Real Estate Update 2009-1Q

Nevada County Real Estate Update is intended to keep you informed about real estate opportunities as well as upcoming local events.  We provide you highlights and links to more information on the web.

We hope you enjoy our Real Estate Update and look forward to seeing you around the area! Sincerely,John and Sandra
Nevada County Properties

What new Housing Stimulus packages could mean for you!
In the last few weeks both the State of California and federal government have passed stimulus packages benefiting both new home buyers and current homeowners.

• First-time homebuyers may be eligible to receive up to an $8,000 federal tax credit  ($4,000 for married filing separately.)
• A California tax credit of up to $10,000 for the purchase of qualifying new homes.
• The federal Making Home Affordable program is intended to “offer assistance to as many as 7 to 9 million homeowners who are making a good-faith effort to make their mortgage payments.”

Two primary goals of the Making Home Affordable plan are:

1. To allow homeowners who are current on payments in existing Fannie Mae or Freddie Mac loans to take advantage of today’s lower interest rates through refinancing.
2. To help homeowners who are at risk of foreclosure keep their homes.

Other great resources include: