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Homebuyer tax credit expires - now what?

By
Mortgage and Lending with First Centennial Mortgage NMLS # 132763

With April 30 coming up (last day for Tax Credit qualified contracts to be signed), do you wonder what the impact will be on home sales once this program expires?  I for one am concerned that unless we start seeing more JOBS and increased consumer confidence, we will face the DOG DAYS OF SUMMER.  Just as sales drop once rebates are pulled, you can bet that housing will drop as well. 

This probably limits the buyer pool to buyers that finally sold their existing homes after April 30, or those first time buyers that are now more confident about their employment. 

Hope I am wrong - Have a great day! 

 

Linda Kemp
Keller Williams Realty Infinity - Naperville, IL
Stager and Relocation Professional

Angelo, whether they extend the credit once again or not one simple fact remains:  there is still no better time than now to buy real estate!  Prices are still low and inventory is still great.  It is our job as professionals to make sure that buyers aren't mislead by the "doom and gloom" of the media.

It is time we stepped up to the plate and took a stand.  Be the professional in your community to make things change.  As Wayne Dyer said, "Change the way you look at things, and the things you look at change."

Mar 05, 2010 03:17 AM
Deborah Byron Leffler BzyBee Real Estate Lady!
Keller Williams Realty Boise - Nampa, ID

I hope you are wrong too...a lot of my buyers now are not affected by the tax credits...they are still buying...I think it will be our job to educate the buyers/sellers as to the benefits of doing a real estate transaction in today's market!!! 

Good Luck! 

Mar 05, 2010 03:20 AM
Deborah Byron Leffler BzyBee Real Estate Lady!
Keller Williams Realty Boise - Nampa, ID

I hope you are wrong too...a lot of my buyers now are not affected by the tax credits...they are still buying...I think it will be our job to educate the buyers/sellers as to the benefits of doing a real estate transaction in today's market!!! 

Good Luck! 

Mar 05, 2010 03:20 AM
Deborah Byron Leffler BzyBee Real Estate Lady!
Keller Williams Realty Boise - Nampa, ID

I hope you are wrong too...a lot of my buyers now are not affected by the tax credits...they are still buying...I think it will be our job to educate the buyers/sellers as to the benefits of doing a real estate transaction in today's market!!! 

Good Luck! 

Mar 05, 2010 03:20 AM
Mike Wilbur
Guild Mortgage Company and Oregon Homes For Heroes - Salem, OR

My concerns are the same as yours.  Lets hope someone steps up to buy MBS to at least help keep the rates low.

Mar 05, 2010 03:25 AM
Margo Currie
Exit 1 Stop Realty - Saint Augustine Beach, FL

Well, I hope your prediction is wrong as well. Our phones are ringing right now, and I'm hoping (and thinking positive thoughts) that they will continue to ring!

Mar 05, 2010 03:36 AM