Open Houses - 5/1/2010 & 5/2/2010

Saturday, 5/1/2010 19301 Surfdale, Huntington Beach 92648
1:00 - 4:00 pm 5 Bedroomn/4 Bathrooms/ 3,000 s/f Home With Pool
$1,225,000.00

Sunday, 5/2/2010 9115 Gardenia Ave., Fountain Valley 92708

1:00 - 4:00 pm 4 Bedroom/2 Bath/1500 s/f Home

$595,000

Tax Credit Expires 4/30/2010

The expiration of the 2010 Home Buyer Tax Credits on April 30 is unlikely to put off Americans looking to purchase homes who believe now is a good time to buy and are confident that home prices will rise according to a survey released by Prudential Real Estate and Relocation Services, Inc., a Prudential Financial, Inc. company. The survey of 1,000 Americans between the ages of 25-64.

Differece Between Monthly Rents & Mortgage Payments

Affordable home prices and low interest rates have created an ideal time for many buyers to purchase homes, and now a new week-long look at homeownership confirms it. The national study, conducted for The Associated Press, shows that the difference between monthly rents and mortgage payments is at its lowest level in nearly 20 years.

Green Tip Of The Week - 4/26/2010

Next time you’re in the post office, ask the postal clerk for an envelope to recycle your cell phones, PDAs, MP3 players, ink jet cartridges, digital cameras, and small electronics. The post office provides this free service, and all you have to do is peel the label of this 6-inch by 5.5-inch envelope and drop in your mail box.

Earth Day

If every American home replaced just one light bulb with a compact fluorescent light bulb, we would provide enough energy to light more than 3 million homes for a year, save more than $600 million in annual energy costs, and prevent greenhouse gases equivalent to the emissions of more than 800,000 cars.

Green Tip Of The Week - 4/19/2010

Commercial car washes are more water efficient than garden hoses. A typical commercial car wash uses 100 gallons less water and, often, professional washes reuse and recycle the rinse water.

California Will Not Tax Forgiven Mortgage Debt

Governor Schwarzenegger on Monday signed SB 401 (Wolk) into law providing distressed homeowners with state tax exemption on debt forgiven in a short sale, foreclosure, or loan modification. Effective immediately, this bill generally aligns California's tax treatment of mortgage debt relief income with federal law. For debt forgiven on a loan secured by a qualified principal residence, borrowers now will be exempt both from federal and state income tax consequences. The tax exemptions apply, with certain restrictions, to debts discharged from 2009 through 2012

Green Tip Of The Week - 4/11/2010

Who needs a decorative pail on the counter to collect compost—and odors—when you can use a castoff container, such as a margarine container or a cardboard milk carton? Put the container in your freezer, add kitchen scraps until full, dispose scraps (and milk carton) on the compost pile, and repeat. No odors.

A recent study of more than 22,000 homeowners who bought their homes within the last nine years found that current homeowners plan to be “more practical” in their next purchase, focusing on livable space rather than unnecessary upgrades.

New State Tax Credit For Home Buyers

An eligible taxpayer who closes escrow on a qualified principal residence between May 1, 2010 and December, 31, 2010, or who closes escrow on a qualified principal residence after December 31, 2010 who has been in a contract dated before December 31, 2010 will be able to take the allowed tax credit.
This credit is equal to the lesser of 5 percent of the purchase price or $10,000, taken in equal installments over three consecutive years. Under AB 183 purchasers will be required to live in the home as their principal residence for at least two years or forfeit the credit (i.e. repay it to the state).
Call us with any questions - 714-595-2812

What Is A "Short Sale"?

In a short sale, the lender allows a homeowner to sell a house for less than, or short of, what is owed on a mortgage. Owners seek short sales to lessen the credit damage that comes with a foreclosure. But because of the time it takes to complete a "Short Sale" it is anything but Short !

Spring Market - 4/2/2010

Along with Spring the demand for Orange County housing has arrived - but with inventory down we are experiencing multiple offers and many homes selling above the asking price - especially in the market under $1 million. The current market problem? Lack of Inventory !!