Yesterday I closed on a listing that was in East Falmouth-a cute Cape in a nice neighborhood of Ashumet Valley Estates. The economic stimulus has had a positive effect on real estate and in this case it helped both the Buyer and the Seller!
The Buyers-a lovely young couple who are schoolteachers bought the house, and will utilize the extended First Time Buyer Tax Credit. I suspect (they were not my clients) that they will reimburse themselves for expenses associated with the purchase, and maybe even buy some new items for the house.
The Sellers are moving out of state to new jobs, and their purchase is likely to be in time to qualify for the Tax credit for homeowners who are selling a home they have occupied as a primary residence and buying another.
Without these incentives, the transaction may not have come together-the house was listed by another agency earlier in the year, and little activity. I listed it in August, and it seemed like properties on Cape Cod in the 'First Time Homebuyer' range were really selling well. Also, we were seeing an uptick in Second Home Buyers purchasing on Cape Cape Cod. In fact, we had several interested parties from each category. A couple of offers were very low, and not able to be successfully negotiated, as the Buyers were reading Media reports of lack of activity and low list to selling price rations. With patience, and effective marketing, this house found its perfect Buyers in November, and may not have been able to sell prior to the original expiration of the Tax Credit.
We ended up with Happy Sellers and Happy Buyers for this Cape Cod home in Falmouth, and look forward to seeing continuing momentum in 2010-the signs are postive! ?For details on the Tax Credit click on the link below, or call for a hard copy, email or fax for details on this wonderful benefit.
tax_credit_indformation_sheet.pdf (71.34 kb)
Happy Holidays
Deb Schilling
Photo of Association beach on Ashumet Pond-if you own in this neighborhood, you would have rights to this find freahwater beach.
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