Real Stories

Couple Retires in Time to Take Advantage of Tax Credit

Jack and Barbara, a couple from Colonia, New Jersey retired to be closer to their son, buying a home in time to take advantage of the expanded home buyer tax credit. The credit was originally available only to first-time buyers, but through April 30, repeat buyers can also claim up to $6,500.

“The tax credit didn’t necessarily push us over the edge, but it certainly was the icing on the cake,” said Jack. “In fact, we didn’t find out about it until later in the process, after we had already decided to close. Our REALTOR®, Larry, went the extra mile and let us know about the credit even though the transaction was pretty much done.”

Jack also found that working with a REALTOR^® helped him learn about the current market and what prices were reasonable.

“Larry, really helped me to understand what the market was like and what I could realistically expect for my home,” said Jack. “You’re always going to think your home is worth more than it is, because of your personal attachment to it. Larry had great experience and was a hardworking man. He taught me a lot and did a good job to sell our home.”

The couple had their qualms about selling their home in what they thought to be a difficult market, but they are happy with their decision and the home they ultimately found for themselves in North Carolina.

“We knew that if we had sold three years ago, we would have gotten more for our home, but this market also gave us the opportunity to find a great patio home near a golf course that we fell in love with right away,” said Jack. “The home we bought sold for less than it might have three years ago too, so it evened out.”