What are you doing for the 4th of July?

The talk around the office is that everyone is taking off some time this 4th of July weekend.  The market has been good for us and we have all been working very hard, especially to get those sale contracts signed before the April 30th deadline and then to get them closed by June 30th so the buyers could take advantage of the Tax Stimulus.

The market has definitely slowed down and we are now in our summer mode.  Our market does this every year as we approach the 4th of July.

Some agents that I know are going camping.  There is the comforable full amenities way of camping by using a motor home or there is the “rough-it” way using a tent and cooking over a grill or campfire.

Then there are the locations to camp at.  You can drive to the Adirondacks for some awesome camping sites, or a shorter drive to areas camps, such as Stony Brook or Letchworth State Parks.

Other agents are heading are heading to the lakes.  This could be Charlotte Beach on Lake Ontario, or it could be Canandaigua Lake or Conesus Lake or one of the other Finger Lakes.

Others are staying home and catching up on some projects arond the house or gardens.  The only thing to be aware of is the hot temperatures we are going to have!  The weather forcast is calling for mid-nineties!  For us this is hot!!

I just got a call from a customer to show him a house that recently came on the market.  I’m sure other agents like myself are working in between taking some time off.

Either way, remember those who made this National Holiday possible and why we are celebrating July 4th!

On this day in 1776, the Declaration of Independence was approved by the Continental Congress, setting the 13 colonies on the road to freedom as a sovereign nation. As always, this most American of holidays will be marked by parades, fireworks and backyard barbecues across the country.

Whatever you are doing, be safe and have fun!

Great News!

We just heard yesterday that Congress has voted to continue the tax rebate stimulus for the real estate market! It still awaits the President’s signature for final approval.

Here is how it will go:

The legislation extends the availability of the tax credit to purchases before May 1, 2010. Prospective purchasers with binding contracts in place as of April 30, 2010 will be allowed an additional 60 days to complete the transaction. The credit will remain $8,000 for first-time buyers, while repeat buyers who purchase between December 1, 2009 and May 1, 2010 will be eligible for a credit of $6,500. Repeat buyers must have lived in their homes consecutively for 5 of the previous 8 years. Income limits are expanded to $125,000 on a single return and $225,000 on a joint return.

This stimulus has been a big factor in the activity of real estate this year and we are glad that Congress is helping in the manner.

Is the Tax Stimulus Working?

People are always asking me: How is the real estate market is? Once they know you are a REALTOR whenever they see you this question comes out. I’m not sure if they are interested in a detailed answer or a five second answer or if they are interested because they own property or a home.

Either way, I usually make it short and in most cases, put a positive spin on it because that’s just the way I am. If you know me, you know I’m a very positive upbeat person that looks on the bright side of things. I’ve always been this way!

Now, let’s get back to “How is the real estate market?” It would be good to hear from you how the tax stimulus is working in your part of the country. For Rochester, New York, it is working very well. The homes that are in the lower price range are flying off the market, getting multiple offers! It is really crazy!

From here it looks like the $8,000 tax credit is doing the trick for getting the homebuyers off the fence and into the market as first-time homebuyers. But…..we need a tax credit for the other homebuyers who are not first-time homebuyers to get the rest of the real estate market going. I believe this is what is needed to get the whole economy going with all the services that drive off the real estate industry.

So then, “How is the real estate market?” not bad, but it could be a whole lot better! Tell me how your real estate market is doing.