See Below From The California Association of Realtors...
Your Simi Valley realtor wants you to be as informed as possible. When buying Wood Ranch real estate or Simi Valley condos and Simi Valley townhomes, Simi Valley REO homes, or any Simi Valley properties, it is imperative you be knowledgeable.
If you are in a position to help a son or daughter, this, too, is for you. The opportunity is now for young people to purchase a Simi Valley home with Mom or Dad's help. I have assisted many clients with their children and the children still get the tax benefits. I would always recommend you speak with your tax adviser, but helping them now ensures their entrance into home ownership.
Interest rates are at an all-time low and prices are so affordable, I wish I had liquid money to purchase and purchase and purchase...
A must read for those of you who have not yet taken advantage of the tax credits provided by the government...as a first time home buyer, again I say...you must review this with your tax adviser. Again...if you are a parent and in a position to help your son or daughter get into home ownership, the time is now... if I can assist in the process to connect you with the lender...call me.
The interest rate today is like getting free money with the rates so low and prices with Simi Valley real estate affordability low enough for you to purchase a new home or assist your son or daughter!
And even if you are moving up, it is time now!
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$18,000 IN COMBINED HOMEBUYER TAX CREDITS FOR A LIMITED TIME
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, inclusive. Buyers who are not first-time homebuyers may use the same timeframes to receive up to $16,500 in combined tax credits if they are long-time residents of their existing homes as permitted under federal law, and they purchase properties that have never been previously occupied as provided under California law.
Under the federal law slated to soon expire, a first-time homebuyer may receive up to $8,000 in tax credits, and a long-time resident may receive up to $6,500, for certain purchase contracts entered into by April 30, 2010 that close escrow by June 30, 2010. Additionally, under a newly enacted California law, a homebuyer may receive up to $10,000 in tax credits as a first-time homebuyer or buyer of a property that has never been occupied. The new California law applies to certain purchases that close escrow on or after May 1, 2010 (see Cal. Rev. & Tax Code section 17059.1(a)(4)).
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