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Tax Day is HERE!

Posted on 19. April 2011 by Michael McFarlane

We know that everyone reading this blog has already filed their taxes, right? Not everyone? The good news is that the government has given us an extra couple of days by taking a day of. The bad news? Only that today is IT! Might as well just get them done. They aren’t going to go away. At the very least get that extension filed.

Don’t know where to find your forms? Our experience has been that everything you want (and a lot more) can be found at IRS.gov. A simple Google search is my preferred method of finding something in particular.

You still have questions about what is and is not deductible? While it is getting pretty late for this kind of research, you can find a lot of answers on the IRS’s own site. You might also refer back to many of the posts made right here. While we are not CPAs, we try to keep abreast of the laws relevant to our industry. Be sure to consult your tax advisor for specifics.

Too late to find a CPA? Sorry about that, we can’t help you there. We do know there are free programs available on line if your needs are relatively simple, and paid versions for those that don’t quite fit that category. You can also download the needed forms, print them out for completion, and mail them. While many options are available, they won’t do themselves.

And for those of you who have completed your returns: congratulations! Doesn’t it feel good to know that you have done your part? At least that you don’t have to worry about penalties and fines now? And now, if you will excuse us, we need to get busy on our own…

ARMs (Adjustable Rate Mortgages): Good, Bad, Just Plain Ugly?

Posted on 13. April 2011 by Michael McFarlane

This morning I posted this question on our facebook page. There seems to still be a lot of controversy over that question. Indeed, ARMs have been blamed for the current financial melt-down. It seems that most of what we hear from the news is negative on this issue. We would like your opinion.

Does the home buyer planning to live in their new home making payments for 30 years benefit from an ARM? What about the investor who wants to remodel the home, then sell it, all within a very short time? Or the home buyer that knows they will be moving on in 3-5 years?

Here is another reason you might consider an ARM. To pay your new purchase off sooner and for less money! Yes, faster and cheaper! No, it’s not hype, nor am I trying to sell you an ARM (although we do handle them). Rather that get into that much detail here I am going to refer you to Jack Guttentag’s recent explanation on how this works.

Questions about YOUR best action? Contact us today for your free, no obligation consultation.

For ALL your real estate related needs and/or questions call ((530 315-2808) or visit us8 on line at EncoreRES.com or any of the links below. Please note: all visits to our sites are secure AND confidential. We do NOT track your activity!

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Real Estate Agents: Villans or Saints?

Posted on 10. April 2011 by Michael McFarlane

Of late there has been a lot of criticism of the real estate industry. Much of this has focused on the agents themselves. It seems that our society has decided that to place blame is the solution to a problem. The economy is bad, blame real estate. Real estate is bad, blame the agents.

The problem is not going away just because someone pointed a finger at someone else! Whether that blame is correctly placed or not (and we don’t think it is), nothing is accomplished unless something is actually done to correct the problem.

To correct any problem, you have to understand it! What are the negative points? What are the positive points? Remember the old adage about not throwing out the baby with the bath water? It applies to this situation as well. Fix the broken, but keep the good!

What is the good in the real estate agent situation? A lot actually (yes, I might be slightly biased, but it’s a fact). We are not just a necessary evil either. An honest and caring agent, especially a Realtor® can bring a lot to the transaction. I recently read an article by Teresa Boardman on this subject. She pointed out some interesting facts. Rather than quote her, I am providing you her entire story.

Questions about YOUR best action? Contact us today for your free, no obligation consultation.

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The Dream is Still Alive!

Posted on 5. April 2011 by Michael McFarlane

A majority of Americans, both owners and renters, still believe in the importance of home ownership. That’s according to a study conducted by Fallon Research & Communications Inc., which reveals that 91 percent of owners and 72 percent of renters believe owning a home is a good financial investment.

As people age, their beliefs in the value of home ownership seem to be reinforced, according to the survey’s results. The study found that 69 percent of people ages 18-29, 76 percent of people ages 30-44, 81 percent of people ages 45-59, and 86 percent of those over 60 believe home ownership is a good investment.

The study also revealed that 68 percent of renters agree that home owners experience a better quality of life due to more stable communities and greater pride in their neighborhoods.

Source: Realtor®.com

What is YOUR opinion? Rent or Own? Please give us your top two reasons for your answer. The summarized findings will be published in an upcoming post (no personal or individual identifying information will be released). How does our area compare to the national scene? Let’s find out!

Questions about YOUR best action? Contact us today for your free, no obligation consultation.

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Why Choose a Realtor®; Buyer’s Perspective

Posted on 2. April 2011 by Michael McFarlane

Over the last few weeks we have published articles on how to choose your Realtor® and why you would even want to. Those articles focused mainly on the selling side of the transaction.

Buyers also need the expertise, skills, and connections of a Realtor® to accomplish their side of the transaction, and to increase the likely-hood of even completing the purchase. Did you know that the number one cause of failed FSBO (For Sale By Owner) transactions is because the level of stress induced is so high that the two parties end up fighting instead of working together?

So, for one let’s get rid of the stress! Hiring a competent Realtor® helps in multiple ways here.

We know the legal issues involved, and how to avoid giving up your rights.
We have the contracts available to make sure every important issue is in writing.
We know the sources to get answers that we don’t know ourselves.
We handle the negotiating for you, at your direction.

Realtors® are trained to understand the market, to know what is and what isn’t a reasonable offer. We have the information that allows you to make an informed decision. We are experienced, so when snags come up we know how to work through them.

A buyer’s agent is paid for by the seller in many cases! The cost is incorporated into the price of a home and negotiated at the time of the listing. Whether you use what is paid for or not, that cost is going to be paid for by the current owners!

Questions about YOUR best action? Contact us today for your free, no obligation consultation.

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Should the Banks be Forced to Accept a Short Sale?

Posted on 1. April 2011 by Michael McFarlane

There is currently a proposal to do just that! The reasoning is that it is more economical to complete a short sale than to allow the delinquency to progress to a foreclosure. We have been arguing this fact for some time. In our opinion, short sales are better for all concerned: the bank, the home owner, even the neighborhood. And that translates into a better economy overall.

$ Read more: Los Angeles Times ð

We would like your opinion. While most would agree that government should not be overly involved in private business, neither should private business expect the government to bail them out without some controls. What do you think?

Why have the banks not followed through on short sales? There are many answers and they vary depending on to whom you are talking. The banks were not prepared for the volume they encountered. Some of the basics we see are as follows:

Large businesses are slow to change. Banks have gotten to be very large businesses, and they are scattered all across the globe.
One department does not know what another department is doing. While loss mitigation might be working on a short sale, foreclosure department continues with the foreclosure.
A serious lack of knowledge (a lack of training) created by the rapid growth of the departments needed to handle this situation.
Lenders themselves were in denial. You know, that “pretend it doesn’t exist and it will go away” attitude.

The list goes on… but the fact remains that we (after all, we, the people, ARE the government) are bailing out the banks. Should we not have some control over how they use our money? Is not the idea to help our economy, which in turn helps us all?

We want your opinion! Please use the comment area below or email us directly to state your view on this subject. Your input will be passed on to Sacramento! Here at Encore Real Estate Services (EncoreRES.com) we are dedicated to building better communities. We are active in the Realtor® Associations (local, state & federal), local and state government, and of course our communities. Your input makes this possible.

Questions about YOUR best action? Contact us today for your free analysis.

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Why Choose a Realtor®?

Posted on 29. March 2011 by Michael McFarlane

Recently we published an article pointing out some of the issues involved with choosing which Realtor® you might have represent you. Something not covered in that post was the question of why choose a Realtor® at all.

For Sale by Owner (FSBO) is no doubt a method you have seen employed. Is this the right approach for you? Chances are…NO. The legal issues are enormous! It is the largest financial decision most people will make in their LIFETIMES! Are these issues you feel comfortable handling yourself? Or would you rather have the assistance of trained professionals at your disposal? Especially since the cost is ZERO! (More on that later.)

While there are thousands of licensed real estate salespeople and brokers in the state of California, only about 1/2 of them are Realtors®. As with most trade groups, there is a standard that must be met and maintained in order to belong. That elevated standard for a Realtor® is well above that required by the state for a license. And it reaches across state lines as NAR, the National Association of Realtors®.

$ read more ð

Above I stated that the cost of hiring a Realtor® is ZERO! No, we don’t work for free. But the monies we make come from the transaction, not your pocket. Just like the steering wheel is a part of the cost your car, transactional costs are figured into the selling price of a home. It is a statistical fact that transactions involving a Realtor® produce a higher profit than those that don’t, and a much higher completion rate. SO, not only were the Realtor’s® services at no cost to you, you actually profit! How good is that?

Questions about YOUR best action? Contact us today for your free analysis. We will happily provide you with the information you need to make an informed decision.

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Going Green: What Does it Mean?

Posted on 26. March 2011 by Michael McFarlane

We think that most would agree that the term generally means to use our resources more efficiently. But that is where the paths seem to part. Part of this is commercialism; the need to make money. Part may be due to a lack of knowledge (who knows EVERY impact a given change will make?).

Most of us would agree that making our homes more energy efficient is a good thing, a green thing. There is a negative here to watch for also, a cost (not just dollars) that must be considered. Sealing your home totally from that outside would reduce that energy required the heat and cool it. But what about the are quality?

Many substances used in our homes are toxic. If we are to live in our home (isn’t that the purpose?) we need to clean this toxic environment from our home. If our home is sealed to the outside, the we must filter the air to remove contaminates. Filtering and air circulation cost money and require the use of energy.

And what do we do with the toxic substances we removed from that air? Land fill, burning, and other methods of disposal have their costs, both in money and environmental issues.

Another issue we think often overlooked is the impact in the production of the materials we use for these energy savings or going green procedures. What toxic materials are used in the manufacturing processes? How are those wastes handled. What about the materials that are being replaced as one retrofits one’s home to be more green?

Whether you consider yourself a “tree hugger”, are trying to save money, or are just interested in being more environmentally responsible we think ALL these questions must be considered. It does little good to spend more than what is saved, either in dollars or (and?) environmental impact.

What it means for YOU? We are all for going more green. Not only is it the responsible thing to do, we believe it necessary for the survival of the earth (at least in conditions humanity can live in). As with most things worthwhile, proper research is required to actually get your desired results. We are in the process of putting together a list of vendors and resources for this very topic. Call us today for more information. 530 315-2808

Questions about YOUR best action? Contact us today for your free analysis.

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Less Stress at Tax Time for Home Owners

Posted on 24. March 2011 by Michael McFarlane

While there are many benefits to owning your home, saving at tax time is doubly appreciated by many. Save money, build personal wealth, invest in your own retirement, building better communities, and many more advantages rate right up there, but the stress relief and the monetary gains of home ownership are hard to beat.

These savings are NOT just for the rich! Interest paid on your mortgage is tax deductible. (As you have probably seen, in the first years of paying your new mortgage nearly all of it goes to interest!) Maintenance on your home is deductible. Upgrades and repairs too. Of course these statements are general; consult your tax advisor (whether that be a paid professional, your aunt Mary, or yourself) for your specific benefits.

Where else do you get paid for saving money? Yes, if you installed a new energy efficient water heater to save on your power bill, you can often also claim tax rebates and/or deductions if these were added to a home you own. Many other appliances fit this group: A/C, heating, laundry, kitchen, etc.

Making your home more green (energy efficient) pays double also! Like the energy saving appliances, you save on power costs, maintenance costs, get tax rebates, and tax deductions. Yes, you really do get paid to save money!

$ read more ð

Please remember while these statements will apply to most, they are general in nature; consult your tax advisor (whether that be a paid professional, your aunt Mary, or yourself) for your specific benefits.

Questions about YOUR best action? Contact us today for your free analysis. We will happily point out possibly overlooked items for your tax professional.

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Like to Buy but Have No (or too Little) Down Payment?

Posted on 22. March 2011 by Michael McFarlane

That lack of an adequate down payment is the primary obstacle to many new or first time home buyers. While most may have heard that assistance is available, many don’t know where to turn.

The mortgage industry has become very complicated. Often a loan agent doesn’t know of programs outside of what their company offers. They may be reluctant to steer someone outside their company if they do know. Even your Realtor® may not know (while many have general mortgage awareness, most are not trained in loans).

A new resource (Down Payment Resource) has been created just for this reason. If you are interested and can qualify, assistance comes in many forms. Cash, deferred loans, grants, and other terms might be available. There are city and county programs available in addition to the FHA terms usually bantered about.

$ Source: Inman News ð

What it means for YOU? Click the link above or contact Yuba Sutter Homes And Loans to see if you qualify. Or maybe you are interested in selling your home: knowing what programs are available might make the difference to your potential buyer! Call us today to find out. 530 315-2808

Questions about YOUR best action? Contact us today for your free analysis.

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