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CA Homebuyer's Tax Credit Extended, Expanded

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(Sacramento, CA)
Thursday, March 25, 2010
200 million dollars is set aside for the new program: Half for first-time buyers who purchase an existing home, and half for any buyer who purchases a brand new home.

“We’re going to see hundreds of Californians take advantage of this credit and be able to move themselves and their families into homes.”

That’s Democratic Assemblywoman Anna Caballero, who co-wrote the legislation. She says it will reduce the number of vacant homes, which hurt property values.   Governor Schwarzenegger signed the bill at a housing development in Fresno…and he said it will also help the state’s economy:

“This is going to help of course the building industry and it will create a lot of jobs.”

The program starts in May. It’s first come, first served, and it may go quickly. A similar credit last year ran out of money within four months
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