find yourself a good realtor, be armed with you preapproval letter from a reputable mortgage company and start looking for that new home.
You have to be settled on your new home BY November 30, 2009. The word on the street is actually try to settle by October 31, 2009. We are envisioning everyone trying to settle by November 30, 2009, and if there are any glitches and you can't make that date you lose that money. You also have to remember that November we have basically a two day holiday which further exaceberates the situation.
The time is now to start looking for your new home. There are tons of properties available so it may take you some time to find the right home for you. The mortgage process is also usually 45 days to complete the mortgage. So the time is now to get yourself into a nice first time home. Home prices are low, interest rates are low and you get $8,000 for buying yourself a new home. This could be a once in a lifetime opportunity, so take advantage of it!