Housing Tax Credit 2009 Official Document

March 9th, 2009 by Andrew Chen

2009 is a good year to buy a house. It is extremely good year to buy a new one in California because the Federal Government and

California state government provide large amount of tax credit to home buyer. The total tax credit or the money you can save on buying a new house can be up to $18,000.

I didn’t believe that originally until I review the official document from the Federal Government and the State. Here is the official document for 2009 Federal housing credit 2009. The Federal housing credit is up to $8,000 and it is for first time home buyer. Here is the official document for 2009 California State housing Tax credit. The tax credit in California is for buyer of newly construction homes. It is up to $10,000 and it is valid for new home sell after March 1st, 2009. You can review the document for more detail. So if you are a first time home buyer and you are buying a new home in California you will get up to $18,000 tax credit.

Further more nowadays if you are buying a new home the builder will usually provide up to 6% incentive to cover closing cost and interest rate buy down. You can even negotiate the price down about 3%-6% percent. So it is never been a good time to buy a new house in California. Of course if the US economy deteriorates further housing price will drop further.

About

Does Disaster Always Spell For Opportunities?

Causes of 2008 Financial Crisis

Believe it! IE7 is Going to Help Chinese Domain Name Thrive

Development of The West District of Zhu Hai

Posted in Money Talks, Others | 1,171 views