Let's Talk Real Estate

Here is important informaton you need to know… and you need to tell your family and friends right away! Few people realize that each time their credit is checked, the information provided to the credit bureaus ( Equifax , TransUnion , Innovis or Experian ) immediately becomes a commodity that is sold not only to other lenders but also to companies that sell and resell the same names and personal information. That’s right - the credit bureaus have found a way to increase their revenues at our expense, without our permission! These "inquiry leads" include name, address, phone numbers (including unlisted), credit score, current debt and debt history, property information, age, gender and estimated income. They are marketing personal, confidential information to competing creditors and making millions. Our privacy is being sold, not just once, but over and over again. Lenders that have purchased these leads at a premium will then do everything they can to recoup their investme

As we begin 2010, both real estate professionals and home buyers are "hitting the ground running" — anxious to take advantage of the extended and expanded home buyer tax credit. Everyone I talk to in real estate is busier than usual for this time of the year. Buyers are anxious to make sure that they don't "miss the boat". Originally created in 2008, the home-buyer tax credit has evolved from a $7,500 credit, which had to be repaid by the home buyer over the course of 15 years, to an $8,000 tax credit with no repayment required in 2009. Now, for a limited time in 2010, the $8,000 home buyer tax credit will still be available to first-time home buyers and certain current homeowners will also be eligible for a $6,500 credit. Under the extended home buyer tax credit, as long as a written binding contract to purchase a home is in effect on April 30, 2010, and the deal is closed by July 1, 2010, one can claim the credit. For current homeowners purchasing a home it is

As you begin to prepare for "tax time" don't forget about the energy efficient tax credits that may be available to you. If you purchase an energy-efficient product or renewable energy system for your home, you may be eligible for a federal tax credit. Most products are eligible for tax credits at 30% of the cost, up to a total credit of $1,500 and must be "placed in service" between January 1, 2009 and December 31, 2010. Tax credits are also available for some vehicle purchases. Click here for an overview of the federal tax credits for energy efficiency. To Claim Your Tax Credit: Claim improvements made in 2009 on your 2009 taxes, filed by April 15, 2010. Use the 2009 version of IRS Tax Form 5695 Save your receipts and the Manufacturer Certification Statement for your records. See the ENERGY STAR FAQ for more information on tax credit amounts.

While lending remains tight in troubled markets, banks are starting to relax standards for borrowers with good credit in recovering areas of the country. In some parts of the country, borrowers with good credit are more likely to be able to borrow 95% of the purchase price than they were just a few months ago. According to The Wall Street Journal, in troubled markets (i.e. Florida) credit remains tight and mortgage companies continue to scrutinize property appraisals, which makes it difficult for some borrowers to get financing. But in most areas of the country where prices are stabilizing or falling only slightly, standards are relaxing. This is great news and another sign that the economy is truly beginning to improve. Visit my website for more up-to-date real estate news.

Things can get crazy around the holidays. All the shopping, decking the halls and visions of sugar plums can cause homeowners to lose focus and overlook issues that can turn a season of joy into a season of “oops.” It doesn’t have to be that way. Here is a Top 10 list to remind busy homeowners that just a few minutes a day can keep the ghost of deferred maintenance away: Clean your gutters and downspouts. They play an important role in diverting water away from foundation walls. That means less damage related to water and moisture. If you clean them before winter weather moves in, you can keep your basement and crawl spaces dry and leak-free. Drain exterior water lines. Frozen pipes that can crack the lines are history if you remove, drain and store outdoor hoses now. Give your garbage disposal a hot water bath. Cooking for crowds puts additional stress on these appliances. Flushing the garbage disposal with one pot of hot water and a half-cup of baking soda now – and again after the h

Carbon monoxide, or CO, is a dangerous gas that you cannot see, smell or taste. Carbon monoxide can be deadly. By knowing more about CO, you can protect yourself and your family from CO poisoning. Sources of Carbon Monoxide CO can come from anything that burns fuels, especially if it is not used or vented in the right way. Examples include: • Furnaces • Gas-powered home appliances • Wood stoves • Gas-powered tools • Kerosene heaters • Gas and charcoal grills • Generators • Cars and trucks Symptoms of carbon monoxide poisoning CO poisoning can feel like the flu without a fever, but in a very short amount of time it can become very serious. CO Can Cause: • Headache • Nausea • Dizziness • Vomiting • Fatigue • Passing out • Shortness of breath • Death! How to Prevent CO Poisoning • Place CO alarms close to all sleeping areas in your home, and change the batteries each time you change your clock for daylight savings time. Never ignore a carbon monoxide alarm. • Have appliances, furnaces and

A policy of title insurance is a contract of indemnity between the insured and the insuring company relating to the title to the land described in the policy, protecting the insured against loss of damage by reason of defects, liens or encumbrances of the insured title existing at the date of the policy and not expressly excepted from its coverage. The policy is issued after a complete search and examination of the public records and shows the condition of the record title, including any money obligations outstanding against the property, easements and other matters which may affect the rights of ownership, possession and use of the property. Title insurance protects the "record" title, insuring it is good subject only to the exceptions expressly set out in the policy. lt also insures against certain matters which do not appear of record, such as forgery, identity of parties, incompetence of former owners, interest of missing heirs, and status of individuals not having the &q

Thanks to the success of home buyer tax credit to date, the outlook for housing and the economy appears to be headed toward recovery. Executives from some of the largest brokerages in the country expect to see their sales grow 6-8 percent in 2010 and home prices to start heading up about 3 percent. Existing-home sales are expected to total 5.01 million in 2009, a gain of 2.0% over last year, and then are forecast to rise 13.6% to 5.69 million in 2010. It is expected that the expansion of the tax credit to include repeat buyers will help boost middle-market sales for next year. The improvement in the middle market will help tighten inventories, helping to shore up prices. It looks as though we have seen the worst of it!

So, you’ve decided to purchase a home and take advantage of the Extended Home Buyer Tax Credit. Here is what you will have to do to get your benefit: Close on your home purchase between November 7, 2009 and April 30, 2010, or have a binding written contract by April 30, 2010 and close by July 1, 2010. Decide whether you are going to: apply the credit to your 2009 tax return, filed on or before April 15, 2010; file an amended 2009 return; or, apply the credit on your 2010 return, filed on or before April 15, 2011. 3. Attach documentation of purchase to your return. Documentation of Purchase Details concerning the precise documents required to confirm your purchase have not yet been released. When this information becomes available, I will include instructions and links to the appropriate forms. When to Apply the Credit Buyers purchasing homes on or before December 31, 2009 may claim the credit on their 2009 tax returns. Buyers purchasing in 2010 will have the option to: Claim th

This is important if you know someone who: 1. Plans to acquire or sell a rental property 2. Currently has an investment property 3. Is the tenant in a rental property Effective November 1, 2009, single family and multifamily properties are required to have working smoke detectors and carbon monoxide detectors. This includes single family homes that are occupied under the terms of a rental agreement or month-to-month tenancy. All transfers of property after October 31, 2009, must be certified to the buyer at closing by the seller that the property provides smoke detectors and carbon monoxide detectors in accordance with the law. Click here for more information regarding this new law.