Tax credits and higher priced homes sales. Coincidence? I think NOT!

I see showings up a bit..but no real additional ink on [paper happening yet.

Thanks for sharing this Richard!

I hope you are right, I've got my fingers crossed!

Hi Richard, with the combination of very low rates, the tax credit, and low prices with great inventory . . . the market should really start moving in a positive direction.

I haven't any direct experiences as yet BUT I have spoken with many people about the credit and whether they may qualify should they decide to make a purchase in the next six months.  I think that in itself is a good sign that the program will work.

You know what?  The tax credit hasn't really impacted pricing.  There are two possible reasons for this:
1. Our market resisted correction UNTIL the stock market crashed. So we are in the midst of prices going down - and this has not stemmed that downward trend.

2. Our area is so high-priced, such a credit is probably not going to have that big of an impact.

I'm glad that it is working in your area, but I think the results are influenced by local conditions.

We picked up some here a couple of months ago; it was before the tax credit was extended.  It's good to hear that other areas of the country have picked up. Hopefully it will come this way. 

This is a time to be grateful. Take the challenges and embrace them for what they are worth and just keep moving forward. The consumer needs us more than ever now.

I agree stalled here as well.

Good for you on this market change. We've seen a consistent search and buy but not an increase. I fully expect the Spring Season to begin in mid-January.

Richard....everything seems to be pointing in the right direction for us to have a really good 2010. Thanks

I believe that it is working...together! With all the challenges that we face in this economy it is nice to see the meter climb up!

The upper bracket homes have definitely been on the market longer in my area.  I'm hoping that it will give that segment a swift kick!

It seems that the tax credit is working in our area too.  We are busier than a normal winter season.  Thanks for writing!  :) 

The tax credit seems to be working. I  hope buyers sitting on the fence will not miss out.

It's definitely helping my area (Joliet/Plainfield IL). Though I think awesome interest rates are helping almost as much.

Richard -Thanks for the happy news, whether anecdotal or not!  I too have seen a few more higher-priced listings going under contract....maybe it is because of the $6500 tax credit?  And maybe jumbo loans are becoming more accessible?  Not sure what the reasons are but I'm liking it.  :)

I'm happy for you but really cannot see that it's making a difference here.  As we approach spring, perhaps we'll see a positive change.  Our market is still falling and anything over $400 sitting.     

I agree the Expanded Tax Credit Program is working.  If we can keep the interest rates down this year the tax credit will get us off to a good start and we will have a better year then 2009.

Michigan is only leading the way in unemployment right now.  And most folks I know are a bit cautious of "free" money offered by the gov't.

I like how they expanded it to include current homeowners.  I've had several clients get moving as a result.