This was an end of the month surge in closings. Many people wait until the end of the month to close because the out of pocket costs to the buyer are lower at that time. That is why the last week of the month is almost always higher in closings.
We had a lot of new listings hit the market as well, but with the pendings, closings and expireds the inventory dropped this week. At this rate it looks like we will not top 1,000 this summer after all.
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If you are planning to get in on the first time home buyer incentives of an $8,000 tax rebate you will need to jump soon. The deadline is November 30, 2009. That means that you have to close by that time. People that were planning to have a house built to close by that time have just about waited too long. But it’s not too late for one that is already up.
Give me a call or send me a note if you want to find out about houses that qualify for both the $8,000 tax rebate AND the $7,500 energy rebate. We have several buyers in those two programs now. They will receive over $15,000 after closing to put against their mortgages…or to just put in the bank.
Based on information from AK MLS, Inc. for the period but not compiled or published by AK MLS, Inc. Data maintained by AK MLS, Inc. may not reflect all real estate activity in the market.