Tax credit lures potential home buyers
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Many homes for sale in the tri-county area, like this one for sale in Capitol Heights, advertise the $8,000 tax credit available to some home buyers. (Amanda Sowards)
An $8,000 tax credit for homebuyers is driving more buyers to real estate offices in the Montgomery area, and the agents say they expect the trend to pick up speed as a Dec. 1 deadline approaches.
Realtors say their experiences so far differ, but several agreed that as the deadline nears, more people will be serious about the credit.
In most cases, a homebuyer who has not owned a home in at least three years can receive up to an $8,000 credit on his or her income taxes following the purchase of a home.
That, according to Sandra Nickel, owner of the real estate firm of the same name, is pushing more qualified buyers into her office.
"It has been fantastic," she said when asked about the reaction to the credit.
Buyers, she said, are aware of it and cite it as a main factor in their buying decisions.
