Is The $8000 Tax Credit That Big of a Motivator

How big of a motivator is the $8000 tax credit?

With interest rates being low and prices on homes being low what does the $8000 tax credit do for a buyer? What have your buyers been saying?  Is this their number #1 motivator?

My first time home buyers really want this $8000.  This is a big paycheck for anyone. Its free money that if that incentive does not change will be gone on Nov. 30th.

Buyers are out there trying to get this money. When a listing comes in at a LOW LOW price from a bank. Promptly 5 -15 offers come in.  So that means 4-14 buyers don't get the house and they wait for the next one. Thus, the competition for the $8000 tax credit is massive.  Nov. 30th is closer then you think. 

Will buyers stop buying when the tax credit disappears?  I don't think so.  It might make it easier to get an offer through.  All in all I feel the tax credit is a big factor in the multiple offer situations we see!  How do you feel?

Chuck Carstensen

RE/MAX ASSOCIATES PLUS

612-290-3809

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