Trust and Wealth Management Marketing: What happens when a home-buyer tax credit expires?

Thursday, May 13, 2010

JLM said...: Realtors told us home shoppers were rushing to seal deals in order to grab the tax credit before it expires. No surprise that sales would slow briefly thereafter.

At worst, sellers will have to ask, say, $340,000 instead of $350,000 to compensate for the expired tax credit. But in your market area, coastal Connecticut, that probably won't be necessary. Sales have stabilized, according to the CT Post. And along Connecticut's Gold Coast (e.g., Greenwich) sales are once again "on fire."

Low mortgage rates and lots of money still sloshing around are fueling the fire. A rise in interest rates would worry realtors a lot more than loss of the tax credit.; 9:42 AM
Jim Gust said...: Lots of for sale signs in my part of Connecticut, including for sale by owner. I think you are painting an overly rosy scenario. Prices may have bottomed in a few markets, but around the country we have a ways yet to go.; 11:05 AM

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