A Market Action Index above 30 implies conditions in favor of the real estate Seller.  An index below 30 favors the real estate Buyer. Local conditions in Vista are currently in the Buyer’s Market Zone (below 30) though not strongly so. The 90-day Market Action  Index in Vista is at 22 so Buyers should find good options.

August on the whole continues to be a great time to buy real estate in Vista. Distressed properties continue to come on the market, and real estate Buyers are rushing to make offers. Before the kids go back to school, sellers want to get their homes into escrow, and buyers should go searching and be ready to make a move.

Any single family residence in Cardiff, Encinitas, Carlsbad, Oceanside, or Vista (including condos, townhomes, or mobile homes) qualifies if the home buyer will use it as a principal residence. First-time home buyers may qulify for this tax credit even if they own a vacation home or rental property, as long as those properties were not their primary residence for at least three years preceding the purchase of their new home.

This tax credit reduces income tax liability for the year that the first-time buyer purchases a property in Cardiff, Encinitas, Carlsbad, Oceanside, or Vista. Any unused amount of tax credit is refunded to the first-time home buyer when they file their tax return.

For the purpose of this tax credit, a first-time homebuyer is defined as a purchaser (and purchaser’s spouse) who has not owned a primary residence in the three-year period ending on the date of purchasing this home. As a first-time home buyer, you don’t want to miss out on this opportunity to purchase a home in Cardiff, Encinitas, Carlsbad, Oceanside, or Vista before the end of 2009.