Florida Home Buyers and Investors Blog

Well the race to get in on the $8,000 tax credit is winding down.  Buyers who are not in contract by next week, will likely miss the boat, unless Congress extends the offer.

I'm note sure they have enough votes, but the NAR is strongly in favor of extending the credit.

There was an intersting article in the Palm Beach Post today about a buyer who has been looking for the "perfect" property, and thought they had time to think about it.  Well that did not work out too well, when there were 20 other people all bidding on the same property.  He lost the house to another buyer who was willing to pay more than list price.  Typical of first time buyers.

And so it goes, the Sellers market is back..  With limited supply of homes that qualify for financing at a 2 year low, anything with minimal renovations is flying off the shelf.

Even the investors are getting picky, only bidding on properties that need minimal repairs in order to flip for a nice profit. 

I'm hopeful that the momentum will continue even after the tax credit expires, even though working with first time home buyers is a HUGE challenge.  Most have no clue what they want, or have expectations far above their means to purchase.  Buyers should be well educated prior to looking for a first home.

Come January 1st, the Cold Weather vacationers will return, like they do every year and will find great bargains on second homes, and vacation homes.

Those with CASH can get an incredible deal on Ocean Front condos where financing is difficult to obtain.

As we get into the Fall Season, things will slow down a bit, with everyone gearing up for a Banner 2010!