'Find Your Home' Category
Top 5 Facts About The New Homebuyer Tax Credit
February 27th, 2010 Categories: 4S Ranch, Brookside Escondido, Del Sur, Escondido, Find Your Home, Homebuyer Tax Credit, Poway, Rancho Bernardo, Rancho Penasquitos, Real Estate News, San Diego, San Marcos, Santa Fe Valley
On November 6, President Obama signed the Worker, Homeownership, and Business Assistance Act of 2009 into law, extending and expanding the important home buyer tax credit, and thereby providing many Americans with just the break they need to buy a first home or move up to a new home.
New Homebuyer Tax Credit
One of the requirements for becoming a Member of the Top 5 in Real Estate Network® is to provide my community with critical real estate information so you can make the best possible decision when buying or selling a home. To that end, I wanted to pass along some key facts about the extended and expanded tax credit that are critical for you to understand in order to take advantage of this opportunity:
1. Eligibility: The tax credit is now available for first-time home buyers and eligible current homeowners. A first-time home buyer is an individual who has not owned a principal residence during the three-year period prior to the purchase. This law applies for both parties in a married couple; if you haven’t owned a home for three years, but your husband has, then neither one of you can qualify for the tax credit. A qualified current homeowner who wished to move to a different home, must have owned and resided in their residence for five consecutive years out of the last eight.
2. Salary requirements: Single taxpayers with incomes up to $125,000 and married couples with a joint income up to $225,000 qualify for the full tax credit. Single taxpayers who earn between $125,000 and $145,000, and married couples who earn between $225,000 and $245,000 are eligible to receive a partial credit.
3. Amount of credit: The maximum credit amount for first-time home buyers is $8,000; the maximum credit amount for current homeowners is $6,500. The federal tax credit amounts to 10% of the cost of the home, up to a maximum credit of $8,000 for first-time home buyers and $6,500 for current homeowners. Under the new legislation, a tax credit may only be issued for homes purchased for $800,000 or less. The tax credit is a true credit—it does not have to be repaid unless the homeowner sells or stops using the home as their principal residence within three years after the purchase.
4. It’s refundable: The tax credit is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if you owe no tax or the credit is more than the tax owed. The credit is claimed using Form 5405, which you file with your original or amended tax return.
5. Timeline. The credit is available for homes purchased on or after November 7, 2009 and before May 1, 2010. The federal income credit can be claimed on one’s individual or joint tax return for the purchase of any single-family home (newly-constructed or resale, single-family detached, townhomes or condominiums) between the dates of November 7, 2009 and April 30, 2010. Home purchases subject to a binding sales contract signed before May 1, 2010 will also qualify for the tax credit as long as closing occurs by June 30, 2010.
For more information on the home buyer tax credit, e-mail me or visit www.irs.gov. Please forward this email to friends and family who may also be able to take advantage of this unique opportunity to purchase the home they’ve always wanted.
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New Condos-Greatly Reduced in San Diego
December 24th, 2009 Categories: Downtown San Diego, Find Your Home, San Diego
It’s coming for the new year, the best pricing on remaining units at Solara Lofts, prices have been reduced already by up to $200,000. This community has been one of downtown’s success stories! Only 22 units remain- so you should act fast! There is really an urgency to buying today because it may not be there tomorrow! Click HERE For more information, or call the or visit the sales center :877-571-2289, 1551 Fourth st.
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Spectacular Pool Home with Huge 2 Bedroom Guest House In Escondido’s Hidden Meadows
November 13th, 2009 Categories: Escondido, Find Your Home, New Listings
This beautiful home and guest house sit on 2.3 acres of beautiful land. Fruit trees and commercial flowers are an added bonus to what this home has to offer you.
This home is ideal for entertaining friends and family! Relax on the back patio after a dip in the Saltwater pool and jacuzzi. Walk the grounds with family and friends to show off the beautiful landscape already established and ready to enjoy.
The main home has 3 bedrooms and 2 full bathrooms. Recessed lighting and skylights add to the ambiance of this home. The guest house is 1200 square feet with 2 bedrooms and 2 full bathrooms. There are views from the back of both homes.
Hidden Meadows is a quiet country town just north of Escondido. This town is secluded , private and friendly…..Welcome home.
This is truly a must see property and at a great price $789,000 – $834,000. Email Me.
Enjoy this virtual tour of 29040 Meadow Glen Way West!
Misty Dobson
Realtor
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Poway School District Home – Immaculate & Spacious Pool Home
October 18th, 2009 Categories: Find Your Home, Poway, Rancho Bernardo, Rancho Penasquitos
Looking for a great home in the Poway School District? We’ve got a great one in Rancho Penasquitos you should really see. Located just minutes off the freeway’s and close to shopping, this home is exceptionally clean, lots of room, and has a fabulous pool. 
This beautifully and well maintained home in Rancho Penasquitos is full of pride of ownership. It’s truly evident as you enter this 4 bedroom, 2.5 bath home. With over 2600 square feet, it’s roomy and well laid out for larger family.
Enjoy quiet evenings on your patio or entertain your family and friends with a barbecue or a swim in your pool. The large back yard offers privacy and nice landscaping.
All windows are dual pane vinyl windows. You will want to see this home if you’re looking in Penasquitos, so please call for a private showing. Accepting backup offers only.
Watch the virtual tour here by clicking on this link.
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