From Leesburg, VA, Zillow user othersider2 asks in Zillow Advice:
Is the home buyer credit really helping the buyer?
I have been looking for a home to buy in the Leesburg, VA area. It seems that prices have gone up some because everybody wants to get in on the home buyer credit, and there is more demand now than there is supply. So I have to ask: if prices are going up, am I really benefiting at all from the buyer credit? I don’t think its helping me. I feel like its a trick the government is playing on us buyers to get us all excited and then buy only to find out that we paid more than we should have, even with the credit. I’m tempted to wait until the program is over to see if prices will come down some. Any advice?
Last week, we saw this same theory from orange hammer in Denver who asked, “Buy now or wait til $8000 tax credit expires?” Orange hammer felt competition was driven up in Denver due to the tax credit.
What do you think?