Archive for the Uncategorized Category

Summer IS HERE, with a vengeance

20. July 2010 by Michael McFarlane.

With the heat in the 100s the last few days, we thought maybe some tips on staying cool for less money might be nice.  Try this article: Keeping it Cool with Air-Conditioning Tips

Don’t forget the lawn!  It is feeling the heat to:.  7 Lawn Care Tips for the Summer Season .

Conserve water while taking care of the lawn and staying cool?  10 Tips to Conserve Water

And if you have any energy left, or need a break: Top Five Tips for Summer Entertaining

And to keep your cool AND conserve energy  with real estate transactions, depend on Yuba Sutter Homes and Loans.; home of the FREE home warranty!  Where service and value DO work together.  And just for YOU!

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What does a Realtor® do for the Community?

15. July 2010 by Michael McFarlane.

In the past you have heard me state that as an organization, Realtors® work for the benefit of the whole community, not just acting as a union to strengthen our own position.  In addition to the many charities and community help programs that we contribute to and participate in, we are a strong voice for Home Owner’s Rights, in fact the strongest voice out there for YOUR benefit.

Below is an exerpt from a recent (this morning) message sent to all Realtors®.  It does demonstrate some of the recent property rights we have been instrumental in protecting.

July 13, 2010

 

Dear C.A.R. Member,  [California Association of Realtors®]

 

Good news bears repeating.

President Obama recently signed a bill extending the closing deadline for the federal
home buyer tax credit to Sept. 30, 2010. The NATIONAL ASSOCIATION OF REALTORS® estimates that as many as 17,700 home buyers in California would not have received the tax credit without the extension. Perhaps you know someone who now will benefit from this legislation.

The president also signed HR 5569, the National Flood Insurance Program Extension Act of 2010, funding the program through Sept. 30, 2010—good news for homeowners in the Sacramento-San Joaquin Valley and other 100-year floodplains. As you know, flood insurance is required for mortgages on properties in a 100-year floodplain. Congress has allowed the program to lapse three times this year, forcing many real estate transactions to be put on hold and, in some instances, cancelled. What happens in Sacramento and Washington, D.C., really does matter to your business.

The passage of these two pieces of legislation—which C.A.R. and NAR advocated for—demonstrates the importance of REALTOR® involvement in government. Legislative wins such as these require a focused and relentless presence at the state and national levels.

C.A.R.’s advocacy in the political arena this year also helped preserve property profiles after title companies stopped providing them in reaction to a letter issued by the Department of Insurance; thrice defeated a 3-percent independent contractor withholding proposal that would have accelerated income tax payments for our members; and defeated point-of-sale retrofits proposed through several pieces of legislation that could have added as much as $20,000 per home prior to closing escrow.

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Price is no longer the Only Concern when Buying a Home

10. July 2010 by Michael McFarlane.

One of the good things to come from the recent crash in the economy is that people are once again buying their new home with an eye towards the livability of the home.  It is not just a piggy bank, or even just a long term investment (although is really is an investment).  That new home is where you are going to live for the next few years.

I have seen this in our area, and apparently it is happening across the nation as well.  The Wall Street Journal just published an article on this very issue.  To read that full article and more go to www.YubaSutterHomesAndLoans.com and click on the “Hot News” icon.  Or, to read only this article click HERE.

 Remember to check our web sites: YubaSutterHomesAndLoans.com and YubaSutterHomeBuys.com

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30-year mortgage rates down to new low

9. July 2010 by Michael McFarlane.

As sales have slowed a bit due to the discontinuation of the federal tax credit, banks have looked to other ways to boost new loan sales.  You guessed it…lower interest rates.  Not the Tom Foolery that caused the crash, just an honest reduction from the rates that were already low.

 Would you believe 4% for a 30 year fixed rate loan?  Is this a great time to buy?  YES!  To read the full story just published by the LA Times click HERE.

To read more Real Estate news check out our web site at YubaSutterHomesAndLoans.com

To search for homes for sale right now click HERE.

To ask a question email click *

And you can always respond to this blog with the comment box below.

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Yuba-Sutter Grapevine Newsletter Just Released

6. July 2010 by Michael McFarlane.

The July issue of the Real Estate newsletter of choice for the Yuba-Sutter area was just released this morning.  If you don’t already receive your own copy sign up today.  It’s easy, quick, and secure.  No hype, no sales pitch, just news that’s relevent and important to you.  Your email address is secure with us; we will NEVER sell or disclose your information to others.  To subscribe today just send your name and email address to Subscribe@YubaSutterGrapevine.com.  It’s that easy and tottally secure.

This month’s articles include: Transferring loan on inherited home; How pros drill through masonry; Fixing to sell: Don’t go overboard; Design tips for updating 1950s tract home; Find property problems before you buy; and MANY MORE!  We try to have what you want, so if you don’t see something you are interested in let us know with a quick email to ideas@YubaSutterGrapevine.com and we will see what we can do.  Chances are that if you are interested so are others, so it is something we want to publish.

Still not sure yu want to subscribe?  Like a preview first?  Click HERE.  You may also subscribe directly from the newsletter.  GET YOURS TODAY

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Short Sale Consumer Alert

14. May 2010 by Michael McFarlane.

Short Sales are a great way to help a home owner sell a home that they can no longer afford and is worth less in the current market than what they owe the bank.  This is the situation many have found themselves in after the recent economic events.  A reputable Realtor® can assist a distressed home owner in this process.  Unfortunately, like any process that involves money, there are the bad apples out there who take advantage of those needing and looking for help. 

 The laws are evolving to help protect the consumer.  But laws alone are not enough.  Even though many improper procedures may be in an honest but uninformed attempt to help the home owner, laws usually come into existence AFTER the fact.  And, crooks, by very definition, break the law.  What is the answer?  Education is possibly number one.  Does this mean you need to know everything about short sales?  NO!  Just be aware of a few red flags, and always work with a reputable and knowledgeable Realtor® like those at Yuba Sutter Homes and Loans.

To aid this education process, the California Real Estate Commissioner, Jeff Davi, announced the issuance of a Consumer Alert by the California Department of Real Estate.  To read the article click HERE.

 

Of course, you can always contact us for all your real estate questions, needs, and help with your purchase or sale.

 

Don’t forget our monthly newsletter of the Yuba-Sutter Grapevine.  You can have it delivered directly to your inbox.  No hassle, no searching.  To request your FREE copy send your request to Grapevine@YubaSutterHomesAndLoans.com. 

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Double Tax Credits?

25. April 2010 by Michael McFarlane.

YES!  Not only is there a credit from federal taxes, there is also one from the state of California.  And, yes, if you plan right (and things go according to plan) you can get BOTH.  In an article just released by Kathleen Pender in the San Francisco Chronicle it may involve some risk though.  Like most things, if this interests you, you should be aware of and plan for the possible risks.

 One of the critical things is timing.  Each of the credits has its own deadline dates.  Be sure you understand them or your work could be for naught. 

To read her full article click HERE.

For a complete list of homes for sale in Yuba City, Marysville, Sutter, Live Oak, Plumas Lake, the Foothills and sourounding areas visit our web site Yuba Sutter Homes and Loans.com, go to the buyers menu and click on search the MLS.  Or just click HERE. 

Be sure to visit our web site at YubaSutterHomesAndLoans.com  for all your real estate related needs, or our sister site at YubaSutterHomeBuys.com.  And, just for you, we are constructing a new site devoted to community information.  click HERE.

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Zillow says my home is worth more…

22. April 2010 by Michael McFarlane.

Have you heard this before?  Do you wonder why Zillow and others say one thing but the Realtor® you are working with says something else?  Who is right?

These are very good questions.  While we can’t give you specifics here (every home is different) the general answer is that your Realtor® should be someone local, someone who knows the local market, trends, and has knowledge only obtained by living in an area.  Also, if you are working with a licensed agent, he or she is sworn to put your interests ahead of their own; that means doing what is right for you, not just trying to make a sale.  If you are working with a Realtor® (as opposed to a licensed salesperson without the Realtor®) that standard is even higher!  Unfortunately, this is not the case with Zillow and others.  Their objective is to sell subscriptions, making money from advertising.

While we don’t think they are intentionally misleading the public, they are not local people living and working in the community either.  They glean thier information from MLS searches etc without the knowledge of how those numbers came to be.

 Does this mean you should not use Zillow, Google, et al?  NO!  It is usually good to get all the information possible, but remember to temper it according to it’s source.  If you are in the Yuba-Sutter area and would like a FREE estimate of your home ’s value in today’s market click HERE.

Are you just curious about home prices in your neighborhood?  To get a FREE search of the current homes listed for sale click HERE or visit Yuba Sutter Homes and Loans.com.  Thinking about purchasing a new home?  We have exclusive deals with many of our local builders.  Would you like a FREE home inspection (yes, even a new home!), or a security system installed?  FREE protection for your new purchase?  Free…well, you get the idea.  Click on over to Yuba Sutter Home Buys.com. 

Call, email, blog.  The information is FREE.  How may we help you today?

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Tax Credits for Energy Efficiency

21. April 2010 by Michael McFarlane.

You may have heard that the federal government is giving tax credits to those that upgrade or remodel their homes with appliances or materials that increase the over-all energy efficiency of the home.  While this is true, many of these have limits and/or deadline dates.

 While we certainly commend anyone for decreasing thier carbon footprint, and we don’t want to discourage anyone from their plans to do so, we do think it is a good idea to know just what really is available BEFORE one jumps into such projects. 

To get the OFFICIAL story go to the source.  No we don’t mean you have to wade through tons of government legal-speak.  We have done that for you, and located a site with the good and maybe-not-so good spelled out!  all you have to do is click HERE.

For more Real Estate news visit Yuba Sutter Homes and Loans and click on “Hot News“.

To search for your new home (or sell yours) visit (just click) Yuba Sutter Home Buys.

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NO MORE STATE TAX ON FORGIVEN DEBT

15. April 2010 by Michael McFarlane.

Finally!  It’s law!  California has ratified it’s tax law to not tax those whose primary residence has been foreclosed upon.  In many respects, the law follows the current federal law.

 Following is the just released article from the California Association of Realtors®.

NO MORE STATE TAX ON FORGIVEN DEBT

Distressed homeowners no longer have to pay California state income tax on debt forgiven in a short sale, foreclosure, or loan modification.  Enacted into law yesterday, Senate Bill 401 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 will now be exempt from both federal and state income tax consequences.  The existing federal exemption is for indebtedness up to $2 million, whereas the new California exemption is for indebtedness up to $800,000 and forgiven debt up to $500,000.

“Qualified principal residence” indebtedness is defined as debt incurred in acquiring, constructing, or substantially improving a principal residence.  It includes both first and second trust deeds.  It also includes a refinance loan to the extent the funds were used to payoff a previous loan that would have qualified.

The tax breaks apply to debts discharged from 2009 through 2012.  Californians who have already filed their 2009 tax returns may claim the exemption by filing a Form 540X amendment.
 
Taxpayers who do not qualify for the above exemptions (e.g., second home or rental property) may nevertheless be exempt under other provisions.  Most notably, taxpayers who are bankrupt are exempt from debt relief income tax.  Also, taxpayers who are insolvent are exempt from debt relief income tax to the extent their current liabilities exceed current assets.

For more information about mortgage forgiveness tax consequences, go to California Franchise Tax Board’s Mortgage Forgiveness Debt Relief Extended webpage and the Internal Revenue Service’s Mortgage Forgiveness Debt Relief Act and Debt Cancellation webpage.  The full text of Senate Bill 401 is available at www.leginfo.ca.gov. 

C.A.R. provides REALTORS® with many legal articles covering a wide range of topics of interest.  Some of the new or newly revised legal articles available at http://qa.car.org/ are as follows:

For additional information see In The News at YubaSutterHomesAndLoans.com

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