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).
Jim Gillespie, president of Coldwell Banker was recently interviewed on Fox Business news and he said alot of great stuff (you can watch the video from the link below or just click play on the YouTube.com version under the link). In summary he suggests two things: