Home Buyer Tax Credit having desired effect
We are hearing from our industry contacts around the country that on a community by community basis, the Home Buyer Tax credit has in fact stimulated sales in many communities. Communities of moderately and lower priced homes are seeing the biggest boost from the first time home buyer market. Those who have been on the sidelines waiting to buy figure this is the last time that the government will offer the credit so it is now or never for those wishing to cash in on the governments generous offer.
The credit goes away on June 30th so buyers are in the final stretch of getting paperwork in, completing appraisals, and meeting any last minute underwriter requests. Watch the flurry of closings in the next 2 weeks in the Real Estate market in your community. We hope agents, banks, and title companies can actually uphold all of the commitments they made to borrowers who bought with the expectation of closing by June 30th.
Let’s see what happens!
