It has been estimated that 1.4 million buyers have taken advantage of the current $8,000 tax credit being offered to first time buyers and those who have not owned a home in 3 years. Assuming that each buyer has received the full amount then $11.2 billion dollars has been paid (1,400,000 x $8,000 = $11,200,000).
Now let's assume that each of these buyers only received $4,000 instead of the $8,000. This would mean that $5.6 billion has been paid out ($4,000 x 1,400,000 = $5,600,000).
This past week in Realtor Magazine it was estimated that only 357,000 buyers were motivated by the tax credit to go out and purchase a home. If the full tax credit was taken by each buyer then $2.8 billion was paid to these buyers. It's even lower if you assume they only received $4,000.
Potentially $8.4 billion has been paid to those who were not motivated by the tax credit. They would have bought a home this summer even if there was no tax credit. Do we really call this success? Should we even be trying to extend this tax credit? My verdict is in: This tax credit needs to stop now!!
When it's time to buy or sell real estate in Greenville, SC you need to work with a realtor who is honest, trustworthy, and knows the market. The Dave Edwards Global Team makes a strong effort to keep up with Greenville, SC market trends by analyzing market information on a daily basis. Who do you know that needs to sell? Contact us today at 864.275.7250.
Crisswood subdivision in Greenville County:
| Year | Average Sold Price |
| 1999 | 0 |
| 2000 | 0 |
| 2001 | 115,243 |
| 2002 | 0 |
| 2003 | 104,633 |
| 2004 | 121,937 |
| 2005 | 129,083 |
| 2006 | 125,500 |
| 2007 | 132,000 |
| 2008 | 0 |
When it's time to buy or sell real estate in Greenville, SC you need to work with a realtor who is honest, trustworthy, and knows the market. The Dave Edwards Global Team makes a strong effort to keep up with Greenville, SC market trends by analyzing market information on a daily basis. Who do you know that needs to sell? Contact us today at 864.275.7250.
Based on sales by GGAR members.
Hammett Grove subdivision in Greenville County:
| Year | Average Sold Price |
| 1999 | 0 |
| 2000 | 0 |
| 2001 | 0 |
| 2002 | 0 |
| 2003 | 0 |
| 2004 | 0 |
| 2005 | 0 |
| 2006 | 181,441 |
| 2007 | 187,055 |
| 2008 | 174,820 |
When it's time to buy or sell real estate in Greenville, SC you need to work with a realtor who is honest, trustworthy, and knows the market. The Dave Edwards Global Team makes a strong effort to keep up with Greenville, SC market trends by analyzing market information on a daily basis. Who do you know that needs to sell? Contact us today at 864.275.7250.
Based on sales by GGAR members.
Chartwell Estate subdivision in Greenville county:
| Year | Average Sold Price |
| 1999 | 0 |
| 2000 | 0 |
| 2001 | 0 |
| 2002 | 165,368 |
| 2003 | 0 |
| 2004 | 136,488 |
| 2005 | 157,099 |
| 2006 | 169,511 |
| 2007 | 159,979 |
| 2008 | 159,535 |
When it's time to buy or sell real estate in Greenville, SC you need to work with a realtor who is honest, trustworthy, and knows the market. The Dave Edwards Global Team makes a strong effort to keep up with Greenville, SC market trends by analyzing market information on a daily basis. Who do you know that needs to sell? Contact us today at 864.275.7250.
Based on sales by GGAR members.
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When it's time to buy or sell real estate in Greenville, SC you need to work with a realtor who is honest, trustworthy, and knows the market. The Dave Edwards Global Team makes a strong effort to keep up with Greenville, SC market trends by analyzing market information on a daily basis. Who do you know that needs to sell? Contact us today at 864.275.7250.
Based on sales by GGAR members.
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