FSBO BLOG

Another Too Big to Fail happens today, unless the closing date, June 30th of the Homeowner Tax Credit, is extended. It’s reported over 180,000 properties that are under contrat need to close today or they all go back on the market July 1st, further increasing the inventories of homes for sale. This would be a big blow to the fragile real estate market trying to reduce inventory and get back to normal sales.

The House of Representatives on Tuesday backed by a vote of 409-5 a measure to extend the closing deadline to September 30 for buyers who already met the April 30 deadline to have a signed contract.

More news will come out today.

” The Case-Shiller 20-city Composite for home prices made a 3.8% year-over-year increase in April. An increase of 3.4% had been widely expected. The overall Home Price Index for April came in at 144.6, up slightly from the 143.4 that was registered in the prior month.”

With the huge increase in activity because of the expiring tax credits, fsbo.com has been extremely busy. We will return to updating our blog on a regular basis.