HOMEBUYERS' TAX CREDIT HAS BEEN BRIEFLY EXTENDED

More good news Friday when it was announced that California's Governor had signed a bill hoping to assist in the sale of vacant homes in his state while generating some new construction. Proposed bill will extend a first time homebuyers state tax credit up to $10,000. These prospective homeowners MUST PURCHASE HOME BY MAY 1, 2010, and can claim up to 5% of the purchase price against California taxes, not to exceed $10,000.

In looking at the price point of many homes selling in the south bay, and in discussion with several of my persoal clients, I do personally believe that this incentive is absolutely assisting in moving homes off the market. If you are on the fence, now could be the time for you, but prior to making any decision, be sure to discuss with your tax accountant and a professional Realtor.