Are you serious about selling your home?   Do is a move in your future?  

Real Estate Guy, has calculated that the days left for a first time buyer to take advantage of the $8,000 Obama Tax Credit.

We are predicting a sharp drop off in market activity after this imaginary time frame which will have a strong impact in all price ranges of the housing market.realestateguy sells a home

RealEstateGuy knows the Madison Wi housing market, however we believe this concept will play into effect in most markets in the country. 

Questions?

How did you calculate this date?

We worked back from the deadline a first time buyer has to actually close on a home to be eligible for this significant tax credit.  December 1.   then from the opinions amongst the lending, title, appraisal and real estate industry, we calculate the minimum time it will take to get a sale closed is 45 days.  The thinking is that there will be a lot of last minute purchases and the backlog will slow down the process.   Buyers will be best to leave some room for delays, hence 45 days, offer to close.  this given us a “D” day of October 15th.      

 I am not a first time buyer, nor do i have a first time buyers home.

You do not have to be a first time buyer or have a first time buyers home to take advantage of the momentum in the Madison housing market created by the Credit.    The momentum has been significant and has created a significant strengthening of the market.   Not only for first time homes, but for move up homes too. 

This momentum could go away, so Real Estate Guy is predicting this being the best time for quite a while to sell.

I will wait till spring?

If the tax credit is not extended, and the economy not back to healthy, then buyers will have little reason to come out and buy.  Furthermore, those who would have bought in 2010, will be buying NOW- in effect we have borrowed buyers from the future to help us out now.

What if the credit is renewed? 

Great question, it may be.   However the momentum from this year may not be regained, because we borrowed buyers from the future.

I point to all the reasons for buying a home now as reasons buyer should be jumping now.

What can i do now.  Get to an agent, who has demonstrated an understanding of how the market is working, and has a track record in success, ie actually closing on a high proportion of homes they listed.

Do I still have time to put my home on the market and get sold? 

Absolutely, Buyers are being particular in chosing the best homes on the market at the best price.  The pool of these homes is limited, and if your home is in that pile, you will get an offer quickly.  But NOW is the time to be getting started.     

More Questions, contact us through our web site:

Check out the Real estate Guy Team, Madison Wisconsin