“$5,000 here, $10,000 there”

To paraphrase a *famous quote, “$5,000 here, $10,000 there, and pretty soon you’re talking about real money.”

In this case, the money consists of incentives offered to first-time home Buyers.

New home builders have been offering Buyer incentives for quite some time (upgraded finishes, discounted loans, plasma TVs, etc.). However, now government is joining the party in a serious way.

At the federal level, there is increasing speculation that the $7,500 repayable tax credit now offered Buyers will simply become a straight credit — no repayment required.

Locally, a number of municipalities are dangling increasingly fat incentives to first-time Buyers to tackle foreclosed and abandoned homes.

The leader so far appears to be Brooklyn Center, offering a $10,000 package to qualifying Buyers.

Do I hear $15,000??

*The original quote was from Senator Everett Dirksen, whose decimal place was actually billions.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.
2 Responses
  1. cbaker432

    I bought my first home this year and I’m very excited to take advantage of this credit. I bought my home through a company called Taylor Morrison, and I had a great experience with this company. I’d like to recommend them to your readers. They really helped me (a novice) through the process of buying a home, and when you request information from their website (http://dreambig.taylormorrison.com/?utm_source=bc) you’ll be entered in to a contest to win a dream vacation. This credit is a great bonus and will go towards landscaping our already beautiful home.

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