We all have been so excited about this great credit for the buyers  ..... to have more purchasing power for a home, and to help our economy grow, but have we totally forgot about the seller?

They are wounded and battered! What is exciting about this for them?

Here are a few things I have told my sellers about this credit:

1. It  can produce multiple offers - any home will sell in any market as long it is price right and with this tax credit to the buyers, they are wanting the best house and could be willing to pay for it.
   
2. Sales price closer to listing price - With more buyers out there trying to take advantage of the tax credit this year, they realize that they can not be ridiculous about an offer. Most buyers working with agents have lost homes due to "too low" offers. Agents are informing buyers .... if you want the home, make it your best offer." They are getting $8,000 back to boot!
3. Less homes to choose from - Let me rephrase this: In certain price ranges, there are less homes to choose from. Six months ago, I could have showed 50 homes in the same school district all about the same price. Now if a buyer is looking at a start home, he may only have 10 to choose from.
4. Short time on the market - again, on certain priced homes, the time on market is drastically reducing!
   
5. Allows you to buy up - There are plenty of great deals out there for the "move up" buyer and also the rates are still remaining low.

So is it turning into a "Sellers Market"  -  we have some ways to go, but things are changing. I have been taking buyers out showing homes and now we are seeing other buyers and agents as we enter and leave the properties. It wasn't like that 6 months ago. Calling to set up showings and than finding out there are 2-3 offers on the home. I have been told when setting appointments to show the home "You might run into 2 other agents and buyers, but feel free to get in." I had one the other day that said, well, it might go off the market because the seller worked out a payment plan with the lender. Which is great, but not for the buyer who has money in the governments pocket ready to spend!

Less homes + Buyers + $8,000 tax credit = $$$$

More than ever, we have to help the sellers understand the market changes and how to be ready for them and how to work with them for the fastest and best sale. Our work has only begun!

All rights reserved by Charlene Hammontree, Property Works, Inc. 2009