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Clovis Real Estate News

March 25th, 2010

2010 CA Tax Credit

California Home Tax Credit

It’s official.  Gov. Schwarzenegger signed the CA Home Tax Credit legislation into law.  The CACalifornia home Tax Credit, CA home tax credit tax credit provides $200 million for home buyer tax credits ($100 million for qualified first-time home buyers of existing homes and $100 million for purchasers of new, or previously unoccupied, homes).  Click below to learn who qualifies for the $10,000 CA tax credit.


Who’s Eligible?

Clovis home buyers who purchases a qualified Clovis home on and after May 1, 2010, and on or before Dec. 31, 2010, or who purchases a qualified home on and after Dec. 31, 2010, and before Aug. 1, 2011, pursuant to an enforceable contract executed on or before Dec. 31, 2010, will be able to take the allowed tax credit.

How Much is the Tax Credit?

The new CA tax credit is equal to the lesser of 5% of the purchase price or $10,000, in equal installments over 3 consecutive years. Clovis residents are required to live in the home for at least 2 years or forfeit the credit (i.e., repay it to the state).

Shouldn’t I Wait to Buy?

The previous CA home buyer tax credit program was so successful that it ran out of tax credits 8 months before it was set to expire.  There’s no reason to think it won’t be the same this time around, too.

Clovis Real Estate

At Clovis Real Estate we specialize in Clovis homes. For example, we offer a FREE list of ALL Clovis CA homes for sale. Our Clovis homes for sale list is no ordinary list. Updated daily, you can view photos, maps, and Clovis school information. Plus, we include Clovis foreclosures, Clovis short sales, and traditional Clovis homes for sale. In fact, we offer the most comprehensive list of Clovis homes for sale. You’ll find every Clovis home listed by every real estate agent in the Fresno / Clovis area. If your dream Clovis home is out there – you’ll find it here.

To receive a FREE list of Clovis homes for sale, simply fill out the form below and a list of Clovis homes currently for sale will automatically be emailed to you. Happy house-hunting!

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This entry was posted on Thursday, March 25th, 2010 at 4:08 PM and is filed under Buyer Info. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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