The $8,000 Tax Credit Ends Soon.

    I’ve seen a lot of activity in the $100,000 to $150,000 range for first time buyers (and I can’t qualify the statement right now, but it appears that inventory is getting tigher in that range).  Many homes I’ve been looking at with buyers have been put under contract in the last two weeks, many “First Time Buyers” in Spokane are jumping off the fence. 

    On the other hand, Short Sales are seeing a slump in activity, namely because the time to negotiate the short sale will exceed the December 1 deadline (according to the IRS website, the transaction must be closed BEFORE 12/1/2009).

    Rumors are circulating that it could be extended and raised to as much as $15,000.  Time will tell.

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