The Weekly Poll: What will happen when the home buyer tax credits expire?
photo credit: Brooks Elliott
The weekly poll is frantically searching for a house to buy by Friday. Go vote and tell it to call a good agent for some help.
This week’s poll topic is one that I’ve been living and breathing for the past month: the home buyer tax credits and their looming expiration. Specifically, I’m curious about what you think will happen, once the deadline for those credits (buyers must be under contract by April 30th) comes in just 5 short days.
A lot of agents — and home sellers — are nervous that the increase in sales we’ve seen over the last few months will slow significantly once the tax credits expire.* Me, I’m not so sure: I’ve already had two first time home buyers tell me that they will buy a home whether they qualify for the tax credit or not. And ultimately, the bottom line is that, tax credit or no tax credit, people will still have to move and that means they will still be buying and selling home here in Knoxville.
So, what about you? What do you think will happen once the home buyer tax credits expire? Do you think dark days are ahead without those $8,000 and $6,500 incentives? Or do you think the market will shake it off and keep improving? Cast your vote and let me know!
*Keep in mind that even though the credits are expiring for the general population, we did just get word that they will be extended for military families and active-duty service members currently living overseas.
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Author: Suzy
Hard working Knoxville real estate agent by day. Intrepid Knoxville real estate blogger by night.
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