Financial Perks of Homeownership!

Now is the time to buy a home.  Prices are starting to rise and inventory is low.  Work with someone who has experience getting it done!

 

Barbara Whisenant

Solutions Real Estate

DRE# 01357594

“A referral is sending someone you care about, to someone you trust.”

Solutions Real Estate

6005 Hidden Valley Rd #280

Carlsbad, CA 92011

Cell: 760-583-2107

E-Fax: 760-496-1649

Email: barbarawhis@gmail.com

Website: http://www.Homes4SaleSanDiego.com

 

Carlsbad

Aviara, Bella Lago, Cantata, Seaside, Isla Mar, Mar Fiore, Bay Collection, Chesapea, Ezan, La Costa Oaks, La Costa Ridge, Arroyo Vista, La Costa Estates, La Costa Greens, Tiburon, Tiburon, Saddle Ridge, The Estates In Rancho Carrillo, Rancho Carrillo, Magnolia Estates, Bressi Ranch, The Ranch, Seaside Estates, Emerald Pointe Estates, San Sebastian, The Beach, Spinnaker Hill, Olde Carlsbad, Spyglass, Carlsbad Village By The Sea, Carlsbad Highlands, Terramar, Palisades, Hanover Beach Colony, Beach, Carlsbad North, Carlsbad South, Carlsbad West, Carlsbad East, Old Carlsbad, San Sebastian, San Pacifico, Emerald Pointe Estates, Aviara Point, La Costa, Halcyon Estates, Shelbourne, Balearas, Crescent Del Sol Estates, Agua Hedionda Lagoon, Evans Point, Blue Lagoon Estates, Hidden Ridge, Hillgate Estates, Telescope Point, Carlsbad Highland, Canterbury, Brentwood Heights, Evans Point, Wind Song, Windsong, Brentwood Heights, Telescope Point, Capri, Colinas De Oro, Rancho Ponderosa, Solterra At La Costa, Rockledge At La Costa, Corona La Costa, Greystone On The Park, Ponderosa, Solterra, Tradicions La Costa, Tradicions, La Costa Knolls, Copperwood, Sonata, The Fairways, Calavera Hills, Sunny Creek Terraces, Foothills, Rock Rose, Montara, Spinnaker Point, Pacific Estates, Seaport, The Cave, Harbor Pointe, Harbor Pointe, Rosalena, Avocet, Waters End, Poinsettia Cove

Rancho Santa Fe

Rancho Santa Fe, Covenant, Montecito, Del Rayo Downs, Del Rayo, Hacienda Santa Fe, Cielo, Whispering Palms, Rancho Del Rio, Santa Fe Sur, The Groves, Rancho Diegueno Estates, Fairbanks Ranch, South Pointe Farms, Santa Fe Sur, East Del Mar, Sun Valley, Rsf Lakes, Rancho Santa Fe Lakes, Loma Del Cielo, Morgan, Villas At The Bridges, Villas, The Bridges

Encinitas

Encinitas Ranch, Quail Gardens, Palomares Heights, Maravu, Crest Acres, Encinitas Highlands, Palomares Heights Annex, Sandalwood, South Coast Park, Neptune, Olde Leucadia, Leucadia, Avocado Acres, Pacific Crest, Nantucket, Passiflora Acres, Villa Olivenhain. Olivenhain, Halcyon Estates, Beachwalk Estates, Beacons, Olive Crest, San Elijo Ranch, Windsor Estates, Country Rose, Knightsbridge, Morning Sun Ranch, Copper Creek Estates, Dove Hollow, Double Ll Ranch, Moonlight Beach, Bryans Addition, New Villanitas, Summerfield, Cantebria, Skyloft, Vida Pacifica, Northview, Bay Laurel, Fox Point, Morning Sun

Solana Beach

Solana Beach, Loma Del Cielo, Santa Fe Hills, San Elijo Hills, Olde Solana Beach, Olde Solana, Sanctuary, Isla Verde, Isla Verde, Midori, Sweeping White Water, Cedros Design

San Marcos

Varadero, Lake San Marcos, Twin Oaks Valley, Laurels, Discovery Hills, San Elijo Hills, Acacia, Stone Canyon, Mariner's Landing, Buenavida, Sonrisa, Stoneridge Park, The Laurels, Windsor Rose, Buenavida, Stonebrook, Terraza, Falcon Ridge, Hampton Hills, Terraza, Rancho Dorado, Old Creek Ranch, Atherton, Blue Ridge Estates, Venzano, Coronado Hills, Promontory Ridge, Esperanza

Oceanside

Bryans Addition, Ocean Views, The Beach, South Oceanside, S Oceanside, Saint Malo Beach, Morning Sun, Sea Breeze Cottages, Sea Breeze, The Cottages, Buena Vista Highlands, Vista Pacifica, Henie Hills, Ridgeview, Ocean Hills, So Oro, Panorama Ridge, Arrowood, Morro Hills Village, Wilmont Ranch, The Heartlands, Windham, The Heartland, Ivy Ranch, The Heartland, The Missions, Breakaway, Buckingham, Guajome Lake,  Ridge Trails, Spinnaker Ridge, Summit, Rancho Del Oro

California Home & Loan Headlines

Sacramento Bee

Home prices rise despite fewer sales

Following the expiration of the federal home buyers tax credit, sales of existing, single-family homes in California declined 4.2 percent during the month of June compared with the prior year, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) June sales and price report. Meanwhile, the median price of existing homes in California rose 13.6 percent on a year-to-year basis to $311,950. The median price is the point at which half of the homes on the market sell for more and half for less.

KEEP THIS IN MIND

• Although the median home price in California rose in June on a year-to-year basis, in month-to-month comparisons the median price declined 3.8 percent, according to C.A.R.’s report. Despite the slight decline in month-to-month home sales, California’s housing market continues to recover at a quicker pace than the national housing market. Nationwide, home sales declined 5 percent in June and the median price rose only 1 percent, according to a report from the NATIONAL ASSOCIATION OF REALTORS® (NAR).

• C.A.R. expects home sales to be lower in the second half of the year because of the absence of the federal home buyers tax credit, but sales should remain above the long-run average and be significantly higher than the trough in 2007.

• According to C.A.R. President Steve Goddard, “It’s important to keep in mind that home prices are substantially below their peaks and interest rates remain at historic lows, making this a very affordable time for many first-time buyers to purchase a home of their own.”

• Home prices continued to post modest gains in June, due in large part to the lean inventory of homes for sale in many regions of the state. C.A.R.’s Unsold Inventory Index slightly rose to 4.8 months in June compared with 4.6 months in May and 4.2 months in June 2009. However, inventory remains well below the long-run average of a 7.1-month supply. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.

To read the full story, please click here: http://www.sacbee.com/2010/07/23/2909637/home-prices-rise-despite-fewer.html

In Other News…

Los Angeles Times

Credit rescoring can help you qualify for a mortgage

Rapid rescorings by independent, legitimate firms use procedures approved by the three major credit bureaus and can help correct errors or omissions that are dragging down your scores.

To read the full story, please click here: http://www.latimes.com/business/realestate/la-fi-harney-20100725,0,7390703.story

 

Los Angeles Times

Sellers should ensure that condo projects are on approved list for FHA mortgages Condominium owners who are trying to sell in today’s agonizingly slow housing market should make sure that their community is on the Federal Housing Administration’s approved list. Ditto for someone who is thinking about refinancing a condo.

To read the full story, please click here: http://www.latimes.com/business/realestate/la-fi-lew-20100725,0,7727492.story

 

Wall Street Journal

Mortgage delinquencies fall in June, still near record high

Some 9.39 percent of all loans were 30 days or more past due, down from 9.54 percent in May, according to LPS Applied Analytics, which tracks loan data. An additional 3.69 percent of mortgages were in some stage of foreclosure, down from 3.72 percent in May and the record high of 3.81 percent in March.

To read the full story, please click here: http://blogs.wsj.com/developments/2010/07/26/mortgage-delinquencies-fall-in-june-still-near-record- highs/

 

Los Angeles Times

Home prices tick up 4.6 percent in May

Home prices in 20 major U.S. cities gained in May, according to data released Tuesday, boosted by the effects of federal tax credits that have now expired.

To read the full story, please click here: http://www.latimes.com/business/la-fi-home-prices-20100728,0,7277846.story

 

San Diego Union-Tribune

Consumer confidence falls to lowest since February

Americans’ confidence in the economy eroded further in July amid worries about a still-stagnant job market. The report raised concerns about the overall economy and the back-to-school season.

To read the full story, please click here: http://www.signonsandiego.com/news/2010/jul/27/consumer-confidence-falls-to-lowest-since- february/

 

Wall Street Journal

The threat of “sidelined” home sellers

How many homeowners have been sitting on the sidelines during the housing downturn, waiting for massive price plunges to pass? The prospect of home-price stabilization is raising that question in some of the nation’s housing markets, say real-estate agents, who report an uptick in listings from “sidelined” sellers testing the waters.

To read the full story, please click here: http://blogs.wsj.com/developments/2010/07/27/the-threat-of-sidelined-home-sellers/

Bloomberg

Americans tap $8.3 billion in home equity, least in a decade

Americans in the second quarter tapped the smallest amount of home equity in a decade, showing households are focused on repairing tattered finances.

To read the full story, please click here: http://www.bloomberg.com/news/2010-07-28/americans-use-of-8-3-billion-in-home-equity-last- quarter-least-in-decade.html

 

Wall Street Journal

Doubling down on housing

The housing crash has left at least 11 million people in the unenviable position of owing more on their homes than they are worth—and many more millions with properties worth far less than they paid for them.

To read the full story, please click here: http://online.wsj.com/article/SB10001424052748704421304575383490870014662.html?mod=WSJ_hpp_sections_personalfinance

What you should know about the market

• Federal foreclosure-prevention programs have been expanded to encourage delinquent borrowers to avoid foreclosure by streamlining the short-sale process. In the new program, participating lenders now are required to advise eligible sellers of the minimum amount they will accept for the short sale prior to the house being listed for sale. If the seller secures an offer for the agreed price and meets the lender’s terms of the short sale, the lender must approve the proposed sale within 10 days.

• Another component of the new streamlined process requires the property to be listed with a licensed real estate professional who works in the community where the property is located. However, homeowners should be aware that because short sales require the bank to accept an amount less than the amount due on the mortgage, lenders may not approve a short sale, even if the price is comparable to recent sales in the neighborhood.

Brought to you by the CALIFORNIA ASSOCIATION OF REALTORS®

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Sincerely,

Barbara Whisenant

A Division of Richard Realty Groups, Inc 6986 El Camino Real, Ste. H, Carlsbad, CA. 92009                     Office Line: (760) 603-8377 Ext 311    Cell: (760) 583-2107

Appealing Your Property Tax Bill

Appealing Your Property Tax Bill

If your San Diego County property tax is aligned with or assessed based on the value of your home, a swing in property values could warrant close scrutiny of your property tax bill.

Some more progressive tax jurisdictions will make the adjustment for you -- up or down -- but most only move your rate up or they'll wait for the property to change hands before adjusting the tax.

Even where adjustments are automatic, you still may not be satisfied and will need to appeal the deal.

Over valued or over assessed property is perhaps the most common and successful grounds for challenging your tax bill.

When the economy is faltering and spawning foreclosures, short sales and homeowners otherwise bailing out of homeownership, consider it a red flag -- it's time to scrutinize your property tax bill.

Many homeowners bailout, accept the foreclosure or take the short sale way out because their mortgage is more than the value of the home, which may have fallen for a variety of reasons.

The incidence of incorrectly calculated property tax bills may also warrant a close inspection of your property tax bill or an appeal.

Many errors in calculating your property tax bill also stem from clerical mistakes according to the American Homeowners Association (AHA) which, along with the National Taxpayers Union, offers a low-cost kit to help you check our property tax's accuracy and, if necessary, attempt to lower your levy.

Visit the San Diego County Tax Assessors office  (http://arcc.co.san-diego.ca.us/default.aspx) and download the form “Application for Changed Assessment”.  Call me and I will send you the comparables you will need to complete the form.

Tell-tale signs your property tax could warrant an adjustment include:

• Errors in the description of your property on the tax bill.
• Compatible homes in the area that have sold for less than your appraised value.
• Neighbors with lower assessments on similar houses. Keep in mind some homes retain the same assessed value for years and assessed values often don't rise or fall in step with market values or home sale prices.
• Value reducers in your home or area, including drainage problems, easements, re-zoning, heavy traffic, nearby railroad tracks, freeways, industry or toxic waste.
• Depreciation factors, including the quality of materials, inefficient heating, structural cracks, deterioration, or chronic defects.

When you examine your tax records in the local assessor's or property tax office to make sure the information is complete and accurate also ask yourself:

• Did you buy your home in a bidding war? An overvalued property is an over assessed property.
• Are there errors in your tax records? Look closely at your records and make sure there aren't reporting errors. A condo listed as a single-family home, square footage that's off, too many rooms and more can falsely boost assessed value.
• Do the math. Many states put a cap on how much above the market value an assessment can be and how much it can rise each year.

If you need to appeal the assessed value and related property tax, prepare yourself for a time-consuming ordeal.

In most cases the process is free for taxpayers, but you may want to enlist the aid of a licensed professional to assist you.

Typically, you'll have to find three, five or more comparable homes in your neighborhood that have lower assessments. Obviously, the lower the better. Also, the more comparables, the stronger your case. Truly comparable homes are homes nearly identical to your home's floor plan, age, lot size, improvements and other factors.

The information is largely public and available, with some digging, from your tax assessor's or property tax office, but you can hire a real estate agent or other professional with access to your local multiple listing service. They can quickly generate a comparable market analysis of homes both recently sold and those in escrow to hone in on your home's true value.

An appraiser with multiple listing service access can do the same, as well as perform an appraisal of your home.

If you hire a professional you could be out a few hundred dollars. Don't make a case if you don't think it's worth the cost to appeal. Call me and I will send you the comparables you will need to complete the form.

Approach the appeal objectively, not with an adversarial chip on your shoulder. You only want your due, not to incite the property tax system.

If at first you don't succeed, be prepared to appeal to a higher authority.
Written by Broderick Perkins

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P.S. It's my intention to build lifelong relationships one client at a time. If you know of a friend, co-worker or family member who has a real estate need, please contact me. Your personal referrals are the greatest compliment I can receive!

A Division of Richard Realty Groups, Inc 5411 Avenida Encinas, Suite 110, Carlsbad, CA. 92008 Cell: (760) 583-2107    eFax: (760) 496-1649   DRE# 01357594