A lot of REO (foreclosure) agents told me that we would see a “flood” of new listings come on the market the first part of this year. Well, we are almost done with the first quarter and April 30, 2010 is fast approaching and there arent’ any listings. Why is that date important? Well, in order to get the first time home buyer tax credit of $8000 you have to be in contract by April 30 and then close by June 30, 2010. If there aren’t any listings then people can’t buy and therefore, can’t get the tax credit. Since Bank of America and Wells Fargo Bank control/own the majority of the foreclosed homes you gotta wonder why they aren’t putting them on the market. Is there some conspiracy going on here? No listings, no sales, no tax credit, saves the government a lot of money? I wish I knew but food for thought for sure. So the next BIG question is, will the government extend the credit once again? I sure hope so.