8000 first time homebuyer tax credit: Survey Says: Only 1 in 20 Respondents Say They Will Buy Next Year - 11/16/09 02:54 PM
Before the home buyers tax credit was extended through April, 2010 and expanded to include more buyers, a survey by move.com indicated that only 1 in 20 people surveyed said they would buy a house next year. Why? The top reason was that they felt that home prices had hit bottom. This was more important than bargain priced foreclosures, concerns about interest rates, and the pool of available homes.
This revelation feeds into our ongoing discussion of glass half empty/glass half full approach to real estate. Of course, the number of people who might say they are planning to buy might … (19 comments)
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8000 first time homebuyer tax credit: There's More Reasons to Buy that the $8,000 Credit - 10/06/09 11:00 PM
If I were a betting man, I'd say that the homeowners tax credit will be extended. That doesn't mean it will happen, of course, but the tax credit is hardly the only reason to buy a home. Interest rates on conventional loans are available starting at less than 5%. That is certainly a long lasting incentive for qualified home buyers. Add that to that the income tax advantages and the general life-enhancing benefits of having a place of your own, home ownership remains a good choice for many.
While the concept of homeownership sometimes sells itself, real estate agents still … (5 comments)
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8000 first time homebuyer tax credit: Just Looking: Part 2 - 09/12/09 10:13 AM
We all know that some clients have no idea what they want. Many do, but they are just not showing their hand. So, when some people say they are just looking, they may be:
Actually looking with plans to buy. Some concrete information and little a nudge might get them going. The $8,000 credit might do it. Talking through their situation might do it. Finding them a more affordable home (or one with special features the want) might do it.
Looking for the future to get a better idea of what's out there. They may know that their credit is whacked, that they … (4 comments)
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8000 first time homebuyer tax credit: Labor Day: Time to Refocus for a Great 4th Quarter - 09/07/09 05:16 PM
Labor Day marks the end of summer. In many places, this summer was cooler than usual, which makes it harder to believe than usual that it is all over.
In the old days, when real estate was "normal," fall marked the beginning of a slower season. Many buyers gear their housing purchases to the school schedule. This year, with the first time homebuyer's credit, part of the target market is families buying their first home. Eagerness to get the credit may supercede the desire to wait for a school break! This means a couple busy fall months for agents.
For agents … (2 comments)
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8000 first time homebuyer tax credit: September Song: Time to Write Your Goals - 08/31/09 09:24 PM
"Obstacles are those frightful things you see when you take your eyes off your goal."Henry Ford
I ran a variation on this blog in January. Now it's September. Summer is gone, the kids are back in school, and a whole crop of buyers are realizing that the $8,000 first time buyers credit might be for them. Fall can be slow for agents in some markets, but not this fall.
Can you believe it? Two thirds of the year has passed. Time flies when you're having fun! Now is the month that's a peak in our lives where we can view the … (0 comments)
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8000 first time homebuyer tax credit: Carpe Diem as Housing Sales Increase - 08/21/09 04:59 PM
Not every piece of economic news is rosy these days but one thing is true: The housing market is starting to show real signs of life. Sales of existing homes increased 7.2% from June to July, which amounted to an annualized 5.24 million units. Economists had expected a 5.1 million unit increase during this period so the reality is beating the statistics! For the first time since 11/05 sales were higher than they were in the same month a year ago, when sales were 4.99 million units.
This means that despite job losses, continuing foreclosures, and still weak housing prices, the … (3 comments)
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8000 first time homebuyer tax credit: Plan Ahead to Chart Your Course - 08/17/09 12:15 PM
For the third year in a row, I have been selected to speak at the National Association of Realtors (NAR) 2009 REALTORS® Conference & Expo, on Friday, November 13 in San Diego from 2:30-4 p.m.
I am honored and truly excited to be asked to be a returning a speaker at this year's NAR conference. This is a great time to be in real estate with interest rates at an all-time low, young, first-time buyers entering the market with the government's buyer credit incentive, and all indications that the market is turning around. Let me help you make 2010 one of … (2 comments)
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8000 first time homebuyer tax credit: Meeting the Interactive Generation - 06/25/09 12:15 PM
Perhaps you saw the most recent edition of Realtor Magazine, that presented the 30 Under 30 winners. All of them, and the many who were nominated and not chosen to be among the top group, share the same vision of how real estate works today. Times may be tough but all are innovatively making a niche for themselves and using the latest technology. As one recipient, Rachel Valentino, said:
"As a young Realtor, I have found my niche working with 20- and 30- buyers who are web-savvy and who contact me on Facebook almost as much as by phone. I have … (2 comments)
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8000 first time homebuyer tax credit: One More Time - New Buyers Are Where the Real Estate Action Is - 06/24/09 06:15 PM
If you're thinking you just read something here about first time buyers, you are not losing your mind. With the $8,000 tax credit ticking away, this is a hot topic. We tend to think that anyone who can read knows about the credit, but for some people, the information was filed away in a mental circular file - until they needed it! Now they need it, and here we are - THE SOURCE on how to proceed.
Let's be real. Who are these new buyers? Unless they had a home more than three years ago & took a break from homeowning, … (0 comments)
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8000 first time homebuyer tax credit: I Told You the Sky Wasn't Falling - 04/27/09 12:35 PM
"The sky is falling, the sky is falling... " Chicken Little
Anyone who follows my blog knows I am an optimist. Even when others have lamented that the real estate industry was all about bad news, I have pointed out the many opportunities that continue to exist for hard working agents.
Now Department of Commerce figures indicate that new U.S. home sales appear to be bottoming out after a 74% decline since July, 2005. Home sales hit a record low in January, jumped a bit in February, and then fell flat in March. New home inventories dropped 5% from February levels. … (4 comments)
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8000 first time homebuyer tax credit: You're the Expert on New Housing Tax Credit - 04/22/09 03:37 PM
"Whether it is the best of times or the worst of times, it is only time we have." Art Buchwald
You had to love Art. He had some great quotes. And this one really puts things into perspective, especially for those of us in real estate.
Yes, I'll grant you that you can look at our economy and the real estate market and proclaim it the worst of times. Totally your prerogative. But please, don't call me. I avoid those who whine and complain and see the worst in everything.
The fact is - no matter what you think of today's … (2 comments)
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