The $8,000 tax credit is set to expire very soon. Buyers must be under contract by April 30, 2010.
The consensus seems to be that Congress will not renew the tax credit. I’m torn between wanting our country to pursue responsible fiscal policy and reducing the national debt, and wanting this tax credit to continue as I’ve seen first-hand the effect it’s had on the market.
Buyers I’ve been working with are quite aware of the tax credit. It remains to be seen what happens to the market after the tax credit expires.
The good news is that we’re entering the traditional busy season in real estate, so it’s likely that the tax credit expiration will not have a measurable effect on the number of contracts given that we’re entering the spring/summer strong season. Final analysis will likely have to wait until next year.
Call or email firstname.lastname@example.org if you have any questions about the tax credit, or Boulder or Denver real estate in general.