WHY IN THE WORLD ARE YOU NOT BUYING A HOUSE NOW????

By
Real Estate Agent with Dunnigan, Realtors, Sacramento (916) 425-9715 CalBRE # 01188158

If there was ever a real estate's perfect storm in California, this is it!  Here is the simple "down and dirty":

  • Be in contract by April 30th, 2010                                                                  
  • Close escrow between May 1st and  June 30th, 2010
  • You can get overlapping checks from the Federal government and from the State of California

What do you get?

  • Up to $6500 from our Federal government for existing home owner...a check...that's it.
  • Up to $8000 from our Federal government for new home buyer...a check...that's it.
  • Up to $10,000 from the State of California over 3 years...a credit towards your taxes...that's it.

The caveat?

  • For the $8,000 Federal check, you must be a first time home buyer            
  • For the $6500 Federal check, you can be an existing home buyer
  • For the $10,000, you must have lived in your present home 5 out of the last 8 years.

Now, as with all good things, don't take this on face value...check with your CPA to be certain that you qualify before you commit.

So, as I said, why in the world are you not buying a home NOW?????

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Rainmaker
179,781
Kristyn Grewell
CENTURY 21 Goodyear Green Edmond, OK - Edmond, OK
Edmond, OK Homes, Oklahoma Relocation Services

I had not heard about California's additional tax credit!  That is amazing!  If that won't push a buyer off the fence, nothing will!

Mar 31, 2010 03:24 PM #1
Rainmaker
1,317,857
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

It the buyers have a secure job, it certainly can be a good time to buy.  There are several limitations so it is good to make sure that the buyer qualifies.  I think a lot of people are taking advantange of these incentives.

Mar 31, 2010 03:25 PM #2
Rainmaker
636,567
Mary Douglas
United Country Ponderosa Realty, Red Feather Lakes, Colorado - Red Feather Lakes, CO
REALTOR, Red Feather Lakes, Colorado

Hi Paula, We haven't seen a lot of people taking advantage of the tax credit, here- my question would be the same as yours :-)

Mar 31, 2010 03:43 PM #3
Rainmaker
516,588
Russell Lewis
Realty Austin, Austin Texas Real Estate - Austin, TX
Broker,CLHMS,GRI

And after all...prices are now affordable! I hope you are very busy my friend!

Apr 01, 2010 10:45 AM #4
Rainmaker
262,842
Paula Swayne
Dunnigan, Realtors, Sacramento (916) 425-9715 - Sacramento, CA
Realtor-Land Park, East Sac & Curtis Park -Dunniga

Hi Kristyn!
I wonder, in a state that is woefully financially challenged, where they are going to get these funds, but might as well take advantage of it!

Hi Joan!
I agree...that is why I said to check with your CPA!  It can be tricky!

Hi Mary!
I am sure the job rate is part of it, but with so many buyers out there, I think we are going to have a big push of sales through June.

Hi Russell!
Busy...not always with real estate, but enough so!

Apr 01, 2010 04:40 PM #5
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Rainmaker
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Paula Swayne

Realtor-Land Park, East Sac & Curtis Park -Dunniga
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