One Thousand Seven Hundred and Fifty two Days on the Market

Thanks for commenting. To be fair, the house was over priced when purchased in 2004. Heck it was on the market back then for over 250 days and many more as a For Sale By Owner. I don't think I can remember a time whenever I drove by the house without seeing a "for sale" yard sign. And, most who purchased back in 2004 know they are not going to break even. Prices have fallen almost a third from the height of the market in this area. But, the pain that builder felt was really in his wallet having purchased the land at a high price and putting in all the infrastructure. Neither home was my listing.

I wrote the post after someone boasted in a blog that the tax credit was a huge success and then claimed I made a personal attack against her because I stated it was not a success and those few buyers that purchased just got icing on the cake. It is my opinion that price drives this market and I hope the few listings I do have will adjust their thinking regardless of the Rosy outlook others are painting.

Andrea, sometimes I wish I were a fly on the wall. I would certainly learn a lot about getting customer loyalty. Not my listing but I have got to admire the the agent's tenacity and the clients gullibility. You have a Happy New Year.

Hi Vickie. I agree and I was told that only 2.5% of all homes sold during the rebate are eligible for the tax credit during a presentation at the Triple Play for PA, NJ, NY Atlantic City Convention. But, some agents out in AZ seem to think it has helped their sales. Thanks for commenting. Hoping you have a great New Year.

Kirk, you are preaching to the choir. I just can't understand what the NAR is thinking. They must have just wanted to look like they were DOING SOMETHING. I wish they would stop doing.

Hey Russel, thanks for stopping by and sharing your view. What I was trying to say in the blog was that the tax credit does not work for several reasons. First, a NJAR economist stated in a seminar that the tax credit was a benefit to only 2.5% of the homes sold. What good does helping such a small percentage do for the economy overall? Second, the reason given for the tax credit was to "stablize the price of houses. That is to help the owner from absorbing the loss but costs the taxpayers even more. Third, only approximately 20% of the trade organization (NAR) requested the government to continue the program by way of the emails sent to members requesting they forward a dumb dumb letter to their representatives.

You are correct about the house I used in the topic has little to do with the tax credit. It is and has been over priced for years. But, you have got to wonder what the agent is telling the owner. And, when you look at the tax records you would see that the owner purchased the property for the sole purpose of flipping it for a profit.