Can you imagine what this Thanksgiving holiday weekend would have been like if the up to $8,000.00 tax credit had not been extended?

As a mortgage banker we worked with a large number of people who were buying now strictly because of the tax credit.  They all would have needed to close by Monday 11/30/2009 if the exetnsion was not granted. 

This nice relaxing Thanksgiving weekend would have been very busy.  We made every effort to have our clients still close by 11/30 if they wanted to do so, but the pressure dropped off dramatically as soon as the president signed the bill extending and expanding the tax credit.

The two tiered approach with contracts having to be signed by the end of April and closing having to take place by the end of June, should take the pressure off in the spring.

I hope you enjoy the holiday weekend as much as we are going to.  Happy Thanksgiving.

 

9 Comments on COULD YOU IMAGINE?

NOV
26
2009
651,088 Points 70 Featured Posts Outside Blog Called Shot Master

I'm thankful they extended it.  Happy Thanksgiving to you too Philip!
6:28pm • #1
994,644 Points 4 Featured Posts

Yea nothing except stocks may have went up a little. The market has not noticed the extention because most buyers are waiting for more.
7:24pm • #2
1,358,127 Points 243 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Phil I know there are many at McCue that are very happy that they do not have to work tomorrow or the weekend.
7:38pm • #3
NOV
27
2009
241,245 Points

Thank you, Jared & Amanda.

Charles  - I hope people start noticing soon.  For present homeowners looking to sell their present house and buy another, April 30th will come upon us faster than we think.

George - You are not in New Britain today?  Maybe just my Underwriters and Closing Administartor are working.  Hmmm?
8:14am • #4
1,358,127 Points 243 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Phil, no I am not in New Britain, but I am working.  I asked Wednesday if anyone was going to be in today and I was told no.
10:15am • #5
241,245 Points

Stop working. Enjoy the holiday weekend :)
10:25am • #6
879,247 Points 10 Featured Posts Outside Blog

Philip - The extension should help your spring market have some "spring" to it.  I trust you will have a great spring
11:05am • #7
NOV
29
2009
258,885 Points 17 Featured Posts

We're all hoping that the extension can keep the strong market alive. I'm glad the government is aware of how important the housing sector is to the economy.
10:56am • #8
241,245 Points

The pre-November 6th tax credit did its job in southeastern CT.  We were very busy throughout the fall.  I hope the extended/expanded version will do the same.
10:59am • #9


What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 
Rainmaker_large

PHILIP TURNER-MORTGAGE BANKER SINCE 1980

New London, CT

More about me…

MCCUE MORTGAGE COMPANY

Address: EIGHT UNION STREET, CORNER OF UNION & METHODIST STS., NEW LONDON, CT, 06320

Office Phone: (860) 444-0650

Email Me

Mortgage information and lots of other thoughts from a long time SE Connecticut home financing professional.


Listings

Links

Archives

RSS 2.0 Feed for this blog