Bobby Lehmkuhl

As of November 20,2009, the properties below are currently on the market in Malibu, CA as short sales and REOs. For additional information on any of these properties, visit my website at www.4Malibu.com.

Searching for foreclosures in Malibu, CA? Click here.

Broker/Agent does not guarantee the accuracy of the square footage, lot size or other information concerning the conditions or features of the property provided by the seller or obtained from Public Records or other sources. Buyer is advised to independently verify the accuracy of all information through personal inspection and with appropriate professionals. Copyright © 2009 by Combined L.A./Westside MLS, Inc. Information deemed reliable but not guaranteed.

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First Time Buyers at the Beach (Malibu, CA)

REO, Short Sales, Foreclosures - Yes, even the beach (more specifically, Malibu, CA) is not immune to this economic impact. If you are in a position to purchase real estate, now is the time - to act. Where do you want to live? If you have always dreamed of living by the beach, opportunity is knocking and deals are out there.

According to a news article, in Malibu, over the last 50 years, there has been a 5% increase over time. 12 of those years have averaged 20% or more. Only 8 times has there been a decrease.

You want it, we've got it - the ultimate Malibu deals - Beachfront or Canyon, Single Family Homes, Land, Condos & Leases.

Contact 4Malibu.com, Bobby Lehmkuhl, at 310.365.7696 or at Info@4Malibu.com.

4Malibu.com

Bobby Lehmkuhl ׀ Danielle Dutcher

Obama Signs Homebuyer Tax Credit Extension

November 6, 2009- President Barak Obama has approved the first-time homebuyertax credit extension which will extend the tax credit until April 30, 2010. The extension is part of a $24 billion economic stimulus bill that will extend the $8,000 tax credit for homebuyers who are purchasing their first home from the current November 30 deadline and expands the program to offer a credit of $6,500 to homeowners who have lived in their current home for at least five years and are seeking to relocate.

The following details apply to the homebuyer tax credit expansion:

Who is Eligible

• First-time homebuyers, who are defined by the law as buyers who have not owned a principal residence during the three-year period prior to the purchase, may be eligible for up to an $8,000 tax credit.
• Existing homeowners who have been residing in their principal residence for five consecutive years out of the last eight and are purchasing a home to be their principal residence ("repeat buyer") may be eligible for up to a $6,500 tax credit.
• All U.S. citizens who file taxes are eligible to participate in the program.

Income Limits

• Homebuyers who file as single or head-of-household taxpayers can claim the full credit ($8,000 for first-time buyers and $6,500 for repeat buyers) if their modified adjusted gross income (MAGI) is less than $125,000.
• For married couples filing a joint return, the combined income limit is $225,000.
• Single or head-of-household taxpayers who earn between $125,000 and $145,000, and married couples who earn between $225,000 and $245,000 are eligible to receive a partial credit.
• The credit is not available for single taxpayers whose MAGI is greater than $145,000 and married couples with a MAGI that exceeds $245,000.

Effective Dates

• The eligibility period for the tax credit is for homes purchased after Nov. 6, 2009, and before May 1, 2010. However, home purchases subject to a binding sales contract signed by April 30, 2010, will qualify for the tax credit provided closing occurs prior to July 1, 2010.

Types of Homes that Qualify

• All homes with a purchase price of less than $800,000 qualify, including newly-constructed or resale, and single-family, detached, town homes or condominiums, provided that the home will be used as their principal residence. Vacation home and rental property purchases do not qualify.

Tax Credit is Refundable

• A refundable credit means that if the amount of income taxes you owe is less than the credit amount you qualify for, the government will send you a check for the difference.
• For example: A first-time homebuyer who qualifies for the full $8,000 credit who owes $5,000 in federal income taxes would pay nothing to the IRS and receive a $3,000 payment from the government. If you are due to receive a $1,000 refund, you would receive $9,000 ($1,000 plus the $8,000 first-time homebuyer tax credit).
• A repeat buyer who owes $5,000 would pay nothing to the IRS and receive $1,500 back from the government. If you are due to get a $1,000 refund, you would get $7,500 ($1,000 plus the $6,500 repeat buyer tax credit)
• All qualified homebuyers can take the tax credit on their 2009 or 2010 income tax return.

Payback Provisions

• The tax credit is a true credit. It does not have to be repaid unless the home owner sells or stops using the home as their principal residence within three years after the purchase.

For information on stats from January 1, 2009 - current, visit:

http://www.4malibu.com/Nav.aspx/Page=%2fPageManager%2fDefault.aspx%2fPageID%3d2134403

For more info, email Info@4Malibu.com or call (310) 365-7696. 4Malibu.com

State of California D.R.E. Broker License # 01457517

Search the MLS like an agent! To begin, click on my link http://4malibu.listingbook.com.

How Listingbook works for Home Buyers

Shop for your dream home anywhere, anytime, and rely on your agent's expertise when you need it!

Searching for Your Dream Home is Fun

You get the freedom to search for homes just like real estate agents do. You're empowered with 24/7 access to in-depth detail on all properties listed in your area. Adjust your search criteria at any time. See details on any property that interests you, including days on market, price history, additional photos, virtual tours and much more.

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Want to know when a house comes on the market or if a seller reduced the asking price of a home? Listingbook is continuously updated so you'll be informed of any relevant property changes instantly. .

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When you find a property you like, save it as a "favorite" and easily share it with me. With just a click you can leave a note for me without interrupting your home search. You also have the ability to message your agent through a secure system where you don't have to look up an email address.

Stay Informed with Up-to-the Minute Data

Buying and selling your house can be one of your biggest financial decisions and sometimes the process can be overwhelming. With Listingbook, you have the access to the resources and information to help you make a decision you can be comfortable with.

The information in Listingbook comes straight from the Multiple Listing Service - an association of real estate brokers that agree to share listings with one another. The MLS has the most comprehensive and most current information about real estate in your area. Listingbook updates that information hourly giving buyers and sellers a trusted and dynamic resource to make an informed decision.

For more information please email Bobby@4Malibu.com or call (310) 365-7696. 4Malibu.com State of California D.R.E. Broker License # 01457517