3 Lessons from the $8,000 Tax Credit

  1. End of Homebuyer Tax Credit ProgramNothing lasts forever.  “Although the first half of 2010 saw home sales increase up to 39 percent over 2009, July saw a decrease of 28.6 percent in sales.”  Ouch.  The frenzy due to the $8,000 tax credit really got the public in a buying mood; but, now we are dealing with a void that this economic push has created with no government tax incentive in its place to drive more buying.
  2. There are still benefits with historically low interest rates. “The pace of a sales recovery could pick up quickly, provided the economy consistently adds jobs.”  The economy needs to continually become stronger in order to create the security that is needed to bring back the housing market.
  3. Homes have intrinsic value.  The buyers that I have been privileged to work with are placing more emphasis on what is right for them and their situation in this moment in time.  There has been a Renaissance in the concept of a home.  The view of a home has changed from a possible cash cow to one of residence and permanence.  Buyers have been more conscientious about what they can reasonably afford and have been following through with larger down payments.

Home buying is about what you need and what you desire for you and your family.  Each area and home is different and fit different personalities. Knowing the best fit and helping the clients guide through the discovery process is the real job of a Real Estate Consultant.