Senate passed an increase on the homebuyers tax break.  This is not a law yet and is part of the stimulus plan that is being revised every day.   The proposal would allow a tax credit of 10 percent of the value of new or existing residences, up to a $15,000 limit.  Current law provides for a $7,500 tax break for the purchase of new homes only.

This is great news for home-buyers across our nation and residents in our valley looking to purchase a   "Bank owned home in Temecula", or Murrieta or anywhere in Riverside County,  where home prices are at record lows.

Democrats readily agreed to the proposal, although it may be changed or even deleted as the stimulus measure makes its way through Congress over the next 10 days or so.

I will post a blog later on more of the specific rules.

If you need information on any home you see in the Temecula or Murrieta areas or anywhere in Riverside County, or are interested in finding "Bank owned homes in Temeucla" or Murrieta , or Bank Owned homes anywhere in Riverside County please call us for a free list of homes based on your particular needs and search criteria.