After April - What do you think?

By
Services for Real Estate Pros with Homes & Land of Greater San Antonio

I am still "up in the air" about the real estate market after the tax credits expire. There is no doubt that the credit has put "wind in the sails" of most markets. If fact, most recent sales increases could be attributed to this incentive. But how will the market behave once these tax credits expire?

So lets hear what you think about what will happen after the tax credits expire. Will the market feel the effects of its expiration? Will the markets that have experienced home sale growth continue this trend? Could home sales possibly slow to a rate that we have not seen, ever? Any opinions will be great to shed some light on everyones thoughts.

Regardless, and until then, let's take advantage of this opportunity. As they say "Make hay while the sun is shining!" And be ready, because if this Spring will be anything like the last three months with buyers rushing to the closing table to beat the dealine, it could provide for one of the robust markets we have seen in a long time! Enjoy.

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Rainmaker
231,945
Sara Woolford & Steve Golson, ALHS
iTexas Realty Co. - San Antonio, TX

Our early indications from buyers look like 2010 will be close to 2009, with "incentives" playing a roll, but what seems to still be lacking is consumer confidence.  Nationally it seems jobs is the # 1 issue---increasing snarking leading up to mid-term elections, lots of finger-pointing; of course the controversial health care "reform".  We don't see much chance for improvement in attitudes to help consumer confidence, so getting buyers off the fence will probably be harder after the "incentives" expire.  We expect interest rates to move up at the same time, pricing some buyers out of the market.  -steve

Dec 24, 2009 11:18 AM #1
Rainer
46,251
Douglas Lovitt
CENTURY 21 North Homes Realty, Inc. - Mill Creek, WA

Graig, unfortunately I agree with a couple of the points Steve just made.  The market is being artificially spurred.  I don't think it will take a complete nose dive at the end of April, but it is going to slow down.  Our industry needs the overall economy to improve this time.  If 1 out of every 10 people are out of work, there not going to be in the real estate market.  Then there are those that are so nervous, they are just going to wait.  Sorry my friend, we still have another bumpy year ahead of us.

Dec 24, 2009 11:43 AM #2
Rainer
75,559
Joel Prince
The Principle Group, Inc - Hixson, TN
Hixson/Soddy Real Estate Broker

Because the tax credit extension ends in the spring, the season alone will be somewhat of a buffer. 

But I think the credit will transfer demand to April from later months.  There will probably be a significant slowdown in May and June.  Perhaps even beyond.

Dec 24, 2009 01:52 PM #3
Rainmaker
1,418,205
Rebecca Gaujot, RealtorĀ®
Coldwell Banker Stuart & Watts Real Estate - Lewisburg, WV
Lewisburg WV Real Estate, Greenbrier County

Graig, I wish I had a crystal ball.....then I might be able to answer your questions.

Dec 26, 2009 03:38 PM #4
Rainmaker
267,701
John Thomas
E3 Green HOMES - Boulder, CO
EcoBroker, MSEE, MBA

It will be interesting to see what happens. Meanwhile, there is no time to wait. We all need to take care to develop the skills we need to survive and thrive in changing markets.

Dec 27, 2009 07:39 PM #5
Rainmaker
956,678
Kathy Clulow
RE/MAX All-Stars Realty Inc. Brokerage - Uxbridge, ON
CNE - ASP - SRES .... Uxbridge Ontario Real Estate

Graig - a crystal ballw ould be a great help in answering your question however the market will do what he market will do and we will shift to meet it.

Dec 27, 2009 10:30 PM #6
Ambassador
666,262
Ann Allen Hoover
RE/MAX Advantage South - Hoover, AL
CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL

I expect more challenging times ahead.  A large percentage of my recent business is a result of the tax credit......so I'm thinking about what I need to do when it's not available anymore.

Dec 28, 2009 09:29 AM #7
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Rainmaker
74,582

Graig Ponthier

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