Notes On Tax Credit Extension

Extended to: 

• September 30, 2010.

Who Qualifies: 

• First-Time Home buyers
• Current Home owners who have lived in their residence as primary for 5 years and are purchasing a new primary residence. 

For Tax Returns:

• First-Time home buyers are required to fill out the Form 5405 and show the transactions Settlement Statement.
• Current/Long-Time residents who are buying new principal residences are require to fill out the Form 5405 and provide the following: Property Tax Records, Homeowners Insurance Records or Form 1098 Mortgage Interest Statement.

For more information from the IRS please click here:

http://www.irs.gov/newsroom/article/0,,id=204671,00.html

California's Housing Inventory @ 5 year Low

For my buyers this has been a challenge and for my sellers, let's make sure we don't miss the opportunity. I have experienced this change in motion in our under $700,000 market for the past 8 months. Like stated in this article, motivation is most likely being driven by the tax credit initiative that will expire in the coming months.

Read More on Inventory by clicking image below:

Read more on the tax credit facts by clicking image below:

CAR Market Matters Report

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