What's the results of the tax credit with Hoffman Estates Home Buyers?
I've been waiting to write this update now for quite sometime on Hoffman Estates Home Sales and to be 
honest, it sure is a let down!
Yep, an anti-climactic end to the Home Buyers Tax Credit I'm afraid.
Like a sharp object aimed at a balloon, it's a total fizzle (or as Snoop Dogg would say 'a total furrrschnizzle').
The graph illustrates sales for single family and multi-family Hoffman Estates Homes from January to June 2010. With all the media hype, I would have expected better numbers. What I see here is the standard increases that we see every year at this time. But, one caveat is that I believe the tax credit was much more valuable to multi-family buyers. Here we see a surge for the deadline but again this could also because of the time of year.
Hoffman Estates Homes showed the complete opposite of the Schaumburg Market with single family homes being a better seller than multi-family townhomes, etc. So buyer preference went for the single family.
Foreclosures and 'better priced values' have been scooped up the fastest. Short sales? Well, they fell short for our area. From working with my own buyers, short sales offer too many hassles and not enough price rewards for dealing with the banks.
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Lyn - I saw some interesting numbers this morning indicating that prices are now increasing in many areas following the end of the tax credit. Perhaps some savvy buyers were waiting to see if better deals might be available.
Looks like June is turning around for you guys. We're getting it a little later as showings have picked up in late June and continue now. I really think the tax credit just sucked the May buyers into April.
John: Possibly but I really don't see it. We are getting good showings now again but no contracts are getting written. We're in another 'shopping' phase.
John M: No price increases around here that's for sure! More like, sell your house or not with a bare bones price. Too much inventory for that.
Hi Lyn - Good to see your June was a great month. It will be scary to see how the next few months shape up. Also, Snoop Dogg should buy a home from you since you plugged him. :)