5 Months After The Tax Credit Expiring – What Effect Did It Have On The Market?

Doesnt have buyers on the sideline hopeing for a 2nd credit? 

 

and will not take the next step until there is one?

 

For all those ppl on the fence tell them how much extra money they will spend if these crazy low rates start ticking up.  

Out of the 24 closings I had up to June 5th, only four utilized the tax credit so I have to wonder if it was really as responsible for as many sales as it is given credit for doing. What kind of ratios did the rest of you experience. Have been reading about the possiblity that many of the people who utilized them may now be denied them by the IRS. Is this a great country or what? That action will probably sour anyone from trying a new one if offered. Interest rates are so low that it would be foolhardy to wait for another tax credit offer before purchasing a house. When they rise, people will wish they had acted now.

Thanks for the information.  The Tax Credit certainly had more effect on the longer term than I thought it would.