Californians have a brief window of opportunity to receive up to $18,000 in combined federal and state homebuyer tax credits. To take advantage of both tax credits, a first-time homebuyer must enter into a purchase contract for a principal residence before May 1, 2010, and close escrow between May 1, 2010 and June 30, 2010, [...]
Late this afternoon, Gov. Schwarzenegger signed Assembly Bill 183, the Homebuyer Tax Credit legislation, into law. AB 183 will provide $200 million for home buyer tax credits, allocating $100 million for qualified first-time home buyers of existing homes and $100 million for purchasers of new, or previously unoccupied, homes. The eligible taxpayer who purchases a [...]
California lawmakers have voted to extend a $10,000 tax credit for first-time homebuyers. The credit will apply to first-time buyers who purchase new or existing homes between May 1 and Dec. 31 of this year. It is for 5 percent of the purchase price, or up to $10,000. The bill received bipartisan support in the [...]
“As is” clauses in sale contracts mean that sellers aren’t making guarantees as to a property’s condition, and aren’t going to make any repairs. That’s a buzz-kill to many buyers, who assume, rightly or wrongly, that something major is wrong with the house. But the problem can lie with sellers’ finances, instead. Folks who are [...]
10 tips that will help you properly prepare for the process of Home Ownership: Decide what you can afford. Generally, you can afford a home equal in value to between two and three times your gross income. Develop your home wish list. Then, prioritize the features on your list. Select where you want to live. [...]
Mistakes to AVOID when purchasing a home. 1. Not asking enough questions of their lender and end up missing out on the best deal. 2. Not acting quickly enough to make a decision and someone else buys the house. 3. Not finding the right Realtor who’s willing to help them through the homebuying process. 4. [...]
Everyone knows that when you buy something in a panic, without doing proper research, you create a lot of room for regret. Real Estate is just the same way except that this regret will result in wastes of money and a loan that you have to pay off monthly… OUCH!! So what has caused the [...]
Now that you know what the tax credit is chances are you have started to look into moving into that new home. Great News, however a lot of you are still saying, “With this economy, is this the best move right now? Are there other sources we can go to for help financially?” If you [...]
