Some Real Estate Companies Replacing Homebuyer Tax Credit with Private Incentives

Some real estate companies are attempting to recreate the demand that vanished when the federal homebuyer tax credit expired on April 30, sparking a drop in pending home sales the following month.

Brookfield Homes, a homebuilder based in San Diego, launched a new initiative this week to provide referred homebuyers $10,000 in credit toward closing costs, options or upgrades. Through the program, Brookfield gives $5,000 for referrals. The homebuyer must be a first-time visitor to the Brookfield community and make the purchase before Aug. 31.

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