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August 25th, 2009
Time Running Out For First Time Buyer Credit!!!!
Carlsbad, CA – If you are a Carlsbad, La Costa, Oceanside, or San Marcos buyer who was hoping to take advantage of the first time home buyer’s tax credit – YOU BETTER HURRY! We are finding a number of things in the current market place:
1. The tax credit expires on December 1st, 2009. That means all real estate purchases have to be CLOSED before then. You can not still be in escrow. Read the rest of this entry »
August 5th, 2009
La Costa Real Estate For Sale – First Time Buyer Credit To End SOON
La Costa, Carlsbad, CA – The $8,000 first-time buyer tax credit program ends in at the end of the year. The rules state that purchase needs to be completed and the house CLOSED by NOVEMBER 30th in order to receive the tax credit.
What is the first time buyer tax credit?
It is a tax refund for 10% the purchase price of a primary residence (up to $8K). If you do not use the entire $8,000 on your 2009 tax return , the remainder will be refunded directly to you.
Who is eligible to receive the credit?
First-time home buyers and those who have not owned a principal residence in the last three years prior to purchase.
Are there income limits?
Yes. The full amount is given to:
Individuals with adjusted gross income less than $75k
Married filing jointly with adjusted gross income less than $150K per year
There is a phase out between:
$75K and $95K for individuals
$150K and $170K for joint filers.
Because a normal real estate transaction takes between 40 and 60 days to close, TIME IS RUNNING OUT! A short sale may already be too late. If you want to discuss this further, contact us today.
August 5th, 2009
La Costa Real Estate News – La Costa Town Square Update
La Costa, Carlsbad, CA – On July 15th, the Carlsbad City Planning Commission voted unanimously to approve the development of La Costa Town Square.
Aspen Properties will be meeting with the Carlsbad City Council on Tuesday, August 11th at 6 pm in the City Council offices at 1200 Carlsbad Village Drive – one block east of Pio Pico Park. This will be one of their final hurdles in the actual approval of the process. All residents are encouraged to attend the meeting and voice your opinions. For anyone who can not attend, we will be notifying everyone of the outcome on this blog on either the 12th or 13th. If you have any questions prior to that time, please contact us. Read the rest of this entry »
July 27th, 2009
Two Tips for Carlsbad Parents Buying Homes for Children
Carlsbad, CA – With Carlsbad and La Costa home prices low, now many parents are thinking of buying their children a home or investment property. If you are considering this type of gift, please be mindful of the tax consequences.
1. Give a cash gift. Although some parents want to (and can afford to) purchase a house for their children, many want to help but are not in the position to gift the entire cost of the home. Parents are allowed to gift up to $13,000 per person per year without incurring gift tax. This means two parents could give their child and spouse up to $52,000 per year to go toward a down payment.
2. Lend money. Rather than gifting, you may prefer to loan money. In order to avoid taxation, the government requires that loans from family members meet or exceed minimum loan rates to avoid having the loan be considered a gift.
If you have any real estate or mortgage questions about Carlsbad, La Costa, or other coastal areas, please contact us.
July 2nd, 2009
Up to $32k in Incentives at La Costa Oaks Starting At $600k
Would YOU like a luxury home in La Costa Oaks for as low as $600,000? 
Would YOU like up to $32k in incentives through using the Mewborn Team?
This past Saturday was the opening of Rockledge in La Costa Oaks, in Carlsbad, CA. We stopped by Saturday morning just to see the traffic. It wasn’t nearly as busy as the grand opening of Copperwood in La Costa Oaks about a month ago. So, we wondered about the potential immediate success of the development. It seemed to me that given the AMAZING price range for being part of my much loved La Costa Oaks subdivision, that the community would be much busier that morning.
Mike & Amy Mewborn Real Estate Specialists
Mike: 858.205.2000
Amy:760.213.6653
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