I've received this comment a couple times from buyers that I've been showing homes too. Unfortunately, in our market, with the $8,000 tax credit on the verge of going the way of the dinosaur (barring an extension in the next couple weeks), there's a flood of buyers that are trying to purchase and settle before the credit expires. The clients that I'm working with find that they are constantly going up against multiple offers... especially in the lower priced market which is where most of the first time home buyers are looking.
I wonder though if its not so bad for these clients if the tax credit does expire. The credit has artificially increased demand which has many of these properties selling for above list price. Once the credit expires, I would think that the demand will go down bringing prices down along with it... effectively offsetting the loss of the tax credit. Who knows... the buyers that miss the $8,000 tax credit might actually come out ahead! =)
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