Dons' musings about O Fallon Mo : So Why The Clock AND Is It The Right Time? Which clock should be used?

So Why The Clock AND Is It The Right Time? Which clock should be used?

So Why The Clock AND Is It The Right Time?  Which clock should be used?

I have been using this clock, below, for some time now on my weekly market updates to draw attention to how much time is left until the $8,000 Tax Credit expires. 


Countdown Clocks

And to the best of my knowledge, right now, the Tax credit is set to expire at the stroke of midnight on November 30, 2009.

So here is my dilemma…..On Friday I was talking with a friend and managing broker from another company.  Yes we can have friends that work in other companies, but I digress.  He brings up a very interesting point and one that we need to look at when presenting this topic to our eligible homebuyers.  That is:

  1. November 30, 2009 is a Monday
  2. November 29, 2009 is Sunday
  3. November 28, 2009 is Saturday
  4. November 27, 2009 is the day after you guessed it
  5. November 26, 2009 which is a Thursday and a HOLIDAY (THANKSGIVING)

Does anyone see a possible problem here?  Or is it just me?

    • Are we considering the possibilities of potential problems with funding, to where the property has closed by the prescribed time?
    • Title companies/Attorneys can handle just so many closes in a day even if they have extra closers on hand to handle the rush and where will they come from?
    • Banks are still going to close at 5pm, maybe 6pm in some areas!
    • What about getting the wire transfer of funds in time to close before 5pm, maybe 6pm in some areas?
    • What happens if there is a change to the settlement statement that will affect the APR at the last minute?  Remember the RESPA changes that have taken effect just recently.
    • And the list could go on and on.

So should we be looking at, at the latest unless it is an all cash deal, closing on Friday November 20, 2009?  Just so we will have a little bit of a cushion in the event of a problem!

That being the case, if we figure 45 days to close on a home then this is what the clock would look like to have an accepted contract as opposed to the one above.


Countdown Clocks

 

Just sayin’………………………

 

     Linkin with Don Rogers     Follow Don Rogers

 ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Don Rogers is a licensed REALTOR® in Missouri.  I specialize in St. Charles County Missouri and have called O Fallon MO my home since 1993.  If you are looking to buy or sell or you are relocating to the area and would like information about the St Charles County MO area do not hesitate to give me a call at 314-954-6775 or if you would prefer to send me an email.

 

Comment balloon 26 commentsDon Rogers • September 20 2009 09:15AM

Comments

This is the first time I have noticed what day the 30th falls on; thanks for the heads up!

Posted by Tricia Pearson, Real Estate Broker, San Antonio/Hill Country Homes for Sale (Tricia Pearson - Pearson Real Estate - Texas Hill Country) about 9 years ago

Good Point, we always get that time crunch around the holidays but this time we have a 8,000$ tax credit on the line.  Maybe they will do a last minute extension sometime after halloween?

Posted by Justin Douglass (Benchmark Residential & Investment Real Estate) about 9 years ago

Good morning Tricia,

Thank you ma'am for stopping in and may I say hello to a young lady from my hometown.

We need to pay a little more attention sometimes to when some of these programs are slated to end.  I might add I am just as guilty as anyone.

Posted by Don Rogers, Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes (Keller Williams Realty Chesterfield) about 9 years ago

Good morning Justin,

There are a lot of peopel that are hoping that the gov't will do a last minute extension but my thought is we have to go with what we know.  Then if it changes more folks will be able to take advantage of the program.

Thank you sir for stopping in this morning.

Posted by Don Rogers, Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes (Keller Williams Realty Chesterfield) about 9 years ago

I'm so glad you pointed this out!

Love your new photo......looking sharp!

Posted by Ann Allen Hoover, CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL (RE/MAX Advantage South) about 9 years ago

Good morning Ann,

I thank you ma'am for the compliment on my new photo.  This post is something that I had not looked at until my conversation with my friend.

Thanks for stopping in.

Posted by Don Rogers, Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes (Keller Williams Realty Chesterfield) about 9 years ago

As we are quickly approaching this tax credit deadline, we really need to start paying attention to these dates. They look quite scary to me. Trying to get everything done and on time is a lot of pressure for all involved.

Thanks for the heads up Don. Buy maybe, the $8000 Tax Credit will get extended and all of our worries be have been for nothing, at least for now anyway.

And, yes, your new profile pictures looks great! Have a wonderful day!

Posted by Terrie Leighton, Reno Real Estate Agent ~ Selling Homes in Reno (Ferrari-Lund Real Estate ) about 9 years ago

Good afternoon Terrie,

It would be nice to have the tax credit extended and maybe it will.  My one concern is what if it isn't then where will buyers be?

Thank you for the compliment on the new pic....

Posted by Don Rogers, Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes (Keller Williams Realty Chesterfield) about 9 years ago

I thought this was so important I reblogged it for my local readers. :)

Posted by Ann Allen Hoover, CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL (RE/MAX Advantage South) about 9 years ago

Don, this is something Realtors really need to think about...I've reblogged to get the word out.

Posted by Rebecca Gaujot, Realtor®, Lewisburg WV, the go to agent for all real estate (Vision Quest Realty, Martha Hilton, Broker) about 9 years ago

Ann,

Thank you for helping to spread the word and reblogging this post.  BTW, I like your new photo.

Posted by Don Rogers, Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes (Keller Williams Realty Chesterfield) about 9 years ago

Rebecca,

Thank you for helping to get the word out, I appreciate the reblog.  I hope that there won't be anyone left out because they have held off too long to make a home buying decision.

Posted by Don Rogers, Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes (Keller Williams Realty Chesterfield) about 9 years ago

OUch...that's enough to put a wrinkle into the hood of my car.  Tahks for the tip.  I need to adjust a few clients thinking!!!!

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) about 9 years ago

Don, this is a great wake up call!  Something I'll bet a lot of us have not already considered.  I will definitely have to Re-Blog this tomorow!  Thanks for looking far enough into the future that we see the deadline might be sooner than we think!

Posted by Mary Douglas, REALTOR, Red Feather Lakes, Colorado (United Country Ponderosa Realty, Red Feather Lakes, Colorado) about 9 years ago

William,

That will put a wrinkle in a lot of places, your hood could be just one of them.  You're welcome.

Posted by Don Rogers, Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes (Keller Williams Realty Chesterfield) about 9 years ago

Good afternoon Mary,

Thank you ma'am and I hope that it will be seen by many.

Posted by Don Rogers, Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes (Keller Williams Realty Chesterfield) about 9 years ago

Sounds like we better get them closed by the 25th to be sure. Hate to have it get to close and miss the date.

Posted by Terry & Bonnie Westbrook, Westbrook Realty - Grand Rapids Forest Hills MI Re (Westbrook Realty Broker-Owner) about 9 years ago

Terry,

I am thinking that there is no time like the present to get things done.  Those that wait too long will wind up missing out.

Posted by Don Rogers, Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes (Keller Williams Realty Chesterfield) about 9 years ago

ToulaRosebrock,com

Hi Don:

Good point!!!

Then figure in some last minute delays too...

Time is running out!

Posted by Toula Rosebrock, Broker/Sales Associate, Realtor, Lacey Township, (Diane Turton, Realtors, Forked River, NJ) about 9 years ago

Don - As always, you add another dimension to the conversation.  It is going to be a mess the last week of November.  If agents aren't using some disclaimer language in their buyer's agency agreements, it would be a good time to take a second look.

Posted by Ryan Shaughnessy, Broker/Attorney - Your Lafayette Square Real Estate Partner (PREA Signature Realty - www.preasignaturerealty.com) about 9 years ago

Good evening Ms. Toula,

These two clocks have gotten some attention today.  All I can say is thanks to my friend for taking the time to talk to me on Friday.

Posted by Don Rogers, Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes (Keller Williams Realty Chesterfield) about 9 years ago

Mr. Ryan,

Now that is another dimension to this whole topic.  You are so right sir about the last week of November.  I think that too many agents are thinking that there is going to be an extension, I am not to sure there will be.  So either way we need to be moving with the facts and only the facts.

Posted by Don Rogers, Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes (Keller Williams Realty Chesterfield) about 9 years ago

Don, like anything else cooked up by the Federal Government to help us, this is not simple!

Posted by Patricia Kennedy, Home in the Capital (RLAH Real Estate) about 9 years ago

Good morning Pat,

It does make you wonder doesn't it.  You would think that they sit around and think of ways to complicate things.

Posted by Don Rogers, Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes (Keller Williams Realty Chesterfield) about 9 years ago

Don, what a great post and I love the countdown clocks!  Count me in for another re-blog!

Posted by Debra Kukulski, Broker Associate, SFR,CDPE;GRI;ABR;e-PRO Realtor, Northern IL (RE/MAX Unlimited Northwest) about 9 years ago

Debra,

Thank you for the reblog and for stopping in today for a visit.

Posted by Don Rogers, Realtor, Broker, CDPE, GRI, OnullFallon MO & St Charles County MO homes (Keller Williams Realty Chesterfield) about 9 years ago

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