See below for exciting news from http://www.federalhousingtaxcredit.com/:
"A tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid."
This is REAL money! Take advantage today
NEW STATE TAX CREDIT
In addition to the Federal Tax Credit, our state of California is also providing a tax break for those that purchase a NEWLY CONSTRUCTED, PREVIOUSLY UNOCCUPIED HOME
From the California Building Industry Association's website: http://tinyurl.com/bam3m8
"The Assembly passed SB 15XX by Sen. Roy Ashburn, R-Bakersfield, which establishes a tax credit of $10,000 or 5 percent of the purchase price of a newly built home sold between March 1 of this year and March 2010, or when funding is exhausted, whichever comes first."
New home prices have been cut nearly in half, interest rates are at their lowest levels in years, and the government has stepped up with REAL tax credits!
NOW IS THE TIME TO BUY
2 comments:
Yeah, it's amazing that new home buyers can buy a new home for around $200,000 a receive $18,000 in tax credits. That coupled with low prices and incredible interest rates, makes right now a good time to buy.
Do you see home prices further declining?
Jayson,
Thanks for the post! I think that home values in the Linden area have stabilized a bit. The number of homes on the market has decreased, especially those that are bank owned. Also, being that the interest rate is a huge determining factor of your monthly payment, a small change in interest rate (upward) will wipe out any gains had by price reductions. Even if we're not at a 'bottom', by waiting for lower prices you could end up actually paying more for a home if the rates go up.
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