Most of us probably are aware that the Homebuyers Tax Credit is about to expire at the end of this month. Many observers are predicting that the end of the tax credit will signal and end to the recent bump in real estate activity. It is true that buyers, especially first time buyers, have been very active recently trying to find a home in time to take advantage of the credit. On the other hand, there are other signs that the market will remain relatively active, at least compared to last year. Unless you have a crystal ball, it's impossible to be sure.
The overall market is one thing. As an individual, however, it is important to remain focused on your individual needs and the opportunities that the market offers. The tax credit is, barring a very unexpected development, about to become history. If you are in the market to buy and have been out looking, you should continue to be looking. There is value in the market. If you are a seller, you should seek ways to attract buyers and differentiate yourself from the crowd.
I learned a long time ago to focus on the things I can control and try not to dwell on the things I can't. Life in the real estate world in the post tax credit era will go on. The key as a buyer or seller is to keep your eye on the prize. Looking for value and differentiating yourself are the keys to getting that done.