Will the Tax Credit Expansion Really Help Sellers - Moving Up?

Will the Tax Credit Expansion Really Help Sellers - Moving Up?


The Tax Credit Extension for First Time Home Buyers until April 2010 is great and will keep the momentum going for some markets. The Expansion to Homeowners who have lived in their home for the last 5 years, makes me kind of do a Hmmmm.

If we really think about it, once signed in to law the most important step for sellers will be to Sell their "Existing Home"! We have one of the best and most robust markets in the country, here in Fayetteville. But, with the holiday months coming, just like most markets we see a slight downturn.

Sellers typically do not like to place their homes on the market during the Thanksgiving & Christmas holiday months. In essence, if Sellers delay we would only have a total of about 4 months to list, sell, find a home and place under contract (with a Contingency on Closing on their Existing Home).

Motivated sellers that have a sense of urgency will most likely fare well in selling their home during the Thanksgiving & Christmas holiday months. This motivation and sense of urgency will help ensure they don't miss this rare opportunity to sell their home, upgrade and receive the proposed $6500 tax credit.