California Tax Credit

California Re-Established & Extended $10,000 Homebuyer Tax Credit!

The Law: 

AB 183, signed by Gov. Arnold Schwarzenegger,

allocates $200 million to the credit for homes purchased between May 1 and Dec. 31, and between Dec. 31 and August 1, 2011. That's twice the amount allocated to a similar credit passed for purchasers of new homes last year. Those funds were quickly depleted and builders have been asking for the credit's return ever since.

California has extended the $10,000 Homebuyer Tax Credit to first-time buyers of existing homes as well as buyers of new homes. *The funds will be split evenly between the two groups, and buyers will have to occupy the home for at least two years.  This legislation is backed by the California Building Industry Association and the California Association of Realtors.

The credit will be paid out over several years and therefore lessen the blow to the cash-strapped state's budget.

Homes for Sale

• Single Family Residential
• 5 Beds
• 12 Baths
• 20,982 SqFt

27500 La Vida Real, LOS ALTOS HILLS

$36,999,000 ↓ $2,989,000

Listing Office: Deleon Realty

• Residential Lots and Land
• 0 Beds
• 0 Baths
• 0 SqFt

0 Chester Ave, SARATOGA

$36,900,000

Listing Office: Intero Real Estate Services

• Single Family Residential
• 5 Beds
• 7 Baths
• 7,178 SqFt

1700 Waverley St, PALO ALTO

$29,880,000

Listing Office: Compass

• Single Family Residential
• 37 Beds
• 22 Baths
• 24,062 SqFt

20600 Aldercroft Hts, LOS GATOS

$29,800,000 ↓ $3,000,000

Listing Office: Christie's International Real Estate Sereno

• Common Interest
• 0 Beds
• 0 Baths
• 3,000 SqFt

20600 Aldercroft Hts, LOS GATOS

$29,800,000 ↓ $3,000,000

Listing Office: Christie's International Real Estate Sereno

• Single Family Residential
• 3 Beds
• 4 Baths
• 3,200 SqFt

23600 Congress Springs Rd, SARATOGA

$27,500,000

Listing Office: Golden Gate Sotheby's International Realty

New

• Single Family Residential
• 4 Beds
• 6 Baths
• 7,504 SqFt

22100 Mount Eden Rd, Saratoga

$20,000,000

Listing Office: Golden Gate Sotheby's International Realty

• Residential Lots and Land
• 0 Beds
• 0 Baths
• 0 SqFt

70 N 27th St, SAN JOSE

$20,000,000 ↑ $8,000,000

Listing Office: Jefrey Henderson, Broker

• Residential Lots and Land
• 0 Beds
• 0 Baths
• 0 SqFt

275 Bolsa Rd, GILROY

$19,000,000

Listing Office: San Benito Realty

• Commercial Lots and Land
• 0 Beds
• 0 Baths
• 0 SqFt

275 Bolsa Rd, GILROY

$19,000,000

Listing Office: San Benito Realty

• Single Family Residential
• 5 Beds
• 9 Baths
• 10,462 SqFt

25893 W Fremont Rd, LOS ALTOS HILLS

$17,500,000

Listing Office: Deleon Realty

• Single Family Residential
• 4 Beds
• 6 Baths
• 7,727 SqFt

995 Matadero Ave, PALO ALTO

$16,988,000

Listing Office: Golden Gate Sotheby's International Realty

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Contacting the Boyenga Team is the best way to learn more about Silicon Valley real estate. Feel free to call us at 408.373.1660, 650.497.4645 or send Boyenga Team an email.