I am going to make a prediction. Yes I really am the illegitimate child of Nostradamus 14 generations removed!. Or at least some one who watch the amazing Karnak on Johnny Carson. Here it is . Many, many, many, buyers are going to get shut out on the 8k credit because they are going to wait till the last minute. Closing attorneys and banks are going to be even more backed up in this rush and the deadlines are going to be missed. Unless of course the government extends. But the crystal is cloudy on this subject. So tell the fence sitters come September 30 days may not be enough time to close if you are getting a loan.
I see it coming
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Charlie Ragonesi All Mountain Realty Big Canoe and Mountain Blog
On line at www.allmountainrealty.com Call at 706 579 1098
Charlie.....I predict that you will be right in your predictions. Unfortunately.
Charlie, I just wrote a blog on the same subject of the danger of missing the $8,000 tax credit deadline. Just because the credit lasts through November doesn't necessarily mean a late transaction will get processed in time to be eligible.
I think you are going to be right. I've heard from more than a few first time home buyers that think there is going to be a better government deal than the 8,000. They say well last year is wasn't 8,000 and it had to be repaid. Next year's version will be better...I just don't see it coming.
Ok to offer another prediction? I believe the current administration will extend the credit for another year. It has been a very good start for relieving some of the inventory pressure (combined with FHA) and most economists point to next year as a turning point. I predict it returns for 2010!
I'm with John. My prediction is that they will extend it.
I would not bet my $8,000 on it being extended. I will bet with you that more will miss out because of their procrastination and will be very unhappy homebuyers. I have blogged my heart out about this and time to rewrite more. The days are getting shorter. Loans are taking longer and so are appraisals. Me thinks the Great Karnack would be right with you Charlie on this one.
I've heard JC's hat is under lock and key in a very private undisclosed location. But if we can find it, you get it because you just made a prediction that GK would approve of. Kate Ford
Hi Charlie:
You insight is amazing!
I believe that you are absolutely correct.
Charlie,
I'm betting on an extension, but I'm a lousy gambler...!!! Thanks, Fran
I'm afraind your soothsayer knowledge is right on the money my friend.