HomeSteps, the real estate sales division of Freddie Mac, announced Tuesday it is offering cash incentives to real estate agents who list or sell HomeSteps homes in 23 states. The incentive is available between February 18, and April 15, 2014.
Home sales must be settled on or before May 30, 2014 to receive the incentive.
Severe weather caused builder confidence to stall in cold weather states, signaling a potential shift from new homes to available homes. Freddie Mac hopes the incentives will push buyers towards homes owned by the government-sponsored enterprise (GSE).
"HomeSteps' 2014 winter sales promotion is focused on firing up sales in 'cold weather' states and condominium deals everywhere," said Chris Bowden, SVP of HomeSteps. "With mortgage rates still low and home inventories tightening, the 2014 HomeSteps Winter Sales Promotion is a great opportunity for families ready to buy and real estate agents ready to sell."
Agents will receive a $1,000 incentive, and listing agents a separate $500 incentive when they sell HomeSteps homes located in the available states.
The promotion offers homebuyers a choice of incentives as well—$500 that can be used towards condominium association dues, flood insurance premiums, or a home warranty.
States available for the newly announced program include Alabama, Connecticut, Colorado, Iowa, Illinois, Indiana, Kansas, Kentucky, Louisiana, Michigan, Minnesota, Missouri, North Carolina, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Tennessee, Utah, Virginia, Washington, and Wisconsin.