There seems to be some discuss on some other forums, that tax-payers will not be allowed to combine the two Tax credits. I can’t find any supporting evidence of this. The actual code doesn’t stipulate to that effect.

I’ll tell you one thing: I just got 2 buyer’s into contract within the past week, both of whom should be able to qualify for BOTH credits! Their contacts are fully ratified before the April 30th deadline, for the Federal Tax Credit and they’re both scheduled to close within the first 2 weeks of May. Thus enabling them to qualify for the California Tax Credit!

Not only is it a nice surprise to qualify for Uncle Sam’s $8k tax credit…now they can totally unexpectedly qualify and receive the new California $10k tax credit. (although, their is a cap to the California credit, it’s either $10k or 5% of the purchase price, whichever is less).

I have quite a few clients who ask about making bids at the public auction at the county courthouse steps; and I typically advise them that ‘steals’ are extreme exception, and not the rule. Those late night infomercials skew the truth.

Glad you you enjoyed the videos! We’ll keep em coming