Here we ago again, yet another First Time Home Buyer Tax Credit. This state credit will provide up to $10,000 for first time home buyers of new or existing construction. The following Contra Costa Times article provides details about the credit itself. The credit will be applied throughout the state and is limited to $100,000,000 for purchases of new homes and $100,000,000 for purchasers of existing construction. I see this as a sign that both the federal and state governments realize that we are not “Out of the Woods” yet in terms of the economy and are trying to provide incentives to the housing industry. The nice thing is that this can be utilized with the purchase of short sales and foreclosures.
Schwarzenegger signs homebuyer tax bill – ContraCostaTimes.com.
