Federal Home Owner Tax Credit Ends
Friday, April 30th, 2010
Today is the last day to get a contract signed on a home in order to cash in on the $8000 tax credit for first time home buyers and $6500 for existing home owners. How this will affect the real estate market is yet to be seen. And more over how it will affect our local market is the question close to our minds. The general buzz around the nation is that the incentive is more appealing for first time home buyers, but for others the free money is not the motivating factor in purchasing a home right now. And in fact buyers will continue to look for a home even after tonight’s deadline.
The rush to get contracts signed has not been a frenzied, but rather a steady increase in contracts signed in the past 2 weeks. Most buyers have prepared for this date and now have sales which must close before the next deadline of June 30th, in order to get the credit.
Time will tell how much this incentive really worked. But right now the market is on an up tick. Is it because of the tax credit, or are we really seeing signs of consumer confidence coming back? Either way, it’s a good sign for our local markets.



Are you one of the millions of last minute tax payers? Don’t worry, you are not alone. If you feel the stress and need a break here are a few tax related quotes to help put that smile back on your face:
