A few quick tid bits regarding The Home Buyer Tax Credit

Mortgage and Lending with The Savings Bank NMLS ID # 40276

Word on the street is that May 28th the final day that buyers can take advantage of the home buyers tax credit is shaping up to be the biggest day of the year for Home Sales for 2010. 

With talk of rates rising later this year, and the end of the tax credit looming, the economic rebound could slowly grind to a halt. 

The other interesting item I heard today regarding the tax credit is, that Home Sellers have stopped negotiating with, with potential 1st time buyers.  Knowing that 1st time buyers are in a tizzy trying to put together lst minute deals.

Keep you posted

Comments (4)

Don Wixom
RE/MAX Executives Nampa, ID - Nampa, ID
"Looking out for your next move..."tm

Jeff, I think now is a great time for traditional sellers (not short sales) to take advantage of the deadlines in their negotiating. It will be interesting to see what is next!

Thanks for the post!

Apr 08, 2010 03:05 PM
Jay Schmitt
Keller Williams Keystone Realty - Gettysburg, PA
Gettysburg Real Estate Agent

I am eager to see what actually happens once the tax credit ends.

Apr 08, 2010 03:11 PM
Rodney Mason
Guaranteed Rate NMLS# 2611 - Atlanta, GA
VP of Mortgage Lending - AL, FL, GA, SC, & TN

I am sure the REO asset managers will be swamped.

Apr 08, 2010 03:15 PM
Don Spera
CR Property Group, LLC - East York, PA
Serving York and Adams County, PA

The world is not coming to an end when this stimulus is gone.  Those of us that have been in the business for a while have been on a roller coaster ride throughout our career.  We have seen interest rates as much as 13%, sellers holding second mortgages, many more gift letters coming across the table and more.

Whatever happens, happens.  Just like we adjust to all the tech savvy equipment out there, we can adjust to what comes down the pipeline.  The strong shall survive.  Just like Jay said, it will be interesting to see, but creativity is still going to be a key.  Best wishes.

Apr 08, 2010 06:07 PM