The recent expiration of the tax credit caused a halt in home sales. It appears buyers have been holding out, in hopes the government will install a new program, inducing buyers to purchase a home. Truth is, it's slim to none we will see this program again. We may see a replacement of some sort; my guess with a repayment plan, but by no means to the extreme we just witnessed. This is the most opportune time for a buyer to take advantage of the current market conditions. Historically low interest rates, coupled with rock bottom pricing, are what we would call the ideal buyers market. For those awaiting a new incentive plan, it's no telling when or if a new tax credit will be put in place.
I've recently teamed up with an agency handling relocation and housing benefits. This agency handles a network of employers that offer their employees 3% of the purchase price at closing. How do you establish if your employer is one of these 6000+ businesses? You may first consider speaking with your HR rep. It's possible they have no knowledge this benefit exists. Many employers received this benefit by joining their area chamber. Some may be thinking, 3% at closing, what's the catch? The catch is they want you to pay taxes on the money you've received. You could be a first time home buyer, a repeat purchaser or an investor purchasing his or her 10th home. You could be an intern or an executive within your company. The beauty of this program verse others is the lack of stipulations. No income barriers or limitations to first time or owner occupied homes only. For more information and to see if your employer is one of these 6,000+ businesses; contact firstname.lastname@example.org .