New California Homebuyer Tax Credit

The following is an article that came to me via First American Title.  Always want to give credit where credit is due.  The one question everyone has is ” does this apply only to those people who go into contract after the Federal Tax Credit goes away on April 30, 2010?  In other words, non “double dipping”.  I need to call the CAR attorneys on this one as a lot of people are confused.  Anyway you look at it, it  is a good thing but the time constraint here is “when the money runs out”, not the dates.  Very important to remember, ie act quickly. 

Gov. Arnold Schwarzenegger signed a new bill this week that would extend the $10,000 homebuyer tax credit to Californians. The state legislature on March 22 passed assembly bill (AB) 183, which gives the Franchise Tax Board authority to extend $200m in tax credits to homebuyers in the Golden State. Buyers of new, unoccupied homes are allocated $100m in credits, and first-time homebuyers of existing homes get another $100m. The credit is extended from May 1, 2010 to Dec. 31, 2010. The credit is available to buyers on a first-come, first-serve basis, and it’s applied in equal amounts over a three-year period. According to the governor’s office, the initial $100m tax credit approved in February 2009 lasted just four months

Were are all the listings? Time is running out!

A lot of REO (foreclosure) agents told me that we would see a “flood” of new listings come on the market the first part of this year.   Well, we are almost done with the first quarter and April 30, 2010 is fast approaching and there arent’ any listings.  Why is that date important?  Well, in order to get the first time home buyer tax credit of $8000 you have to be in contract by April 30 and then close by June 30, 2010.  If there aren’t any listings then people can’t buy and therefore, can’t get the tax credit.    Since Bank of America and Wells Fargo Bank control/own the majority of the  foreclosed homes you gotta wonder why they aren’t putting them on the market.    Is there some conspiracy going on here?  No listings, no sales, no tax credit, saves the government a lot of money?  I wish I knew but food for thought for sure.  So the next BIG question is, will the government extend the credit once again?  I sure hope so.

New listing at 313 Creekside, Winters, CA

Well, we finally have a new listing to show our clients!  There a new listing at 313 Creekside that has a granny flat over the garage.  The City ordinance states that the owner has to live in one or the other, so an investor can’t buy a “duplex”.    The home is listed at $259,900 and 3 bedrooms and 2 baths.  This is a popular neighborhood due to the fact that there is access to the trail that runs along Putah Creek and is close to the downtown area.  Come and take a look.

Olympians at Squaw Valley.

My daughter is a sophomore at Sierra Nevada College at Incline, NV.  She has been taking skiing this semester.  Yes, I am paying  for that class.  She tried snowboarding when she was younger but wasn’t impressed.  This is the first time she has tried skiing and has enjoyed it.   Anyway, she is not a fan of the Olympics and has not watched over the past two weeks.  I talked to her tonight and she said that her school is going to Squaw Valley to ski tomorrow as some Onlymic athlete has a tie to her school and she will be at Squaw tomorrow.  Oh, that would be Julie Mancuso!  She didn’t know so had to look it up, guess what?  Mom was right!  Have a great time, Devon, should be an awesome day in many ways.

Hubby gets new knee!

Monday morning I had to have my husband, John, down in Vacaville at 6AM for his total knee replacement.   Those who know me well know I am not a morning person.  However, I got him there 5 minutes early!  Please be impressed!  Check out my Facebook page for pictures as I always seem to have  a problem posting them here.  John came home on Thurs afternoon and my son, Chad, and I have been playing nurse ever since!  Finally I will have some more time to Blog.  Thanks for your patience. 

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Great evening at BJ’s Brewery in Vacaville, CA

My friend, Judy and I stopped at BJ’s Brewery in Vacaville on our way home form San Franciso, tonight.  I called in when we hit Fairfield to put our name on the list and was told it was a 45-60 min wait.  When we got there we found a mom and son just finishing and they told us we could have their table, but one small problem, she couldnt’ find her wallet!  They had been to the movies but they couldn’t find her wallet in the car.  They called over the manager and explained the problem, she offered to call her husband at work and give them the ATM number over the phone.  The manager said , NO PROBLEM, I will comp  your meal.  Not what the lady had expected but again the manager said, I will pay for your meal.  The funny thing was that he thought that my friend and  I were part of the party and he was ready to comp 4 meals.  Never even asked why we couldn’t pay for her.  We were all over whelmed so I told him I would put this on my Facebook page and blog.  The amazing thing was that this manager had no idea what a huge thing was doing.  While we were waiting for the manager to come this lady told me that she had been  diagosed with caner back in October and has under gone 3 cancer surgeries and is undergoing chemno and radiation.  On top of that, this women came back to the restaurant just as we were finishing to pay her bill.  She had gone all the way back to her home in Fairfield and then to the Brenden theaters in Vacaville where someone had turned in her wallet, complete with her cash.  But, still, Bj’s would not take her money. On top of this, her 14 yr old son could not have been nicer nor more supportive of her suffering all this embarassing stuff.  His name is Dillian, want to give him credit.   You just don’t see this kind of service any more so I told Bj’s I would put this story on my Facebook pageand blog as I was so touched.  Everything about this just came from the heart.  So, if you are in Vacaville, stop by BJ’s and have something to eat, they deserve our business.

30321 Positas Road, Winters, CA

I have a wonderful new listing out in the country.  Positas Road is on the West side of town just past Pleasants Valley Road.    It is up on a hill and has wonderful views of the foothills.  The house has 3 bedrooms and 2 baths with a large two car garage.  This home has lots possibilities.  Call me  today and make an appointment to see it before it is gone.

New Foreclosure listing in Winters, CA

201 Almeria is a nice, new, bank owned,  listing ready for viewing.  It is very neat and clean and ready for move in.  The home has newer carpet, paint, blinds, kitchen cabinets an droof.  It has a really nice, large backyard and is located close to many of the schools in town.  This is priced at $184,900. so won’t last long and will probably sell for more that  the list price.