$6500.00 Tax Credit Isn't Enough For Existing Home Owners
By David Monsour, ABR - www.realty-insights.com
(Keller Williams Keystone Realty)
$6500.00 isn't nearly enough incentive for existing home owners. When you look at the costs associated with selling even an average priced home I just don't see how this is enough money to entice anyone to sell and trade up, or downsize. Consider the costs associated with the sale of a house. In Gettysburg, PA you'll pay 1% transfer tax, 6% commission (could be more or less) at minimum to sell your house. This doesn't even take into consideration anything that might arise on a home inspection. What if you need a survey? I suppose many of you are starting to see my point. So, lets say you're saying well I could afford to spend 7% to trade up into a house considering the rates are still down. Hey great but don't forget you'll be paying closing costs on your new home as well. If you're bu...