Home buyers everywhere are hurrying to get in under the wire as the federal tax credits come to an end.
In California the rush has turned into something of a stampede. Some buyers were trying to qualify for both the federal credit and a $10,000 state credit that kicks in Saturday.
“I am looking at properties almost constantly, and it is just kind of a feeding frenzy right now”, says one home shopper tells the Los Angeles Times. According to Rick Hoffman, president of Coldwell Banker Residential Brokerage in San Diego and Temecula Valley, the stimulus had worked and buyers are confident that we have seen the bottom of the real estate market and that we are on the way back up.