Buyers Rush to Meet Tax-Credit Deadline

As the federal tax credits come to an end, home buyers everywhere are hurrying to get in under the wire.

But in California the rush has turned into something of a stampede as some would-be buyers try to qualify for both the federal credit and a $10,000 state credit that kicks in Saturday.

As one home shopper tells the Los Angeles Times, "I am looking at properties almost constantly, and it is just kind of a feeding frenzy right now.”

"The stimulus has worked," says Rick Hoffman, president of Coldwell Banker Residential Brokerage in San Diego and Temecula Valley. "Buyers are confident that we have seen the bottom of the real estate market and that we are on the way back up."

Source: Los Angeles Times, Alejandro Lazo (04/30/2010)

Will the End of the Tax Credit Hurt Real Estate Business

Q: Will the expiration of Home Buyer Tax Credits have a major impact on the homebuyers? Or will the ending of Home Buyer Tax Credit unlikely to deter real estate buyers?

A; I don't think there is any doubt the ending of the Home Buyer Tax Credit HBTC will affect the real estate market negatively. The question is for how long? My opinion is that the affect will be short term. Again it is my opinion that with the deadline of the HBTC gone, more people will start to take notice of the value that is available in the short sale market.
There are many quality homes for sale at greatly discounted prices that have been overlooked because of the deadline imposed by the HBTC. Traditionally, short sales have taken a long time to close. However because of the negative effect of foreclosures on the economy, the Obama administration is bringing pressure to bear on the banking industry to speed up the process. This speed up is becoming apparent. I am looking for these sales to pick up.

Community Concert

The Whidbey Community Chorus presents its annual spring concert this weekend. There are two performances. Both are performed at the Oak Harbor 1st Methodist Church on Ireland Street in Oak Harbor. The music performed includes some songs from "Cold Mountain", songs from John Denver, and a collection of Big Band era songs. This is expected to be one of the best concerts this chorus has performed yet. The concert is on Friday, the 29th of April at 7:00 PM and a matinee on Sunday at 4:00 P.M. Admission to both concerts is free.

Gil Daigle Attends Specialized Real Estate Course

Gil Daigle, of Coldwell Banker Koetje Real Estate, has completed a highly specialized course in the new skills involved in obtaining and servicing real estate listings, conducted by the Council Of Residential Specialists of the National Association Of Realtors.

The course included techniques in sell counseling, pricing, various client servicing activities, marketing techniques and other programs designed to close sales on residential properties.

"Today's real estate market is more complex then ever before and the listing process has become the key in the movement of residential properties," said Gil. "This course provided me with new input to enable me to serve both buyers and sellers of residences more effectively."