Time is running out to get the "double dip" combined Federal and state tax credit for first time home buyers. In order to get both credits, a first time home buyer needs to enter in to a contract to purchase real property by April 30th and close escrow no later than June 30.
According to the article provide in the link below, over 20,000 homes were sold last month Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. March's home sales were up 33% from the 15,000 homes sold in February.
What does this mean? Well, not only will it be extremely difficult to get both credits at this point in time but it seems that the state tax credit will not last very long, perhaps a week or two.
If you are in the house hunt, you'd better get moving...FAST!!!!
Jared Wilson
Realtor
Pasas Properties
858.336.8677
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