Over the Top Incentives for Buyers in Today’s Real Estate Market

If you are looking to buy a home today, you pretty much know that there are bargains almost in every corner. You as a buyer have the upper hand because there are many homes to choose from. Homes from sellers who simply are looking to move out of the area, others desperate to sell before their ARM loan adjusts and others because they are about to loose their home in Foreclosure and are trying to sell it as a Short Sale.

In addition to benefiting from the increase of inventory in homes for sale, you may also benefit pretty soon from the actions the Federal Reserve took on Wednesday

So how much power do you have as a buyer in today’s Real Estate market compared to previous years?

Well, let’s just say that you are now sitting on the driver’s seat of this Real Estate market……….seriously; you are now literally sitting on the driver’s seat.

According to Sam Benson from Coldwell Banker in Walnut Creek California, one of his colleagues is offering a free Mercedes Benz when you finalize the purchase of a $1million plus home located in Walnut Creek, California.

It is crazy to think that sellers or agents would offer this type of buyer incentives but the reality is that it is happening in many other parts the US.

As Sam explains, and I agree with him, it would be much more beneficial for the buyer to negotiate the price down $60,000+ rather than buying the home at the list price and accept the Mercedes Benz.

By lowering the purchasing price $60K+ you not only lowering you property tax basis approximately $750 per year but you could also lower your mortgage monthly payment significantly as well.

A much better and helpful incentive for buyers would be to offer them the “No Mortgage Payments Up To Six Months” (PDF file) program rather than a luxury car.

This program offers buyers a way to save extra cash to purchase new furnishings or apply the savings to building equity.