We all know that the November and December holiday season is the make or break season for retailers everywhere.  They’re really gearing up for the holiday sales and, this year, it looks like it’s going to be pretty anemic.  On the other hand, real estate usually takes a break beginning in late October and doesn’t really start picking up again until late March or early April.  It seems no one but the most hard core home sellers and home buyers have their home on the market during the winter months.

I can understand why.  It’s cold.  It’s either rainy or snowy or sleety.  It gets dark way early. It’s also the holidays when people are thinking about Thanksgiving dinner, visiting relatives, throwing parties or just plain hunkering down.

How A Little Money Helps

This year was a little different.  Thanks to Uncle Sam and the $8,000 first time home owner tax credit, there has been lots of activity in the real estate market with lots of first time home buyers scurrying around to get to settlement before November 30th — the deadline for being able to claim the tax credit. Now the time has passed if you wanted to try and grab the $8,000.  It’s just too late in the game to find a house, get a mortgage and get to settlement. Contrary to popular belief (especially among first time home buyers) buying a home is not like going through the check out line at Wal-Mart.  It takes time, it takes mortgage companies forever to complete the verifications of employment and assets and credit history.  There is always something that gums up the works.

Will Congress Come Through For People Who Want To Buy Homes?

However, there is some movement in Congress to extend and, possibly, expand the home buyer tax credit.  I’m really not sure this is a good thing but I’m not going to look a gift horse in the mouth.  My guess, though, is that even if they do extend (and expand) the home buyer tax credit it won’t really do that much good.  You see, winter is still winter in the MD Suburbs of DC and it still gets dark way early.  It still gets cold and rainy or snowy or sleety.  And the holidays don’t disappear.

Maybe the extension of the home buyer tax credit will keep home sales from falling off the face of a cliff but I wouldn’t count on it.

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