The California Association of Realtors reports that the newly signed California budget provides for a tax credit of up to $10,000 for new home buyers. The credit will apply to purchases made between March 1, 2009 and March 1, 2010. Buyers are eligible for a credit equal to 5% of the purchase price of the home up to a maximum of $10,000. It does not apply to the purchase of existing homes; but it does apply to any buyer (not just first time buyers) as long as they are purchasing a primary residence. Also important to those sitting on the fence; it is limited to the first 10,000 new home purchases — although I have no idea how they will keep track of this! And if you are a first time home buyer, you can double up and use the new federal $8000 tax credit as well.
This can come in handy to those considering buying a new townhome in the gated community of Lavigna in southwest Santa Maria, or the master planned community of Rice Ranch in Orcutt. I would recommend taking a buyer’s agent with you when looking at new homes. If you bring an agent with you on the first visit, most builders will pay your agent’s commission. A buyer’s agent can provide great advice during the process as the sales agents in the office usually exclusively work for the seller/builder. A buyer’s agent can give you advice about which options will help you resell the unit, as well as current comparative sales information for similar new and re-sale units. In addition, I also attend contract signing and final walk through with my clients.
If you would like information or a list of new home developments, or available foreclosures, condos, or short sales in the Santa Maria – Orcutt CA area, send an email to me at firstname.lastname@example.org. You can also search for properties on my websites: www.iLoveSantaMaria.com, www.SantaMariaRealEstateSearch.com, & www.BuySantaMariaForeclosures.com (map based search). If you have questions about a specific property, or would like to set up an appointment to consult about a possible short sale of your property, I can be reached at (805) 878-9879.
Tni LeBlanc, JD, M.A., e-PRO
Broker/Owner, Mint Properties
(805) 878-9879, tni@MintProp.com
*Based on the information from the Central Coast Regional MLS. Neither the Association, the Multiple Listing Service, or Mint Properties guarantees or is in any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the market. Potential homebuyers are advised to consult with a tax professional.