Furniture Fantasy Sale Sat., October 2, 2010

Furniture Fantasy Sale Sat., October 2, 2010 

Have you ever walked through a Model Home and wished you could get a good deal on the furnishings in the home?  BIA can help.  The Building Industry Association of San Diego County has it's 3rd annual fundraiser in a 20,000 SqFt warehouse full of great furnishings from Model Homes.

Well now you can. 
As much as 90% off retail.

You must be there early since people start lining up at 4AM. It is open at 8AM and mostly gone by mid morning.

OPEN TO THE PUBLIC
October 2, 2010
8:00am till SOLD OUT
Note: they made over $60K for charity last year - 2009.  Watch for it again in 2011.

FEATURING:

HIGH-END MODEL HOME FURNISHINGS

OFFICE FURNITURE, APPLIANCES

ACCESSORIES

CONSTRUCTION/REMODEL SUPPLIES

All sales are final and items must be removed that day!!!
Cash and Credit Card (MC, Visa, Amex& Discover) accepted

Don't miss the Furniture Fantasy Sale.
Visit: http://www.biacares.org/  for more information.
http://www.biasandiego.org/pdfs/Sales_Flyer.pdf

SALE LOCATION: Liberty Station
2816 Historic Decatur Road, Suite 140
San Diego, CA 92106
Enter @ Lytton St.
Follow the Signs!!!

Furniture Fantasy Sale Sat., October 2, 2010

____________________________________________

ANOTHER GREAT DEAL!
Go to the Habitat for Humanity ReStore for more bargains.
http://www.sdhfh.org/
10222 San Diego Mission Rd
San Diego, CA 92108
(619) 516-5267
 
Up to 70% OFF every Item: cabinets, doors, appliances, granite countertops, windows, lighting, plumbing, flooring, antiques, architectural items and more.

Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Expert
RE/MAX By-the-Sea
Formerly with Taylor Place Real Estate
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225

http://www.sandiegohomes4u.com/home.htm

Property Tax Reduction Deadline is Nov 30th

Property Tax Reduction Deadline is Nov 30th to reduce your taxes due to “Decline of Value”.

If you, or a friend or family member, bought a home in CA between
2003 and 2006, you can probably reduce your property taxes by 10% to 60%, depending on your area. (Location, Location, Location)

The County Tax Assessor must tax properties at the value of the property on January 1st of each year.
You can challenge that San Diego County assessment between July 1st & Nov. 30th. (Other counties may only go to Sept 15th)

The next appeal period is between March 1 and May 30
so you can appeal it again for Jan 2010 comparable sales.

Please be advised that the application will only be effective for the one year appealed. Subsequent years will normally require additional filings.

Here is the information you will need.
See http://www.boe.ca.gov/proptaxes/pdf/pub30.pdf

Here is the application:
http://www.sdcounty.ca.gov/cob/docs/aab/aabadobeapp.pdf

The Assessor will determine the price/value as of Jan 1st, 2009.
If you disagree, then you have to go to the appeals board with your proof.

There are many companies that will assist you with your Property Tax Reduction.
You do not need to use these companies because the data is free.
Sometimes it is more convenient to use a company to assist you. EasyTaxFix.com is one.
I have not checked them out but they only charge $49.99.
They also show you the comparables but not the addresses.
All you need to do is click on the following link.
http://tinyurl.com/PropertyTaxReduction

The clients who have bought or sold a property with me are welcome
to receive free comparable sales date from us.
Please call or e-mail your request.  This applies to SD county properties only.

If you are not a client, www.zilow.com has comparable data
but it is not as complete or as easy to understand.
Just type in your address and click on "Comparable Data" in the info box.
Your results will display below the map.
Please note that their "Zestimates" can be as much as 30% of in either direction.
Do not use that number, just use the comparable sales.
You may only use sales comparables from November 2008 through
March 2009 as they are only looking at the value as of 1/1/09.

Here is an article in the Newspaper with more info.
http://www.signonsandiego.com/uniontrib/20081108/news_lz1c08taxes.html

Remember, the Property Tax Reduction Deadline is Nov 30th




Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Expert
Taylor Place Real Estate

Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm

You can view all available San Diego area homes for sale at http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County

$8000 Homebuyer tax credit update

$8000 Homebuyer tax credit update…The tax credit has been extended!!!!

Under the law, individuals with income up to $125,000 a year and couples earning up to $225,000 may be eligible for the $8000 Homebuyer tax credit. The extension would cover homes under contract by April 30th and closed by June 30th, 2010. And as we had also predicted, the  homebuyer tax credit will be expanded to non-first time homebuyers as well. There are a few tweaks for non-first time homebuyers - the credit is reduced from $8000 to $6500, and they must have owned and lived in their primary residence for at least five of the past eight years. Their new purchase must be for their primary residence, not a second home or investment home.

This is a great deal for home owners who want to more up, downsize or get a job transfer.
The purchase price of the home is capped at $800,000 in both instances.

Under additional provisions included in the bill, taxpayers can claim the credit on purchases completed in 2010 on their 2009 income tax returns. The legislation maintains the provision that home buyers do not have to repay the credit provided the home remains their primary residence for 36 months after purchase, and waives this requirement for active duty military personnel who move due to a military order.

Military veterans earn one-year federal tax credit extension


Military personnel, members of the Foreign Service, and employees of the intelligence community
have an extra year, through June 2011, to buy their principal residence in the U.S. and claim the federal tax credit. The deadline for a binding contract is April 30, 2011; the deadline to close the purchase is June 30, 2011. The extension applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at period of least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010.
 
The bill also adds some fraud protection.  Buyers will now have to include proof of purchace with their tax return.

For more details:
http://www.irs.gov/newsroom/article/0,,id=204671,00.html

http://www.federalhousingtaxcredit.com/glance.php

How does all this work in my case?  Ask your tax professional/

Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Expert
Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm

You can view all available San Diego area homes for sale at http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County.

Senate plans to extend an $8,000 tax credit for first-time homebuyers

Senate plans to extend an $8,000 tax credit for first-time homebuyers and allow benefits for some people who already own residences.

The proposal would also let existing homeowners qualify for a $6,500 credit if they have lived in their residence for five years.

The homebuyers’ credit would be available to individuals earning up to $125,000, or $250,000 for couples, up from $75,000 for individuals and $150,000 for couples under the current law.

The plan would extend the $8,000 tax credit for first-time homebuyers, due to expire Nov. 30, to home purchases under contract by April 30, 2010, with borrowers allowed another 60 days to close the sale.

It is not a done deal yet because it is tied to bill to extend unemployment benefits along with several other "pork" amendments. Fortunately, there seems to be little resistance to the home buyers credit. We will have to see exactly comes out of the bill.



Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Expert
Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm

You can view all available San Diego area homes for sale at http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the North Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County.

Rates - APR - Points - Fees: How the Playing Field is Still "Crooked"

Rates - APR - Points - Fees: How the Playing Field is Still "Crooked"

This is a re-blog with permission from Steve Kappre, a Mortgage Planner with Treasury Mortgage


I talked to a client today who was shopping me against some other lenders. I don't blame people, and frankly if I think someone else has a better offer and they are legit, I advise "my client" so and have no hard feelings.

In the scenario today, said client was offered 4.5% with no points. I told him it wasn't possible, but lest I be ignorant, I dropped by this other lender's website. Indeed, the lenders website quoted 4.5% with no points and an APR of 4.878%. The website gave the assumed loan amount and purchase price. So I went and did the math. What did I find out? To make the rate and APR accurate, I had to add 2.25% in points ON TOP OF all of the regular fees (title, appraisal, etc.).

In other words, even though the quote was 4.5% with zero points, the TRUE cost was 4.5%, plus typical closing costs, PLUS 2.25% in additional fees/costs.
Please send me your Goofy Good Fake Faith Estimate!

There are several issues with this scenario

APR is supposed to HELP consumers, not confuse them. Clearly this bank (a large bank at that) is charging hefty fees instead of points. This brings us to our next point ...

Points are tax deductible costs - most other fees are not. Charging high fees in lieu of points is an injustice to the consumer. We see rates quoted with NO POINTS to make them look better to consumers. However the total cost is ultimately higher than a lender that is straight forward, charging the same dollar amount but in the form of points. A loan with the same cost in points (versus fees) is a far better deal, saving a consumer hundreds or thousands in tax deductible costs.

APR is "pliable" - Certain fees are calculated into the APR calculation, others are not. Do not assume lenders don't play with the "names" of fees to artificially lower their APR's. That doesn't seem to be the case in the above example, nonetheless keep this in mind.

Lastly, said bank WOULD NOT give the buyer a good faith estimate without having him apply for a mortgage. OK, not so crazy, but the good faith estimate would not be given for 3 days. And if the bank charged an application fee? That would just be another deceptive way to lure a consumer in and tie them to the bank.

Any lender should be able to offer you a good faith estimate (GFE) in a fairly short amount of time, 24 hours or less, allowing some time for when a lender is very busy. Assuming the lender is honest and accurate with their fees, you should be able to see the true cost of their offered rate. You should be able to see, as in the above scenario, that their rate of 4.5% with no points really has a lender fee of $4,119 (Actual additional cost based on their APR). This same week I had another rate shopper send me a goof good faith estimate with 1% in points and $2,100 in application fees. THIS IS NOT NORMAL or fair to you as a consumer, especially on a purchase loan.
I am not angry for losing business, because I didn't lose business. I am however angry because of the lenders and loan officers that mislead and deceive consumers who are just looking out for themselves by rate shopping. What we often see, is that many consumers that search the world over for the lowest rate, actually end up paying much higher costs via deceptive lenders. Consumers can be blinded by a low rate, not allowing them to see the true cost.

Steve Kappre is a Mortgage Planner with Treasury Mortgage. Steve specializes in
• All areas concerning NJ First-Time Home Buyer Mortgages, grants, down payment assistance, tax credits, and more.
• Reverse Mortgages
• Equity Management strategies for high-end homes and high net worth individuals
Contact Steve Kappre directly at 856-419-3561 or at http://www.stevekappre.com/

End of his Blog at http://activerain.com/blogsview/1266423/rates-apr-points-fees-gfe-s-how-the-playing-field-is-still-crooked-

_________________________________

My comments:  I agree with Steve completely!

This deceit is not just with online lenders although they have a higher percentage of problems. You can even see it at your local bank. A point dressed up as a fee still costs you money and most fees are not deductible.

This is why I use 2 local lenders who I know and trust to get the loan done right and charge REASONABLE fees.  Everybody deserves to make a fair living but not by deceit.

I have worked with both of these local lenders for over 8 years each.  They have both done an outstanding job with my clients which is why I continue recommending them.  Please call me for their contact info.  760-436-0087

Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Expert
Taylor Place Real Estate
http://www.sandiegohomes4u.com/
dennis@SanDiegoHomes4u.com

Too late for $8000? First Time Home Buyers Scramble!

First Time Home Buyers
may be too late for $8000 
The Government Real Estate Stimulus Package, first time home buyers tax credit of $8000 is scheduled to be gone on Dec 1st, 2009. A first time home buyer is someone who has not owned a home in the last 3 years. See the details:
http://www.irs.gov/newsroom/article/0,,id=204671,00.html

Will the government extend this program? Do you want to take this risk when many are saying we are past the worst in the Real Estate market?

December 1st seems like a long way away, and it is, except in home buying terms.

With the changes in lending and appraisal, getting an escrow completed in 30 days can be very difficult. Many are taking 45 days to fund and close. That means we should be in escrow by October 15th. Preferably earlier if we find any inspection or appraisal problems and have to find another home to buy.

Here are the 7 things you have to do to make this happen for you.

1 Loan Approval – The first step and one of the most important. If your offer is to be accepted above the others, you must present the best likelihood to close. You will have to have a strong approval letter from a lender and documentation to back it up like proof of liquid funds and a copy of your credit report.

2 Watch the clock. You have about 5 weeks from Sept., 8th 2009 to get your offer accepted and you may have to write 5 to 10 or more offers just to get one accepted.

3 Be aware of the competition. Finding a home can be a challenge in this marketplace. The homes that you are looking for are the same as most other first time buyers are looking for. Competition is very high and will be even higher as the deadline nears. We are seeing multiple offers on all reasonable priced homes and on many homes that are over priced. Five to ten offers is normal and I have been in competition with more than 30 offers on some homes.

4 Know the market. Be ready to look at the lists you receive and be ready to write an offer immediately. That means you need to know what you are willing to accept for your first home. We will need to meet, discuss your needs and wants then see how they match up to the properties and prices that are currently available.

5 Be flexible and be realistic. Remember, this is your first home, not your only one. Maybe you can remodel or add on later, or convert it to a rental sooner than you planned.

6 Keep your credit in top condition by not opening new accounts, not closing old ones and keeping ALL the balances below 40% of your credit limit on each account at all times. The lender usually pulls another credit report near the end of the transaction.

7 Avoid Short Sales that are not approved, unless they have been Pending or Contingent for at least a month and preferably much longer. Consider these only as a last resort. Banks have been known to change their minds or even foreclose while in escrow on a short sale.

Call me at 760-436-0087 if you are a first time home buyer and want to get the $8000 tax credit while it is still here.

Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Expert
Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225

http://www.sandiegohomes4u.com/home.htm

Money Saving Tip for Home Buyers at SDG&E

Money Saving Tip for Home Buyers at SDG&E

Buying a San Diego area home?  Save money buying a home whenever you can.

You could save money when you buy a home by timing the start of your gas and electric service within one week of the meter read. This works especially well if the home is vacant, like bank owned REO's.  If it is occupied, you may want to ask what the monthly useage is, then decide.
SDG&E charges $15.00 for new service for each meter, gas or electric. If you are within 7 days of the meter read date, they could charge you as little as $5.00 per meter. When you call to start service, ask SDG&E if the meter reading is close enough to get a discount. 
 
Dennis Smith, ABR, SRES, e-PRO, CDPE, Realtor® DRE# 00476662
Certified Distressed Property Expert
Taylor Place Real Estate
Buy or Sell a Home with Me, Use my Moving Truck - F R E E for life.
dennis@SanDiegoHomes4u.com
760-436-0087, or cell at 760-212-8225
http://www.sandiegohomes4u.com/home.htm

My Market Trends Report with graphs and charts for North Coastal San Diego will give you the Sales Statistics for the month and compare it with last year, by city!
http://www.sandiegohomes4u.com/RealEstateTrends.htm
 
You can view all available San Diego area homes for sale at http://www.sandiegohomes4u.com/MLS_Search.htm
You can search by address, by MLS number or by general criteria.

Providing quality Real Estate services in the N Coastal San Diego area including Del Mar, Solana Beach, Rancho Santa Fe, Cardiff by the Sea, Encinitas, Leucadia, Olivenhain, Carlsbad, La Costa, Aviara, Oceanside, Vista, San Marcos, San Elijo Hills, Escondido & San Diego County.