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What is a "MOVE-UP" Buyer?

The federal Tax Credit has been a boon to the economy and the real estate industry. And with it’s extension comes more optimism. However, it may also come with more questions – from sellers and buyers. The latest tax credit expansion now includes move-up buyers who will purchase a new home in the first part of 2010. What exactly does this mean? And should you encourage your clients to take advantage of it?
“The federal tax credit was expanded to include move-up buyers who buy a new home in the first part of 2010. What is a move-up buyer, and do you need to sell your current home to qualify for the program? What are the implications of selling later in the year?
If you think that the removal of the tax incentive will reduce buyer demand, you may want to consider marketing your former home in the early part of 2010 to take advantage of stimulated buyers.”
The tax credit and it’s extension and expansion have helped homebuyers and REALTORs® considerably.



This post first appeared on Summerlin Las Vegas, please read the originial post: here

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What is a "MOVE-UP" Buyer?

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