Spring is one of the most popular times during the year for buyers of residential property. As you are undoubtedly aware, now is a great time for anyone considering the purchase of a home. There are many properties on the market and interest rates are at historic lows. Please consider the following significant tax breaks for purchasers of residential property:
· A $10,000 state of California tax credit for anyone who purchases a new home
· An $8,000 federal tax credit for some buyers
There are limitations and important details to consider for both the state and federal tax credits – buyers can qualify for both if they meet certain criteria. Please call me and I will be happy to explain the specifics.
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