Colorado Springs Realtor - Cherise's Blog: Housing Market Incentives Emerging

Housing Market Incentives Emerging

From a CNBC story titled: "Homebuyer Tax Credit Ends, But Other Incentives Emerge"

"The expiring credit—which gives first-time homebuyers and some current homeowners a tax credit of up to $8,000 if they sign a contract by midnight tonight (last day of April) and close the sale by June 30—has been widely viewed as helping boost home sales in recent months. For that reason, some real estate firms are pushing home sellers to offer incentives of their own, usually by agreeing to refund some of the purchase price to the buyer. Some developers are offering similar refunds to buyers of new homes or condos."

AND...

"One of the larger companies pushing the new incentives is Coldwell Banker, a subsidiary of the global real estate giant Realogy. It is asking sellers to participate in a program that will give buyers 3 percent off the agreed-to sale price, up to a maximum of $8,000. The program will run from May 1 through July 31."

Regarding the refund strategy, I appreciate the innovative efforts to keep the momentum alive in the real estate market. However, IPC’s (Interested Party Contributions), concessions, incentives, buybacks, etc. must be closely scrutinized on the HUD and fully comply with underwriter and regulatory standards. In a nutshell for our Colorado Springs Realtors, be careful and make sure you are in full compliance.

Feel free to contact our Colorado Springs Realtors at Selley Group Real Estate, LLC:

2139 Chuckwagon Rd, Ste 210 - Colorado Springs, Colorado 80919 - 719. 598. 5101

Comment balloon 9 commentsCherise Selley • May 26 2010 12:10AM

Comments

Hey what are you guys doing up this late?  I am up and trying to get my mind calm so I can sleep. 

Posted by Paula McDonald, Ph.D., Granbury, TX 936-203-0279 (Beam & Branch Realty) over 10 years ago

Trying to keep my husband away from Nicole on Dancing With The Stars. LOL... Sorry about your long-drawn out day.

Posted by Cherise Selley, Colorado Springs Realtor (Selley Group Real Estate, LLC) over 10 years ago

Cherise, interesting idea. and why not if the Seller is all agreeable. have not seen or heard of it here in Phoenix.

Posted by Bryan Watkins (LRA Real Estate Group) over 10 years ago

Cherise, Great blog. I think, Nicole will appear on "Goodmorning America" tomorrow.

Posted by John Pusa, Your All Time Realtor With Exceptional Service (Berkshire Hathaway Home Services Crest) over 10 years ago

Cherise I love the photo! That is a really good one...where did you get it?

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) over 10 years ago

Cherise, we will just have to wait and see on this one. So far, sellers in this area are not doing it.

Posted by Rebecca Gaujot, Realtor®, Lewisburg WV, the go to agent for all real estate (Vision Quest Realty) over 10 years ago

I haven't seen any of this yet......so far the market here is very active in spite of the fact the deadline to qualify for the tax credit has passed by.

Posted by Ann Allen Hoover, CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL (RE/MAX Advantage South) over 10 years ago

Our market has stayed steady too - I am hoping that buyers realize there is great inventory, phenomenal interest rates - and that if they want to own a house (& can get approved for a loan) - that  now's the time!  I didn't really see that many people who were buying solely because of the tax credit anyway - they certainly appreciated it as a bonus and may have hurried up their timing to take advantage of it, but they already had decided they wanted to be home owners - and that they still can be!!

Posted by Nancy Conner, Olympia/Thurston County WA over 10 years ago

Nancy,

I appreciate your optimism about the market.  Because there are some real gaps of great opportunities as well here in Colorado.

Posted by Cherise Selley, Colorado Springs Realtor (Selley Group Real Estate, LLC) over 10 years ago

Participate