A brief window is open to get up to $18,000 in tax benefits from buying a home!

$18,000 IN COMBINED HOMEBUYER TAX CREDITS FOR A LIMITED TIME

Californians have a brief window of opportunity to receive up to $18,000 in combined federal and state homebuyer tax credits.  To take advantage of both tax credits, a first-time homebuyer must enter into a purchase contract for a principal residence before May 1, 2010, and close escrow between May 1, 2010 and June 30, 2010, inclusive.  Buyers who are not first-time homebuyers may use the same timeframes to receive up to $16,500 in combined tax credits if they are long-time residents of their existing homes as permitted under federal law, and they purchase properties that have never been previously occupied as provided under California law.

Several deadlines right around the corner!

If you are looking to buy soon, then you need to be aware of some deadlines that are quickly approaching:

Upside down on your mortgage? Help is on the way!!

President Obama announced a plan to help those who are unemployed and own homes, and also to help those who are upside down on their mortgage.  Full Story

Fancher Creek Project Moving Forward

Looks like the Fancher Creek project may become a reality.  Read the Full Story.

New tax rebate for first time home buyers

I received the following email today from the California Association of Realtors:

Dear C.A.R. Member:

I’m gratified to report that late this afternoon, Gov. Schwarzenegger signed Assembly Bill 183, the Homebuyer Tax Credit legislation, into law. His actions today are the result of our efforts in Sacramento over the last several weeks as members and our team in the capital worked for the bill’s passage before it landed on the governor’s desk.

New rules make short sales much easier (and better)!

What if I told you that in less than a month 90% of all short sale will be preapproved by the lien holders prior to going on the market, and the bank would not be able to reduce commissions and the written approval of the offer would come in two weeks and the bank could not require you to close earlier that 45days and the seller would get funds to move out and the bank would have to fully release the seller…

It's time to buy!!

If you've ever thought about investing in real estate, now is the time to buy!! Of course you've heard the old saying, "buy low, sell high". Well that's not just an old saying, it's how money is made in real estate... It's not just a cliche! The savvy investor is buying when everyone else is selling, and selling when everyone else is buying.

Now you have that opportunity. Home prices are lower than they will ever be again, and mortgage interest rates are lower than they will ever be again. That's a combination of conditions that are going to cause a sharp increase in real estate values as the unemployment rate improves and the economy gains traction. This is what CNBC had to say on the subject recently. If you can qualify for a mortgage, and you don't own your own home, now is the time to get into one. If you do own your own home, now is the time to invest in a rental property.

Pre-Qualifying for a Mortgage

Pre-Qualifying for a Mortgage
by Carla L. Davis


One of the first steps to take as a potential home buyer is to get pre-qualified for a loan. This step helps both you and your lender learn just how much home you can afford. And you should begin this process before you even start looking for a home.