The California Association of Realtors reports that the newly signed California budget provides for a tax credit of up to $10,000 for new home buyers. The credit will apply to purchases made between March 1, 2009 through March 1, 2010. Buyers are eligible for a credit equal to 5% of the purchase price of the home u to a mxaimum of $10,000. It does not apply to the purchase of existing homes; but it does apply to any buyer (not just first time buyers) as long as they are purchasing a primary residence.
Rice Ranch is a master planned commmunity of new homes and condos in Orcutt California. On Labor Day, I visited the models at Rice Ranch in nearby Orcutt, California. Rice Ranch is a master planned community which will have new single family homes, high end condominiums, and a 26 acre sports complex and community park. The Orcutt California community will have over 300 acres of preserved open space. After viewing the master planned community, “Summerlin,” in Las Vegas over the Labor Day weekend, I was sold on the concept of a master planned community and curious to see how Rice Ranch was turning out.