What We're Hearing

The April 30 deadline is fast approaching for consumers to sign a purchase contract allowing them to get a huge tax break for buying a home -- especially if they happen to be a first-time buyer and not just a "move up" customer. And with all this focus on meeting that deadline, it stands to reason that third-party vendors that serve the mortgage and Realty industries must be overwhelmed. One of my colleagues at National Mortgage News who's been searching for a home reports this: "My Realtor said there are so many people scrambling to meet the deadline that it's impossible to get an appointment with a home inspector. They're all booked solid. She's also seeing a rush of foreclosures that were short sales -- short sales that had multiple offers but the banks dragged their feet for so long the buyers gave up and found another house." My colleague is looking for a home in the suburban Washington, D.C., market which is one of the healthier markets in the nation...