Well, we are twelve days into the real estate market without the tax credit and there is absolutely no way to make any scientific determinations. But I can tell you a few things that are true and that I have noticed.
- Looking at our showing service I can tell you that showings for the first week of May are down 48% from the last week in April. -48%!
- Our sales board at work, where I just added a fairly anemic sale, is quite thin compared to the previous two months at this time. That’s just an observation. Not a fact.
- My phone? Crickets. Well, except for the many calls regarding more docs, loan stuff and FHA repairs for currently pending deals.
As suspected, the patient real estate buyer and/or investor may be able to start to pilfer some ever-growingly-uncomfortable sellers in a very short while.