Tax Credit Expired, How are things?

Question

Asking the professionals, how has the end of the tax credit effected your investing?  How are your local markets now that it has expired?  All responses appreciated.

Vikram C. · Answer

I analyzed the data for the Phoenix metro (Maricopa county).  Sales of homes between $100K and $200K have declined by about 50% in the first half of May compared to the second half of April and are at levels similar to what was seen in Dec 2009.

Brooks Conkle · Answer

I'm in Mobile, AL
          We are actually offering our own $8k credit for buyers who buy our properties (furniture, closing costs, appliances, etc.)
          We've had a good response rate, as in this market we've got a lot of competition (other houses on market) and need a competitive edge.

Brian Haskins · Answer

Hasnâ€™t effected me much, but I sell to mostly investors. I'm sure it's affected those that sell to retail buyers because there just isn't to many people looking now.

Brian Haskins

Ted Harris · Answer

I know showings based upon recorded RMLS lock box activity in Portland, OR for the first half of May was way down compared to April ....

Michael K. · Answer

Here on the retail (consumer) side, things are DOWN.  WAY DOWN.  I had three sales in three days in April.  Nothing at all for May and June, and I'm working harder than before.  May have one coming up in July, hopefully another one or two in August.

Mike

Matt Kearney · Answer

Things are definetly a bit slower out there now. April was crazy busy, May slowed way down, but Junes been a little better.

There are still buyers out. We put a house on the market two weeks ago and got an accepted offer the first day. We put another one of our finished rehabs under agreement last week.

Delondon Dear · Answer

Investors on my list are cash buyers so it has not affected my side of things.

Michael G. · Answer

Things seem fine here in Pgh.

We have a lot of interest in our flips.  Also, our RE agent said she is still closing lots of deals and getting lots of interest on properties, appraisers have been too busy to turn around appraisals, the title company we use said they are swamped....

Things are pretty positive but then again Pittsburgh never had a huge run up or drop off.

Ricky Ostrom · Answer

The housing market is flooding here in Houston, TX and prices are dropping.   Last report I saw said prices dropped $3k - $5k last month alone.

Tax Credit Expired, How are things?

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