“World's Most Complete Neighborpedia”
Sponsor a Community — What is Localism? | Register or Sign In
Explore:   What's happening in your neck of the woods?
Home Michael Koenig

Michael Koenig

Blog_tag

$18k Tax credit for California Home Buyers! how...

03-26-10
Michael Koenig

Stack of MoneyThis is big news for home buyers in California!

The credit will apply to first-time buyers who purchase new or existing homes between May 1 and Dec. 31 of this year. It is for 5 percent of the purchase price, or up to $10,000.

Governator Schwarzenegger is expected to sign it into law soon.

Want to hear something REALLY crazy? It may be possible to combine this credit with the Federal Tax credit of $8,000, enabling a home buyer to potentially capitalize on up to $18,000 in tax credits! Wow! It’s a narrow window of opportunity: you would need to be officially in a contract by April 30, 2010, but close between May 1, 2010 and June 30, 2010.

If the extended tax credit follows the same guidelines as the previous tax credit (which ended in August 2009), here are the basic requirements:

  • Must purchase the home between May 1, 2010 and December 31, 2010.
  • Purchase date is the date escrow closes.
  • The home must be the principal residence of the home buyer
  • Home must be occupied by the taxpayer for a minimum of two years

There are additional requirements…and we’ll post them as soon as we get them from the top.

Looking for Foreclosure Listings in the San Francisco Bay Area? Here you go!

2 Comments
Blog_tag

Fremont interested in the Oakland A's...again...

01-19-10
Michael Koenig

Fremont interested in the Oakland A's...again...


At a council meeting last week, Fremont City Manager Fred Diaz revived Fremont's chances at landing the team. Supporters and opponents of the new stadium were equal in attendance. Notably different than in January 2009 when hundreds of stadium opponents rallied outside of City Hall. More than a dozen Chamber of Commerce members spoke to the council in favor of the new stadium plan. Supporters of the stadium believe that bringing the baseball team to Fremont would boost business and create more jobs. Opponents, however, say that research has shown that stadiums are not economic opponents.

The new stadium plans would put a 36,000-seat ballpark on 120 acres of land owned by the NUMMI auto plant, which will be closing in April of this year. The plans call for Alameda County to buy the land and for the city to make as much as $80 million in infrastructure improvements funded by future stadium rent, ticket surcharges and parking concessions.

What are your thoughts about this? Should the Oakland A's move to Fremont?

0 Comments