By now we have all heard about the First Time Home Buyer Tax Credit for up to $8,000 as well as the new Credit for Existing Home Owners of up to $6,500.  These government-issued credits are creating a situation that could hurt us in the second half of the year if we are not prepared.
 
The allure of getting $8,000 to purchase a home has attracted many buyers that normally would have waited to purchase. This is great in the short term but at the same time it creates a vacuum in the third and fourth quarters of 2010. The home buyer credit is sucking July through December buyers into buying now before the deadline. Because of this, there will be a lull in business after the credit ends. At about the same time our government is ending their subsidy program which has kept interest rates so low for the last year. Together this could create a perfect storm and cause a huge slowdown in home buying for the second half of 2010. The same thing happened with the "Cash for Clunkers" program. While the program was in effect there was a mad dash for new cars, shortly after car dealers were like ghost towns.

Don't be a victim, be proactive.  Make sure you're working with a Realtor that understands what is happening in the market now as well as what may happen in the future.  Experienced professionals track sales data through the MLS, listen to those that are in the Industry, and do all they can to equip themselves and their clients for success.  This is a difficult market to sell and buy Real Estate with certainty.  If you'd like help with identifying excellent opportunities to buy or sell your home please contact me at (843) 345-1273 or LowCountryHomeSales@gmail.com.

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