BUZZING – Slang: a feeling of intense enthusiasm, excitement, or exhilaration.
This week has seen a tremendous amount of press on the Buyer Bonus campaign Including this article in TIME.
So far we have seen more than 30 print and online stories focused on the Buyer Bonus Sales Event.
Coldwell Banker has launched its national Buyer Bonus program this week, whereby home buyers will be offered a 3% credit on a home’s purchase price — up to a maximum of $8,000 — at the time of closing.
Under the program, which will run through July 31, sellers will be responsible for providing the credit. Persuading homeowners to do this has been an easy prospect. Many homeowners will likely have to cut prices anyway as rising foreclosures and tight credit continue to pressure home prices, and sellers will likely be chasing after a smaller number of buyers now that the federal tax credit has expired. To date, more than 4,500 homeowners have agreed to offer the credit.
The state of California has launched its own $200 million tax-credit program, through which buyers will be eligible for credits of up to $10,000 against state taxes. Under the California program, directed at new-home purchases and first-time home buyers, qualifying buyers must spread the tax credit over three years. The California program will last only as long as the dedicated funding.