California Tax Credit Almost Gone
June 19th, 2009 categories: Folsom CA, Folsom Lake Homes, Home Building, Home buying
New Home Sales in Folsom CA driven by Tax Credit
According to the National Mortgage News article of June 18, 2009 the tax credit granting new home buyers $10,000 will soon be gone. Apparently there is a cap of $100 million and the governor’s office said “there is a bill to extend it or increase the money allocated.” The expiration date is March 2010 but it might not last until the end of 2009 at this rate.
According to the sales rep at Elliott Homes this has accounted for the majority of sales in their Chelsea subdivision for March and April. Folsom doesn’t have much left in the way of new home builder’s since Elliott purchased the last of the remaining land in Empire Ranch. Originally Empire Ranch consisted of about a dozen different builders offering a variety of homes styles. What is left are a couple of condo developers and some custom lots in the Hillcrest subdivision.
For related articles: http://folsomlakehomes.com/2009/02/24/tax-credit-for-new-homebuyers/
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