The recently expanded Federal tax credit program, extended for a limited time, combined with historically low interest rates, and large price reductions in Irvine homes an condos, makes now a great time to buy a home in Irvine.
The existing Federal government tax credit program of up to $8,000 for first time homebuyers has been extended beyond its current expiration date of December 1, 2009, but only for a few more months. Even more exciting to potential Irvine buyers, is the same Federal program has been expanded beyond first time homebuyers to include up to $6,500 in tax credits to existing homeowners who have owned their homes at least 5 years.
In order to qualify for the Federal tax credits, Irvine buyers must sign a home purchase contract by April 20th, 2010, and close escrow of the home or condo by June 30, 2010. In addition, the income eligibility limits to claim full credit amounts for both groups of homebuyers have been raised to $125,000 for individuals and $225,000 for married couples.
This revised Federal tax credit program gives more Irvine buyers the opportunity to buy a home at today’s super low prices. Since the peak in home prices in early 2006′, home prices have retreated almost 35% to 40% in many areas of Irvine, making today an exciting time to purchase a home or condo. Our expanded Irvine Homes for Sale webpage now lists all detahced homes curerntly listed for sale, and alos lists all detached home Tracts with name of builder and number of homes per tract. Also, our newly revised Condos for sale in Irvine webpage also lists all Condominium subdivisions, plus reporst all Condos currently listed for sale with all property details. For more information aobut Irvine Real Estate, feel free to call us anytime at: (949) 388-3396 or email us at: Info@eVantageRE.com
