I don’t think so. The $ 8,000 housing tax credit extension is officially no longer available to new home buyers. Also no longer available is the $6,500 credit that was the carrot for current homeowners to move up to a bigger better home. Gone, Gone, Gone.  

But I must say that I only got a last minute push from one of my buyers to try and get in under the deadline. And after some serious back and forth with the sellers we were not able to come to terms. Does this mean they give up their search and go off into the sunset. Not exactly since the credit will now be reflected as lower offers. Don’t get me wrong I had buyers that would liked to have been in contract in time to collect on $8k but when searching homes in the $450k to $550k range it’s not going to be THE deciding factor.

So will San Jose’s housing market take a fall, given that the $75 billion mortgage bailout is over. Highly unlikely seeing that the Silicon Valley Real Estate Market is and has been strong this last year.

If your still interested in buying a home give me a call!