Survey Finds Federal Tax Credit for First Time Home Buyers Critical

A Recent C.A.R (Califonria Realtor's Associaton) survey found that nearly 40% of first-time home buyers said they would not have purchased their homes if they did not receive federal tax credits offered by the federal government. Thankfully, this insightful survey has been published during a critical time in which Congress is deciding to extend the tax credit beyond its December 1st deadline. Hopefully it will serve to persuade Congress to not only maintain the tax credit, but increase it.

Its no secret that California homes, and especially those built in the Santa Barbara area, cost well above the national average. Additionally, California was one of the most affected states by the mortgage crisis. Therefore, I think first-time home buyers interested in Santa Barbara real estate can really benefit from these tax credits. Lets keep our fingers crossed as Congress comes to a decision!