Existing Home Sales Are Expected To Continue Momentum Despite Expiration of Tax Credit

Many agents and brokers expected the modest gain in existing home sales to fall completely as the result of the expiration of the first time home buyer credit expired. The drop on property values coupled with the tax incentive help many new fist time achieve the “American Dream.” Many Coldwell Banker agents have indicated that they worked with buyers who may have missed the tax credit if it was not extended. On May 1st, Coldwell Banker introduced their own program and will offer a credit of 3 percent or up to $8,000 when part of an accepted offer, of their home’s purchase price to buyers who sign a contract before July 31, 2010. According to the National Association of REALTORS’, sales of existing homes are expected to rise 6.6 percent this year as a result of low interest rates and growing incomes. The National Association of REALTORS’ affordability index, which takes into account property values, mortgage rates and incomes, stood at 176 in February, eight points off the record-high reached in January 2009. Readings of 100 mean the households earning the median income can afford the median-priced home at current borrowing costs. The economy continues to improve so now is the perfect time to encourage your potential clients. If you have a web site, it is beneficial to show potential home buyers why the time is great to buy a home. Many tech-savvy agents and brokers do this by integrating video or news data feeds that inform and educate buyers. Many agents also publish home sales data in their local markets showing recent home sales. One of the best marketing tools, I have found is integrating IDX to your Web Site as you are able to market thousands of listings. As a potential home buyer myself, I am constantly looking to find the right deal.  I also find my self gravitating to Web sites that will inform and educate me.  Will it be your site?


RE/Advantage specializes in Real Estate Website Design, IDX Solutions, and Internet Technology. We have been working with the Real Estate Industry for over 10 years so we understand what makes a site work for you and your buyers and sellers. After all we have been developing real estate web sites, Internet tools and marketing strategies since 1997. No one provides a more comprehensive, well-thought-out site and tool set for your Internet presence. We provide you with not only the tools to manageand customize your site, but the peace of mind that comes from knowing we are here to help if you need us.

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