Well the tax credit is now over for officially two months, the part where you actually enter into an agreement. Soooooo?
Did it increase buyers?
Did it correct the housing market?
Did it do what it was supposed to?
I know April was a feeding frenzy compared to the last year and a half. I do believe that the people that bought homes that month were going to buy a home anyway. I think we did a good job of sucking buyers out of the month of May and most of June. Where May is a normally very busy month with schools ending and people relocating it was slow as mollases.
I think it was a controlled slowdown and restructure for the housing market. Jobs and the economy will repair the housing market slowly. For us professionals if you haven't changed gears to structure your business for this new market what are you waiting for. When prices are low on the Market you buy, right? Well I have definitely have searched out the bargains for investors as that will be a strong market when some people realize they will be renting until the credit crunch eases. Rates may be low but..... you have to have the money to borrow it for that low rate. Taking on a rental property in a neighborhood with good return is becoming a good buy again.
The credit stabalized panic and allowed another distraction and minor artificial inflation. Many homes that sold at the end of April may have sold for a tax credit less or more in June or July, so the rush for the credit no doubt raised prices a little. Actually seemed like a little indirect welfare for us agents. As I said before though, change gears and market yourself accordingly for the market that we have.
Your Havertown Realtor
Century 21 Alliance
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