State May Extend, Expand Home Buyer Tax Credit
According to a California Association of Realtors report on a state press release today, Governor Schwarzenegger is proposing:
“to set aside $200 million for a new round of $10,000 state tax credits for first-time home buyers. The proposal expands upon the initial $10,000 state tax credit by including both new and existing homes. Last year’s tax credit applied only to new homes. The tax credit could be combined with the recently extended and expanded federal tax credit for home buyers.”
If you are a buyer or seller, take advantage of low interest rates and government tax incentives soon. As they say in those infomercials, “This is a limited time offer.”