California Real Estate and Life

Wondering if you should buy a home….looking at those Short Sales and Foreclosures, and figuring they are the best deals?  The California Association of Realtors just released these stats:

“ Forty-nine percent of all buyers purchased a home through a traditional market sale, while 38 percent purchased a REO/bank-owned property, according to the survey. Reflecting the difficulty in closing short sales — properties selling for less than the loan amount — only 13 percent of buyers purchased a short-sale property. Home buyers who purchased a REO or bank-owned property experienced the highest level of difficulty in obtaining financing, compared with a more traditional transaction. They rated the level of difficulty as 8.9 (on a scale of 1 to 10 with 10 representing the greatest level of difficulty in obtaining financing) compared with a 7.7 for home buyers with a traditional market sale and 7.6 for short-sale home buyers.”  Courtesy of CAR Newsline

“Melinda is such a caring person and just a joy to be around.  She makes the office fun and a great place to come to everyday.  She cares about people whether it’s her peers at the office, business associates or her clients.”  This was written by Cheri McRae co-owner of  Sun Lakes Realty in Banning, CA .

A simple thank you to someone that has touched us/helped us isn’t really hard, but how many of us actually take the time to do it? 

If you are looking to buy a home in one of these three Active Adult Communities: Sun Lakes Country Club, Solera at Oak Valley Greens or Beaumont’s Four Seasons call Melinda. All three of these developments are Guard Gated Resort Style communities in Banning and Beaumont.

Although Melinda and I work for different Real Estate Offices, I would easily recommend her to anyone that wants to buy or sell a home in Sun Lakes Country Club in Banning, Ca.

You can contact Melinda Jones at (951) 845-7378  if you need a Professional Seniors Real Estate Specialists® for one of these three 55+ Resort Style communities in Banning or Beaumont, CA.  I know this because I worked with Melinda.

If you need someone to help you buy or sell a home in  the 55+ Community of  Serrano Del Vista call me, Kathy McGraw :)

It is that time of year again when California is subject to wildfires.  That time of year when people are evacuated, and sometimes homes are lost as fire rages in different parts of our state.

There are things you can do to protect yourself, starting with having an adequate defensible space around your home.  The first area is 30 ft. around your home, and the second one is 100 ft. (more…)

I read the following article  and thought it might be beneficial to anyone that wanted more info on the $8,000. First-time Home Buyers Tax Credit.  I also wrote 7 questions and answers you might have about this tax credit which you can read here First Time Homebuyer Tax Credit Questions and Answers

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Have you been wondering how the Obama “Stimulus Package” affects you?  Not everyone is eligible, but if you are buying a Home this year, you just might be. Below are a few questions and answers that many people have about the $8,000 tax credit.

7 important questions and answers about the $8,000 Tax Credit from Obamas Stimulus Package include:

• Will I be able to get the money as a refund on my taxes?  Yes, the credit is refundable.  If you qualify then you will either get a refund, or the money will be used to offset the taxes you owe.
• Do I get the whole $8,000?  The tax credit is either 10% of the homes value or $8,000. Whichever is less.
• What if I bought a house before, am I still a 1st time Home Buyer?  A “1st time home buyer” for purposes of Real Estate (and both the previous and current tax credits) is someone that hasn’t bought a home in the past 3 years.
• When do I have to buy a home in order to qualify for this credit?  This credit is for homes that are bought between Jan.1st and Dec.1st  and close escrow before the end of the year. 
• Do I have to live in the house to get this credit?  Yes, you have to live in the house as your primary residence for at least three years.  If not you may have to pay the money back.
• How do I file for this $8000 credit?  You would file as usual, and fill out the revised version of IRS form 5405. If you already filed your taxes for 2008 you can file an amended return and claim the credit, or claim it on next years tax return.
• Are there any Income Limits?  Yes, a buyer cannot make more than $75,000 or $150,000 for couples that file a joint return.

*Anyone that wants to buy in Central Oregon to take advantage of the $8,000 tax credit might want to read this Post about things to consider before buying.

*If you are a 1st time Home Buyer thinking of buying a home in CA, the following Article might be of interest to you.  CA is the only State offering a Mortgage Protection Plan.  The CA Mortgage Protection coupled with the $8,000 tax credit is a great reason to buy a Home now, and that’s not even counting low interest rates and home prices!