New Script about saving $32,000.00 in the post $8,000 Tax Credit environment

Client Talking Point

Mr. / Mrs. Jones,

I understand that you were looking  to buy a home but were discouraged because you didn’t find one in time to take advantage of the $8,000 tax credit?

If you knew that you could still save $8,000 you would still be looking to move, right?

By not taking advantage of the  tax credit  you saved much more than $8,000.

Can I explain?

In March and April of  this year (2010), when the tax credit was available, interest rates were around 5.25%-5.5% on a $417,000  conforming loan.  Today… interest rates are much lower… in fact, they  are anywhere from 4.25-4.5%.  This means that you’re saving 1 full percent!

Let’s assume that today you purchased a home and took out a mortgage for $400,000, with the 1% decrease in the interest rate, the first year alone you have saved roughly $4,000.  After 2 years, you’ll have saved $8,000, the same amount of that tax credit.

Now, the best part of this is that every year, you’ll be saving $4,000! The average person stays in their home for 6-10 years. So, let’s say that you bought this home and lived in it for 8 years, you’d be saving, an  extra $32,000, four times that amount of the tax credit!

Obviously, you agree that the current low interest rates will save you a lot of money, right? These low rates won’t last forever… now is the time for you to buy. Let’s set a time to get together, which is better for you… Tuesday at 4:00p.m. or Wednesday at 6:00p.m.?

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About Lance Berwald, Coldwell Banker Burnet

I am a real estate aspirant and scholar. Always seeking to learn more about an every changing world and industry. Come and seek the truth about life, real estate and what motivates us each and every day!
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