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There’s a lot of controversy about government spending these days, including the extended tax credit for home buyers. I'm not going re-hash the debate, but I want to make a statement about my thoughts from the perspective of a real estate agent.
First, did the credit that is about to expire help at all? I think the obvious answer to anyone familiar with our local market is “Yes!” It most certainly turned the entry-level market around. It’s actually difficult to find a nice, 3-bedroom, 2-bath house in Arvada for less than $225,000, with simple specifications such as it doesn’t adjoin a busy street or train track.
That’s not my opinion, that’s the real-life experience of people looking for a home right now. The tax credit cleaned out existing entry-level inventory. There are more homes available in surrounding cities such as Westminster and Thornton, but the ones that aren't over priced go fast.
Along with the $8,000 tax credit for first-time home buyers, the new tax credit offers $6,500 to people who have owned a home for at least five years, when they buy a new home. I believe this will have the effect of making more entry-level homes available, and really jumping our local market into high gear.
Is it good or bad for our country? Will it help or hurt our economy? Is it morally right or wrong for me to benefit from it, in the form of more clients? I don’t know all the answers – all I know is this –
If YOU want to buy a house, and this tax credit is going to make it feasible for YOU, and YOU want to take advantage of it, I’ll be so excited for YOU and completely supportive. But YOU have got to get going NOW, especially if you have a house to sell. (You must be under contract on the new house by the end of April and closed by the end of June.)
The people that have made the most out of the tax credit thus far, are folks who bought homes that needed work, and used the funds to do a large portion of that work. These people may not have been able to buy a home at all without the credit.
The people who most need the ‘move-up’ funds of $6,500 are folks who need to move into a bigger house, smaller house, closer to an ailing family member, etc., but don’t have any equity, and don’t want to move with no money at all left in their bank accounts. Many who already have their house on the market will now see their way clear to lowering the price and getting their plans for their future moving again.
Is it ‘right’ or ‘wrong’ in the big picture? Time will tell. But is it right or wrong for YOU – that’s what matters to ME. Please, let me know if the tax credit made or is going to make a difference to you, even if you used a real estate agent other than me.
I’d really like to hear your stories.
I write posts on real estate issues and local events in the Denver metro area, especially those communities between Denver and Boulder, as a public service. My hope is to give people an idea of the 'flavor' of our community, in case they're new here or considering a move here. I've collected my local info posts here.
I am a residential real estate agent, and would love to assist you if you're considering buying or selling a home in the northwestern Denver suburbs.
Find homes for sale in Arvada and nearby communities.
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Life in Arvada is the subject of several posts I've written on neighborhoods, merchants and stores, things to do, and other local info, with the hope of helping those trying to get a feel for life here.
I know how hard it can be to get a handle on the ins-and-outs of a smaller town like Arvada. People seem to think about Denver or Boulder when moving to Colorado, but what about all those suburban towns and neighborhoods between the better-known cities? Arvada is one of those towns, and it's a sweet one.
So if you're new to the area between Denver and Boulder, or thinking of moving here, I hope you'll find the info in these posts informative and enlightening. I've gathered them here, and will keep adding links to this post as I get new ones written.
Enjoy!
(And if you have questions I can address, or if there's something you'd like to see more info on, let me know.)
I write posts focused on local businesses as a public service, and am not endorsing any business, nor do I have any sort of 'relationship' with them, other than as a raving consumer. My hope is to give people an idea of the 'flavor' of the community of Arvada, in case they're new here or considering a move here.
I am a residential real estate agent, and would love to assist you if you're considering buying or selling a home in the northwestern Denver suburbs.
Neighborhoods
New Homes for Sale in West Arvada - Whisper Creek, Spring Mesa, more
Olde Town Arvada's Historic Neighborhoods
Village of Five Parks Sales Statistics
Pomona Lakes homes with 2000 Finished Square Feet
Pomona Lakes Real Estate Snapshot
Arvada Colorado Luxury Home Market Report
Merchants & Stores
A Butcher - Steve's Meat Market
A Baker - Rheinlander German Bakery
La Patisserie Francaise French Bakery
Novo Coffee and The Arvada Coffee Bar
A Candlestick Maker - Nature's Gift Candleworks and Studio
Things to Do in Arvada
Things to Do Near Arvada
Quality of Life
Recycle Your Turkey-Frying Oil
How our Doggies Deal With the Snow
My Newsletter on Local Events, News, and Real Estate
Local Real Estate Information
Check Building Permits Before you Buy a House
I have lots of other posts you might like - here's my blog.
Subscribe to my blog using the button to the right.
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Gotta love Colorado-- The 2 foot snow from last week is gone from the streets and is still in the hills
Goin to be a great skiing - boarding base !!!!

Gary DiGiorgio
The DiGiorgio Group
9035 Wadsworth pkwy 2000
Westminster.Co 80021
Direct 303 898 4279
Office 303 422 5200 fx 303 467 0211
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