Still waiting for last-minute tax-credit rush

Credit not primary incentive to buy, say industry professionals

As the federal homebuyer tax credit expires across the country at midnight, the response from homebuyers has been mixed. Some brokerages are scrambling to help their buyers beat the deadline, but in many cases, there were few last-minute deals being put into contract today, said brokers and agents reached by Inman News.

"Most buyers wanted to avoid the squeeze of a last-minute house hunt and added pressure of negotiations, and thus planned and acted ahead," said Steve Wiley, owner of Smarter Choice Real Estate, in Lincoln, Neb.

Wiley said his pending sales in March and April were up 30 percent over the same time last year. His gross sales revenue saw a somewhat smaller increase, about 20 percent, he said.