First time homebuyer GOLDEN opportunity California

In California, if you are a first time homebuyer (if you have not owned any real estate in the past 3 years YOU are a first time homebuyer). You will qualify for TWO separate tax credits IF you close escrow by the end of the year. Rules are changing each week, but right now these two tax credits apply for you IF you buy a new home in California as a first time homebuyer you will get a $10,000 state of California tax credit spread evenly over the following 3 years after closing. (This could mean cash in your pocket of over $3,300 per year) ALSO you will qualify for an $8,000 federal tax credit that DOES NOT have to be paid back if you buy your home by the end of the year as a first time homebuyer, this federal credit applies only to the first time homebuyer crowd and you can buy any single family home not just a new one. BUT if you are a first time Calif home buyer AND you buy a new home, you WILL get the tax credit from BOTH the state and federal tax systems that could add up to $18,000 in total tax credits! IF you sell your home within the first 3 years, the federal tax credit MUST be paid back IN ESCROW in full, so you must plan on staying in your home for at least 3 years to keep the federal tax credit. All of this is planned to stimulate the housing market and put first time homebuyers in line to buy a home in California. For some people this is the first and perhaps only opportunity to get into the California home market. You must get qualified by a lender before shopping for your home so you will know what your budget is going to be. For more details, call me to set up an appointment to discuss your options on buying a home in today's market. Even if you are not a first time homebuyer you will find that today's prices and interest rates are the lowest in years. Investors may be looking to the California real estate market as a way to grow their investments if they believe in the up and down cycle of historical real estate values. If you are retired and moved out of California in the past, you may be thinking of coming back to California, now is the time to see the lowest prices and motivated sellers that you have seen in a few years. Bank owned homes are in better condition than they were a year ago. Barbara Adams, Realtor  Kappel and Kappel Inc. 401D Davis Street Vacaville, Ca 95688  707-673-7500 Cell 707-471-4068 eFax   Homes/Investment/Land/Ranches VacaHomes.com