In order to take advantage of that tax credit, a buyer must have entered into a binding contract by April 30, 2010, and has until the end of September to settle. According to Northampton County's real estate records, there were 626 deeds transferred in June. Although that's still 7.2% better than the same period in 2009, it's also an indication that the positive effects of that tax credit are coming to an end.
Last month is still 25% below the average June over the past ten years. Also, 33 of the 626 deeds recorded, or 5.3%, are the result of mortgage foreclosures, revealing that President Obama's foreclosure relief plan, however well-intentioned, has been a disaster. I've previously told you that 129 properties are scheduled for Sheriff Sale this coming Friday, a new County record.
Here's the raw data: June 2010 - 626 deeds; June 2009 - 584 Deeds; June 2008 - 607 Deeds; June 2007 - 808 Deeds; June 2006 - 1,083 Deeds; June 2005 - 1,013 Deeds; June 2004 - 1,041 Deeds; May 2002 - 776 Deeds; May 2001 - 835 Deeds.