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Unread 04-30-2010, 06:05 PM
 
Location: Columbia, SC
6,815 posts, read 9,663,256 times
Reputation: 3365
Default Tax Credit Over

I loved the tax credit, but I hated this week. It was a lotttt of stress trying to get all the procrastinators in. I can say, at least for the short term, I won't miss it.
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Unread 04-30-2010, 06:16 PM
 
Location: Cary, NC
18,312 posts, read 26,549,825 times
Reputation: 14849
You are in a military area, aren't you?

You have a year to go yet for folks who served outside the country for 90 days or longer.
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Unread 04-30-2010, 08:03 PM
 
Location: Columbia, SC
6,815 posts, read 9,663,256 times
Reputation: 3365
You are correct. But it won't be the rush like what we had this week.
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Unread 04-30-2010, 08:09 PM
 
Location: Cary, NC
18,312 posts, read 26,549,825 times
Reputation: 14849
Quote:
Originally Posted by Brandon Hoffman View Post
You are correct. But it won't be the rush like what we had this week.
I believe the record will show that LOTS of mistakes were made this week for a lousy $8000.
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Unread 04-30-2010, 08:25 PM
 
Location: Columbia, SC
6,815 posts, read 9,663,256 times
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Surprisingly, I didn't get a single ratified contract this week where I represented the buyer. I had too much going on to try to take on new clients. The buyers I was working with were well informed and were already under contract if eligible for the tax credit. As rough a month as April was, those 14 closings I have scheduled for May will be awful nice.
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Unread 04-30-2010, 08:52 PM
 
Location: Northern Virginia
257 posts, read 271,333 times
Reputation: 68
Nice work! I was unable to get one couple under contract. They said I'd have to put up with them until the end of the month and then they were taking a break. I told them they were ruining my batting average. If I had my druthers, they would have been first under a solid contract and happy by now in their new home. And they weren't craving the tax break.

Quote:
Originally Posted by Brandon Hoffman View Post
Surprisingly, I didn't get a single ratified contract this week where I represented the buyer. I had too much going on to try to take on new clients. The buyers I was working with were well informed and were already under contract if eligible for the tax credit. As rough a month as April was, those 14 closings I have scheduled for May will be awful nice.
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Unread 05-01-2010, 05:56 AM
 
Location: DFW - Coppell / Las Colinas
16,947 posts, read 14,093,314 times
Reputation: 15159
Quote:
Originally Posted by Brandon Hoffman View Post
Surprisingly, I didn't get a single ratified contract this week where I represented the buyer. I had too much going on to try to take on new clients. The buyers I was working with were well informed and were already under contract if eligible for the tax credit. As rough a month as April was, those 14 closings I have scheduled for May will be awful nice.
I'm like you, I've worked solid the last 3 weeks with people trying to beat the clock and actually have no offers or contracts to show for the work. In our area there is a real shortage of good 1st timer homes. Hopefully now we can get back to a more balanced supply & demand.

I wonder how many contracts will be written this weekend and dated April 30 ? I suspect quite a few. We had a few title companies get wise and stay open till midnight to get some extra contract in the door.

We did have 2 listings that just went under contract to 1st timers. I told my sellers we can play tough on repair issues. Buyers aren't going to walk on their tax credit unless there is very major repair issue.
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Unread 05-01-2010, 05:13 PM
 
Location: Cookeville, TN
176 posts, read 238,328 times
Reputation: 132
Oh dear me, the last month has been insane!! I'm a newer agent (wonder at one point you quit saying that??) and have been learning by baptism by fire! In the last three or four weeks, I had my first closing, and have negotiated four contracts (each getting the tax credit) plus two others that fell apart - had about a million dollars worth of business slip through my hands one of those weeks (did get part of that back, long story). What amazed me is someone making an offer on one of my listings at 1pm yesterday with a deadline of 9pm that night... sheesh!! There have been about eleventy billion other crazy things that have gone on that aren't directly tied to the tax credit, but probably stem from the stress of it all.

Unless my business comes to a screeching halt this week, I'll be thankful to see it go -- ask me again in a month or two

I did get an offer on something else today, which I thought was interesting...
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Unread 05-01-2010, 08:21 PM
 
3,312 posts, read 4,018,787 times
Reputation: 1933
All I'm saying, is that I'm going to be flush with cash the last week of May.

Drinks on me, people!

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Unread 05-03-2010, 06:04 AM
 
Location: WNY
1,049 posts, read 2,295,159 times
Reputation: 234
Well I for one, am sad that it ended, but let's be realistic, if it went till May 30th, all our business last week would have been the last week in May, not April.
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