As the surge of buyer activity draws closer and closer to the expiration of the Federal tax credit, the source of buyer-friendly programs has begun to disappear.  The popular USDA Rural Developement Loan program, a 100% financing program, announced March 10, 2010 that it expected to be depleted of funds by the end of April, nearly 6 months away from the end of its fiscal year, and the appropriation of more funds.  Locally, the Charles County Neighborhood Conservation Initiative (NCI), also recently announced funds had been depleted for its agressive down-payment assistance program for the purchase of Bank-owned properties.

With the upcoming exipration of the tax credit, and many loan programs that have run out of funding, there lies a great uncertainty of what will take place in the housing market beyond the 2nd quarter. 

On a side note; Year to date in Charles County, prices are down from this time last year more than 11%.