$18,000 in Combined Homebuyer Tax Credits for a Limited Time

Californians have a brief window of opportunity to receive up to $18,000 in combined federal and state homebuyer tax credits. To take advantage of both tax credits, a first-time homebuyer must enter into a purchase contract for a principal residence before May 1, 2010, and close escrow between May 1, 2010 and June 30, 2010, inclusive. Buyers who are not first-time homebuyers may use the same timeframes to receive up to $16,500 in combined tax credits if they are long-time residents of their existing homes as permitted under federal law, and they purchase properties that have never been previously occupied as provided under California law.

Under the federal law slated to soon expire, a first-time homebuyer may receive up to $8,000 in tax credits, and a long-time resident may receive up to $6,500, for certain purchase contracts entered into by April 30, 2010 that close escrow by June 30, 2010. Additionally, under a newly enacted California law, a homebuyer may receive up to $10,000 in tax credits as a first-time homebuyer or buyer of a property that has never been occupied. The new California law applies to certain purchases that close escrow on or after May 1, 2010 (see Cal. Rev. & Tax Code section 17059.1(a)(4)). California law generally allows buyers of never-occupied properties to reserve their credits before closing escrow, but buyers seeking to combine the federal and state tax credits will not be able to satisfy the timing requirements for such reservations (see Cal. Rev. & Tax Code section 17059.1(c)(1)(A)). Other terms and restrictions apply to both tax credits.

What's Listed For Sale Today in the Weir Canyon area

There are 59 Homes Listed for Sale in the Weir Canyon area of Anaheim Hills today, these are all of the listings by all brokers. The Address and Prices are Listed Below:
21 of these homes are Short Sales
6 of these homes are Bank Owned

New California Home Buyer Tax Credit for 2010 & 2011

Governor Arnold Schwarzenegger signed a bill offering California’s second round of tax credits to buyers who purchase a home in the Golden State. This time, the state has doubled to $200 million the amount of credits it will allow. The bill allows up to $10,000 in tax credits, both for new-home buyers and for first-time buyers of existing homes. The last round of tax credits, which were for new-home purchases only, were extremely popular. Sales of newly built homes rose, and buyers depleted the full $100 million eight months before the deadline. The state tax credit will become effective May 1, shortly after a federal tax credit expires. The bill:

• Provides a 5 percent tax credit, up to a $10,000 limit, to all buyers of new, never-occupied homes.
• Provides a 5 percent tax credit, up to a $10,000 limit, to first-time buyers of existing homes.
• Sets aside $100 million for each program, for a total of $200 million.
• Requires buyers to close escrow between May 1 and Dec. 31 to qualify.
• New-home buyers have until Dec. 31 to sign a purchase contract, and then must close escrow by Aug. 16, 2011.
• Requires buyers to live in the home for at least two years.
• Provides for the tax credit to be paid in thirds over a three-year period. Buyers can waive whatever state taxes they owe – up to $3,333 – in each of the three years after buying a $200,000 or higher priced home.
• Sets no income limitations on buyers.
• Requires buyers to repay the tax if they fail to live in the home for two years or fail to close escrow on a new home by Aug. 16, 2011.

Recent Sales in the High End of Our Market

Three Homes went into escrow this past week in the Higher Price Range!

First Team Estates won 1st place during the “2010 Leading Real Estate Companies of the World Marketing Contest” in the “Luxury Portfolio” category for our "Live Beautifully" luxury listing presentation. First Team Estates also claimed 2nd runner up honors up for our "Live Beautifully" print advertising campaign as seen in Riviera Magazine. Over 600 top real estate companies are members of Leading Real Estate Companies of the World and can compete for the coveted awards

Local DEALS ON MEALS in the Weir Canyon area:
First Class Pizza in Anaheim Hills, Weir & Serrano by Ralphs Grocery - Some of the BEST food at any price and one of my Favorite pizzas - Get online coupons at:  www.first-class-pizza.com/
Pick-up Stix - Buy 1 get 1 FREE, print the coupon at:  http://www.pickupstix.com/offers/dragondeals/

Chick-fil-A  In March - What ever you buy on Friday - Bring the receipt back before the end of the month and get the same meal for FREE! Also - FREE breakfast at the Savi Ranch Chick-fil-A on Monday mornings in March

Tully's Coffee is Now Open in the old Starbucks location at Weir & Serrano - Look for Grand Opening Specials in April

Let me know if you see any other Meal Deals in the area or if your Restaurant has a special. jim@jimsalem.com

Today there are 42 Homes in Escrow in the Weir Canyon Area of Anaheim Hills.
Here are the addresses and the List Prices of the Homes in Escrow, the Final Sales Price may be Higher or Lower and won't be published until the Home closes escrow.
If you want to know the Final Sales Price of certain homes, email the address to us at jim@jimsalem.com and when it closes escrow, we will email the Sold price to you.

OUR BEAUTIFUL NEW ANAHEIM HILLS LISTING! 8505 E. MEADOWRIDGE ST

See a Visual Tour at http://www.8505meadowridge.com/  only $599,900

Resort Style Living! Beautiful, Highly Upgraded Home with Private Pool/Spa and Breathtaking Panoramic Views! 3 Bedrooms plus a Den/Office with Built-in Desk & Bookcase. 2.5 Bathrooms. Great Location at the end of a Quiet Cul-de-Sac. Inviting Front Door with Etched Glass. All New Kitchen with Custom Cabinets, Granite Counters, Stainless Appliances and Garden Window. Hardwood,Plank Wood Flooring Throughout. Smooth Textured Vaulted Ceilings. Upgraded Floor & Crown Molding. Decorator Lighting Fixtures. Designer Paint. New Energy Efficient Windows and Doors. Custom Window Shutters. Elegant Marble Fireplace in Living Room and Second Stone Fireplace in Family Room. Remodeled Guest Bath with New Granite Topped Vanity. Decorative Metal Railings. Lush Professional Landscaping with Auto Sprinklers and Spot Lighting. New Water Heater. Newer A/C and Rebuilt Furnace. Insulated Roll-up Garage Door with Windows and Opener. Tile Roof. Possible RV Access on Side. Low Property Taxes & No Mello Roos Tax!

There are currently 53 Active Listings in the Weir Canyon Area of Anaheim Hills
21 of those are Short Sales and 5 Are Bank Owned
There are Currently 43 Homes in Escrow in the Weir Canyon Area of Anaheim Hills
28 of those are Short Sales and 4 are Bank Owned

These are the Detached Homes Now Listed for Sale in the Weir Canyon Area of Anaheim Hills

These are the Attached Homes and Condos Now on the Market in the Weir Canyon Area of Anaheim Hills