Patricia Aulson, REALTOR Portsmouth NH Homes-Hampton NH Homes

I've been a Realtor for over two decades and things have sure changed.... I remember the good old days when the market was strong we Realtors always gave great closing gifts to the buyers. It's a nice gesture to show up to a closing with a gift for those that bought the house through you and perhaps you'll be remembered longer as a result of this gift. With the slow economy, I'm wondering if most of you Realtors still give a closing gift and if so what is it?How much money do you spend on a gift?

You don't need to be extravagant and in this market your pocket book may not permit the cost of an expensive gift. Remember, it's the thought that counts and showing up to the closing with a gift package celebrating "the purchase of a new home" is always a great gesture. There are lots of very nice gifts one can buy without breaking the bank. The buyer will remember you more clearly perhaps when you give a gift. In the future perhaps a referral will come your way as a result of this gesture.

Do let me know if many of you still give a gift at closing and if so what do you give as a gift and how much money do you spend? I'll be waiting by the keyboard to see what the consensus is.

Yes.....

No.....

Patricia Aulson www.patricia4realestate.com Hampton NH Real Estate Portsmouth NH Real Estate

The good news is ~

Yes, it has been approved by HUD The First Time Buyer's $8,000 tax credit, can be used toward the down payment......or the credit can be applied to the closing costs. Sounds good but I'm curious to know where the "credit is coming from?" Who is giving it to the buyer and when? I checked around and talked with a mortgage person I know and this is how I understand it.

Borrowers can use the tax credit towards the closing costs and expenses associated with buying the home. The catch is that lenders are the ones who have to give the borrowers this money. Essentially they would be buying the tax credit from the borrower. At this point there are no lenders that are willing to do this. So while banks can lend the borrowers the $8,000....at this point they are deciding on whether or not they want to.

It will be interesting to see how this plays out.....and the beat goes on!

HUD's website talks about this scenario in detail.

http://hud.com

Patricia Aulson/ www.patricia4realestate.com Hampton NH Real Estate Portsmouth NH Real Estate

Great news today from the Housing Secretary on how the $8,000 tax credit can be applied as a credit toward the down payment in excess of 3.5% of the appraised value or they can use it toward the closing costs on FHA approved homes/loans.

Check out the scoop at the follow address:

Go to this website for the complete information on how the $8,000 tax credite can be used - IRS website at http://www.irs.gov/newsroom/article/0,,id=204671,00.html?portlet7.

This will stir things up for buyers that meet the qualifications so maybe we Realtors will start to see a real flurry of buyers out there once again.

Patricia4realestate.com Portsmouth NH Real Estate Hampton NH Real Estate

I was thinking that a great good way to get the word out to the "first time home buyer" would be to make up a post card with the information about the $8,000. tax credit for those who qualified. Now since all those buyers don't know how who I am and how to find me I figured I'm the one that has to make the first move.....So, then I went ahead and made up a simple to the point are with the necessary contact information to reach me on it. Now all I have to do next is find the places where these first time home buyers are living and send out a mass mailing.

Well that's exactly what I've done. I sniffed around all those apartment buildings where most of those first time home buyers might live and sent out a mass mailing. Now all I have to do is sit back and wait for them to trickle in and when they do I've hit pay dirt !!

I'm wondering if any of you have gone ahead and tried this and if so what was the result? I'd love to hear from you so please contact me with a comment and let me know how it went. I'd appreciate it.

I'll be waiting by the keyboard....

Patricia Aulson

www.patricia4realestate.com "Experience isn't expensive....it's Priceless! Hampton NH Real Estate Portsmouth NH Real Estate

Up To $8,000* Tax Credit from Uncle Sam
If You Buy A Home This Year!

The other day I was wondering what would get more prospective buyers to visit my website @ www.patricia4realestate.com and this is what I decide to do. My own website has been "out there in cyber space for the last seven years. It has been my saving grace, so to speak. Even in the slow times, I get the majority of my business from this real estate site covering the areas I service, Seacoast NH and ME. I decided to get the word out on how to use the tax credit and so I put a very informative video about this topic.

Patricia Aulson/Realtor

Portsmouth NH Real Estate

Serving Seacoast NH & ME

"Experience isn't expensive...it's Priceless!"