Tuesday, December 1, 2009

New Tax Credit for Mission Viejo Home Buyers

There are 183 homes for sale in Mission Viejo today that will qualify for the new and expanded Home Buyer Tax Credit program. The new program, which goes into effect December 1, 2009 applies to any home for sale in Mission Viejo, or anywhere in Orange County, that you buy for less than $800,000.00 The expanded offering also has higher income limits, is not restricted to just first time home buyers, and is available until April 30, 2010. This short video will give you more of the details.

Wednesday, November 11, 2009

New Expanded Home Buyer Tax Credit

New legislation has extended and expanded the old “First Time Home Buyer Tax Credit” – it now applies to people who already own home as well. The picture of the chart from NAR has the details.

Here are the main points:

· First time buyers are people who have not owned a home in over 3 years

· Credit for first time buyers is $8,000

· Credit for current home owners is $6,500

· Current home owners must have lived in the home being sold for 5 consecutive years out of the last 8 years

· The income limits are increased to $125k/$225k single/married

· You must be under contract by April 30 and close escrow by July 1, 2010

Ready to start shopping? Try looking here or here!

Posted via email from Paul's posterous