First-Time Homebuyer Credit Deadline Approaching

Its crunch time for the tax credit! We’re seeing multiple offers on many of the REO properties right now. Buyers want to take advantage of the credit, but time is running out. I think we’ll see an increase in sales through June. Great, informative post for buyers looking to get the tax credit!

Very informative post. I am wondering what is going to happen to our local market after April ends. We might see that first time home buyers no longer in the majority.

At least we got one extension on the tax credit!

It was slower than anticipated in the Houston area this winter. I’m starting to see more foot traffic around here though. I hoping to get we will see a rush of people this spring trying to take advantage of the credit before it runs out.

Same here in Atlanta. It’s kinda crazy, but it has been since the beginning of 2010. I’m really wondering what’s going to happen when it expires. Although, it will be nice to see the market adjust on it’s own without being artificially stimulated.

Its crunch time for the tax credit! We’re seeing multiple offers on many of the REO properties right now. Buyers want to take advantage of the credit, but time is running out. I think we’ll see an increase in sales through June. Great, informative post for buyers looking to get the tax credit!

Thanks for the post. We will have to wait and see how it all shakes out in the market. I sure hope spring and summer buying seasons will make up the difference when the credits expire.

I’ve been wondering if they will extend the tax credit again or if this is it. Now would be a great time to buy a home, I’ve been looking here in the Austin area but I’m not sure I am ready to commit to a mortgage right now.

I’ve only seen 1 buyer actually get the credit. Every other transaction I’ve done, the buyer didn’t qualify.

So a lot of people are saying it’s the tax credit that has propped the market up, but I haven’t seen that at all.

Was this just a temporary scheme intended to help with all the recession doom and gloom?

Over here in the UK things seem to be slowly getting back to normal but we could use a scheme like this one for first time buyers who really struggle to get anywhere close to the property ladder with the ridiculously inflated house prices over here.

I think it’s a plan by the government to stimulate the economy. The housing industry, at least where I am from, has slowed down significantly. Real estate agencies and builders are struggling. It’s having a big effect. I am the target audience for this, and am really considering taking advantage of it – thanks for the post!

Although there is a lot of talk about how this has been driving the market, I have not experienced this with my buyers. But for those who actually qualify, there’s no time like the present. Act now or miss out.

There seems to be a real panic in the lower end of the market to suddenly buy a home to get the tax credit. It doesn’t seem to be affecting the upper end of the market.

It will be very interesting to see what happens in our market when the deadline comes. i know right now we have a lot of people struggling to find something.

Homes in our area priced less than $750K are selling; however, in the Laguna Beach area the ratio of closed transactions vs. inventory since the beginning of the year is lower. This is most likely because the homes available are priced over the limits for the tax credit and financing at these levels is scarce. Transactions are closing; however, with cash deals or large down payments.

Thanks for the post. We will have to wait and see how it all shakes out in the market. I sure hope spring and summer buying seasons will make up the difference when the credits expire.

I hope the First Time Homebuyers Tax Credit is extended yet again but you just never know until the last minute. With our US economy still fairly flat, it just seems it will be extended.

I have written about this…oh like 5 times in the past year, and wish people would not wait until the last minute. I hope they extend it well, as the buyer season usually doesn’t kick in until May anyway.

Good article & Great points!It will be very interesting to see what happens in our market when the deadline comes. It’s having a big effect for Real Estate. I am the target audience for this, and am really considering taking advantage of it

Eric, I don’t know about you but the Atlanta real estate market has been on fire this month. We only have 3 more weeks and we are making the most of it!

This first time buyer are really nice for the starting family great homes = happy family love this news!

There will be no extension on this credit. I am facinated by the last minute rush of buyers that we are seeing in our area.

I know it was a huge incentive for our clients. I’m also a banker, so from that aspect, business was doing pretty well too. We didn’t personally experience the rush that David Phillips experienced–it was pretty steady throughout.

I am so amazed of the effect of home buyer tax credit. Many families have been enjoying the incentives and real estate market is taking off the road to increasing productivity in the end. Thanks for sharing this wonderful post. Keep it up!

Very informative post for buyers. I’m actually wondering what’s going to happen when it expires. Although, it will be pleasant to see the market adjust on its own without being unnaturally enthused.

Very helpful. This post is really gives us an idea what the market is going to be after the deadline. It is amazing how the made the effect on home buyers tax credit. The real estate matket is taking of to the road to increasing productivity in the end.

Well, now that this program is gone, don’t forget we have the Bond 77. Just Google “bond 77 tx loan” and you can find out all about it.

Pretty sweet deal for TX home buyers!