Hi Freedom Home Finders,
It will help some people get off the fence who are in secure job positions (military, etc.) who sitll have equity in their houses. Yes, winter is slower but in Florida we never see the stand still that other parts of the country experience. In fact, December has historically been one of our best months in real estate. Will it have the impact that is hoped for? That depends on economic news and the confidence level of seller/buyers.

My hope is that it will create some jobs to pay back for the expense because people who sell and buy impact many other industries around them - repairs, remodels, appliances, furniture, window treatments, landscaping, etc.

I'm a glass half full person, and there should be some people who will want new construction if the price is right.

Sharon Alters, CDPE, GRI
Short Sale Specialist~Distressed Properties Specialist
Watson Realty Corp.
Cell 904-673-2308
sharon@teamalters.com

Lets think about this. The credit goes until april 29.
The winter selling non-season is during that time.
People are pretty much stuck with the kids in school not wanting to move until summer except for retirees.
unemployment is at 10.2%. 15.6 million unemployed.
we have 2.7 million foreclosures in the pipeline now with 7 million by 2013.
The ones who had money to buy pretty much already did. Lenders are strict now.
FHA and fannie may are exceptions, and they are having serious bottom line problems.
The federal reserve is about done buying mortgage backed securities. WHO will take over then?
Interest rates are going to have to go up in the next few months. The fed pulling back and the massive amount of money being printed force it to happen. When interest rates go up prices drop. Why buy when you know prices will drop?

I should be a first time buyer. I was going to look a lot more seriously about 2-3 months from now. But thanks to this credit I am no longer in the market. I will wait until after it expires to buy. I am not alone, Many others are waiting for prices to normalize. We simply refuse to pay bubble pricing. When a house sold for $70k in 1998 and we have had 30% inflation the house should cost around $90k. Not the greatly inflated price it now has.

For every action there is an equal and opposite reaction. This new buying credit has turned many people into watching the market instead of participating in it. The credit will die before it could really do much good.

Let's see. The $6500 is for a buyer who has lived in the home being sold or sold consecutively for 5 of the last 8 years as their principal residence. The emphasis should be on "being sold or sold". How many families in today's market and economy have enough equity or funds availability to cover the costs of selling their current home and then incurring additional costs to buy another. Sounds like a good idea, but I believe that the first time home buyer credit of $8000 will have a continuing impact on home sales.

All the best
Charlie Chorman - ABR
571-1358
yourrealtor@att.net

Hi Freedom,

Well, let's certainly hope so! I'm ready for them ~ C'mon!

Lynn