You heard it right, California has just come out with a new tax credit.

The credit is worth up to $10,000, spread over three years. The credit is available to anyone who buys a newly built home or to first-time home buyers who buy a newly built or existing home as your principle residence .

A first-time buyer is defined as an individual, or an individual’s spouse, who had no ownership interest in a principal residence for three years before the date of purchase.

People who are not first-time buyers can get the credit if they buy a newly built home, but not an existing one.

In both cases, the home must be a single-family residence, attached or unattached, and be used as the buyer’s principal residence for at least two years.

The credit is equal to 5 percent of the purchase price or $10,000, whichever is less.

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List of features.

3 bed

2 bath

over sized garage

ocean views

located in pismo beach

For more information and to see more pictures please don’t hesitate to email me and i’ll get it right out to you.

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• Best Beach Resorts in the World (travelanswerman.com)

Image by Getty Images via Daylife

President Obama has approved the extension of the $8000 first time home buyer tax credit as well as a $6500 credit for repeat or move-up home buyers who have lived in their primary residence for five years or more. The credits will now end on may 1st.

There are a few stipulations to both credits but with low interest rates it is still a great time to buy property.

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• New and Improved Home Buyer Tax Credit (bloghomedenver.com)
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• $8,000 homebuyers tax credit extended (money.cnn.com)