State Of California Approves New Home Purchase Tax Credit Up To $10,000 | Another $8,000 From the Federal Government For Qualifying First Time Buyers - $18,000 Total In Tax Credits

Here in Riverside County, for the last two decades, everywhere you looked, New Homes were being built. You couldn't drive down the freeway without seeing a truckload of lumber, roof trusses or other construction related materials being hauled everywhere.

Now, with the current economic conditions new housing construction has come to a halt and builders are trying to unload "Standing Inventory".

California Home Builders rallied for and obtained, a Tax Credit for "Newly Constructed Homes only". Purchasers of Brand New Construction can qualify for a tax credit of up to $10,000.00. Plus if you have not had interest in a home in the last three years you may be able to qualify for the Federal, New Home buyer Tax Credit, of $8,000.00.

This new Tax Credit began March 1, 2009. Read the full story here on the State of California Website.

• This is just one more reason, to purchase a Brand new Home in California.

Prices for brand new homes, have not been this low in Riverside County for 8 years.

Many have finished yards, granite counter-tops, window coverings and appliances.

I preview and sell new homes to clients who need a quick escrow. Using an agent to help you purchase your new home can result in getting you a better price, HOA fees paid and better interest rate.

Agents who work with the builders, have a relationship with the builder and have done the research to know where the best value in new homes are.

Although there are a lot of great deals, in short sales and Bank Owned homes right now, (if you have the patience), a brand new home can result in a much shorter escrow if you need to move quickly.

New Home Property taxes can be higher, this is due to Community Facilities District bonds for infrastructure.

However, I do know of a few homes like the one pictured below, that has only a 1.1% tax rate.

Many have Homeowner Association fees. The areas with the Homeowners fees have a lot to offer in the way of ammenities such as club houses, swimming pools and some are even built around lakes.

If you are Looking for a New Home there is a lot to choose from. Pricing begins at $150,000 for a condominium.

Single Family homes with good sized yards are starting at $215,000. This is for a 3 bedroom home with everything included: Appliances, (Washer/Dryer), window coverings, landscaping in front and back yards.

~ If you are thinking about purchasing or selling your home whether you are a "First Time Buyer", or an "Investor", who wants to work with a local area expert, contact us toll free.

We proudly serve and sell Real Estate in Riverside County, California. We specialize as a buyers agents in Temecula, Murrieta, Menifee, De Luz, Wine Country, Canyon Lake and the surrounding areas. We are also "Custom Home", listing agents for the Temecula Wine Country.