Every year, real estate falls off when kids go back to school. Families prefer to keep their children in the same school all year. With the onset of the holidays, people get busy. When it gets colder and then snowier in some parts of the country, people prefer not to move until it gets warmer. The majority of people who move in the fall and winter are those who are transferred or have some financial or other pressure to brave the elements or the upset involved with having the kids change schools mid year.
This year, things are different, as the tax credit is expected to liven things up and keep sales brisk and Realtors® busy. Since the credit will last till spring, when sales traditionally pick up, this means that agents may have a more constant flow of business than usual. To take advantage of a credit up to $8,000 for first time homeowners or $6,500 for repeaters, people will brave the elements and decide their kids will live if they change schools.
A month after the tax credit extension was announced, it has been written about continuously, to the extent you may be sick of hearing about it. It's true that the credit will not be a gift to current or future generations of taxpayers who will pick up an approximate $11 billion from the extension. For many agents, however, this is a wonderful gift after a couple lean years that will benefit many agents. Let's hope it helps many agents get stable as it help many Americans either realize their dream of homeownership or come closer to their dream homes.
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