Pending Homes Sales Down in May after Tax Credit Deadline Passes
6/2/2010
WALTHAM, Mass. – June 2, 2010 – The Massachusetts Association of REALTORS® (MAR) reported today that the number of single-family homes put under agreement in May were down 3.0 percent over the same time last year, while condominiums were down 6.0 percent.  May is the first month since July 2009 that the number of both single-family homes and condominiums put under agreement has decreased compared to the year before.
 
“The decrease in pending sales in May is direct result of buyers making a final push to get homes put under agreement prior to the April 30 tax credit deadline,” said 2010 MAR President Kevin Sears, broker/co-owner of Sears Real Estate in Springfield.  “While we would have liked to have seen increases in pending sales in May, low interest rates and more affordable prices continue to be the foundation for a stable market.” 
 
The number of single-family homes put under agreement in May was down 3.0 percent compared to the same time last year (4,802 homes in 2009 to 4,663 homes in 2010).  On a month-to-month basis, single-family homes put under agreement were down 16.4 percent from 5,580 homes in April.  
 
The number of condos put under agreement in May was down 6.0 percent compared to May 2009 (2,025 units in 2009 to 1,894 units in 2010).  On a month-to-month basis, condos put under agreement were down 17.4 percent from 2,292 units in April.

North Andover, MA real estate update - Merrimack Valley Real Estate Update on the $8,000 tax credit for homebuyers.
I have been getting a lot of questions lately on the homebuyer tax credit so I thought I would take a moment and give everyone an update.  The clock is ticking on the $8,000 credit AND there is still time to take advantage and qualify for this opportunity.  Here are the revised criteria:

Home Buyer Tax Credit Revised in November 2009

First-time Buyer - Amount of Credit	$8,0 00 ($4,000 married filing separate)
First-time Buyer Definition of Eligibility	May not have had interest in a principal residence for 3 years prior to purchase
Current Homeowner - Definition of Eligibility	Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
Deadline for Tax Credit	Purchases after April 30, 2010 (Binding contract must be written by this date.  Purchaser has until July 1, 2010 to close on the property.)

There are some additional income and property purchase price limitations.  Give me a call of shoot me an email for details.  Don't hesitate.  Interest rates are at an all time LOW and will be going up, home prices have never been more affordable and the tax credit will be going away SOON.  Don't miss this historic opportunity to capitalize on your real estate investment.   SEARCH FOR ALL MLS PROPERTIES IN MA AND NH today and find your perfect home.
Mark Gracy - Your Real Estate Resource in the Merrimack Valley
(978) 861-4016    (tel &fax)      Visit our website for FREE Homebuyer reports

North Andover, MA real estate update - Merrimack Valley Real Estate Update on the $8,000 tax credit for homebuyers.
I have been getting a lot of questions lately on the homebuyer tax credit so I thought I would take a moment and give everyone an update.  The clock is ticking on the $8,000 credit AND there is still time to take advantage and qualify for this opportunity.  Here are the revised criteria:

Home Buyer Tax Credit Revised in November 2009

First-time Buyer - Amount of Credit	$8,0 00 ($4,000 married filing separate)
First-time Buyer Definition of Eligibility	May not have had interest in a principal residence for 3 years prior to purchase
Current Homeowner - Definition of Eligibility	Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
Deadline for Tax Credit	Purchases after April 30, 2010 (Binding contract must be written by this date.  Purchaser has until July 1, 2010 to close on the property.)

There are some additional income and property purchase price limitations.  Give me a call of shoot me an email for details.  Don't hesitate.  Interest rates are at an all time LOW and will be going up, home prices have never been more affordable and the tax credit will be going away SOON.  Don't miss this historic opportunity to capitalize on your real estate investment.   SEARCH FOR ALL MLS PROPERTIES IN MA AND NH today and find your perfect home.
Mark Gracy - Your Real Estate Resource in the Merrimack Valley
(978) 861-4016    (tel &fax)      Visit our website for FREE Homebuyer reports

North Andover, MA real estate update - Merrimack Valley Real Estate Update on the $8,000 tax credit for homebuyers.
I have been getting a lot of questions lately on the homebuyer tax credit so I thought I would take a moment and give everyone an update.  The clock is ticking on the $8,000 credit AND there is still time to take advantage and qualify for this opportunity.  Here are the revised criteria:

Home Buyer Tax Credit Revised in November 2009

First-time Buyer - Amount of Credit	$8,0 00 ($4,000 married filing separate)
First-time Buyer Definition of Eligibility	May not have had interest in a principal residence for 3 years prior to purchase
Current Homeowner - Definition of Eligibility	Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
Deadline for Tax Credit	Purchases after April 30, 2010 (Binding contract must be written by this date.  Purchaser has until July 1, 2010 to close on the property.)

There are some additional income and property purchase price limitations.  Give me a call of shoot me an email for details.  Don't hesitate.  Interest rates are at an all time LOW and will be going up, home prices have never been more affordable and the tax credit will be going away SOON.  Don't miss this historic opportunity to capitalize on your real estate investment.   SEARCH FOR ALL MLS PROPERTIES IN MA AND NH today and find your perfect home.
Mark Gracy - Your Real Estate Resource in the Merrimack Valley
(978) 861-4016    (tel &fax)      Visit our website for FREE Homebuyer reports

North Andover, MA real estate update - Merrimack Valley Real Estate Update on the $8,000 tax credit for homebuyers.
I have been getting a lot of questions lately on the homebuyer tax credit so I thought I would take a moment and give everyone an update.  The clock is ticking on the $8,000 credit AND there is still time to take advantage and qualify for this opportunity.  Here are the revised criteria:

Home Buyer Tax Credit Revised in November 2009

First-time Buyer - Amount of Credit	$8,0 00 ($4,000 married filing separate)
First-time Buyer Definition of Eligibility	May not have had interest in a principal residence for 3 years prior to purchase
Current Homeowner - Definition of Eligibility	Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
Deadline for Tax Credit	Purchases after April 30, 2010 (Binding contract must be written by this date.  Purchaser has until July 1, 2010 to close on the property.)

There are some additional income and property purchase price limitations.  Give me a call of shoot me an email for details.  Don't hesitate.  Interest rates are at an all time LOW and will be going up, home prices have never been more affordable and the tax credit will be going away SOON.  Don't miss this historic opportunity to capitalize on your real estate investment.   SEARCH FOR ALL MLS PROPERTIES IN MA AND NH today and find your perfect home.
Mark Gracy - Your Real Estate Resource in the Merrimack Valley
(978) 861-4016    (tel &fax)      Visit our website for FREE Homebuyer reports

Fewer Sellers Are Cutting Prices
The prices on 19 percent of homes for sale as of March 1st have been reduced at least once, the lowest percentage in the last year, according to Trulia.com.

In October and November, when the market was feeling the effect of the tax credit, 26 percent of sellers cut their asking prices.

“Better pricing is leading to less time on the market, less price reduction, and in a lot of markets we're starting to see bidding wars on lower end properties," said Ken Shuman, spokesperson for Trulia.

Trulia calculates that these U.S. cities experienced the biggest decline in price reductions from Feb. 1, 2010 to March 1, 2010:
Charlotte, N.C.
Colorado Springs, Colo.
Houston
Raleigh, N.C.
Jacksonville, Fla.
Albuquerque, N.M.
Tucson
Omaha, Neb.
San Antonio, Texas
Source: Trulia.com (03/09/2010)

New homebuyers seminar
Buying Your Home
   
FREE Homebuying Seminar
There is still time to take advantage of the $8,000 tax credit!

Thurs March 25, 2010  6-7:30 pm
Thurs April 8, 2010       6-7:30 pm

All attendees receive $250 off closing costs with Leader Bank and
$100 off '09 tax preparation with Emond Tax and Financial

Where:  Emond Tax & Financial Group Conference Center
11 Middlesex Ave Suite 10 Wilmington MA

Details visit our home buyers page