$7500 tax credit

Real Estate Agent with Plat Collective

Even with the economy as bad as it is, most of us are not getting back to the basics.  One way to try to stimulate more referrals is to call your sphere of influence.  Don't know what to say when you call?  How about talking about the new $7500 tax credit that has become available for first time homebuyers?  Many buyers do not even know that this exists!  I met with one buyer just today, whom I have been sending listings to since the summer.  I mentioned the tax credit and he wasn't aware of it.  And he is an attorney!  As a result, we are meeting tomorrow morning to write an offer on a property.  Try it.  Pick up the phone.  You may be surprised at the results!

Comments (3)

John Morrison
Buyer's Choice Realty - Ipswich, MA
Exclusive Buyernulls Agent, CBR - Boston Area Real Estate

Hope your attorney doesn't make too much money, lest he be left out in the cold on the interest-free loan the gov't is offering. You told him he has to pay it back, right?

Oct 16, 2008 12:01 PM
Bill Ladewig
LoanOfficerSchool.com - Escondido, CA
Experience Is Your Advantage

For those who are interested in how it works there is a pretty good description and quaification grid on my site at: http://www.themtgmentor.com/Tax_Credti.html


Oct 16, 2008 12:06 PM
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

As long as you also explain that the tax credit is actually an interest free loan to be paid back over 15 years of home ownership.  Make sure you read the fine print in the law and make sure your buyer understands all of the implications of the credit.

Oct 16, 2008 01:10 PM