Jim Gillespie has appeared on several shows talking about the market…. his most prominent topic of discussion is the push for a new credit for the upward home buyer, a credit for $15,000. Although I completely agree that we need an incentive to get home buyers to purchase their next stage home (a home in the next price bracket above the first time home buyer) I disagree that it should be a set $15k. I think the smartest incentive we can offer would be one based on a percentage of the home sale; this would encourage ALL home buyers in all levels of income a reason to “make a move” (pun intended).
Regardless, I appreciate that Jim is speaking out and taking a lead; the majority of transactions we’re seeing in Portland is the 1st time home buyer in the $200,000 and under range. And although you’d think the sellers of those homes would be “moving up”, I’d say that 90% of the homes I’m showing under $200,000 are vacant…. nobody is moving up if they’ve already gone. -Kristie McD. Your Portland, Oregon Realtor
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Tags: $15, 000, coldwell banker, First time home buyer, fox news, Gim Gillespie, Tax Credit