Real Estate Blog LA

California has initiated its own homebuyer tax credit. The bill — AB183 — was signed last week by Governor Schwarzenegger. The credit is for 5% of the purchase price, with a maximum credit of $10,000. That’s a dollar-for-dollar reduction against income tax payments that would otherwise be due. Homebuyers must claim the tax credit ...

Congress once again is considering new tax credits intended to lure wary homebuyers into the nation's sagging housing market. Washington lawmakers have proposed several separate bills laced with housing incentives. The plans differ, but key elements include:Near doubling of tax credit. Sen. Johnny Isakson, R-Ga., has introduced a bill that ...

Tax credit offered to new homebuyers Expires June 30, 2009! Who is eligible?First-time homebuyers or any homebuyers who have not owned a principal residence in the last three yearsHow does it work?Eligible purchasers can claim the $7,500 credit on their annual tax return form. · Amount of credit: 10% of cost of home or a maximum of ...

To help you make sure you manage your credit cards--and your credit score--during the upcoming holiday spending season, follow these steps: Double-check your card limits. Many credit card companies today have started lowering credit limits. That means you have less credit available, but it also may mean that your credit score is about to take a ...

This week, President Bush signed the "Housing and Economic Recovery Act of 2008" into law. This $300 Billion rescue plan is aimed at helping struggling homeowners avoid foreclosure, as well as boost confidence in the housing market. Although the bill is several hundred pages long and contains a number of far-reaching provisions, here are ...