Well, the deadline has come and gone for those buyers wishing to take advantage of the tax credit.  Yes, you are correct, the buyers have to close on their purchase by June 30, 2010.

One of the biggest questions that I hear "Are they going to extend the tax credit?"  I don't know the answer to that question.  I would think that the government is going to use the home sale numbers to show how GREAT the economy is.  Of course the numbers are going to be great!  Every buyer that was going to buy this year and was in a position to get under contract and close by June 30....they are buying a house now!

What does that mean for the next couple of months?  What does it mean if you want to buy a home now?  What does it mean if I want to sell my home now?

Well,  even though we borrowed buyers from May, June, July and the rest of the year, there will still be some buyers.  Yes your house can still sell, just remember that the buyer of today is looking for THE BEST HOUSE IN THE BEST  CONDTION AT THE BEST PRICE!!!!!

So, if you are still thinking of selling, values have not increased!  Days on market may be a little bit higher and the buyers want it all.  The best advice I can give to a seller right now:  Price and Condition are everything and if your home is in bad shape or your location is terrible PRICE PRICE PRICE!  The buyers that could not take advantage of the tax credit are expecting to make it up in being able to buy a lower priced home.  (Keep that in mind)

Why do I say that?  There are lots of homes that did not sell in that mad rush last week of April!  One of those sellers is now desperate and willing to do whatever it takes to get their home sold!  They may even be willing to "Reduce their price to reflect a discount equal to or greater than the tax credit"!

Buyers think that they are in the drivers seat now more than ever!

What do you think?