Greetings neighbors,

Wondering how the real estate market is looking these days after the expiration of the First Time Home Buyers Tax Credit? According to recent articles, the market is actually being called bipolar. Many experts feel today's market is being pulled in different directions and are unable to predict which way it will end up.

With that being said, there have been implications of an improving market with the rise of sales and prices. However, there has also been a significant increase in the rise of interest rates and home repossessions. In addition, the market is also facing millions of foreclosures that need to be sold but have not been listed. This shadow inventory could potentially cause a rift in a recovering market if they hit the market all at once.

Taking these points into consideration, many experts are predicting somewhat of a negative impact for the short term but a positive impact by the end of this year.