MOSES LAKE — Coldwell Banker starts a home buyers tax credit program on Saturday by offering a 3 percent reduction in closing costs, for up to $8,000.

The company touts the program as an extension of the US government’s home buyer tax credit offering, which ended this week.

“The (government’s) tax program has definitely been a boost to the market and gives people the opportunity to buy a home and gives an entitlement to have it done,” said Mark Fancher, co-owner and manager of Coldwell Banker Tomlinson Ranch and Home in Moses Lake, on Thursday.

“There’s been a lot of good activity here with the tax credit,” he noted.

But in the fall, there was a noticeable drop in sales when the first-time home buyer credit expired.

He said buying a home is the American dream and the government did its  part with the credits.

Now Coldwell Banker, with the help of motivated sellers, can offer a credit at the closing of an accepted offer, he said.

March and April were good business months.

“This is to hopefully keep the momentum going for the next few months,” he said.

“This is a program Coldwell Banker is doing to keep people thinking (about buying a home),” he said. 

The program doesn’t have restrictions on household incomes.

There is no closing deadline, but buyers must have a contract signed before July 31.

Coldwell Banker is also talking to its sellers about participating.

Homes in the program will usually have a “Buyer Bonus Sales Event” logo noted on yard signs.

According to a recent survey of Coldwell Banker agents, almost half noted they worked with home buyers who would have missed out on the government’s home buyer tax credit in November if it hadn’t been extended.

Of the agents, 34 percent stated the government extension was the primary reason their customers were searching for a home.

Also, 28 percent noted they feel the limitations of the credit will prohibit some buyers from taking advantage of it.

For more information, call 509-766-0300.