New: $15,000 Tax CREDIT FOR HOMEBUYERS
Its great what congress is doing right now. Last week, they passed a $15,000 tax credit for ANYONE buying a house in the next year! This is something you may want to take advantage off!
How it works: it is 10% of the PURCHASE price, up to $15,000 max. The buyer will then have it credited at the 2009 year-end tax return.
It used to be only $7,500 and only for first time buyers, but now, all can qualify for this tax credit, that has been trying to "get in" since the 1970s
Also, with the original $7,500 credit, you had to repay it... correct me if I am wrong, but this new $15,000 credit, is NOT required to be repaid.
I hope they bring back the buyer's assisted down payment program, as this can defintely help many would-be buyers, that are a bit short on cash, but have fair, good and excelent credit scores.
On a different note, we've seen now very affordable foreclosure homes in the San Diego area, including Chula Vista, Imperial Beach, Paradise Hills, Bonita, National City, Downtown San Diego, Spring Valley and many others.
It is indeed a buyer's market.... enjoy it!
Gustavo Torres
www.CaliforniaForeclosureTour.com
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