Now California Has It’s Own Home-Buyer Tax Credit
Yesterday, CA’s Governor Schwarzenegger signed into law new legislation that allocates $200M in tax credits for first-time home buyers: (1) $100M for buying new constrution and (2) $100M for buying a resale property. The tax credit would be the lesser of 5% of the purchase price or $10K and would be credited/paid over 3 years. The buyer must purchase the home between May 1 and December 31, 2010 and use the home as a primary residence for at least 2 years or face paying the credit back. As more information on the program becomes available, I will post it here. In the meantime, check out the press release from CAR. http://images.agentcenter.com/client/3/2/4/36423/CAR_Applauds_Homebuyer_Tax_Credit_Legislation.pdf
Call or email me with any questions.
Kevin P. Cummins, J.D., e-PRO, SFR
Certified Relocation Specialist
Broker Sales Associate | Realtor
Coldwell Banker Residential Brokerage
3810 Valley Centre Drive #906
San Diego, CA 92130
cell: 858-750-9577
fax: 858-793-9944
web: kevincumminshomes.com
mail: kevinpcummins@gmail.com
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CA DRE Lic. # 01812762
