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$6500 worth of chesse on top of the Tax Credit

$6500 worth of chesse on top of the Tax Credit is alot of money, however I am not sure how to sell this thing to move up buyers. I dont get many move up buyers, it seems to be buyers that buyer unproforming assets from the bank or first time home buyers. Do any realtors have any good marketing ideas out there to market to this demographic

Posted by Andrew Johnson on 11/05/2009 07:23 AM

Comments (4)

4 Comments on $6500 worth of chesse on top of the Tax Credit

NOV

Just one more thing to offer any buyers, and I believe that it is for buyers who make up to $225,000 per couple.

I love to read a great post like this one. Thanks for making it RAIN!!!

Hi Andrew,

IF the new bill gets approved, the $6500 would be helpful to anyone who qualifies and who is a current homeowner.

Think about it for a minute. The reason we are not seeing move-up buyers is because many, many homeowners who would typically sell do not have enough equity. So the move-up market has been almost non-existent.

The only people who can truly be considered move-up buyers are those who purchased before 2001 who have enough money to sell and be able to afford a down payment for a move-up home or who have more than 25% equity in their current homes and can qualify with holding both loans ( that of the move-up home and the home they will rent)

"The $6500 tax credit for move-up buyers will be able to used to :"

it could be used to replenish a sellers 401K if they needed to tap assets to be able to purchase a move-up home.
it could be used to put in savings ( security in knowing you have several months payments in the bank)
it could be used to offset the increase in monthly payment. Let's say a move-up buyer feels they are stretching a bit. And the house they really want in $200 a month more than they are comfortable with. ($6500 divided by $200= 32.5 or two years and seven months) That should help them buy the home they really want rather than settling for a home that may be too small or not meet their needs.
it could go a long way to personalizing the new home and make it yours.

NOV

Hey guys, Lots of great questions on my How to Score REO's, go to www.thebankreolist.com and check that out. I bought the list. I think it was $50 bucks. There were like 100 website and phone numbers to asset managers at banks. It is well worth it. Cost me less than a 1000 business cards. If you are a motivated Realtor, you will make money on off that list. Right now I would say 80% of my REO listings that I have came from that list in some fashion

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