For the first time in history....for a small window of time...you can receive up to $18,000 tax credit!
If you are a FIRST TIME HOMEBUYER(you qualify if you have not owned a property as your primary residence within the past 3 years)then you are a First Time Homebuyer.
Here's how this loop hole works for a limited time period of about 3 months!
You must at least GET INTO ESCROW by April 30th, 2010 and CLOSE ESCROW by June 30th, 2010.
If you do this, then you will BENEFIT from 2 overlapping tax credits.
1)The first credit is the $8000 Tax Credit for First Time Homebuyers. Which is a federally issued credit and good til JUNE 30th, 2010.
2)the second credit is the NEW $10,000 tax credit that Gov. Arnold Schwarzenegger signed into effect 2 days ago in CA. The new AB 183, takes effect May 1st, 2010 til the end of the year Dec. 31, 2010. This credit is from the state of CA and gives a homebuyer an additional $10,000 tax credit if you are either BUYING your FIRST HOME or BUYING a NEW HOME.(meaning NEW CONSTRUCTION, a home that's never been lived in) http://gov.ca.gov/press-release/14712/
SOOOOOOOOOOOOOOOOOOOO, if you get into ESCROW as a First Time Homebuyer before April 30th, 2010 and CLOSE before June 30th, 2010(when the $8000 credit officially ends) then YOU can BENEFIT from BOTH of these tax credits and not just one. GET IT?????
For First Time Homebuyers in the state of CA..this is your GOLDEN OPPORTUNITY!
Interest rates are still historically low hovering around 5% and prices are still at a low price range for the first time since the bubble here in CA.
Now really IS the time to BUY!!!
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