Beautiful & Affordable New Listing

Anaheim Hills Single Story View Home only $369,900 - SOLD
See a Visual Tour at: www.137Larkwood.com
Come by the Open House this Sunday and Bring a Friend

Distressed Home Owner Free Public Seminar

First Team Real Estate will be Sponsoring a Free Seminar for Home Owners that are having problems making their payments and want to know their options. Tell anyone you know who may need this help.
Saturday May 15 from 10:00am to Noon at the Anaheim Hills Community Center - Santa Ana Canyon Rd just west of Weir Canyon Rd

Some of the topics discussed:
Loan Modification Programs
Foreclosure Prevention
Balancing Personal Finances
Short Sale vs Foreclosure
Understanding Credit Reports and Scores

A Private Consultation is also available for those who prefer - just call us to schedule.

FORECLOSURE FRIDAY

These are the Bank Owned Homes in North East Orange County.

Email us for a Customized List.

Click on the Chart to Enlarge.

FORECLOSURE FRIDAY

These are Bank Owned Houses Now on the Market in North & Central Orange County. Call us if you would like a Customized List. You can Click on the Chart to Enlarge.

FORECLOSURE FRIDAY

These are North Orange County Bank Owned Detached Houses. For a Customized List, Call or Email Us. Click on the List to Enlarge.

$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.

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.