Comments on: There’s some fudge in those NAR home sales numbers http://www.dougfrancis.com/2009/11/theres-some-fudge-in-those-nar-home-sales-numbers/ My real estate blog in Vienna and McLean, Fairfax and Arlington with a little humor too. Easy MLS Search too. Sun, 28 Feb 2010 22:45:33 -0500 http://wordpress.org/?v=2.9.2 hourly 1 By: Jeff Thomas http://www.dougfrancis.com/2009/11/theres-some-fudge-in-those-nar-home-sales-numbers/comment-page-1/#comment-255 Jeff Thomas Thu, 05 Nov 2009 02:55:26 +0000 http://www.dougfrancis.com/?p=1800#comment-255 The numbers are definitely stretched forteh entire country, especially Fairfax and northern Virginia where home prices have dropped to a more affordable range. The number of buyers trying to close this month will be huge. Even if the credit is extended, I would imagine the contracts have a 11/30 deadline for closing. It will be a rough month end. Jeff http://www.lending-solutions.net <a href="http://www.lending-solutions.net" rel="nofollow">mortgage rates,fairfax real estate, refinance in fairfax,Fairfax homes for sale</A> .-= Jeff Thomas´s last blog ..<a href="http://lending-solutions.net/2010-loan-limits-remain-the-same/" rel="nofollow">2010 Loan Limits Remain The Same</a> =-. The numbers are definitely stretched forteh entire country, especially Fairfax and northern Virginia where home prices have dropped to a more affordable range. The number of buyers trying to close this month will be huge. Even if the credit is extended, I would imagine the contracts have a 11/30 deadline for closing. It will be a rough month end.

Jeff

http://www.lending-solutions.net

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]]> By: Ken Montville http://www.dougfrancis.com/2009/11/theres-some-fudge-in-those-nar-home-sales-numbers/comment-page-1/#comment-246 Ken Montville Tue, 03 Nov 2009 03:04:02 +0000 http://www.dougfrancis.com/?p=1800#comment-246 I was listening to Diane Olick on CNBC earlier today and she was trying to temper the numbers with the fact that most of the "pending" home sales are the result of 1st time home buyers trying to beat the November 30th deadline. She actually thinks the October pending home sales numbers (released on December 1st) will be lower because people will not have had enough time to find a house, get a mortgage and settle by Nov. 30th. I'm not sure about that but I think you're right. If the tax credit isn't extended home sales will fall off a cliff which means home prices will have to drop to attract buyers. The fun never stops! .-= Ken Montville´s last blog ..<a href="http://blog.mdsuburbanhomes.com/2009/11/02/home-sellers-with-equity/" rel="nofollow">Home Sellers with Equity…RULE!</a> =-. I was listening to Diane Olick on CNBC earlier today and she was trying to temper the numbers with the fact that most of the “pending” home sales are the result of 1st time home buyers trying to beat the November 30th deadline. She actually thinks the October pending home sales numbers (released on December 1st) will be lower because people will not have had enough time to find a house, get a mortgage and settle by Nov. 30th.

I’m not sure about that but I think you’re right. If the tax credit isn’t extended home sales will fall off a cliff which means home prices will have to drop to attract buyers.

The fun never stops!
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