I wanted to send this post out as soon as this listing became available! Here’s a GREAT and wonderful Mountain Home in Big Bear, available at an unbelieveable price!

This isn’t a run-of-the-mill Big Bear cabin … this is a jewel among Big Bear homes. Located in the preferred Moonridge area of Big Bear Lake, this home provides SIX BEDROOMS and 4 1/2 baths in 2,812 square feet of living space! There’s tons of room for your family and a couple of guest families to really spread out!

That’s what happens when you live in a wonderful place like Big Bear! Most folks who move to our great Big Bear area find out very quickly just how many friends they have … that they never knew they had! Everybody wants to “drop in for a visit” … that lasts a whole weekend!

That’s why this is the perfect type of place for a full time Big Bear home. You’ve got room to accommodate all the guests, extended family members … everything handled in comfort at any time.

And what more in the way of ambience could you want? The exterior deck, patio, and gazebo areas are spectacular. Entertaining in this home is a dream. Sitting in the spa … taking in the ski slope and lake views … what a great place to get away from it all … and to call “home” at the same time.

Whether you’re looking for a full time home, a vacation get-a-way, a corporate retreat, or to invest in a vacation rental with amazing potential, this is one Big Bear home you won’t want to miss.

I’ve been dealing with Big Bear real estate for over 30 years now, and this is an amazing property at a great price.

Contact me today for further information and to arrange a showing! You’ll be glad you did!

Have a GREAT Day!

Janet Stevens-Moore
Broker/Owner ERA Bruin Trojan Realtors, Inc.
Big Bear Lake, California
909-585-4991

http://janet4bigbearhomes.com

janet@janet4bigbearhomes.com

NEW TAX REGULATION FOR HOME BUYERS

New Incentives and Restrictions …

… Where Do You Fit In All This?

Homebuyer Tax Credit Extension Signed into Law

There are some interesting new tax laws that present significant advantages to today’s home buyers. The Worker, Homeownership, and Business Assistance Act of 2009 (Act), was approved by Congress, signed by President Obama, and became law on November 6, 2009. Here’s a summary of the final provisions:

The Act extends and expands the first-time homeowner’s tax credit of $8,000 that was scheduled to expire at the end of November, 2009. Two additional categories of “first time homebuyers” are now entitled to a tax credit if certain conditions are met.

If you are eligible, you must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2010, and you must close escrow on the home by June 30, 2010.

The definition of a first-time homebuyer is expanded to include a second group of people. For the $8,000 credit, you are still considered a first-time homebuyer if you haven’t owned a home for the previous three years. The credit is 10% of the purchase price of the home. The full credit will be available for most homes costing $80,000 or more.

A third category of people are now eligible for a reduced tax credit. The new law provides a credit of up to $6,500 ($3,250 for a married individual filing separately) to current homeowners buying a replacement principal residence, as follows: “In the case of an individual (and, if married, such individual’s spouse) who has owned and used the same residence as such individual’s principal residence for any five-consecutive-year period during the eight-year period ending on the date of the purchase of a subsequent principal residence, such individual shall be treated as a first-time homebuyer.”

The previous income limits still apply to purchases on or before November 6, 2009. Previously, there was a phase-out between $75,000 to $95,000 yearly for individual filers, and $150,000 to $170,000 for joint filers. The new law increases the income thresholds. For homes purchased on or after November 7, 2009, the credit phases out for individual taxpayers with modified adjusted gross income between $125,000 and $145,000, or between $225,000 and $245,000 for joint filers.

There is a limit on the purchase price of $800,000. In addition a new age restriction has been added. The buyer or the buyer’s spouse must be at least 18 years old on the date of closing for purchases on or after November 6, 2009.

If the home ceases to be the buyer’s principal residence or if the buyer sells the home or converts it to a business or a rental within three years after the purchase, the credit must be repaid.

To claim the credit, the buyer must file IRS Form 5405 with his or her original or amended tax return, and attach a copy of the purchase closing statement. For qualifying home purchases that close in 2010, the buyer has the option of claiming the credit on the 2010 return or on the 2009 return filed by April 15, 2010.

The first-time homebuyer credit is paid to eligible taxpayers even if they owe no tax or the credit is more than the tax owed.

As always with any tax information, you should consult a qualified tax professional to verify just where you fall in all of this. As you can see, there are things here that have been expanded and some that have become more strict as the laws were changed.

At any rate, there are some areas covered here that do open up significant new tax incentives for some home buyers. That … along with the fact that current home prices are at historic lows … means that now may be a very good time for some reading this to be purchasing a home.

If you’d like to discuss these new regulations as they pertain to you, or if you’re considering a home purchase or sale in the near future, I’d be happy to arrange to contact you personally at your convenience. You can always use the information on the “Contact Me” page of this site … or simply enter your information in the form to your right requesting a Personal Contact, and I’ll be in touch.

 Have a GREAT Day!

Janet Stevens-Moore
Broker/Owner
ERA Bruin Trojan Realtors

1-909-585-4991
janet@janet4bigbearhomes.com