With the expiration of the home buyer tax credit, some are worried that the real estate market will cave in. I don’t think this is the case. My article of April 20, 2010 detailing the First Quarter 2010 Atlanta Real Estate Market shows that compared to the same time period in 2009, the Atlanta Market is improving. As fact would have it new construction is actually rebounding as well.
When 100% financing options went away(except for VA Financing) what happened… the sun still came up the next morning, the market still did business and yes there remained a need for qualified REALTORS to assist buyers and sellers with their real estate needs. Look what happened when the “Cash for Clunkers” program expired…automobile sales took off like a rocket shot and the manufacturers began looking toward profitability.
Let’s Look at the Facts
The First Time Buyer Tax Credit was put into place to help stimulate the national real estate market in 2008. Real estate had just been through one of the most severe downturns in history. The tax credit was continued through 2009 and in November of 2009 an additional category was included that would benefit current homeowners (in certain circumstances) with a tax credit also. When Congress extended the first time buyer tax credit and included the current owner category in November 2009, they made it clear that the program was not going to be extended again. This is not to say that there will never be another program like this, but at midnight on April 30, 2010 this program is gone.
Alternatives
While there are alternatives that are not tax credits, they do assist First Time Buyers with the purchase of a home. There are down payment assistance and grant programs from the various counties as well as the State of Georgia. For information on these programs please get in touch with me and I will assist you.
Amazing Deals Exist
Even though the Atlanta Real Estate Market is recovering, amazing deals still exist. Short Sale opportunities as well as Foreclosure and HUD properties are fairly prevalent in most areas and represent an excellent opportunity for buyers and savvy investors to snatch up a steal of a deal on a home. Do you fit into one of these categories? Just let me know and we can start locating your dream home immediately.
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The relationship between a home buyer or seller and their agent is based on trust, shared goals and understanding. At Christensen Investment Group, a leader in Duluth Real Estate, we pride ourselves on being area market leaders in home sales and helping people meet their real estate dreams. Our Duluth Realtors offer assistance with every aspect of buying or selling your home, and strive to continually improve by taking your needs and wants into consideration. We have a huge selection of Duluth homes to choose from, and we are certain that we can help you find the home of your dreams.
Well I see that it doesn’t matter what part of the country you are in, trust and understanding still matter!