I'm just curious to see if anyone is seeing buyers jump off the fence because of the $8,000 tax credit? I had a personal referral from a former Realtor who referred a buyer to me. Her lease is not expiring until the end of the year but was motivated slightly to attempt to close on something before the deadline. This has been the only experience I've seen, any thoughts from anyone else on Active Rain?
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Tricia Pearson - Pearson Real Estate - Texas Hill Country - Boerne, TX
Real Estate Broker, San Antonio/Hill Country Homes for Sale
In my business this year, I haven't seen this as a strong driving force to purchase. My first time buyers are mainly looking to get the best home for the best price. The $8K is a great perk, but not their primary reason to buy.
With the mortgage situation today, getting them approved is the biggest hurdle!
Sep 15, 2009 01:27 AM
REISA - 317-663-4173 - Indianapolis, IN
I think that most folks have been waiting. I am taking several calls a day with questions if we can close in time (we can).
Have to see what the next few months bring
Tony
Sep 15, 2009 01:30 AM
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR
I have not noticed a big difference since I am working mainly with investors.
Sep 15, 2009 01:31 AM
ERA, Wilkinson Real Estate Charlotte - Huntersville, NC
Lake to Land, I've Got It Covered!
NOt too much, maybe a couple people, but open that $8k up to everyone, maybe some more incentive!
Sep 15, 2009 01:34 AM
Shinsky & Assoc - Azle, TX
Broker, GRI, SFR, e-Pro
The mortgage industry is definitely another challenge to this goal! I have a number of Lenders telling me they can do it. I have no doubt they want to do it. Those with inhouse underwriting and processing may very well be able to. I'm finding the issues that delay the closing is the crack down of these underwriters. I know they have good reason to be worried but just share what more it is you want up front and we'll get it to you. I've had calls to action from NAR to push to extend this tax credit for first time homebuyers but I don't know if I completely support just first time homebuyers being able to buy.
Sep 15, 2009 01:34 AM
The Legends of Real Estate, REALTORS® - Jacksonville, FL
Jacksonville Real Estate
No increase at all... the first time buyers we've worked with were ready to buy regardless and the credit is just icing on the cake. Other first time buyers we are working with aren't motivated by the credit at all... they are more focused on finding the "right" home at the "right" price ("right" being a very subjective word for all).
Many are saying they think prices will continue to drop and if they wait till next year they will save far more than $8K. Without a crystal ball to consult I have no idea if they are right or not. They seem to think it is a gamble worth taking, though.
Sep 15, 2009 01:36 AM
Rainer
96,803
96,803
Nita Shinsky
Broker, GRI, SFR, e-Pro
Comments(6)