Hey guys just wanted to give you some info on the First Time Home Buyer Tax Credit. The program allows for buyer’s who haven’t owned a home for at least three years to take a credit against their 2009 tax return if they buy a house as their primary residence.

It is another great reason for your 1st time buyer prospects to Buy Now!

How the Tax Credit Works

This program ends July 1, 2009. The credit amount is 10 percent of the home price up to a maximum $7,500.

Income limits are $75,000 for individuals and $150,000 for households.

The credit must be paid back over 15 years, so it acts like a zero interest loan.

The National Association of Realtors is seeking to extend the end date, expand the credit to include ALL buyers, and have the repayment requirement eliminated.

I’ll keep you posted once that happens.

Click on the link below to get more details on How the Tax Credit Works.

How the Tax Credit Works

With best regards,

Chris Ha

A BETTER GREEN HOME INSPECTION COMPANY

WE PROVIDE PRE-LISTING , BUYER HOME INSPECTIONS AND TERMITE INSPECTIONS

Our company has partnered with a State Licensed Termite Inspection Company for you convenience.

(Buyers, Sellers and Agents)

Also every inspection shows you how to make your home a Greener Home. We provide over 35 pages of information on how to cut costs from Heating and Cooling to Duct Sealing and Programming of Thermostat to save money. Our reports are computer generated with summary of all issues and photos The report will be completed within 24 hours and sent to you via e-mail, mail, or fax.
In-Demand Property Inspections is a Green Premier Residential & Green Commercial Inspection Company. We offer our services for the concerned & well informed smart home buyer or sellers. We provide comprehensive, professional, and thorough inspections. We have 2 offices for your convenience; one in the Sacramento Valley and one in the SF Bay Area.

The purchase of a new home is the single most important investment you will ever make in your lifetime. The misfortune of discovering a defect after becoming the owner could be very frustrating and costly. We have the practical and professional experience that assures an accurate and honest evaluation of your prospective home or the home you will be selling. Through the scrutiny of a professional home inspection, we will evaluate the various systems and components of the house, while objectively sharing our information and experience with you during the process. The inspection will report on all accessible structural, mechanical an electrical systems that comprise the building and grounds including:

STRUCTURAL SOUNDNESS

VISIBLE ASPECTS OF INTERIOR

ELECTRICAL SYSTEM

EXTERIOR OF HOME

HEATING & COOLING SYSTEM

ROOFING, GUTTERS & FLASHING

PLUMBING SYSTEMS

GROUNDS & OUTBUILDINGS

WASTE DISCHARGE SYSTEM

IN-DEMAND PROPERTY INSPECTIONS CONTACT INFO.DIRECT(415)760-6040 SEVAN TELLEZ

DIRECT(916)870-4588 ALFREDO TELLEZ III

DIRECT(916)662-1924 ALFREDO TELLEZ JR. HABLA ESPANOL

INDEMANDPROPERTY@GMAIL.COM

(Property Inspectors)
The above inspector has been professionally trained to perform home inspections in a licensed home inspection training programs, provided by Inspection Training Associates, the National leader in home inspection training. ASHI and CREIA endorsed.

 

 

 

 

As a result of Senate Bill 1461 (Negrete McLeod), effective July 1, 2009, California real estate licensees will have to have their license number displayed on “all solicitation materials intended to be the first point of contact with consumers…”.

This includes “business cards, stationery, advertising flyers, and other materials designed to solicit the creation of a professional relationship between the licensee and a consumer… .” It will not include “an advertisement in print or electronic media and ‘for sale’ signs.”

There are various reasons a person might want to know an agent’s license number. For one thing, it is against the law to pay an unlicensed person for performing real estate services.

SB 1461 also requires that the agent’s license number must appear “on real property purchase agreements” when the person is acting as an agent in the transaction. This will generally be easy to do, as the standard purchase agreement that is produced by the California Association of Realtors® (CAR) already contains a place for such information, even though it is not currently mandatory.

Requiring that the agent’s license number be on the contract will make it easier on escrow companies to fulfill their duty to make sure that they don’t issue commission checks to unlicensed persons.

All agents must order new business cards with their DRE License # by July 1, 2009. Please also include your license # on any advertising and flyers, and also make sure page 3 of your 1003 in Calyx Point has your license # listed when you fill out a 1003 loan application and page #8 of the Residential Purchase Agreement on all purchase contracts have your license # listed.

Hi,

A Valero gas station is available for sale with property in Sacramento.

Highlights:

* Asking price: $2.2 million. With around $50,000 down payment, seller will finance the balance.
* Inside store sales: $85,000 to $90,000 per month.
* Has full liquor license.
* Outside volumes: 150,000 gallons per month.
* Great Arden area location.

If you or anybody you know is looking for a high volume gas station, this is the one. Clean site, seller financing and awesome location. Please contact me right away. Thank you for your time.

Rick Lahkar
916.821.8886 :Cell
916.437.2505 :Direct
916.669.8076 :Fax
www.adbusinessgroup.com

 

Loan modification activity forestalls impact of negative equity

Discovery Bay, CA, November 12, 2008 ForeclosureRadar, the only website that tracks every California foreclosure with daily auction updates; today issued its California Foreclosure Report for October 2008. Foreclosure sales dropped by 39.1 percent from the prior month, due to significant increases in cancellations and postponements. Under California law, scheduled foreclosure sales can be postponed for a period of up to one year, until they are either cancelled or sold. Cancellations, where the home is taken out of foreclosure, increased by 78 percent in October, resulting in nearly 20 percent of foreclosure sales scheduled for October being called off.

Notice of Default filings, which start the foreclosure process, continue to be significantly impacted by CA State Senate Bill 1137, as lenders work through the new requirements the law imposed. Notices of Trustee Sale, however, rebounded after a significant drop the prior month.

High-level findings include:

·        Notice of Default filings increased slightly in October, up 2.8 percent from September, to a total of 16,810 filings. Year over year, Notice of Default filings are down 42.3 percent.

·        Notices of Trustee Sale, which schedule the auction date and time, increased by 32.9 percent in October, to 25,408 filings. Despite the significant increase, this level of filings remains well below average levels earlier this year, as September levels were clearly impacted by CA State Senate Bill 1137.

·        Properties taken to sale at auction declined by 39.1 percent from September, to 14,042 sales, with a combined loan balance of $6.39 Billion. This represents a 28.8 percent increase from the prior year.

·        Lenders took back 94 percent of the properties taken to auction, with a combined loan value of $9.19 Billion. Third party purchases declined 24 percent from the prior month, but increased 25 percent (as a percentage of all foreclosure sales), due to the decline in sales activity.

"It is important to note that the significant decline in October foreclosure sales cannot be directly attributed to CA State Senate Bill 1137," said Sean O’Toole, founder of ForeclosureRadar. "There were nearly 60,000 properties scheduled for sale at the beginning of October over which the law had no affect. The drop in foreclosure sales, therefore, can only be reasonably attributed to changes introduced by the lenders themselves and not in response to SB 1137."

The increase in cancellations was led primarily by Countrywide which saw a 460 percent increase in cancellations from the prior month, and a 48 percent decline in the number of properties they sold at auction. Other lenders had similar drops in foreclosure sales, though more often due to postponement, rather than cancellation as in Countrywide’s case. Statewide, the percentage of foreclosure sales that had postponed at least once, increased from 36 percent of sales to 58 percent of sales, with the average length of postponement increasing from 24 days to 42 days.

"It would be a mistake to conclude that the declines in foreclosure activity indicate that the foreclosure crisis is over," continued O’Toole. "While lenders now appear to be embracing the concept of foreclosure moratoriums and loan modifications, neither typically address the core issue of negative equity. Most loan modifications focus on lowering payments to affordable levels by using unsustainably low interest rates, not unlike the ‘teaser rates’ that many have blamed for the current crisis."

Average discounts offered by lenders on the outstanding loan balance at foreclosure auction declined slightly from prior months, and averaged 36.1 percent statewide, with 33 percent of properties taken to auction being offered at discounts of 50 percent or more.

At the county level there was little significant change in rankings between counties, and almost all had drops in foreclosure sales activity that roughly reflected the statewide declines.

ForeclosureRadar October Report by County
Rank	Change In Rank	County	NDF	NTS	Sales	Population Per Sale	% Change Sept. 2008	% Change Oct. 2007
1	0	Merced	190	376	288	857	-32%	58%
2	1	Riverside	2037	3099	1743	1,121	-42%	6%
3	7	Yuba	60	81	62	1,126	-14%	22%
4	0	Stanislaus	404	796	447	1,151	-41%	10%
5	-3	San Joaquin	543	1066	559	1,192	-46%	-14%
6	3	San Benito	10	19	46	1,253	-29%	77%
7	0	San Bernardino	1752	2427	1450	1,374	-36%	25%
8	0	Madera	87	186	98	1,473	-39%	44%
9	-4	Solano	329	572	281	1,505	-43%	12%
10	-4	Sacramento	892	1585	881	1,573	-44%	-15%
11	0	Contra Costa	652	1083	649	1,586	-36%	18%
12	5	Imperial	93	153	94	1,772	-27%	54%
13	-1	Kern	565	763	413	1,888	-45%	-5%
14	0	Monterey	199	409	221	1,922	-40%	64%
15	18	Mariposa	2	6	9	2,024	13%	800%
16	-3	Calaveras	1	0	21	2,177	-49%	250%
17	2	Placer	233	240	142	2,229	-35%	-11%
18	13	El Dorado	91	104	69	2,554	-17%	0%
19	13	Tuolumne	31	34	22	2,647	-15%	214%
20	-5	Lake	19	25	24	2,671	-54%	-14%
21	-1	Fresno	438	608	329	2,734	-42%	8%
22	-6	Sutter	39	89	33	2,771	-54%	-20%
23	3	San Diego	1217	1863	1080	2,840	-33%	28%
24	6	Amador	23	14	13	2,933	-32%	44%
25	-2	Sonoma	178	290	161	2,981	-41%	49%
26	-2	Napa	36	98	43	3,127	-43%	30%
27	-2	Alameda	541	947	478	3,141	-40%	9%
28	-1	Tulare	177	235	133	3,163	-39%	46%
29	12	Nevada	41	49	30	3,336	-9%	36%
30	-8	Sierra	1	0	1	3,501	-50%	200%
31	-2	Ventura	258	418	231	3,538	-44%	4%
32	-14	Colusa	1	0	6	3,585	-67%	500%
33	-12	Yolo	71	124	51	3,732	-54%	-22%
34	12	Shasta	87	80	43	4,221	-12%	30%
35	1	Los Angeles	3557	4839	2413	4,246	-36%	24%
36	-8	Plumas	3	2	5	4,289	-55%	150%
37	12	Tehama	1	0	14	4,395	-59%	-22%
38	4	San Luis Obispo	85	101	57	4,618	-34%	16%
39	0	Orange	947	1384	662	4,641	-37%	18%
40	-5	Santa Barbara	93	165	89	4,737	-48%	-12%
41	2	Santa Cruz	61	102	55	4,770	-35%	41%
42	6	Glenn	2	2	6	4,775	-40%	20%
43	-6	Santa Clara	499	811	364	4,872	-44%	54%
44	1	Siskiyou	12	9	9	5,127	-31%	200%
45	-5	Butte	33	33	36	6,034	-63%	-8%
46	-8	Kings	52	48	20	7,386	-62%	-13%
47	3	San Mateo	136	163	88	8,228	-47%	22%
48	5	Marin	51	59	27	9,383	-40%	69%
49	-5	Modoc	4	1	1	9,836	-67%	-75%
50	2	Mendocino	24	18	8	11,306	-53%	100%
51	-4	Lassen	1	0	3	11,817	-70%	-75%
52	2	Humboldt	17	23	8	16,566	-64%	-20%
53	4	San Francisco	70	95	27	29,581	-47%	-41%

CALIFORNIA FORECLOSURE REPORT METHODOLOGY
Rankings are based on population per foreclosure sale. NDF indicates the number of Notices of Default that were filed at the county, and NTS indicates filed Notices of Trustee Sale. Sales indicates the number of properties sold at foreclosure auction. Percentage changes are based on monthly Sales. The data presented by ForeclosureRadar is based on county records and individual sales results from daily foreclosure auctions throughout the state—not estimates or projections.

 

http://www.discoverhorizon.com/dl.aspx?i=c9×7%2bp4JQZs%3d

A BETTER GREEN HOME INSPECTION COMPANY

WE PROVIDE PRE-LISTING , BUYER HOME INSPECTIONS AND TERMITE INSPECTIONS

Our company has partnered with a State Licensed Termite Inspection Company for you convenience.

(Buyers, Sellers and Agents)

Also every inspection shows you how to make your home a Greener Home. We provide over 35 pages of information on how to cut costs from Heating and Cooling to Duct Sealing and Programming of Thermostat to save money. Our reports are computer generated with summary of all issues and photos The report will be completed within 24 hours and sent to you via e-mail, mail, or fax.

In-Demand Property Inspections is a Green Premier Residential & Green Commercial Inspection Company. We offer our services for the concerned & well informed smart home buyer or sellers. We provide comprehensive, professional, and thorough inspections. We have 2 offices for your convenience; one in the Sacramento Valley and one in the SF Bay Area.

The purchase of a new home is the single most important investment you will ever make in your lifetime. The misfortune of discovering a defect after becoming the owner could be very frustrating and costly. We have the practical and professional experience that assures an accurate and honest evaluation of your prospective home or the home you will be selling. Through the scrutiny of a professional home inspection, we will evaluate the various systems and components of the house, while objectively sharing our information and experience with you during the process. The inspection will report on all accessible structural, mechanical an electrical systems that comprise the building and grounds including:

STRUCTURAL SOUNDNESS

VISIBLE ASPECTS OF INTERIOR

ELECTRICAL SYSTEM

EXTERIOR OF HOME

HEATING & COOLING SYSTEM

ROOFING, GUTTERS & FLASHING

PLUMBING SYSTEMS

GROUNDS & OUTBUILDINGS

WASTE DISCHARGE SYSTEM

IN-DEMAND PROPERTY INSPECTIONS CONTACT INFO.

DIRECT(415)760-6040 SEVAN TELLEZ

DIRECT(916)870-4588 ALFREDO TELLEZ III

DIRECT(916)662-1924 ALFREDO TELLEZ JR. HABLA ESPANOL

INDEMANDPROPERTY@GMAIL.COM

A BETTER GREEN HOME INSPECTION COMPANY 

For the week of
December 1, 2008

 
Did You Know?… The latest consumer survey of home buyers and sellers shows first-time buyers have risen in market share and plan to own their homes longer than buyers in the past. According to the 2008 Profile of Home Buyers and Sellers, the number of first-time buyers rose to 41 percent from 39 percent of transactions in last year’s survey and 36 percent in 2006.
 
Lawrence Yun, NAR chief economist, said a higher share of first-time buyers makes perfect sense, and it’s a trend he expects to grow. “First-time buyers are much more flexible in entering the market because they aren’t concerned about selling an existing home,” he said. “Given low home prices, plentiful supply and affordable interest rates, it’s been an optimal time for entry-level buyers with a long-term view.
 
The number of first-time buyers rose to 41 percent from 39 percent of transactions in last year’s survey and 36 percent in 2006. “Although modest, this is a meaningful gain for the 12-month period ending at the close of June, and more recent independent data show a stronger uptrend in first-time buyers who are helping to reduce excess inventory,” Yun said.*
 
According to the NAR study, the median age of first-time buyers was 30, down from 31 in 2007, and the median income was $60,600. The typical first-time buyer purchased a home costing $165,000 and plans to stay in that home for 10 years, up from seven years in 2007.
 
The median downpayment by first-time buyers was 4 percent, up from 2 percent in 2007; the number purchasing with no money down fell from 45 percent in 2007 to 34 percent in the current survey. “The study covers transactions through the middle of 2008, so we can assume the downpayment numbers have shifted recently because credit tightened and no-downpayment loans all but disappeared around the close of the survey,” Yun explained.
 
Of first-time buyers who made a downpayment, 69 percent used savings and 26 percent received a gift from a friend or relative, typically from their parents. Another 7 percent received a loan from a relative or friend, while 16 percent tapped into a 401(k) fund, stocks or bonds. Ninety-two percent chose a fixed-rate mortgage.
 
The Real Estate Report Mortgage Rate Outlook

 

The overall cost of mortgage money, as gauged by HSH’s Fixed-Rate Mortgage Indicator (FRMI), spiked 34 basis points (.34%) higher, making it the third consecutive week of at least a 30- basis-point movement in rates. However, the swings from week to week are becoming somewhat smaller; they’ve moved 40 basis points up, then 37 down, and now 34 up again. Five-one Hybrid ARMs jumped 11 BP, leaving the most popular alternative to the traditional 30-year fixed rate at 6.80%.

 

The price of a conforming 30-year fixed-rate mortgage nudged 33 basis points higher, while privatemarket 30-year Jumbo fixed rates finished the week at 7.90%. There’s plenty of negativity to go around these days, and October will finish as one of the most difficult months ever for financial markets.

 

That said, the sheer volume of new programs put in place by regulators, as well as the attempts to re-liquify the financial markets by the Treasury and Federal Reserve, means that we may just be enduring the worst period at the moment, with better things to come. If nothing else, the passing of the election cycle, with its unending repetitions of negative messages, should produce a level of quiet not enjoyed for many, many months.

 

That’s not to say there’s all that much to cheer about, given all the troubles which face the economy. Still, there are encouraging signs here and there which get pushed out of the headlines, downplayed, or outright ignored. Take home sales, for example: last week, Existing Home Sales popped much higher than expected, only to have detractors claim that they would have fallen if not for discounted prices for foreclosures. That’s equivalent of saying "That store would have closed except for that big half-off sale!" The point here is that even good news — in this case, that home sales are rising — is too often treated with scorn.

 

Such was the case this week for sales of New Homes. The unexpected lift in sales to an annualized 464,000 in September was, in part, explained away by the 9% yearover-

year decline in the cost of a new house. We prefer to focus on the fact that despite challenging financing conditions and a troubled economy, homes are being sold. Better yet, inventory levels are now well below the present rate of sale, and this in turn suggests that at least some life in the building trades may be coming before long.

 

The Real Estate Report

 

With credit tight and standards even tighter, finding the money to buy a home in today’s market can be a challenge. In today’s market, the best place to find a mortgage might just be your local credit union. Credit unions never got involved with sub-prime mortgages, and are, therefore, very solvent and have the money to loan.

 

Of course, their lending is more along the lines of Jimmy Stewart’s “it’s a Wonderful Life”, which means youDll have to document everything. The interesting thing about credit unions is they are non-profit. That means loans are not only competitive with banks that sell their loans on Wall Street, but are usually lower than bank mortgages.

 

Credit unions use their own money to lend and then keep the loans in house and return the “profit”, the interest payments, to their members. Credit unions serve their members who pool their money together with the expectation they’ll get a return on their investment.

 

According to the National Credit Union Administration, credit unions, through September, saw an increase of 15.1% in the number of ix-rate mortgages outstanding comparedto the same period in 2007. Adjustable rate mortgages were up 11.8%.

 

Membership Eligibility. By current federal statute, credit unions cannot serve the general public. People qualify for a credit union membership through their employer, organizational

qaffiliations like churches or social groups, or a communitychartered credit union. To find a credit union, go here: http://www.findacreditunion.com/

 

Another place to find a mortgage is a local bank. As with credit unions, local banks will look long and hard at your application. You will need to have a down payment. Local banks are not going to give a loan to someone who can’t afford it.

 

To find a credit union, go here: http://www.findacreditunion.com/ Another place to find a mortgage is a local bank. As with credit unions, local banks will look long and hard at your application. You will need to have a down payment. Local banks are not going to give a loan to someone who can’t afford it.

 

Even if you’re not in the market for a home right now, it will pay off in the future to gain membership in a credit union and/or open a bank account at a small local bank.