I don't know about your area, but here in Hamden, CT, the market has really picked up. There are lots of buyers looking to get into a contract on a home before the April 30th deadlline, to qualify for the tax credit. We are even seeing mulitple offers on homes. It's been a while since we saw that. I expect the next two weeks to be a marathon, but at sprinting speed.

The first time homebuyers tax credit helped our real estate market at the end of last year. The first quarter of this year was slow, but April has really taken off. Typical - we all wait until a deadline is looming to react. My office is near a post office, and it was amusing to see the traffic jam on Aprill 15th.

Buyers are still conservative and cautious. Everyone has been bruised by the recession. When we do get a high offer on a property, we are nervous about the appraisal. I suspect that prices would be rising, but for conservative appraisals. I am cautiously optimistic about this real estate market - and hope the momentum continues after May 1st. Agents and buyers: put on those running shoes, and good luck to all!

 

 

3 Comments on The Sprint towards April 30th

APR
19
2010
288,418 Points 1 Featured Post Localism Sponsor Attended Rain Camp

Millie ~ The time is approaching fast. I have a few first time buyers, but they all like the short sales and I am afraid they will miss the deadline...
7:34am • #1
1 Featured Post

Hi Monique, Your buyers would do better with probate houses. I still think they are the best deal out there. Banks can take so darned long to respond to offer, unless they are a local bank. Plus, there are multiple offers on these bank owned properties, further frustrating things. Good luck. Hope they all find something in the next two weeks.
9:28am • #2
APR
21
2010
655,674 Points 10 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

We are also seeing a flurry of activity and lots of multiple offers.  I've had a few buyers shocked to discover they are in a situation where they have some competition for a property.
11:41am • #3


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Millie Legenhausen, CRS, GRI, CIPS, MBA

Hamden, CT

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Home & Hearth Realty, Hamden, Connecticut

Address: 1220 Whitney Avenue, Suite C-1, Hamden, CT , 06517

Office Phone: (203) 287-1886

Cell Phone: (203) 214-4447

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Local market commentary, general economy commentary, sharing of lessons learned from years of experience in changing real estate markets.


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