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Best Time To Purchase A Home

March 21 2009 22:31

Good news for first time homebuyers! If you purchase a home in 2009 you will be eligible for a federal tax credit of up to $8,000. For those of you who have been waiting to buy a home this news, combined with low interest rates and some nice sales prices, makes it a great time to start shopping. Here are the requirements: 1. You must be a first time homebuyer, meaning that you have not owned a principal residence in the last three years. Current or previous ownership of vacation or rental homes does not count and will not disquallify you. 2. Income limits: $75,000 for each unmarried borrower and $150,000 for married couples. 3. If you own and occupy the home for at least three years there is no requirement to pay back the credit. In addition, California has allocated $100,000,000 in tax credits to first time home buyers who purchase NEW CONSTRUCTION homes. The homes can be single family detached or attached but must never have been occupied. Here are the requirements: 1. Property must be new construction (never occupied) 2. Buyer must live in the home for two years 3. The credit is allocated over a period of three years and cannot exceed $10,000 total
The Best Place To Raise Kids

December 29 2008 15:22

Arcadia has been named Calfornia's 2009 "Best Place To Raise Your Kids" by BusinessWeek magazine.

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