EXISTING HOME SALES DOWN NEARLY 17-PERCENT!

By
Real Estate Agent with Howard Hanna Real Estate Services

The National Association of Realtors reports that existing home sales plunged 16.7-percent in December, 2009. This adjustment comes as little surprise since, prior to the extension of the Tax Credit, it was expected that November would be the last month in which buyers could qualify for a federal tax credit in an amount up to $8-Thousand.

EXISTING HOME SALES DOWN NEARLY 17-PERCENT!

Under the new deadline buyers have until the end of April to take advantage of the Tax Credit, plus there is the addition of the $6,500 credit for move-up buyers.

For more on this breaking story follow this link: http://www.realtor.org/research/research/ehsdata

FIND A HOME: http://markostrovsky.com

Posted by

Mark & Elly Ostrovsky

Howard Hanna Smythe Cramer

Cellular: 216.577.1156

EMail: EllyandMark@GMail.Com

Website: http://MarkOstrovsky.Com

 

Mark is a licensed attorney in Ohio & in Massachusetts and works with his wife Elly in residential real estate representing buyers and sellers in Cleveland, Ohio's Eastern suburbs. You can search for homes on their website:

FIND A HOME: http://markostrovsky.com/

 

 

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Rainmaker
554,458
Barb Szabo, CRS
RE/MAX Above & Beyond - Cleveland, OH
E-pro Realtor, Cleveland Ohio Homes

Mark, I think the credit is working and the buyers have seriously come out to look and buy. For the first time in a very long time I was in a multiple offer situation. It will be interesting to see what happens after April 30th.

Jan 25, 2010 04:03 AM #1
Anonymous
Anonymous
I agree Barb. We put together two nice deals this past week. Though the credit per se did not play a role in these transactions there are many buyers out looking. We had 6 or Z groups through our open house yesterday. Best wishes to you!
Jan 25, 2010 04:17 AM #2
Rainmaker
1,356,051
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Hmmm....is this the foreteller of the "double dip" scenario????

Jan 25, 2010 04:20 AM #3
Rainer
41,331
Mark L. Ostrovsky
Howard Hanna Real Estate Services - Beachwood, OH
Howard Hanna Real Estate Services

I don't particularly relish the notion that the housing market is dependent upon government programs to attract buyers. We shall know soon enough, i.e., late Spring, whether the market can actually stand on its own. Sure hope so!

Jan 25, 2010 04:42 AM #4
Rainer
41,331
Mark L. Ostrovsky
Howard Hanna Real Estate Services - Beachwood, OH
Howard Hanna Real Estate Services

I don't particularly relish the notion that the housing market is dependent upon government programs to attract buyers. We shall know soon enough, i.e., late Spring, whether the market can actually stand on its own. Sure hope so!

Jan 25, 2010 04:42 AM #5
Rainer
41,331
Mark L. Ostrovsky
Howard Hanna Real Estate Services - Beachwood, OH
Howard Hanna Real Estate Services

I don't particularly relish the notion that the housing market is dependent upon government programs to attract buyers. We shall know soon enough, i.e., late Spring, whether the market can actually stand on its own. Sure hope so!

Jan 25, 2010 04:42 AM #6
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Rainer
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Mark L. Ostrovsky

Howard Hanna Real Estate Services
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