$4,000 Grant !!!!!!

If you are a first-time home-buyer who is a police officer, sheriff’s deputy, firefighter, California Highway Patrol officer or emergency medical technician, the $4,000 grant program for public safety responders is still going and funds are still available. There are only a limited number of grants available, so don’t miss out! For more information call Heather at 818-388-2743

Gov. Arnold Schwarzenegger Signs Bill!!!!!

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 home-buyers.

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 home-buyers who buy new or existing homes from May 1 until the end of 2010.

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

Call me for more information.

Heather Farquhar 818-388-2743

Federal Tax Credit for Home Buyers Extended and Expanded

The tax credit will be extended through April 30, 2010, with a 6-day extension if a binding contract is in place prior to the deadline. First-time home buyers will continue to receive a tax credit of up to $8,000, while existing homeowners will receive a credit of up to $6,500. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.

Buy a Studio City Home and get a tax credit

The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence - new or resale -on or after January 1, 2009 and before December 1, 2009. The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000. The income limit for single taxpayers is $75,000; the limit is $150,000 for married taxpayers filing a joint return.

First-time home buyers purchasing any kind of home—new or resale—are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and before December 1, 2009. First time home buyer means that you have not owned a principal residence in the past three years.

I strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation.