I am pleased to announce the launch of the Buyer Bonus Sales Event—a national promotion intended to build on the momentum of the soon-to-expire federal homebuyer tax credit.
In a recent survey of Coldwell Banker real estate professionals, nearly half indicated that they had worked with home buyers who would have missed out on the home buyer tax credit in November of last year had it not been extended. In addition, while 34 percent cite the current tax credit extension – expiring April 30 – as the primary reason their customers are still searching for a home, 28 percent said that they feel the limitations of this credit will prohibit some buyers from taking advantage of the credit.
That is why on May 1, 2010, immediately following the expiration of this government initiative, home sellers participating in the Coldwell Banker Buyer Bonus Sales Event will offer a credit of 3 percent – up to $10,000 – when part of an accepted offer off their home’s purchase price to buyers who sign a contract before July 31, 2010. There is no deadline for a closing date.
“The federal government did its part to encourage millions of Americans to achieve their dream of home ownership with the help of the home buyer tax credit,” said Jim Gillespie, President and Chief Executive Officer for Coldwell Banker Real Estate LLC. “As the credit expires, Coldwell Banker real estate is encouraging buyers who haven’t found a home yet to continue looking, while bringing a new audience of home buyers who were unable to qualify for the tax credit into the market. We are confident that this private sector solution will represent a significant step toward continued recovery of the housing market.”
“The Buyer Bonus Sales Event will allow participating Coldwell Banker home sellers to essentially extend the benefits of the credit,” said Gillespie. “Without restrictions such as household income caps, the Coldwell Banker Buyer Bonus Sales Event allows for greater participation for all homebuyers. And our sellers have a unique opportunity to allow their home to stand out from the competition in their marketplace.”
To find a participating property or to find out how your home can participate in the event, please visit www.OCViewOnline.com or contact your local Coldwell Banker agent.