With several reports coinciding with CNN's financial report, it is excellent to hear that home sales have increased. In fact, home sales have been above last year's averages concurrently for 9 months. Along with an increase in sales, there have been continual increases in potential purchasers due to the tax credit being offered of up to $8,000 for 1-st time buyers and up to $6,500 for repeat buyers. With this coming to an end (homes must be under contract by 4/30 and closed by 7/1 to be eligible) our market has been rushing to meet the deadline.
After the April 30th deadline passes by, our market is also going to be seeing a large surge of foreclosure properties. With an increase in inventory of distressed properties, the market values will be declining yet again. In order to get the most for your home, in the shortest amount of time possible, now is the time.
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