I think we are in too deep with the government not controlling the "free market". I've yet to find something that they haven't put their greedy little paws on.

Good riddance. We don't need the government encouraging people who wouldn't otherwise buy a home to take out a mortgage that they may not be able to afford. That is how we got into this mess to start with.

I am also glad that it's over with. I believe the free market system will (as it always has) rebound stronger than ever. Although I do expect Arizona may follow in California's footsteps.

I agree Jay, I am glad it is over and lets have the free market do it's thing.

I agree Jay.

Purchasing solely on the tax credit seems ridiculous. Kinda like buying the sundae just for the cherry. It was a good PR campaign while it lasted.

As for government involvement, seems like if they let the foreclosure process take it's course (I know that's not the PC thing to say), we would get through that mess a lot quicker too. Rather, we are going to dealing with foreclosures the next 3-5 years they are saying.

I tend to agree with you Jay. It certainly pulled people forward to buy sooner, but nobody I know purchased a home solely because of the tax credit. And that's a good thing.

I will add that while consumer confidence was low it was a great prop to entice people to buy at a time when they emotionally probably would not have done so. Now that consumer confidence is improving I think the enticement is not necessary. I think that's my way of saying that although I wasn't totally on board with the extension of the tax credit, I think it probably was a good idea to prop up the market when it needed it.

I think we are in too deep with the government not controlling the "free market". I've yet to find something that they haven't put their greedy little paws on.

Good riddance. We don't need the government encouraging people who wouldn't otherwise buy a home to take out a mortgage that they may not be able to afford. That is how we got into this mess to start with.

Coldwell Banker in my area has already announced their 8k tax credit. Not really a tax credit though, sellers are paying up to 8k towards buyers closing costs. A majority of the property we sell are vacation or second homes, so the tax credit does not affect our market much. Then again if you are or were buying because of a tax credit you probably should not be buying at all.

I am also glad that it's over with. I believe the free market system will (as it always has) rebound stronger than ever. Although I do expect Arizona may follow in California's footsteps.

I am happy it is over as well. I currently have one home under contract where they are trying to close before the tax credit expires. It is a short sale, so we are not sure if it will close in time. They will still buy the house if they do not get the tax credit. If they close in time to receive the tax credit that will only be 4 houses I have sold where people were getting the credit, all 4 of them still would have bought something even if the tax credit did not exist. We are starting to see a lot more cash buyers coming out of their caves.

I agree Jay, I am glad it is over and lets have the free market do it's thing.

I agree Jay.

Purchasing solely on the tax credit seems ridiculous. Kinda like buying the sundae just for the cherry. It was a good PR campaign while it lasted.

As for government involvement, seems like if they let the foreclosure process take it's course (I know that's not the PC thing to say), we would get through that mess a lot quicker too. Rather, we are going to dealing with foreclosures the next 3-5 years they are saying.

NAR, for promoting this spectacularly wasteful program, is part of the problem, not the solution in Washington.

I tend to agree with you Jay. It certainly pulled people forward to buy sooner, but nobody I know purchased a home solely because of the tax credit. And that's a good thing.

I will add that while consumer confidence was low it was a great prop to entice people to buy at a time when they emotionally probably would not have done so. Now that consumer confidence is improving I think the enticement is not necessary. I think that's my way of saying that although I wasn't totally on board with the extension of the tax credit, I think it probably was a good idea to prop up the market when it needed it.