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What will our returning Military Service Members do with all that Tax Free Money? Purchase a home? Or Purchase a Vehicle?

By Eric Anderson

Real Estate Agent with Eric Anderson Realty Group 243419

September 01, 2007 03:08 PM

Our military service personnel are in a unique position, upon retuning to the US. The military is deploying many of the units for periods ranging from 12 – 18 months. Realtors who service military personnel should be aware of the potential purchasing power of our service members. Being prior military and servicing the Fayetteville, Fort Bragg and Pope AFB region we are very aware of the economic impact to the our region. Service members who are deployed outside of the United States are not taxed during that period, and typically save a large portion of their pay for a large purchase upon their return to the United States. The responsibility of the Realtor and the Chain of command is to educate our young soldiers to invest in their future with a home (Asset) instead of in a high price vehicle that depreciates by 25% as soon as they drive off the lot. We owe it to our service members to educate them.

Eric Anderson, Team Leader
Keller Williams Realty - Fayetteville
EricAndersonNC@kw.com

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Joan Whitebook

BHG The Masiello Group - Nashua, NH

Consumer Focused Real Estate Services

I just helped a couple relocate to NH. The problem I have with VA is that they will not allow the Veteran to pay any portion of the buyer broker fee. This makes no sense in this day and age. In NH in my area fees are not split equally - or are deeply discounted. If the Veteran wants a buyer agent, they cannot pay the fee for representation. Perhaps, you can bring this to the attention of the VA. FHA conventional lenders have allowed buyer's to pay an agreed amount if the co-broke does not cover the buyer agent fee.

Sep 01, 2007 03:35 PM

John Novak

Keller Williams Realty The Marketplace - Las Vegas, NV

Henderson, Las Vegas and Summerlin Real Estate

I agree completely with an educational approach. The challenge for our military in buying a home is the uncertainty of transferring to another location. I would hate to see the cost of the sale or a flat or declining market eat up any equity gained in the first few years of ownership.

Sep 01, 2007 04:00 PM

1SG (Ret.) David Kucic

Hawaii Military Realty, Inc. - Ewa Beach, HI

President and Owner

Eric-I am glad that you posted this and maybe it will help these Servicemembers to realize what they should do with their hard earned money. I posted something quite a while back titled Buy Real Estate First Then a New Car, Truck or SUV. Different titles but the point we make is the same. Good luck to you out in NC old Soldier!

Aloha,

David Kucic RA, GRI, ABR, AHWD, e-PRO
First Sergeant, USA (Retired)
Tropic Lightning Real Estate

Sep 03, 2007 03:45 AM

Larry Wright

nwRealty.Com - Tacoma, WA

Targeting the military and VA market seems to have faded the past few years. Now it is a fundamental requirement for success. Thanks Eric.

Sep 04, 2007 04:19 AM

Gary J. Rocks

Juba Team Realty - Jefferson Township, NJ

Eric

You are absolutely correct! We as agents need to find a way to educated our returning hero's and guide them down the right path. Often these guys are just thinking of fast cars and women, we need to be able to get onto the Military Bases and offer first time buyer classes for our returning men and women and put them on the right path to financial freedom.

If any of you service men/women get to read this, we at Sussex County Real Estate Welcome you with open arms and offer first time buyer classes frequently. Just give us a call.

Sep 05, 2007 03:05 AM

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Eric Anderson

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