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Will buyers act now?

The housing tax credit has been extended and expanded, details are all over the internet, so will buyers act now?

What has caused buyers to wait? Is it confidence in the market? Is it concern about their jobs? Is it a feeling that the housing market has another drop in prices as more foreclosures hit as executives laid off during the recession seek short sales or the banks foreclose on them?

Or will the incentives offered by this bill cause those 90% of Americans employed to make a move and buy a larger home or better located home? Will the incentives enable them to sell their own houses more quickly? Will these incentives allow baby boomers to downsize as they age?

Is there enough time for these incentives to actually make an impact on the housing market? Will they cause the greatest spring market we have seen in recent years?

Lots of questions few answers right now. What do you think?

Posted by Nick & Trudy Vandekar on 11/09/2009 09:18 AM

Comments (5)

Buyers in the ActiveRain Channel

tax credit, questions, market conditions

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5 Comments on Will buyers act now?

NOV

Nick & Trudy,

Only if we knew. I think our job is to get the right information out to our buyers and sellers. We all know it is a great time to buy.

I have had two of my clients contact me this weekend that are move up buyers. Most of my first time home buyers were leary of their job security. I'm very excited to help my move up buyers. I'm going to send a blast email to all of my past clients that have been in their homes over five years.....

Our market has changed I now have only 25% short sale or REO in the MLS so most are equity sales.

I don't have the answer. But I can say that 10.2% unemployment number looms heavy.

Some great initial responses, thank you. Donna and Larry you are right, I was surprised how many people still did not know about the initial home first time buyers credit even after all the press and information that we all put out there. Contacting past clients as to the new opportunities is a great idea, we need to be pro-active. In the same way we need to restate the facts and not let the press frighten our clients in to being the deer in the headlights. 89.9% of Americans are still employed, way more than are out of work. Be aware but don't get stagnant being afraid of things that might never happen.

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