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View Full Version : Sheeple in PRMass pay $40k+ for $8k tax "credit" on home buys...


Enquiring Minds
July 09, 2010, 10:47
... it seems the lemmings will believe/cheer FEDGOD manipulation of the market, even as they drive themselves and their children's futures right over the cliff!

Sellers drop prices after tax credit expires... DUH! (http://www.bostonherald.com/business/real_estate/view/20100706boston_sellers_cut_prices_follows_end_to_b uyers_tax_break/?source=patrick.net)

In Suffolk County, which includes the cities of Boston, Chelsea, Revere and Winthrop, the price reduction was $43,288, or 7 percent off the listing price.

“Sellers are realizing there’s no artificial stimulus to help the market, so they’re lowering prices,” said Rick Healey, broker-owner at Foster-Healey Real Estate in Fitchburg. “The demise of the tax credit has brought a sense of reality to pricing.”

Bill Wendel, owner of the Real Estate Cafe, a buyer’s broker in Cambridge, said he has seen more buyers emerge in the wake of the tax credit’s demise.

“Savvy buyers knew the real savings would come after the artificial stimulus ended,” he said. “Lots of buyers felt that the credit was a fool’s game. They were determined not to be fooled by the credit’s come-and-get-it expiration date, and they weren’t going to be fooled into a bidding war.”



A comprehensive housing-collapse website that's worth a daily peruse:

http://www.patrick.net

blueyedfaler
July 09, 2010, 15:19
The trouble is these idiots are dragging the rest of us down, I swear I
will drop anyone who tries to climb on my back!!
Stop feeding the beast!!

XHardrock
July 09, 2010, 16:15
Originally posted by Enquiring Minds


http://www.patrick.net

Truly "savvy" buyers got both, the reduction in home costs and the tax credit.

Luckily there are still a few trickling into SC that want homes and have realized construction costs are down and it is worth getting bottom dollar for their home elsewhere.

2barearms
July 10, 2010, 08:29
People have been conditioned to do certain things, they are helpless
in the face of them.