WINDOW OF OPPORTUNITY TO TAKE ADVANTAGE OF $ 18,000 IN COMBINED HOMEBUYER TAX CREDITS!

Californians offers a window of opportunity for a very short period of the time 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. It applies to the buyers who are not first-time homebuyers in the same timeframes to receive up to 16,500 in combined tax credits if they are living in their existing homes in the past 3 years per federal 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)).

This is not only the best time for the qualified buyers. It is also a great time for the sellers to list their house. Motivated buyers can turn the market to a seller market!

For more information please contact Dina Asnaashari at 925.913.0313 or EMAIL me at dina@goldenbench.com