San Diego Condos, Homes and Real Estate News

President Barack Obama has authorized the extension of the first-time homebuyer tax credit from the current deadline to April 30, 2010.

The $8,000 first-time homebuyers tax credit was set to expire on November 30, but will now be extended into the spring.  Eligible first-time Downtown San Diego Home Buyers include those defined by law as a buyer who has not owned a principal residence during the three-year period prior to the purchase.

The program also expands to benefit current homeowners, including those who own Downtown San Diego Condos allowing them to collect $6,500 if they have lived in their existing homes for at least five years and are looking to buy a new one. 

Read Also: Turning Tough times into Downtown San Diego Real Estate Positives

To qualify for the credit, the home must have been purchased after Nov. 6, 2009, and before May 1, 2010.  However, a purchases agreement signed by April 30, 2010, will qualify if it closes by July 1, 2010. 

Any Downtown San Diego Condo meets the requirements, provided they are purchased for a price less than or equal to $800,000 and are used as the principal residence. 

There are certain income limits for those claiming the tax credit on a Downtown San Diego Real Estate Home.  For single taxpayers the income limit is $125,000 and for married tax payers filing a joint return the income limit is $225,000. 

Taxpayers who exceed an income of $145,000 as singles and $245,000 as married do not qualify for the tax credit and those who are in between these amounts will receive partial credit.

The tax credit is refundable.  Meaning that if the tax credit amount you qualify for is larger than the amount of income taxes you owe, the government will send you a check for the difference.

For further information on any Downtown San Diego Condos contact:

Gregg Neuman

Gregg@sellSanDiego.com

1-800-221-2210

www.SellSanDiego.com

The senate has reached a compromise on plans to extend and expand the current $8,000 first-time homebuyers tax credit.

The tax credit, benefiting Downtown San Diego Home Buyers is scheduled to expire at the end of November 2009.  The compromise extends this date to April 30, at which time sales agreements must be signed and are given until June 30 to close. 

The compromise expands to include many buyers who already own homes, including Downtown San Diego Homes.  The modified plan will offer a new credit of up to $6,500 for homebuyers who have been residing at their existing residence for a consecutive five-year period in the past eight years. 

Read Also: Recent Survey Reveals Many Downtown San Diego Home Buyers Rely on Government Mortgages

The plan also expands to include a higher income limit, couples earning as much as $225,000 and individuals earning as much as $125,000 would qualify for the extended break. 

That's up from the current $150,000 and $75,000 and creates an incentive to purchase Downtown San Diego Condos.

Representatives of both the Department of Treasury and the Department of Housing and Urban Development (HUD) are in full support of the senate's proposal. 

Meanwhile, economic advisers state a rise in the existing-home purchases by 9.2% year over year in September, giving merit to the first-time homebuyers tax credit.

The additions to the tax credit are intended to expand availability of the credit beyond first-time buyers and to prevent home sales from slipping as the economy struggles to recover. 

Although lawmakers have reached a compromise, details are still uncertain about how it will be proposed on the senate floor.

For further information on any Downtown San Diego Condos contact:

Gregg Neuman

Gregg@sellSanDiego.com

1-800-221-2210

www.SellSanDiego.com

The kitchen is one of the key aspects considered when it comes to increasing the value of a selling home, including a Downtown San Diego Condo!

In today's busy lifestyle, this room has evolved to become a multi-use space.  The kitchen is the perfect area for accomplishing daily tasks, such as bill paying, homework and of course cooking and it is also the homes social core when it comes to Downtown San Diego Real Estate. 

The kitchen's appearance affects the entire outlook of the house, if it is worn-out and outdated, the whole Downtown San Diego Home can feel that way. 

Therefore it is crucial that the kitchen is crisp and inviting, a goal that can be accomplished by simply updating certain aspects. 

Tip number 1 - Add color and light to the room. This method is the easiest and most cost-efficient.  Implement color schemes inspired by nature and top off with under-cabinet lighting to add energy and establish a tranquil atmosphere.

Tip number 2 -  Pay attention to visual cues. Cabinets in need of a paint job, mismatched appliances and worn flooring should be taken care of if the budget permits.

Tip number 3 -  Add sparkle. This implies replacing the metals palette including cabinet hardware, faucet, lighting and outlet covers. 

Incorporate these valuable tips in your Downtown San Diego Condo. Whether it is for personal enjoyment or to facilitate the house off the market, these tips will modernize the entire kitchen and at the same time increase the worth of the Downtown San Diego Real Estate Property. 

For further information on any Downtown San Diego Condos contact:

Gregg Neuman

Gregg@sellSanDiego.com

1-800-221-2210

www.SellSanDiego.com

A recent survey released by John Burns Real Estate Consulting reveals that government intervention has been a key factor to new-home sales this year.

According to the survey, 59% of sales in 2009 have been dependant on low down-payment government mortgages such as FHA, VA or USDA financing programs with 96.5% to 100% LTV.  These loans have also helped in the purchase of many Downtown San Diego Condos this year.

This survey is based on of 262 home building industry executives from public and private companies.  In total, their insight is reflective of on-the-ground conditions in 86 MSAs (Metropolitan Statistical Area) and 1,741 communities. 

Read Also: Take the Mystery Out of Buying Real Estate In Downtown San Diego

Traffic is slowing down in the new-home market, but home builders have hope in the effort to extend the federal tax credit and that the FHA is going to become more conservative to help the market improve, which is also hope for the Downtown San Diego Real Estate market.

The survey proves that there was a significant decline in inventory, with the average unsold, finished inventory per community decreasing nationally to 2.7 from 3.7 last month.  Average net sales per community dropped from 2.0 to 1.6 nationally, returning to levels last seen in June and July.

The survey also shows that the direction of new San Diego Real Estate home prices was unchanged nationally this month, and remains hovering near flat, as builders report further decreases in prices.  Builders started more homes in 4 of 10 regions, and trimmed starts in 3 regions.  The Northeast, Southeast and Northwest regions are all reporting increased starts in the 8% to 9% range.

For further information on any Downtown San Diego Condos contact:

Gregg Neuman

Gregg@sellSanDiego.com

1-800-221-2210

www.SellSanDiego.com

Sold recently for $30,000 (4%) less than the listed price, this two bedroom, two bathroom, Aperture Downtown San Diego Condo sold for only $690,000!!

One of the 11 story Aperture Downtown San Diego Condos Community's very spacious 86 units, this 1313 square foot one story condominiums home enjoys views of the bay and the evening lights from an outside terrace!! With everything at entry level, the master suite with a walk in closet and dual sinks and the second bedroom are split for privacy.

The kitchen features polished granite countertops, Euro styled flat panel cabinets and stainless steel appliances. A dining area and a full sized laundry in closet are extras you don't expect to find in a Downtown San Diego Condo this size!!

Read Also: Cozy and Roomy Aperture Downtown San Diego Condos - Sold for $325,000!

Two underground assigned parking spaces are provided by the Aperture community. Located at 1494 Union Street, in the wonderful Little Italy neighborhood of downtown San Diego west of I-5, you are a part of the old world charm of Little Italy, with its many festivals and street fairs, and right in the excitement of the City of San Diego, with so many nightlife activities and restaurants you will never see them all!!

Balboa Park and the Zoo, Horton Plaza for shopping, and Seaport Village and the harbor--it's all within easy range of Downtown San Diego's Little Italy!!

To see the remaining Little Italy Downtown San Diego Condos that are currently for sale with photos, floor plans, prices:

Little Italy Downtown San Diego Condos For Sale

For further information on any Downtown San Diego Condos contact:

Gregg Neuman

Gregg@sellSanDiego.com

1-800-221-2210

www.SellSanDiego.com