Wednesday, April 14, 2010

Time is running out!

The spring selling season is upon us and opportunities abound to boost the housing market and get it on a positive track. We have the advantages of low interest rates, affordable housing stock and the homebuyer tax credits that expire within just a few weeks. We also have an ever-growing supply of short sale inventory – and the sooner those houses can be sold, the better for all involved.

April 30 is quickly approaching
The homebuyer tax credits have been pivotal in helping move inventory. At this time, it appears that the government will not offer another extension. Any first-time or move-up buyer who is interested in taking advantage of the tax credit must have a binding sales contract by April 30, 2010 – with the home purchase completed by June 30, 2010.

Time is of the essence
Short sales remain significant factors in today’s marketplace, allowing more prospective buyers than ever to become homeowners. Because these transactions are more complex, it is imperative that real estate and lending professionals work efficiently as coordinated teams to help our customers.
We are not hearing that the tax credit will be extended. Hopefully we will have new programs for lending that will keep the purchasing moving.

I am committed to helping you.
Christine Parrish 816-7000

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