Active Rain January 10, 2010

A Broker and Attorney on the Home Buyer Tax Credit

Lester Kravitz is a broker based in Pelham, NY and a respected colleague. He’s also an attorney, but I don’t hold it against him. Ann likes him because they are both Stuyvesant High alums. This is a video of a brief talk Lester gave on the home buyer tax credit that I feel is informative and worthwhile. This NOT centered on the $8,000 first time buyer credit, but rather the $6500 move up credit for people who already own. This part of the law stimulus is under discussed in my view. In both cases, I am seeing buyers clearly motivated by the finite window of time they have to take advantage. Just yesterday, a co op buyer shared with me that the tax credit was a large part of her motivation to find and close on something as soon as possible. 

This is a crucial distinction in my view; skeptics say that buyers will buy anyway. It isn’t about them buying eventually, it is about getting them to buy NOW, to get the market going again this year.