Saturday, July 31, 2010
Tuesday, June 1, 2010
CHECK OUT THIS GORGEOUS NEW LISTING IN FAWNSKIN!
Unbelievable views from this great listing in highly coveted Fawnskin area.
Enjoy the most amazing views of San Gorgonio and Grout Bay!
2 Bedrooms, 2 Baths, on almost 1500 Sq. Feet. The price is pretty unbelievable too at ($269,900!)SCRATCH THAT! REDUCED TO $258,900!!
Must see this immaculate home with open yet cozy country kitchen with tons of wood accents and mountain accents. Master Bedroom has views of the lake through sliding glass doors to the nice covered porch/deck.
Call Kim Boda at (909) 556-0901 direct cell to see this fabulous cabin
1262 Piney Ridge Fawnskin, Ca 92333 and check it out here!
Enjoy the most amazing views of San Gorgonio and Grout Bay!
2 Bedrooms, 2 Baths, on almost 1500 Sq. Feet. The price is pretty unbelievable too at ($269,900!)SCRATCH THAT! REDUCED TO $258,900!!
Must see this immaculate home with open yet cozy country kitchen with tons of wood accents and mountain accents. Master Bedroom has views of the lake through sliding glass doors to the nice covered porch/deck.
Call Kim Boda at (909) 556-0901 direct cell to see this fabulous cabin
1262 Piney Ridge Fawnskin, Ca 92333 and check it out here!
Saturday, May 22, 2010
Big Bear AMGEN Tour of California
On Friday, May 22, 2010 the AMGEN Tour of California came to Big Bear!
What a great day it was...I was so proud to be a part of this amazing day.
We set up our Keller Williams booth with red ballons, candy and all kinds of give aways and then we set up tables so that we could sell Big Bear Vacations/Keller Williams T-shirts to the masses. What a deal! $5 for a T-shirt AND a cowbell! In the illustrious words of Christopher Walken on SNL....Gotta Have More Cowbell! he he
What beautiful weather we had! It was a bit breezy but that didn't deter us!
The bicyclists rolled into town at about 3:30 and boy was that an exciting sight to see. Since our owners donated 20k as the AMGEN sponsors we were treated like royalty and hung out in the VIP hospitality tent! (Thanks Guys!) Man...the food and drink was the bomb AND we had front row seats to see the Tour as they rounded Summit Blvd and headed up to the Finish Line.
I think the highlight of the day for me was seeing the great TV coverage on the VERSUS channel. To see the gorgeous lake and the snow capped mountains of the San Gorgonio range was simply breathtaking. I am so proud to be a resident here and to be a Realtor that helps to represent clients in obtaining a piece of real estate in Big Bear.
Amazing day for all of us here in Big Bear...but the cherry on top of the dessert was this: On the very same day, our local teen, Jordan Romero summitted Mt. Everest as the youngest person ever to accomplish this feat! Wow! Ryan Hall was also in the AMGEN crowd yesterday, he grew up in Big Bear and was our Big Bear Olympian in the Beijing Games! The people of this town are pretty spectacular too as you can see. Great things are happening in this town and I can't help but think that between the excellent scenery and the super people who live here...we just may be the best kept secret yet. Cheers Big Bear...Hip Hip Hooray!
What a great day it was...I was so proud to be a part of this amazing day.
We set up our Keller Williams booth with red ballons, candy and all kinds of give aways and then we set up tables so that we could sell Big Bear Vacations/Keller Williams T-shirts to the masses. What a deal! $5 for a T-shirt AND a cowbell! In the illustrious words of Christopher Walken on SNL....Gotta Have More Cowbell! he he
What beautiful weather we had! It was a bit breezy but that didn't deter us!
The bicyclists rolled into town at about 3:30 and boy was that an exciting sight to see. Since our owners donated 20k as the AMGEN sponsors we were treated like royalty and hung out in the VIP hospitality tent! (Thanks Guys!) Man...the food and drink was the bomb AND we had front row seats to see the Tour as they rounded Summit Blvd and headed up to the Finish Line.
I think the highlight of the day for me was seeing the great TV coverage on the VERSUS channel. To see the gorgeous lake and the snow capped mountains of the San Gorgonio range was simply breathtaking. I am so proud to be a resident here and to be a Realtor that helps to represent clients in obtaining a piece of real estate in Big Bear.
Amazing day for all of us here in Big Bear...but the cherry on top of the dessert was this: On the very same day, our local teen, Jordan Romero summitted Mt. Everest as the youngest person ever to accomplish this feat! Wow! Ryan Hall was also in the AMGEN crowd yesterday, he grew up in Big Bear and was our Big Bear Olympian in the Beijing Games! The people of this town are pretty spectacular too as you can see. Great things are happening in this town and I can't help but think that between the excellent scenery and the super people who live here...we just may be the best kept secret yet. Cheers Big Bear...Hip Hip Hooray!
Thursday, October 29, 2009
Updated Real Estate News about the Buyer Tax Credit
Credit for this blogpost goes to Fred Glick, of www.fredglick.com
BREAKING NEWS- Real Estate Tax Credit To Be Extended
Harry Reid's office just confirmed these details:
1) Sen Isakson, Dodd, Lieberman have agreed, and Senate Finance [Baucus and tax staff] have agreed to this credit extension and expansion:
2) For first time homebuyers, the income level to qualify is $ 75,000/150,000
3) For step up buyers the income level to qualify is $ 125,000/250,000
4) For step up buyers, they must have been residing in their primary residence for 5 years
5) The credit is 10% of the sales price, with a maximum of $ 7290.
6) The credit runs from Dec. 1, 2009 to April 30, 2010.
7) For legitimate sales contracts as of April 30, 2010 you have 60 days to close.
8) There is a waiver for military.
9) This will be added to the Unemployment Insurance bill. It will then go to the House.
BREAKING NEWS- Real Estate Tax Credit To Be Extended
Harry Reid's office just confirmed these details:
1) Sen Isakson, Dodd, Lieberman have agreed, and Senate Finance [Baucus and tax staff] have agreed to this credit extension and expansion:
2) For first time homebuyers, the income level to qualify is $ 75,000/150,000
3) For step up buyers the income level to qualify is $ 125,000/250,000
4) For step up buyers, they must have been residing in their primary residence for 5 years
5) The credit is 10% of the sales price, with a maximum of $ 7290.
6) The credit runs from Dec. 1, 2009 to April 30, 2010.
7) For legitimate sales contracts as of April 30, 2010 you have 60 days to close.
8) There is a waiver for military.
9) This will be added to the Unemployment Insurance bill. It will then go to the House.
Wednesday, September 9, 2009
What is a Short Sale and What can I expect?
A short sale in real estate is not always a pleasant transaction.
There are many ways to lose a home but signing away ownership in a manner that destroys credit, embarrasses the family and strips an owner of dignity is one of the hardest. For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a "short sale."
When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose; moreover, not all sellers nor all properties qualify for short sales.
If you are considering buying a short sale, there could be drawbacks. For your protection, I suggest that all borrowers:
Obtain legal advice from a competent real estate lawyer
Call an accountant to discuss short sale ramifications.
As a real estate agent, I am not licensed as a lawyer nor a CPA and cannot advise on those consequences. Except for certain conditions pursuant to the Mortgage Forgiveness Debt Relief Act of 2007, be aware the I.R.S. could consider debt forgiveness as income, and there is no guarantee that a lender who accepts a short sale will not legally pursue a borrower for the difference between the amount owed and the amount paid. In some states, this amount is known as a deficiency. A lawyer can determine whether your loan qualifies for a deficiency judgment or claim.
Although all lenders have varying requirements and may demand that a borrower submit a wide array of documentation, the following steps will give you a pretty good idea of what to expect.
Call the Lender:
You may need to make a half dozen phone calls before you find the person responsible for handling short sales. You do not want to talk to the "real estate short sale" or "work out" department, you want the supervisor's name, the name of the individual capable of making a decision.
Submit Letter of Authorization:
Lenders typically do not want to disclose any of your personal information without written authorization to do so. If you are working with a real estate agent, closing agent, title company or lawyer, you will receive better cooperation if you write a letter to the lender giving the lender permission to talk with those specific interested parties about your loan. The letter should include the following:
Property Address
Loan Reference Number
Your Name
The Date
Your Agent's Name & Contact Information
Preliminary Net Sheet:
This is an estimated closing statement that shows the sales price you expect to receive and all the costs of sale, unpaid loan balances, outstanding payments due and late fees, including real estate commissions, if any. Your closing agent or lawyer should be able to prepare this for you, if you do not know how to calculate any of these fees. If the bottom line shows cash to the seller, you will probably not need a short sale.
Hardship Letter:
The sadder, the better. This statement of facts describes how you got into this financial bind and makes a plea to the lender to accept less than full payment. Lenders are not inhumane and can understand if you lost your job, were hospitalized or a truck ran over your entire family, but lenders are not particularly empathetic to situations involving dishonesty or criminal behavior.
Proof of Income and Assets. It is best to be truthful and honest about your financial situation and disclose assets. Lenders will want to know if you have savings accounts, money market accounts, stocks or bonds, negotiable instruments, cash or other real estate or anything of tangible value. Lenders are not in the charity business and often require assurance that the debtor cannot pay back any of the debt that it is forgiving.
Copies of Bank Statements:
If your bank statements reflect unaccountable deposits, large cash withdrawals or an unusual number of checks, it's probably a good idea to explain each of those line items to the lender. In addition, the lender might want you to account for each and every deposit so it can determine whether deposits will continue.
Comparative Market Analysis:
Sometimes markets decline and property values fall. If this is part of the reason that you cannot sell your home for enough to pay off the lender, this fact should be substantiated for the lender through a comparative market analysis (CMA). Your real estate agent can prepare a CMA for you, which will show prices of similar homes:
Active on the market
Pending sales
Solds from the past six months.
Purchase Agreement & Listing Agreement:
When you reach an agreement to sell with a prospective purchaser, the lender will want a copy of the offer, along with a copy of your listing agreement. Be prepared for the lender to renegotiate commissions and to refuse to pay for certain items such as home protection plans or termite inspections.
Now, if everything goes well, the lender will approve your short sale. As part of the negotiation, you might ask that the lender not report adverse credit to the credit reporting agencies, but realize that the lender is under no obligation to accommodate this request.
There are many ways to lose a home but signing away ownership in a manner that destroys credit, embarrasses the family and strips an owner of dignity is one of the hardest. For owners who can no longer afford to keep mortgage payments current, there are alternatives to bankruptcy or foreclosure proceedings. One of those options is called a "short sale."
When lenders agree to do a short sale in real estate, it means the lender is accepting less than the total amount due. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose; moreover, not all sellers nor all properties qualify for short sales.
If you are considering buying a short sale, there could be drawbacks. For your protection, I suggest that all borrowers:
Obtain legal advice from a competent real estate lawyer
Call an accountant to discuss short sale ramifications.
As a real estate agent, I am not licensed as a lawyer nor a CPA and cannot advise on those consequences. Except for certain conditions pursuant to the Mortgage Forgiveness Debt Relief Act of 2007, be aware the I.R.S. could consider debt forgiveness as income, and there is no guarantee that a lender who accepts a short sale will not legally pursue a borrower for the difference between the amount owed and the amount paid. In some states, this amount is known as a deficiency. A lawyer can determine whether your loan qualifies for a deficiency judgment or claim.
Although all lenders have varying requirements and may demand that a borrower submit a wide array of documentation, the following steps will give you a pretty good idea of what to expect.
Call the Lender:
You may need to make a half dozen phone calls before you find the person responsible for handling short sales. You do not want to talk to the "real estate short sale" or "work out" department, you want the supervisor's name, the name of the individual capable of making a decision.
Submit Letter of Authorization:
Lenders typically do not want to disclose any of your personal information without written authorization to do so. If you are working with a real estate agent, closing agent, title company or lawyer, you will receive better cooperation if you write a letter to the lender giving the lender permission to talk with those specific interested parties about your loan. The letter should include the following:
Property Address
Loan Reference Number
Your Name
The Date
Your Agent's Name & Contact Information
Preliminary Net Sheet:
This is an estimated closing statement that shows the sales price you expect to receive and all the costs of sale, unpaid loan balances, outstanding payments due and late fees, including real estate commissions, if any. Your closing agent or lawyer should be able to prepare this for you, if you do not know how to calculate any of these fees. If the bottom line shows cash to the seller, you will probably not need a short sale.
Hardship Letter:
The sadder, the better. This statement of facts describes how you got into this financial bind and makes a plea to the lender to accept less than full payment. Lenders are not inhumane and can understand if you lost your job, were hospitalized or a truck ran over your entire family, but lenders are not particularly empathetic to situations involving dishonesty or criminal behavior.
Proof of Income and Assets. It is best to be truthful and honest about your financial situation and disclose assets. Lenders will want to know if you have savings accounts, money market accounts, stocks or bonds, negotiable instruments, cash or other real estate or anything of tangible value. Lenders are not in the charity business and often require assurance that the debtor cannot pay back any of the debt that it is forgiving.
Copies of Bank Statements:
If your bank statements reflect unaccountable deposits, large cash withdrawals or an unusual number of checks, it's probably a good idea to explain each of those line items to the lender. In addition, the lender might want you to account for each and every deposit so it can determine whether deposits will continue.
Comparative Market Analysis:
Sometimes markets decline and property values fall. If this is part of the reason that you cannot sell your home for enough to pay off the lender, this fact should be substantiated for the lender through a comparative market analysis (CMA). Your real estate agent can prepare a CMA for you, which will show prices of similar homes:
Active on the market
Pending sales
Solds from the past six months.
Purchase Agreement & Listing Agreement:
When you reach an agreement to sell with a prospective purchaser, the lender will want a copy of the offer, along with a copy of your listing agreement. Be prepared for the lender to renegotiate commissions and to refuse to pay for certain items such as home protection plans or termite inspections.
Now, if everything goes well, the lender will approve your short sale. As part of the negotiation, you might ask that the lender not report adverse credit to the credit reporting agencies, but realize that the lender is under no obligation to accommodate this request.
Tuesday, June 23, 2009
Green Living Tips-Simple Steps to green your home and your wallet
Lighting and Electronics:
Replace standard incandescent light bulbs with compact fluorescent light bulbs.
Replace standard incandescent light bulbs with compact fluorescent light bulbs.
- If all Californians replaced five bulbs with compact fluorescent light bulbs, it would be the equivalent of taking 275,000 cars off the road.
- If all Californians unplugged electronics when not in use, it would be the equivalent of taking 120,000 cars off the road.
Heating and Insulation:
- Lowering the temperature 5-10 degrees Fahrenheit can save you up to 20 percent on heating costs.
Using Appliances Wisely:
- If a family of four replaces their 3.5 gallon per flush toilet (Pre-1994) with a Water Sense-labeled toilet, they could save $90 a year and as much as $2,000 over the toilet's life.
- Laundry-Do your laundry efficiently by running the washer only when it's full, and by using the warm or cold water setting for washing your clothes. always use cold water to rinse clothes. About 90 percent of the energy used by a clothes washer goes to heat the water.
- If all Californians replaced their inefficient clothes washers with energy-efficient ones, it would be the equivalent of taking 30,000 cars off the road.
- Kitchen-if Californians replaced their inefficient dishwashers with energy-efficient ones, it would be the equivalent of taking 62,000 cars off the road. If you unplug or recycle that spare refrigerator in the garage you can save up to $150 per year!
Think Globally, Buy Locally
- When you choose a product that is local to your area, you reduce transportation energy usage and help sustain your local community!
- When you're through with an item, sell or "Freecycle" (www.freecycle.org) it rather than throw it away! "Away" means the landfill!
Every Drop Counts
- Did you know that as much as 19 percent of California's electricity is used to pump, transport, and treat water.
- Did you also know that your water bill expenses are basically costs to get water to your home from the Colorado River? The cost of the water is basically inexpensive, it is the expense of having it brought directly to you that is what you are actually paying for!
A Special Thank you goes to Arlene Baxter of the California Association of Realtors who wrote this booklet and is on the Green Task Force.
You can reach her in Berkeley California at Berkeley Hills Realty.
Arlene Baxter [eastbay.bungalows@gmail.com]
Monday, May 11, 2009
Buyer Tax Credit Tips
Bringing the Dream of Homeownership Within Reach
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers.
Here is more information about how the 2009 First-Time Home Buyer Tax Credit can help prospective home buyers become part of the American dream.
Who Qualifies?
First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
Which Properties Are Eligible?
The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Will the Credit Be?
The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors:
The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.
The buyer's income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $95,000 for singles and over $170,000 for couples are not eligible for the credit.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed legislation that grants a tax credit of up to $8,000 to first-time home buyers.
Here is more information about how the 2009 First-Time Home Buyer Tax Credit can help prospective home buyers become part of the American dream.
Who Qualifies?
First-time home buyers who purchase homes between January 1, 2009 and December 1, 2009.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
Which Properties Are Eligible?
The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Will the Credit Be?
The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors:
The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.
The buyer's income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.The credit decreases for buyers who earn between $75,000 and $95,000 for single buyers and between $150,000 and $170,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $95,000 for singles and over $170,000 for couples are not eligible for the credit.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during the three-year period, the credit will be recouped on the sale.
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