… mom's place was 2 months on the market we dropped 12K ended up only 2k lower than we expected which is a pretty reasonable market activity
Nice work. Our place is getting looked at and some other places are selling in our price range which has left us with little competition so I think we are close, and it's clear there's still some action. I think this new deal for FTHBs is going to create some more action at the entry level in the spring, which will enable other sellers to move up the ladder. But I think this is just pulling in future demand, and will simply raise prices by the amount they are giving away pretty much immediately and cause problems when it runs out.
I'm willing to bet that many will go for it…most first time home buyers would be younger people and many simply don't understand how interest and loans work. It's pretty easy to have a rosy outlook on the future when you're getting out of an overpriced rental situation, too. Desperation is a bad card to hold..
I'm willing to bet you are right, and I suspect the demand for condos in the spring will reflect this. And if you were going to buy anyway you'd be stupid not to take it.
Somehow I got through high school knowing how to differentiate an equation but never once did cost/benefit or rent/own analysis, let alone what P/E stands for (phys ed, right?).