Slowing down!
Written by John on October 11th, 2009. Filed under Uncategorized and tagged with , buyers, first time, First Time Buyer, home, homeowner, house, taxcredit.As we approach the Holidays and Winter months, are we going to see a slowing down of sorts? I would say so, the first time homebuyers credit deadline is November 30, 2009, which means that all first time home buyers or buyers not owning anything within the last 3 years are eligible to get the $8000.00. The idea behind the push was to create a domino effect, the first timers purchase, then the sellers move up in price on a new house and so on.. I don’t think that has happened as often as some might think. We need this credit to continue through spring. Its keeping an energy about the market and helping first time buyers jump into the pool of home ownership. I would be surprised if the credit wasn’t extended! We will see. Prices are starting to get lower, but I don’t know when we will get to the bottom, simply because its dictated by motivated sellers and sellers are very motivated. The problem is getting buyers, not first timers, to make a decision. Its hard to know whether you are getting a good deal or if the prices will fall more? I think we are close and now is the time if you want to buy. The spring market should be better and things will hopefully heat up, especially coupled with an extended taxpayer credit??