Alan Sells Real Estate!: The 2010 Housing Tax Credit Vacuum ----- and what it means for 2011 Home Buyer's

Recently Graphing our local MLS market sales for the last 2 years, Two things are evident:

The Tax Credit that ended April 30th certainly was effective at grabbing Home Buyers
The 2nd Half of 2010 is in far worse shape than the market was prior to the Tax Credit

The Central West TN Real Estate Market has been in a continued slide since May/June. It dropped far below the levels we were in 2009. Meaning our beloved Tax Credit has created a huge Vacuum in the market. It pulled all the possible Home Buyers into one single time frame at the beginning of the year. It created a Vacuum in the market leaving hardly no one ready to buy a Home unless they were forced to move or relocate areas. The casual upgrade or first-time home buyer is not there because they already made their big purchase earlier in the year to take advantage of some Free Dough for Washington. I certainly don't blame them either...

So where does the market go form here? Well, that's easy ---- UP! This vacuum has run it's course and now that the holidays are hear and people are thinking of mistletoe and egg nog, the New Year is just around the corner. I see the New Year has a very promising Buyer's Market again. Once we make it thorough the Holiday Season, people will notice several things:

Strong Existing Home Inventory - Great Choices!
Unbelievable Rates - even if they go up a little, they are still Historically Low!
Desperate Sellers = Even Lower Prices!

2011 is lining up to be one of the best Home Buyers Markets in Decades - Possibly Ever. These Low Prices, Low Rates, and Huge Inventory should create a Home Buying Frenzy that puts the Real Estate Market buzzing. If there ever was a time to Buy, It will be 2011. So get ready; warm up your mouse; start burning up some internet bandwidth; and find your next Dream home. There may never be a Better Time to do so in your Lifetime than the Coming Year!