what will happen when the homebuyer tax credits expire?

what will happen when the homeowner tax credits expire?

that’s a question i have been pondering for a few months. the people i have talked to believe there may be a wait and see period for many would be buyers after the credits expire and homebuying may slow a little bit, but no one really knows. the latest on the tax credits is, if you have an transaction under contract by april 30, 2010 and it closes by june 30, 2010, you can qualify for the tax credit.

i came across a good article at palletenterprise.com (of all places) that addresses this same topic and also gives some great insight and also lays out a couple of different scenarios based upon unemployment, which is improving, and the role of FHA loan requirements, to name a few. you can read the full article here. 

i’d love to hear how you think the housing market might be performing later this year. what are you noticing in your neighborhood?

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