Tax Credit is over....waiting for the "back on the markets" to start hitting

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Real Estate Agent with TOP 1% of Realtors

I have a feeling that we are about to see a lot of homes coming back on the market and probably a lot of mad buyers and sellers. Rushing to get under contract by the deadline, many of these buyers may not actually qualify for their loans. And if they put offers on short sales, many will not close by the June deadline. Appraisals and inspections are surely to be a problem for many of these "tax credit offers." 

The inventory of homes for sale in Davie, Weston and Plantation is relatively low this week but I do expect to see a lot of homes coming back on the market in the coming weeks.

View all the homes for sale in Davie, Weston and Plantation. www.TerisRealEstate.com

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Rainmaker
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Pat Champion
John Roberts Realty - Eustis, FL
Call the "CHAMPION" for all your real estate needs

I know a lot of buyer's were rushing at the last minute-I hope this does not mean the homes will be back on the market we will have to wait and see.

May 03, 2010 08:02 AM #1
Rainer
24,955
Cheryl & David Skolnick
Keller Williams - Rancho Cucamonga, CA

Well I sure hope that that will not be the case, let us pray that those who just purchased are satisfied, thanks for this post make it a great day.

May 03, 2010 10:03 AM #2
Rainmaker
514,381
Tom Priester
Paradise Sharks - Jupiter, FL
Paradise Sharks

Teri, I watch the market metrics very closely here in northern Palm Beach County and seeing the effects of the end of the Tax Credit will certainly be interesting.

May 03, 2010 10:49 AM #3
Rainmaker
443,911
Rodney Mason
Guaranteed Rate NMLS# 2611 - Atlanta, GA
VP of Mortgage Lending - AL, FL, GA, SC, & TN

I think I saw more unqualified buyers last week than I have seen all year.  Of course, most of them did have Pre-Qual letters already from other lenders.  Had those gotten contracts accepted, its just a matter of time before they would have been back on the market. 

May 03, 2010 01:47 PM #4
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Rainmaker
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Teri Arbogast, Davie, Weston, Plantation Real Estate- Top Realtor

Davie Florida Realtor, Weston, Plantation, Miramar
Talk to Teri! I will respond quickly
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