The Sprint towards April 30th

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Real Estate Agent with Calcagni Real Estate, Hamden, Connecticut Connecticut REB.0750397

I don't know about your area, but here in Hamden, CT, the market has really picked up. There are lots of buyers looking to get into a contract on a home before the April 30th deadlline, to qualify for the tax credit. We are even seeing mulitple offers on homes. It's been a while since we saw that. I expect the next two weeks to be a marathon, but at sprinting speed.

The first time homebuyers tax credit helped our real estate market at the end of last year. The first quarter of this year was slow, but April has really taken off. Typical - we all wait until a deadline is looming to react. My office is near a post office, and it was amusing to see the traffic jam on Aprill 15th.

Buyers are still conservative and cautious. Everyone has been bruised by the recession. When we do get a high offer on a property, we are nervous about the appraisal. I suspect that prices would be rising, but for conservative appraisals. I am cautiously optimistic about this real estate market - and hope the momentum continues after May 1st. Agents and buyers: put on those running shoes, and good luck to all!

 

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Rainmaker
291,631
Monique Hailer & Todd Combs, PA
Schooner Bay Realty - Cape Coral, FL
Waterfront Specialists!

Millie ~ The time is approaching fast. I have a few first time buyers, but they all like the short sales and I am afraid they will miss the deadline...

Apr 19, 2010 07:34 AM #1
Rainmaker
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Millie C. Legenhausen
Calcagni Real Estate, Hamden, Connecticut - Hamden, CT
CRS, GRI, CIPS, MBA, Realtor

Hi Monique, Your buyers would do better with probate houses. I still think they are the best deal out there. Banks can take so darned long to respond to offer, unless they are a local bank. Plus, there are multiple offers on these bank owned properties, further frustrating things. Good luck. Hope they all find something in the next two weeks.

Apr 19, 2010 09:28 AM #2
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Ann Allen Hoover
RE/MAX Advantage South - Hoover, AL
CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL

We are also seeing a flurry of activity and lots of multiple offers.  I've had a few buyers shocked to discover they are in a situation where they have some competition for a property.

Apr 21, 2010 11:41 AM #3
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Rainmaker
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Millie C. Legenhausen

CRS, GRI, CIPS, MBA, Realtor
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