A new modern-style home hit the market in Laguna Beach a few days ago, boasting ocean views.
Located at 897 Diamond Street in the Laguna Village, this home is listed at $4,295,000 and has 4 bedrooms, 4.5 bathrooms and 5,050-square-feet on a .37-acre lot.
That comes out to $850 per square-foot.
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The listing description touts:
“Architecturally stunning, brand new hillside home perfectly crafted in the modern style. Panoramic ocean and Catalina Island views blend effortlessly with the gentle curves and floating aspect of this home’s unique design. World-class design elements include 20′ mitred glass view windows, exotic hardwood cabinets, honed marble floors, a constellation of ceiling lights arranged in a natural pattern, sublime German and Italian fixtures, a natural grass roof over the 3-plus-car garage, custom doors and stainless steel railings, aesthetically pleasing lines, art niches and pocketing sliders, elevator servicing all 3 levels, 4 fireplaces, and designer glass tiles and backlit mirrors. This home is ideal for those who appreciate sophisticated design and artistically ceative architecture. Designed by one of Laguna’s top architects, David Parker. Huge lot affords privacy. Home is set far back from the street on it’s own private drive.”
This home is newly built, so this is a good time to bring up the California 2010 New Home Credit, which begins May 1. I know, when you’re spending this kind of dough on a home, a couple thousand dollars doesn’t mean much in the long run.
But, for the sake of discussing the tax credit, this home would probably be eligible because it is a new construction. Though the home was once occupied before it was rebuilt, it may still qualify.
A home that meets all qualifications for the tax credit must be purchased on or after May 1 and before Jan. 1, 2011. A 5% discount of the purchase price or $10,000 is available for taxpayers eligible for the credit.
Per the tax credit’s rules, the residence must fall under the following:
- “Be a single family residence, either detached or attached. This can be a single family residence, a condominium, a unit in a cooperative project, a house boat, a manufactured home, or a mobile home. A home constructed by the taxpayer is not eligible since the home has not been “purchased.”
- Have never been occupied. Sellers must certify that the home has never been occupied in order for a taxpayer to receive an allocation of the credit.
- Be eligible for the California property tax homeowner’s exemption.
- Be occupied by the taxpayer as their principal residence for a minimum of 2 years immediately following the purchase.”