Archive for March 26th, 2010

Breaking News! Schwarzenegger signs homebuyer tax credit bill!

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This is a fantastic boon to first time homebuyers.  Some will be able to double dip!  It’s good until the end of the year (or up to the $100m allotment, which analysts say could be no more than 6mos!) and will keep our market moving when the federal tax credit expires April 30.

Good job Governor Schwarzenegger!

image courtesy SacBee

Schwarzenegger signs homebuyer tax credit bill

By JUDY LIN Associated Press Writer

Posted: 03/25/2010 03:35:52 PM PDT

Updated: 03/25/2010 05:20:08 PM PDT

SACRAMENTO, Calif.—Gov. Arnold Schwarzenegger on Thursday signed a bill aimed at selling California’s vacant homes and encouraging new construction by extending a $10,000 state tax credit for first-time homebuyers.

The governor signed a bill the state Legislature passed on a bipartisan vote earlier this week. It provides a state tax credit to first-time homebuyers who buy new or existing homes from May 1 until the end of 2010.

Homebuyers can claim 5 percent of the purchase price against their California taxes, or up to $10,000.

To view the whole story: http://www.mercurynews.com/news/ci_14758523?source=email&nclick_check=1

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