Now Why Didn’t I Think Of That? ~ The $250,000 Challenge

I was chatting with another agent last week who had an idea that is so incredibly simple and relevant that I was simultaneously impressed and felt like a complete bone head for not thinking of it as well!!  The first time buyer tax credit of $8,000 expires on November 30th of this year.  Yes, people are pushing to get it extended, but there are several signs that the economy is picking up so anyone who counts on that may be left out in the cold come December 1.  If a Buyer qualifies for the credit and is even remotely thinking about buying a place, then they should be looking NOW!

The $250,000 challenge is about the agent making a commitment to put $250,000 back into the community by helping first time home buyers purchase their first home and there by receive the tax credit which will be spent in the local economy.  What a great focus and mission statement!

A couple of things to know about the tax credit that much of the public may not realize:

~ A first time home buyer is defined as anyone that has not owned a home in the last 2 years
~ You can not use the credit as a downpayment or closing costs, but you can file an amended 2008 tax return to get the money back more quickly.
~ There are income requirements such that if you make over $95,000 you do not qualify for the credit, however, since you are able to file an amended 2008 return if your income would have qualified in 2008 then you can still take advantage of the credit.  Very cool!

It’s not to late to get the word out to people that you know.  Send out a postcard THIS WEEK, announcing that you are taking part in the $250,000 challenge to help first time homebuyers purchase a home and there by put money back into the local economy through the tax credit.  (If $250,000 seems like too much to you, than pick a number that you are comfortable with.)

The week after that send out another postcard directed at Sellers.  If they are thinking about selling in the next few months NOW is the time to be on the market.  September and October into the first week of November will be very busy in the Real Estate market as buyers jump off the fence to take advantage of the $8,000 tax credit.  Think that your home is too expensive to be effected?  There will be  trickle up effect as the Sellers who sell to the first time homebuyers move up to a more expensive home and those sellers are able to move up as well.

Leave a Comment





Signup to receive Nicole's blog posts via email weekly:

Other Posts

What Happens When You Don’t Take Action On Your Goals

July 11, 2025

Hint: Nothing is not the correct answer. Actual answer: The Universe takes over and decides to help. I’ve been meaning to ask for and hire more support in my business for a while now. I have a million reasons why I haven’t done it. Apparently the Universe got tired of it being on my to…

Read More

It’s Okay To Take Time Off

July 3, 2025

Tomorrow is the 4th. This is your reminder – it’s okay to take time off. Just because technology allows us to work anytime, anywhere doesn’t mean you should. Sometimes the most productive thing you can do, is to do nothing productive at all. Enjoy the day and be present. To your success! Nicole

Read More

Warning! Comparison Monster Coming Your Way

June 27, 2025

July 1st is next Tuesday, and you know what that means… Your in box is about to be flooded with emails about being 1/2 way through the year asking if you’re on track with your goals. And right about the same time, you’ll see agents posting on social media about how they just closed another…

Read More

Breathe – It’s a Contact Sport

June 20, 2025

Summer officially starts today! I live for the long days, spur of the moment dinners on the deck with friends, the warm weather, and relaxed vibe. Summer also brings its own special juggling act of navigating a shifting market, and clients that are not as focused on real estate. Side note – the market ALWAYS…

Read More

What If Everything is An Experiment?

May 30, 2025

I’ll admit it, I’m not great at asking for help. Even when I know I need it. There are a variety of reason I struggle with asking: I’m busy and taking a step back to asses what I can outsource feels like one more task I don’t have time for. The task is something I’m…

Read More

Don’t Believe The Hype

May 23, 2025

Does the market make you want to hide out? I’ve had SEVERAL calls from agents recently with clients that are putting them through the wringer. Whether it’s sellers not accepting offers, buyers taking forever to make decisions, or clients doing the exact opposite of what you thought they were going to do – managing your…

Read More

The #1 Reason Clients Don’t Choose You

May 2, 2025

Don Miguel Ruiz said it best in his book – The 4 Agreements: Don’t Make Assumptions Find the courage to ask questions Communicate with others as clearly as you can This one agreement can completely transform your life Beautifully said. Assumptions are the #1 reason your clients don’t choose you. As agents we assume many…

Read More

Letter to My Younger Self

April 11, 2025

Today is my birthday. For me, birthdays are a beautiful mix of celebration, anticipation and reflection. This post is dedicated to reflections. Things I wish I could tell my younger self. Imposter syndrome is normal! You’ve spent so much time doubting yourself. Feeling like everyone else knows what they are doing while you’re still trying…

Read More

Managing the Adrenaline / Emotional Roller Coaster of Real Estate

March 21, 2025

Closings, getting mutual on a contract, receiving a referral – there are lots of wins in real estate. Each one brings a shot of adrenaline that feels amazing. However, those moments are often short lived, with a lot of space in between. If you aren’t careful that space can fill with self doubt, insecurity or…

Read More

Why Proving Yourself Is A Bad Idea

March 14, 2025

I competed on a listing this week that I didn’t get. It was a great one too – awesome house, great clients. It was one I really wanted. When I got done pouting I took a few minutes to ask myself, ‘where did it go wrong’? Our first appointment was amazing! The second one, not…

Read More