Don't feel that way -- "over a barrel," that is. Markets are always changing. One really big change this year is the return to the real estate market of the first time home buyer. This is a term that requires definition as the Government defines a FIRST TIME HOME BUYER as someone who has not owned a personal residence in the prior three years.
This year, according to the National Association of Realtors, 44 percent of home sales have been to first time buyers. That is the biggest such number since 1991. Of course, the Government's $8,000 tax credit has helped. And, there is now talk of the tax credit dead line (currently Nov. 30th) being extended, which would be a good thing, but don't hold your breath. First time buyers are about to run out of time to use the tax credit unless the time line is changed. Maybe it will happen. Let's hope so!
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