According to the NAR, we have less 1st time home buyers this year compared 2010 especially 1st time home buyers were not able to get the $8000 tax credit like last year. But 1st time buyers made up 36% compared last year where 1st time home buyers made up 49%. Investors purchases increased to 20% compared 15% in 2010 and repeated buyers made up the remaining 44% either traded up or downsiding.
Only 25% of 1st time buyers can afford 20% downpayment and we saw a wide range fell in the existing home sales in condo (-2.3%); Single family home sales prices (5.4%);
Regionally, existing-home sales in the south declined 4.1 percent and the median price in the South was $142,800, which is 4.1 percent lower than April 2010.
Even though we don't have $8000 tax credit which we saw a increased investors purchases which they saw less 1st time home buyers and sellers are more willing to negotiate and still have huge inventory of Foreclosures and Short Sales properties.
If you are thinking to buy real estate and right now is better than last year where lots of 1st time home buyers was motivated by the $8000 incentives. But when you shop around this year, you will find out without the tax credit and you actually may able to get a better deal than last year.
Anyway, if you are looking to buy, sell or relocate to Cary, Raleigh, Morrisville, Apex, Durham, Chapel Hill area, please feel free to contact me and I am looking forward to assist you and your family in your real estate needs!
Cary-Raleigh Realty, Inc (三角房地产投资公司)
Hannah Chan ( 陈海娜)
Broker/Owner/Realtor, GRI
919-426-1854 (Cell) 919-468-1570 (Fax)
Address: 1601 Walnut Street, STE 201, Cary, NC 27511
Website: http://www.caryraleighrealty.com
Email: caryraleighrealty@yahoo.com
Blog: http://caryraleighapexmorrisvillerealestate.blogspot.com
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