Peggy Doepper, regional vice president of Weichert Realtors”™ Connecticut and Westchester County region, reflected on how the window shopper was turned into a buyer after the economic bubble burst.
Q: What core strategies did the brokerage employ in 2009?
Doepper: “Credit remains available for qualified applicants and the combination of low interest rates, high inventory and the newly expanded and enhanced tax credit for first-time and repeat-buyers points to a steady and sustainable recovery as we approach 2010.
“The first-time home buyer tax credit played a significant role in the market improvement in 2009 with first-time home buyers accounting for nearly half of all sales. The tax credit also helped increase the number of sales and eased price declines in the affordable, first-time buyer market. The addition of repeat-buyers to the tax credit will now help spread the recovery we”™ve witnessed from the first-time buyer market to mid-priced and high-priced homes.
“To help buyers understand challenges and advantages of the current market, Weichert”™s buyer seminars and consumer education campaigns in 2009 were held on topics ranging from the tax credit to short sales and foreclosures. We also released helpful tips to consumers about improving credit scores, qualifying for a loan and for parents looking to help children purchase their first home.
“Through strategic partnerships with companies like RealtyTrac and TurnHere Inc., we continue to make Weichert.com a comprehensive online resource for buyers, while also increasing the exposure we can create for our agents and their listings online. We also responded to the emergence of social media in 2009. Our agents and offices utilize Facebook and Twitter to keep in contact with clients and remain accessible in the changing world of communication.”
