According to a new article in Los Angeles Times, The survey of 22,000 homeowners who bought houses within the last 9 years  by Avid Ratings of Madison, Wis., found that current homeowners wanted to be “more practical” in making their home purchases.

Here’s a list of “What’s Hot” and “What’s Not”.

What’s Hot:

• Children’s playground, walking paths nearby
• Large kitchen with island
• Green features: high efficiency appliances, insulation & windows
• More space in secondary bedrooms
• Home offices or studies
• Main floor master bedroom
• Two or Three car garage
• Master bath with oversize shower & seating

What’s Not:

• Community clubhouse
• Swimming pools & health club
• Dog parks
• Golf courses
• Formal dining room
• Upstairs laundry rooms & home theaters
• Expensive “focal point” stairways
• Large expanses of glass in windows

The main focus is spaces & efficiency. No more 10 x10 bedrooms.  I certainly have seen this trend with buyers that I have worked with in the Tahoe Truckee area. Builders here have emphasized the great room concept in recent years- big space combining living, dining & kitchen areas. Extra family room, bonus room, home offices are desirable as well as large garage for all the toys. Also with numerous hiking, biking trails, parks nearby…Tahoe Truckee homes seem to have all the features that are on the homebuyers wish list. There is a healthy inventory of homes that are affordable in the Tahoe Truckee area right now. Coupled that with the low interest rate, homebuyers who are seeking  a Tahoe vacation home have a great opportunity to buy a home with all the desirable features.

So what do you think? Send me a note  and let me know what you want to see in your dream mountain cabin. I am always available to answer questions about real estate in the Tahoe Truckee area. Call me at 877-245-0797 or send me an email at anguyen@dicksonrealty.com

By Greyson Howard

TRUCKEE, Calif. — A program to help select Truckee home buyers with new-home down payments could be approved Thursday night by town council.

The down payment assistance program, if approved, would assist at least 20 households at varying levels of wealth.

“This is a program, that if council adopts, is ready to go, fully fleshed out,” said Town Manager Tony Lashbrook.

That means the application process would start Dec.. 18, lasting through Feb. 5, according to staff reports. If the town gets a lot of applications, a lottery would take place Feb. 18.

Help for the some 20 households would be divided among three categories: those who make up to 80 percent of Nevada County median income, those who make between 80 to 120 percent of median income and those who make between 121 to 160 percent of median income.

As an example, a family of four making $55,300 a year meets the 80 percent mark, a family of four making $82,900 meets the 80 to 120 percent bracket and a family of four at $110,560 hits the 121 to 160 percent level, according to staff reports.

The assistance will be in the form of 2 percent interest, 30-year deferred loans for low and moderate income applicants, and a 3 percent, 30-year deferred load for above moderate applicants.

Thursday’s meeting is at 6 p.m. at the Town Administrative Center at 10183 Truckee Airport Road.

Source: Sierra Sun

Last week, a new Homebuyers Tax Credit bill was signed into law. The bill extends the tax credit for first-time homebuyers (FTHBs), as well as opens it up to current homeowners who are looking to buy. And even if you aren’t looking to purchase – pass on this article to anyone you think might be in the market to do so. This is information that might benefit them greatly, and I’ll be happy to be of service to them.

Here is a brief overview of the Homebuyers Tax Credit – and its benefits – based on the new bill.

Tax Credit for First-Time Homebuyers

FTHBs (that is, people who have not owned a home within the last three years) may be eligible for the tax credit. The credit for FTHBs is 10% of the purchase price of the home, with a maximum available credit of $8,000.

Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

Tax Credit for Current Homeowners

The tax credit program now gives those who already own a residence some additional reasons to move to a new home. This incentive comes in the form of a tax credit of up to $6,500 for qualified purchasers who have owned and occupied a primary residence for a period of five consecutive years during the last eight years.

Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount.

What are the New Deadlines?

In order to qualify for the credit, all contracts need to be in effect no later than April 30, 2010 and close no later than June 30, 2010. Those in the military do have some special extensions on the timelines available.

What’s So Great About a “Tax Credit”?

The benefit of a tax credit is that it’s a dollar-for-dollar benefit, rather than a “tax deduction”, or reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a first-time homebuyer who qualified for the entire benefit were to owe $8,000 in income taxes and would qualify for a tax credit of $8,000, she would owe nothing.

Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little or no income tax liability. For example, if a first-time homebuyer is eligible for a tax credit of $8,000 but is liable for $4,000 in income tax, she can still receive a check for the remaining $4,000!

Higher Income Caps

The amount of income someone can earn and qualify for the full amount of the credit has been increased.

Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.

Joint filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.

Maximum Purchase Price

Qualifying buyers may purchase a property with a maximum sales price of $800,000.

Remember, the new tax credit program includes a number of details and qualifications. Call or email today if you have questions or would like to see if you can benefit from the tax credit…and pass this article along to anyone else you feel it might benefit as well!

Do I Qualify

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