• Market confidence higher as a result of outstanding pricing, low interest rates, federal and state tax credits
SAN MARCOS (April 7, 2009) – Demand for new homes is increasing, and San Diego builder Brookfield Homes is meeting the need with the recent release of four new homes for sale at Mahogany in San Marcos. Not yet under construction, the view-oriented home sites have floor plans that are ready to be customized with options according to each buyer’s preferences.
“Mahogany has sold four homes within the last few weeks, and we continue to see positive reactions from prospective buyers,” said Lora Heramb, vice president of sales and marketing for Brookfield Homes. “There’s more confidence in the market as a result of outstanding pricing, historically low interest rates and potential federal and state tax credits of as much as $18,000.”
With prices starting from the mid $600,000s, Mahogany is a neighborhood of distinctive single-family homes located in the picturesque hilltops of San Marcos. All four homes just released for sale offer open space vistas, and two of the four are situated along the ridge for even greater view opportunities. Additional homes are available for immediate move-in.
Mahogany homeowners are close to multiple community parks and amenities, including an extensive network of hiking trails. Just east of Rancho Santa Fe Road and south of San Elijo Road, the area has an abundance of retail shopping, conveniences and restaurants.
The two-story homes at Mahogany range from 3,090 to 3,875 square feet and have four to five bedrooms, 3.5 to 4.5 bathrooms and two-car-plus garage spaces. For more information, call 760-752-3001 or visit the sales office at 1756 Burbury Way, San Marcos.
Mahogany sales representatives are available to discuss recently announced federal and state tax credits. A California tax credit of $10,000 is now offered for the purchase of a new home in the state. Available for a limited time, the tax credit is available only to new-home purchasers, who must live in the home for at least two years. There are no income limitations for the purchaser and no “first time buyer” restrictions. Also, there is no repayment requirement (unless the purchaser sells or rents out the home before two years have past from the close of escrow).
In addition, first-time homebuyers may qualify for an $8,000 federal tax credit announced as part of American Recovery and Reinvestment act. If a buyer qualifies for both, their total tax credit for buying a newly constructed home would be $18,000. (*Please note disclaimer below.)
Brookfield San Diego Builders, Inc. builds homes throughout San Diego and Riverside counties. Brookfield currently is building in the master-planned communities of Windingwalk in Chula Vista, The Estates at StoneBridge east of Scripps Ranch in San Diego, Old Creek Ranch in San Marcos and Morningstar Ranch in Winchester. For more information about Brookfield communities and to learn about the company’s signature construction differences, visit www.brookfieldsd.com.
*This is not a representation or guarantee of eligibility for a federal tax credit, state tax credit or any other tax benefits of homeownership. The $18,000 tax credit is a combination of an $8,000 federal tax credit and a $10,000 California tax credit. Eligibility requirements are different for each program. To qualify for the federal tax credit, homebuyers must close on their home before December 1, 2009. Federal tax credit is for first-time homebuyers or anyone who has not owned a home in the last 3 years. To qualify for the California state tax credit, homebuyers must close on their home before March 1, 2010. California tax credit applies over a three-year period against your tax obligation. For each program, additional income limitations, ownership conditions, repayment requirements, and other restrictions and requirements apply. Since individual tax and financial circumstances will vary, see your financial and tax advisors for details and information on the tax credit for each program. See sales counselor for details. Equal Housing Opportunity.