Tax Credit

April 9, 2010

Well, things seem to be heating up once again with first time home buyers as well as move up buyers in our area.  People are trying their hardest to get contracts signed around by April 30th to receive the tax credit.  The homes that are selling are around $225,000 and below.  The good ones are selling rather quickly, which is a great sign for move up buyers that have prepared well.  If they can take advantage of this little “sellers market” in their market segment and then take advantage of the “buyer’s market” in their move up market segment, then I see that as a huge success.  Values have held steady for those properties that have been a target of the first time home buyers.  Prices have not increased, however; they have mainly held firm.  It will be interesting to see what the market will do once May rolls around.  Once again, if the government doesn’t concentrate on creating opportunities for private sector jobs, then we are in for a long haul.  Of course, it will still take a long time for the economy to work through the 8 Million jobs lost over the last two years.  The government is sure not to extend this tax credit, but they may just have to come up with more opportunities out there if our economy does not start to show healthy & sustainable signs of recovery soon.