Comments on: San Carlos Inventory Shrinking Fast http://sancarlosblog.com/2009/11/san-carlos-inventory-shrinking-fast/ The 411 on the 070 Mon, 06 Feb 2012 15:53:27 +0000 hourly 1 http://wordpress.org/?v= By: Bob Bredel http://sancarlosblog.com/2009/11/san-carlos-inventory-shrinking-fast/comment-page-1/#comment-9566 Bob Bredel Mon, 09 Nov 2009 14:46:38 +0000 http://sancarlosblog.com/?p=664#comment-9566 Hi Waitaminute, That is exactly what is happening. In fact, look for two homes that were slightly underpriced in SC at exactly 799k, to go sale pending today. A possible credit did factor into both. Bob Hi Waitaminute,

That is exactly what is happening. In fact, look for two homes that were slightly underpriced in SC at exactly 799k, to go sale pending today. A possible credit did factor into both.

Bob

]]> By: waitaminute http://sancarlosblog.com/2009/11/san-carlos-inventory-shrinking-fast/comment-page-1/#comment-9563 waitaminute Mon, 09 Nov 2009 09:33:11 +0000 http://sancarlosblog.com/?p=664#comment-9563 Bob Just read that the new version of the law, while increasing the income limits to 225K for joint, adds a new limit on the house price of 800K. Should make for some intesting negotiating on houses that are right around that number 799K will be a popular price Bob

Just read that the new version of the law, while increasing the income limits to 225K for joint, adds a new limit on the house price of 800K.

Should make for some intesting negotiating on houses that are right around that number 799K will be a popular price

]]> By: Bob Bredel http://sancarlosblog.com/2009/11/san-carlos-inventory-shrinking-fast/comment-page-1/#comment-9534 Bob Bredel Sat, 07 Nov 2009 03:59:48 +0000 http://sancarlosblog.com/?p=664#comment-9534 Yes, you have a fair point. To be clear, I am not saying that the tax credit is the only reason for dwindling inventory, but it is a factor. I say this based on two reasons: (1) what I have witnessed with my own clients and (2) what I am hearing from other realtors in San Carlos. For instance, just in the last week I have had two buyers enter contracts in San Carlos where the final price was 800k or lower and both groups will be eligible for the credit. Again, it's not the main incentive, but it does figure into the thought process. Thanks for the post, Bob Yes, you have a fair point. To be clear, I am not saying that the tax credit is the only reason for dwindling inventory, but it is a factor. I say this based on two reasons: (1) what I have witnessed with my own clients and (2) what I am hearing from other realtors in San Carlos. For instance, just in the last week I have had two buyers enter contracts in San Carlos where the final price was 800k or lower and both groups will be eligible for the credit. Again, it’s not the main incentive, but it does figure into the thought process.

Thanks for the post,
Bob

]]> By: waitaminute http://sancarlosblog.com/2009/11/san-carlos-inventory-shrinking-fast/comment-page-1/#comment-9531 waitaminute Sat, 07 Nov 2009 03:19:13 +0000 http://sancarlosblog.com/?p=664#comment-9531 Bob The limit is changed from 150 to 225 as of houses closed after Nov 6. So the change couldnt have any effect on sales thus far. How many first time buyers are bought 800K houses on less than 150K income? Because that was the limit until today, Your claim was that teh credit pumped up sales, and "What tax credit" noted that given the income limit, the first time buyer limit and the price of houses in San Carlos, its likely had minimal effect on sales to date. Your response refers to future events - eg the extesion and the increase in income limit. So I think What Tax Credit is right on Bob

The limit is changed from 150 to 225 as of houses closed after Nov 6. So the change couldnt have any effect on sales thus far.

How many first time buyers are bought 800K houses on less than 150K income? Because that was the limit until today,

Your claim was that teh credit pumped up sales, and “What tax credit” noted that given the income limit, the first time buyer limit and the price of houses in San Carlos, its likely had minimal effect on sales to date. Your response refers to future events – eg the extesion and the increase in income limit.

So I think What Tax Credit is right on

]]> By: Bob Bredel http://sancarlosblog.com/2009/11/san-carlos-inventory-shrinking-fast/comment-page-1/#comment-9524 Bob Bredel Fri, 06 Nov 2009 15:48:18 +0000 http://sancarlosblog.com/?p=664#comment-9524 New to San Carlos, Thanks for your post. Unfortunately, though, you are not posting accurate information. First, legislation was just passed whereby the income limit was raised to $225,000 for joint filers. Second, this credit was also just extended for six months into 2010. Maybe you do not believe that $8,000 back on an $800,000 home is a fantastic credit, but I can assure you that many in San Carlos do. Bob New to San Carlos,

Thanks for your post. Unfortunately, though, you are not posting accurate information. First, legislation was just passed whereby the income limit was raised to $225,000 for joint filers. Second, this credit was also just extended for six months into 2010. Maybe you do not believe that $8,000 back on an $800,000 home is a fantastic credit, but I can assure you that many in San Carlos do.

Bob

]]> By: what tax credit? http://sancarlosblog.com/2009/11/san-carlos-inventory-shrinking-fast/comment-page-1/#comment-9520 what tax credit? Fri, 06 Nov 2009 09:25:54 +0000 http://sancarlosblog.com/?p=664#comment-9520 Okay, I'm a bit (actually more than a bit) tired of hearing about the great tax credit for first time home buyers. This credit phases out based on income and is ZERO if your household income is greater than 150K. And, given the home prices in San Carlos, I'm guessing that many buyers need a HHI of 150K to afford houses and to qualify for mortgages. I really wish that all the real estate agents would be a little more honest about this supposedly fantastic credit. Okay, I’m a bit (actually more than a bit) tired of hearing about the great tax credit for first time home buyers. This credit phases out based on income and is ZERO if your household income is greater than 150K. And, given the home prices in San Carlos, I’m guessing that many buyers need a HHI of 150K to afford houses and to qualify for mortgages. I really wish that all the real estate agents would be a little more honest about this supposedly fantastic credit.

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