WOW! Rents at an All-Time High

Rents are at an all-time high for single-family homes according to Zillow‘s affordability report for the second quarter of 2015.

Did you know that consumers are currently spending an average of twice as much of their monthly income on rents as they are on mortgage payments?

Money talks! This is WHY NOW is a good time to buy a home, not only good! It is the best time to buy a house.

Sandy Flores Broker/Realtor (714) 963-7462

There is not doubt rents will likely keep rising at their current pace, and it is a fact high rents make it difficult to save for a down payment. Well, I have GOOD NEWS for you! There are down payment assistance programs that can help you buy your first home! Let’s GO!

   

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Getting your home ready to Sell!

reduced2Getting your home ready to sell can seem overwhelming, but it doesn’t have to be. However, you need to look at your home from the perspective of a potential buyer.

Here are some tips that can help you on getting your home ready for sell boosting its curb appeal:

  • Add color to you landscape by either replacing flower beds or potted flowers, along with fresh sod.
  • Replace light fixtures and plumbing fixtures that will give your home a modern touch for a minimal investment.
  • Remove window treatments, unless they are current and high-end. That cuts the risk of turning off would-be buyers who don’t share your taste, and uncovered windows that will let more light into the rooms.
  • If you’re using your dining or a bedroom as an office for example, turn it back to their original use.
  • Replace dirty or worn carpet, you’re better off removing the carpet if there are hardwood floors underneath.
  • Uncluttered your house by packing away items that you will not use on an every day basis is a must. You want the new family to envision themselves living in the home.
  • A deep cleaning before you put your home on the market is a must, so everything shines.
  • Repaint all rooms in neutral colors. A fresh coat of paint also makes the house look newer and more modern.

Focus on low cost improvements! This will enhance your house’s curb appeal, and get your house ready to Sell!

Sandy Flores Broker/Realtor (714)963-7462

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Tienes un Prestamo HELOC?

Informate de la expiracion de este tipo de prestamo si lo tienes. Muchos de estos HELOCS estan iniciando a reactivarse y van con intereses muy altos y variables. Tu tienes la opcion de aplicar para una modificacion bajo el Making Home Affordable en segundas hipotecas o refinanciar tu propiedad combinando los dos prestamos en un solo pago.

Como siempre informate!  www.sandyflores.com

 

 

Is home remodeling worth the investment?

Is home remodeling worth the investment?

painting a homeMore Renovations are not Necessarily Better. Before you begin any major projects, it’s important to assess your home’s value and the neighborhood it’s in. Determine what it will be the approximate return on the investment (ROI) based on the current market value or how long you plan on staying in the house.

Be sure that your home renovations will add to the value of your home, but also aware that getting too extravagant may not bring the ROI you’re expecting.

The value of remodeling projects depends on several factors. First, take in consideration how old is the structure of the building, as well as, the general condition and the real need for the home-remodeling project.

The appearance of a house on the outside is what gives an initial and lasting impression.   Keep the exterior paint in good condition with no flakes or chips and roof should be clear of damaged shingles.

If paint on window shutters or trim is chipped, a new coat will refresh them and give your house a whole new look. These are inexpensive investments that are worth the cost.

Bath and kitchen areas are the most important rooms within a home. Remodeling a kitchen or bathroom can cost thousands of dollars but in many cases all they need is some sprucing up with paint or new floor material.

If the kitchen cabinets are in good condition, do not replace them with a complete kitchen remodeling job. They can be sanded and painted or stained for a lot less money. Replacing the knobs and handles will do the job as well giving them a whole new look and won’t cost a great deal of money.

Replacing an antiquated bathroom vanity and an old toilet is not very expensive and is not considered a major bathroom remodeling job. New bathroom fixtures from bathroom designer warehouses at cut-rate prices are also good options. Updating an old sink is as well inexpensive remodeling task. All these home-remodeling projects are worth the investment.

Be aware, that you don’t want to do work that makes your house worth $800,000. when the average market in your area is only $500,000.

Certain home renovations are a win-win situation, providing enjoyment to you, the homeowner, and then making your home more marketable, and worth more, in the future. Other renovations, however, can set you back thousands with no guarantee of future payoff on the Return of the Investment (ROI).

Don’t exceed the ceiling for the value of the homes in your neighborhood, or you won’t get your money back. Remodeling can cost a pretty penny, however it can provide significant returns when it comes time to sell your home, if you do it right!

Visit: http://www.sandyflores.com

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Keep Your Money Where It Is, if you’re planning on buying a home!

Keep Your Money Where It Is, if you’re planning on buying a home!

spend_less_money_save_moreIt’s not wise to make any huge purchases or move your money around three to six months before buying a home. You don’t want to take any big chances with your credit profile. Lenders need to see that you’re reliable and they want a complete paper trail so that they can get you the best loan possible.

If you open new credit cards, amass too much debt or buy a lot of big ticket items, you’re going to have a hard time getting a loan.

Homeowners may be hit with a massive Tax Bills if extension is not granted by Congress.

Homeowners may be hit with a massive Tax Bills if extension is not granted by Congress.

Congress has left unrenewed The Mortgage Forgiveness Debt Relief Act of 2007 created to help distressed homeowners; that were faced with taxes after a Principal reduction. Under current federal Pay-Estimated-Taxestax law, when the homeowners accept reductions in what they owe, the amount forgiven by the bank gets reported to the IRS, and the owner is hit with taxes as  if it were ordinary income.

Without Congressional action to renew the breaks, those whom banks allowed to sell their homes for less than the amount of their mortgage would have to pay taxes on the forgiven mortgage debt as if it were income, and it will hit hard on homeowners with a massive tax bills. This Congressional inaction could add $75K  in phantom income.

RealtyTrac estimates that in the first three-quarters of 2014, there have been more than 170,000 short sales representing a mortgage debt forgiveness of $8.1 billion total. The average short sale has a mortgage forgiveness of about $75,000, which if the tax break expires would be counted as income.

If Congress does not extend the law retroactively thousands of underwater homeowners could be hit with tax burdens that may not be able to handle.

 

Secured Property Taxes Due on November 1st.

Secured Property Taxes Due on November 1st.

All property owners in California must pay taxes that are based on the value of their homes or commercial property. Property taxes are paid in two installments. The fiscal year’s first property tax bills are mailed out on October 1st; the first installment is due by November 1st, and is considered delinquent on December 10th. The second installment is due February 1st, and this payment is considered delinquent after April 10th. Property Taxes Due Now copy

For many California taxpayers, the property tax bill is one of the largest tax payments they make each year. For thousands of California local governments—K–12 schools, community colleges, cities, counties, and special districts—revenue from property tax bills represents the foundation of their budgets.

 

A California property tax bill includes a variety of different taxes and charges.

Among them,

  • The 1 percent rate established by Proposition 13 (1978). Under Proposition 13, a referendum passed in 1978, property taxes may not exceed 1 percent of the assessed value of your home. And cannot rise by an amount greater than the rate of inflation, as measured by the Consumer Price Index, up to a limit of 2 percent a year.
  • Additional tax rates to pay for local voter–approved debt.
  • Property assessments.
  • Mello–Roos taxes.
  • Parcel taxes.

Your Home: Modern or Traditional?

Your Home: Modern or Traditional?

fantastic-modest-white-color-scheme-living-roomNothing is extra comfortable than coming back to our homes, full of heat and love after taking care of  stack of issues at work.

Decorating or redesigning our homes should not be thought as an expensive or complicated activity.

We have to make sure that the design Open Plan Livingwe choose will be sophisticated rather than unnecessary. Color, style and balance are not a neutral sort of thing. It affects us and how we see our surroundings.

The usage of appropriate color scheme and fabrics to emphasize and provide light for the rooms in our home play a very important role.     Balance is the most important part of home decorating, and it applies to colors as Luxury Home Kitchen.well. They have the power to affect        how we perceive things.

Room colors can influence our mood and our thoughts. Colors affect people in many ways, depending upon one’s age, gender, ethnic background or local climate. So when it comes to decorating, it is important to choose wisely.

You do not have to worry too much about trends, as they come and go. Make your home beautiful by choosing Colors and styles that reflect your personality.  Have fun!

Fact or Fiction: Tax relief for homeowners’ on debt forgiveness.

Fact or Fiction: Tax relief for homeowners’ on debt forgiveness.

Congress is now back from its summer vacation, so the burning financial question on thousands of homeowners’ minds right now is this: Are you finally going to help the consumers who are underwater on their mortgages and have already accepted a principal reduction by their lenders? 20131125_fact copy

Under current federal tax law, when the homeowners accept reductions in what they owe, the amount forgiven by the bank gets reported to the IRS, and the owner is hit with taxes as if it were ordinary income.

The Mortgage Forgiveness Debt Relief Act of 2007 was created to help distressed homeowners; that were faced with taxes after a Principal reduction; however this law has already expired Dec. 31, 2013.

If Congress does not extend the law retroactively thousands of underwater homeowners could be hit with tax burdens they may not be able to handle. We hope for the Best!

U.S. construction spending rebounds strongly

U.S. construction spending rebounds strongly

construction-spending-misses-expectations-falls-06U.S. construction spending rebounded strongly to hit its highest level in more than 5½ years in July.

Construction spending increased 1.8 percent to an annual rate of $981.31 billion, the highest level since December 2008, said the Commerce Department on Tuesday.

The housing market recovery is back on track after stagnating from the second half of 2013 in the wake of a spike in mortgage rates and higher home prices amid a stock shortage.