We’re now in the final week of the federal home buyer tax credit, which enabled millions of home buyers to receive a credit of up to $8,000 following their home purchase. It’s been heart-warming to see this credit help and encourage so many people on their path toward home ownership. To keep momentum alive, Coldwell Banker today announced the launch of a Buyer Bonus Sales Event.
Starting May 1, 2010, home sellers participating in the Coldwell Banker Buyer Bonus Sales Event will offer a credit of 3 percent (up to $8,000), when part of an accepted offer, of their home’s purchase price to buyers who sign a contract before July 31, 2010.
Why are we doing this? We heard from over 1,700 of our agents and brokers and nearly half told us that they’d worked with buyers who would have missed out on the tax credit in November of last year had it not been extended. Additionally, 28 percent told us that the current tax credit is the primary reason their customers are currently searching for a home.
So the federal government did its part, and now we’ve come up with a private sector solution, which will bring in a new audience of buyers and encourage those who haven’t yet found a home to keep looking. To find participating homes, buyers can simply check a box on coldwellbanker.com during a home search for “Buyer Bonus Sales Event” to find participating properties nearby.
And if you have a moment, I think you will like the video we had fun making about just how far $8,000 will go (hint: you can get a lot of milk with it)! Click here or watch below and tell me what you think.
Details – details – what are the requirements and specifics as to how a seller participates in this and how a buyer qualifies, how is the credit established by the seller?
This could be real high key differentaitor between CB and all other brokers now.
I'm in competition with another broker for a listing TODAY – what can I tell me seller about this program and how it works?
NEED DETAILS RIGHT AWAY PLEASE!!!
Hi Larry. Tons of details on how Coldwell Banker offices can participate as well as stuff to help you promote it to customers is available on Coldwell Banker Works. Here's a link: http://cbworks.coldwellbanker.com/app/Content?act…
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Any chance the feds will extend the home purchase tax credit as well? I really don't think the housing market is strong enough yet to stand on it's own two feet.
Participating Coldwell Banker sellers are engaging in a private sector solution. Thus far, there has not been a groundswell of support for extending the federal tax credit. The program has had its desired effect to stimulate the economy.
[…] This post was mentioned on Twitter by Coldwell Banker, CBRB Manchester, Coldwell Banker RB, Kristine Baugh, Alice Phelps Harris and others. Alice Phelps Harris said: RT @coldwellbnkr: Blog: Buyer Bonus Sales Event Extends Benefit of Home Buyer Tax Credit – http://bit.ly/aMfvIZ […]
Participating Coldwell Banker sellers are engaging in a private sector solution. Thus far, there has not been a groundswell of support for extending the federal tax credit. The program has had its desired effect to stimulate the economy.
Any chance the feds will extend the home purchase tax credit as well? I really don't think the housing market is strong enough yet to stand on it's own two feet.
Participating Coldwell Banker sellers are engaging in a private sector solution. Thus far, there has not been a groundswell of support for extending the federal tax credit. The program has had its desired effect to stimulate the economy.
This Gimmick requires the Seller to Reduce his price by 3%
So This means while Coldwell Banker is saying the market has improved and prices are rising they want their sellers to reduce…Doesnt make sense. Unless ofcourse they are overpricing their listings and then the buyer just thinks they are getting a deal….Sneaky
[…] Credit set to expire tomorrow (April 30th), Coldwell Banker Real Estate LLC is launching its own buyer incentive program. Starting May 1st, participating sellers listed with Coldwell Banker, nationally, will be offering […]
Ok, time will tell…I work in Austin Texas as an Austin Apartment Locator , Austin never had the kind of boom that many other cities had, its been slow and steady here. With that being said there was a increase of sales for April 2010, the questions is whats next? I still think the tax credit is a good thing, what it does for housing may be debateble, some say the tax credit only makes those that will buy anyway, buy sooner. Another aspect of the tax credit is the effect on hte economy, folks that buy houses need furniture, the makers of the furniture have needs. It tends to have a much larger effect on local economies in different ways than many realize.
So it’s a year later and no more rebates and the market is flat. Maybe the fed could offer specials like small businesses. Only offer rebates in certain areas during typical slow selling seasons.