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Time’s Running Out for the First Time Home Buyer Credit — Liberty Tax Examines the Tax Breaks for Homeowners
(Virginia Beach, VA) Qualified first time home buyers and others who previously owned a home have a May 1st deadline to close on a home in order to take advantage of the first time home buyer credit. First time home buyers who have not owned a principle residence for three years prior to the purchase of a new home can take a credit of up to $8,000.
“First-time home buyers claiming the credit must file a paper return that includes Form 5405 and additional documentation,” commented John Hewitt, CEO of Liberty Tax Service. “Generally, that’s a copy of the HUD-1 settlement statement or a retail sales contract if the home is a mobile home.” Continue reading Tax Time! Did You Move-up? 1st time homebuyer? Tax Tools for our Sonoma County Homeowers!
Country property Primer: If your gonna BE Country—
Start THINKIN’ Country! 
I had a client call me once saying he’d grown weary of living in the city and had a dream to live on 5 acres in the Country. He insisted on being show 5 Acre properties. I asked him what he was used to? He replied, “I grew up and still live in the “Avenues” of San Francisco. Lot sizes, bit bigger than a large priority mail stamp! O.K. C’mon up and we’ll do some country.
The first bit of land I showed him was a nice 1 acre parcel in the South Sebastopol area. Really not THAT treed, some Eucaluptus but pretty much pasture land. We walked out onto the land and I pointed out the corners ONLY not even telling him how much land he was actually taking in. He ASSUMED 5 acres. He looked at me with a rather astounded look on his face and blurted, “I had no idea how BIG 5 Acres IS!” I then told him it was a 1 Acre parcel. Continue reading New Blog Series–Country Property Primer! How to Proceed,Buy,Sell your real estate “In Country”
This Week on the “Real Estate Hour”, the NorthBay’s Longest running real estate talk show! Sunday, March 7, 9 to 10am PST, KSRO, 1350AM or tune us in on the web at: www.KSRO.com or visit our radio show blog: www.TheRealEstateHourBlog.com Have a question for Ivan? Call: 707-636-1350 or email before, during or after the show to: nodumbquestion@gmail.com
Special Guest: Ivan Choi | SVP, REO Financing Services, Prospect Mortgage
Ivan Choi joined Prospect Mortgage on December 1, 2009. Based in Southern California, Mr. Choi oversees Prospect’s national effort in partnering with REO servicers and capturing retail mortgage originations opportunities.Mr. Choi formerly led Bank of America’s REO financing initiative, where he launched an REO platform that achieved billions in REO originations in 2009. He has 13-years mortgage industry experience and has held positions in finance, technology and as a retail mortgage originator. Mr. Choi currently serves as board member and President of REOMAC, a national non-profit association serving the default industry. Mr. Choi also serves as the national membership chairperson for the Asian Real Estate Association of America (AREAA). He holds a bachelor’s degree in business from Pepperdine University in Malibu, CA.
 Special Guest: Ivan Choi–”Where are the Foreclosures? Do we REALLY have a “shadow inventory”?
When will these REO’s hit the market? In what Numbers?
Is there a special deal between the Government and the Big “Peer” Banks in the releasing of REO’s?
Short-Sales? Is the NEW HAFA program a “game changer”?
- Is “Deed in Lieu” the new REO?
- What’s the long term prognosis for the foreclosure market in California?
- What about all those “resets” we keep hearing about?
These questions plus many more! Join me and special co-host for the hour, Jamelie Samonte of Prospect Mortgage as we pepper the ever-entertaining and provocative Ivan Choi. Ivan speaks on these issue throughout the nation and we are pleased to present him for the hour this Sunday!
Rincon Valley location one of the big highlights of this cosmetic fixer upper on big corner, cul-de-sac lot at the end of Bridgewood Drive just off of Montecito Blvd. However this end of the lane location is quiet with little drive through traffic. 2000+ sqft feet with 3 bedroom and 2 full baths this home has 1970 Design elements such as bit Knotty Pine family room with built-in bookshelves wrapping central fireplace. The “Love-Pit” which is space sunken before the 2nd fireplace in the living room is something to behold! Single level for downsizers who still wish a good sized home to roam. Come see Allison ,Sunday, February 28th from 1 to 4pm.
The Commerce Department reported Wednesday that housing starts reached an annual rate of 791,000 last month, the lowest level since the department began tracking starts in 1959. The rate tumbled 4.5% from the revised reading of 828,000 in September.
Note also the magnitude of the drop in the chart below— it is unprecedented, having easily surpassed the 1982 collapse, the present circumstances have now become slightly worse than the 1973-75 fall.
A grim report ….but nothing we didn’t already suspect. An unfortunate reality for the contruction industry. In the end, demand will determine the supply. As we recently learned, supply does not create its own demand. It’s an interesting path we’re on ….eh?
Listen on Sunday 2/21 as my guest John Sutter of ABS (Applied Building Science) explains the Sonoma County Energy Independence Program (SCEIP) and how it is creating jobs for the local construction industry, and how he has re-invented his own business to accomidate his interest in environmental issues, reducing his clients carbon footprint..and utility bill, as well as sustaining his business. It’s a perfect shift.
Listen in Sunday from 9-10 am 1350 KSRO or streaming live at www.ksro.com. Continue reading National Housing Starts Lowest Since Tracking Began in 1959
1034 Estes Drive. Priced at $279,900, this home is sure to go fast. Come on over and say Hi this Sunday. This classy remodeled home in Rincon Valley is sure to wow you. Bamboo floors and warm colors throughout, bright kitchen with stainless appliances. Large yard with no two story neighbors looming over. This home is a real charmer. Look for signs. ..Off of Montecito Ave just east of Middle Rincon, close to Santa Rosa, California’s desirable Rincon Valley schools. Hope to see you there!
 
Come see me Sunday, February 14th, YES!! I know it’s Valentine’s Day but you won’t find a sweeter valentine than this stunning value with 3 bedrooms, 2 baths, 1600+sqft, single leve with Tile Roof and remarkably in this price point–A 3 CAR GARAGE!! Wow! We are looking at offers on February 17th so you’d better hurry. The cards are stacking up at the property as Realtors/Agents show this screaming deal to their buyers. Give your sweetie something she really could use for Valentine’s Day– A great Home! Hope to see you there!
We are bound and determined to make our transactions as transparent as possible. Hence we are uploading all of our documents to our Box.net collaborative site (just CLICK HERE)for you to check out anytime you wish! If you want to be notified of any new information send Mike or Alli an email to: nodumbquestion@gmail.comand we’ll make you a “collaborative guest” on our files web site! This way you’ll be notified of any new postings to this site. It’s information you NEED! The SCEIP program, latest interest rates, Our Property Flyer’s with some of the best price/values/deals in Sonoma County, Home Sales Data posted monthly, plus gobs of goodies! For now you can go see all of our property flyers for Sonoma County. Right now we are seeing an uptick in our inventory which portends well for this great spring time home buyers market in Santa Rosa, Rohnert Park, Sebastopol, Healdsburg,Wndsor and everyother town in our lovely Sonoma County!
Princeton Capital Group: Rates provided by our Interest Rate Guy: Pete Phillippe Give him a call at: 481-2737
Email Pete at: peterphillippe@princeton.com
| To $417,000 4.75% 1 pt , 30 yr fixed, or on a 5/1 arm program , 3.75% 1 pt !!
New Investment purchase or refinance to $417,000 5.125% at 1 pt!
To $662,250 5% 1pt 30 yr fixed or on a 5/1 arm program, 4.25% at 1 pt
To $417,000 4.75% 1 pt 30 yr fixed on FHA loans 3.5% down!
To $662,250 5 % 1pt 30 yr fixed on Jumbo FHA loans 3.5% down ! |
Rates for your “Weeknd Real Estate Shopping” !
Commercial and multifamily loan originations in the 4th quarter 0f 2009 12% higher than they were during the same period last year. Loans for hotels up 105%, industrial property loans up 59% but multifamily loans down 8%. Biggest commercial lender is Wells Fargo with $475 billion in 2009 . Refinances still make up 69% of all loan applications in California ,thru January 2010 . The Jumbo loan market ( loan amounts about $662,250 in Sonoma county) has 9.5% delinquency, over 60s day late , performance record . . . why they are tough to get!
Click on THIS LINK to January 2010 Sales Data for Sonoma County,California–Median Up–Sales WAY DOWN compared to last year! REO’s? Off 50% over last year! Now I know it’s supposed to be kinda DEAD this time of the year but we thought with the 1st Timer Home Credit program plus the new “Move-up” program we’d see a bit MORE sales but 299 is really pathetic! Last year? 391–this year? 299! Ouch! Continue reading January 2010 Home Sales data Sonoma County,California-Home Sales real Suckie!
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