Realty World Tri-Shasta

Here is this weeks real estate joke for everyone enjoying the wet Shasta County weather and are stuck indoors.

Lousy Real Estate

A doctor vacationing on the Riviera met an old lawyer friend and asked him what he was doing there.

The lawyer replied, “Remember that lousy real estate I bought? Well, it caught fire, so here I am with the fire insurance proceeds. What are you doing here?”

The doctor replied, “Remember that lousy real estate I had in Mississippi? Well, the river overflowed, and here I am with the flood insurance proceeds.”

The lawyer looked puzzled. “Gee,” he asked, “how did you start the flood?”

Following is an article posted by Susanne in the Home Buying 101, Real Estate, Today’s Market Place. This will be one of my longer posts, but for all of you  buyers here in Shasta County, looking to purchase a piece of real estate, this is some important information regarding the first-time home buyers credit that is available to you.

On November 6, 2009 President Obama signed into law an expansion and extension of the home buyer tax credit.

The credit is available for homes purchased on or after November 7, 2009 and before May 1, 2010. The federal income credit can be claimed on one’s individual or joint tax return for the purchase of any singly-family home (newly constructed or resale, single-family detached, town homes or condominiums) between the dates of November 7, 2009 and April 30, 2010. Home purchases subject to a binding sales contract signed before May 1, 2010 will also qualify for the tax credit as long as closing occurs by June 30, 2010.

The tax credit is now available for first-time home buyers and eligible current homeowners. A first-time home buyer is defined as an individual who has not owned a principal residence during the three-year period prior to the purchase. This law applies for both parties in a married couple; if you haven’t owned a home for three years, but your husband has, then neither one of you can qualify for the tax credit. A qualified current homeowner who wishes to move to a different home (a “move-up” buyer), must have owned and resided in their residence for five consecutive years out of the last eight.

Under the legislation, the income limits to qualify are the same for both first-time home buyers and current homeowners: Single taxpayers with income up to $125,000 and married couples with a joint income up to $225,000 qualify for the full tax credit. These income limits make almost all first-time home buyers eligible and approximately 70% of current homeowners eligible. Single taxpayers who earn between $125,000 and $145,000, and married couples who earn between $225,000 and $245,000 are eligible to receive partial credit.

The maximum credit amount for first-time home buyers is $8,000; the maximum credit amount for current homeowners is $6,500. The federal tax credit amounts to 10% of the cost of the home, up to a maximum credit of $8,000 for first-time home buyers and $6,500 for current homeowners. Under the new legislation, a tax credit may only be issued for homes purchased for $800,000 or less.

Provided the home-owner stays in the home for three or more years, the tax credit is a true credit and does not need to be repaid. The tax credit is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if you own no tax or the credit is more than the tax owned. The credit is claimed using Form 5405, which you file with your original or amended tax return. Buyers can claim the credit on their 2009 taxes, even if the home is purchased in 2010, by filing amended tax return.

The current tax credit legislation has built-in fraud measures, therefore, anyone claiming the credit must provide documentation to prove that the sale has closed, such as a copy of their HUD-1 Settlement Statement. The law also prevents anyone younger than 18 from claiming the credit.

There are various improvements going on in Shasta County, regardless of what city or town you are in. It is well known that the City of Anderson is working really hard in updating and improving the city. This article may not be entirely real estate related, but these improvements will help every homeowner here in Anderson.

Redding Firm Wins Bid to Complete North St. Work

This article was written by George L. Winship and can be found in this weeks North Valley Post on page A-5. The following is just a brief summary of what the article entails.

Anderson residents will soon see another round of construction along North Street as Phase II of the widening project tackles the incomplete west side of the road. The plan is to widen the roadway by one traffic lane, install curbs, gutters, storm drains and sidewalks along the roadway’s western perimeter and complete the construction project that will link North Street from Sharon Avenue to Riverside Drive, just south of the recently replaced North Street Bridge.

There are definitely a lot of homes on the market right now here in Shasta County and the one question that is most likely keeps running through your head is how to make your home more appealing then all the rest in the same price range? The answer to that is simple presentation. Not only is it important to keep the house clean and free of visible damage for an appointments that potential buyers may schedule to view your home, it is also important to have an open house free of the same problems but with a little more effort.

If you read the paper you will notice that there is a section that advertises the times and dates an open house is going to be held, you will also notice that a majority of these open houses are held on the weekend during the afternoon. Why not schedule your open house and a completely different day? For example, old your open house on a Tuesday during the lunch hour or in the evening time when people are off of work.

Another tip is signage. Make your signs visible but also make them appealing to the eye. You will want something that is going to draw in any potential buyers.

When it comes to the home it is important to make sure every room within the home (even the garage and the yards) are clean. In the kitchen or dining room have drinks and snack readily available, this will cause the potential buyer to want to stay longer and talk about your home. If you have pets see if a friend or family member would be willing to watch them during your open house. And, get the family out of the house! You want a one-on-one basis with any person who walks through your door, and it is easier when you are the only person dealing with them.

So good luck on your next open house, I hope it goes great for you!

Prices are down here in Shasta County and so are interest rates, if you are looking to buy a home this is the time to do it. There are some great homes out there that are available at a good price, and they are not lasting very long on the market. On a majority of the homes listed for under $200,000 it at times has been a bidding war, and we have seen properties go for mare than what they are listed for.

First time home buyers, now is the time to move. Go out and get you pre-qualification or pre-approval done with the lender of your choice. If you go and do that first you will be able to figure out how much money you may have to bring into the transaction and be able to figure out how much home you are going to be able to afford.

Also figure out what area you want to live in and start to look there, if you don’t find what you are looking for expand the area you want to look. And the most important thing is to just go out there and view homes, even attend Open Houses if necessary, to get the feel of what you are looking for. That way when you come across that “certain” home there will be no question as to whether or not this home is made for you.

The best way to decide what you are looking for in your first home is to write it down on a list. Sit down and discuss with your partner esactly what you guys are looking for, what is important, what is not important, and what would be a nice feature but you don’t have to have. When you then view homes keep that list in mind, or refer to it with each home.

Now, if it comes down to more that one home compare those homes to each other and that little list you carry around in your pocket. Compare and contrast, even work out a special numbering system. If worse comes to worse go back and view those homes again. Your agent should be more than willing to take you back to those homes as many times as necessary to help you make your decision.

So good luck and good hunting.

I hope everyone had a great Christmas. I know I did, it may have been busy but it was enjoyable. I also hope every one got what they had asked for. But, now it is time to focus on the fact the the year 2009 it about to come to an end and we are about to begin another wonderful year, the year of 2010.

With the coming of a new year many people tend to set “New Year Resolutions” for themselves – the one recommendation I have for that is to make it a goal you can see your self achieving. Goals can be personal or professional. Personal goals could be to buy a new house, buy a new car, lose weight, etc. Professional goals could be to get a new job or get another pay raise. Whatever it may be make sure it is a goal you know you can achieve.

My goals tend to focus along the lines of real estate, probably because I happen to be in the real estate profession. Last year I had set a goal to sell at least one house here in Shasta County- which I achieved. For the year 2010 I am going to raise the bar for me to sell at least two houses this coming year.

That takes care of my professional goal, now for my personal goal. I will actually be setting a couple for my self her. For starters I would like to be able to improve my husbands credit, then after doing that I would like to have my husband and I buy our first house.

My New Year Resolutions are now set, now I am interested to hear what yours may be – so go ahead a tell me, comment on this blog on the goals who have set your self for the year 2010.

Many people don’t realize how important it is to have that pre-approval letter in hand before viewing houses (unless, of course, it is a cash transaction). Getting pre-approved with a lender of your choice will help you set certain guidelines when it comes time to home shopping. There are plenty of lenders to work with here in Shasta County, go out there and find one you are comfortable with and go with them. Your real estate agent will be able to find you homes within your price range – that way you don’t have to worry about falling in love with a home and then finding out later on that you can’t afford it.

Another reason why it is so important to be pre-approved with a lender is because of the number of short sale and foreclosed properties on the market. When putting an offer in on a property that is in a short sale situation or is owned by a bank they usually require a copy of your pre-approval letter included with you offer – or they simply will not look at it.

The lenders try to make the pre-approval process as painless as they can. Also, after they have all of the necessary information you can give them your real estate agents information, that way both your lender and agent will be able to communicate directly to make your home buying experience less stressful and smoother for you.

You can definitely tell that the Holidays are here, there is a festiveness in the air. Driving around you can see the Christmas decorations upon the houses, some very simple while others are extravagant. Going through the stores, you can see parents buying gifts for their little ones…thinking of the little ones, wouldn’t we want Santa to come down the chimney safe and sound? Many homes in Shasta County still have fireplaces or wood stoves that have a chimney for the smoke to travel through to get outside, instead of collecting in the house. Earlier today I came upon this article that would help all you individuals who do have chimneys and would like to aid Santa in delivering all his toys to those good girls and boys this Christmas. Follow the link to the article  Make Sure Your Chimney is Santa Safe this Christmas.

For all of you first time home buyers here in Shasta County, buying a home can be very stressful. Here is an article I felt would be helpful to you. This article is even good for people who have already bought a home before, but still find buying a new home a stressful situation…http://homebuying.about.com/b/2009/11/16/you-dont-have-to-suffer-from-home-buying-stress.htm

1. Have your refrigerator and other appliances serviced before the trip.
2. Write the utility company in the city to which you are moving. Ask them about the necessary fees or deposits required for installation of service.
3. Remit the utility deposits required with information as to when and where you will want the following services: gas, electric, water and telephone.
4. Send your forwarding address to your local post office and send change of address cards to magazines, banks, insurance companies, book clubs, friends, and stores.
5. Transfer your fire insurance on household goods or other insurance on personal possessions so that they will be covered while en route and at your new home.
6. Notify the principal of your children’s school about your intended move. Get a letter from him/her covering the status of your children in school.
7. Make sure you have birth certificates of all the children. (You will need them for their new schools.)
8. Get medical records of shots, prescriptions, etc. for all family members and pets.
9. If car or other possessions are not paid for, get permission to move them.
10. Close your bank account(s), if necessary.
11. Arrange for sufficient cash or travelers checks to cover the cost of moving services and expenses until you make banking connections in the city to which you are moving. Cash or a certified check is generally required by moving companies is generally required by moving companies for delivery of household goods.
12. If you are moving to another state verify that you, or your moving company’s driver, have all necessary paperwork prepared to transport your belongings into your new state.

Have The Following Services Discontinued:

1. Rubbish and garbage service (in Shasta County it is Waste Management)
2. Mail delivery
3. Gas and electricity (it is dependent upon where you live in Shasta County)
4. Fuel or oil company
5. Pool or spa service
6. Diaper Service
7. Telephone (in Shasta County it is AT&T)
8. Locker at athletic club
9. Water softener service
10. Water (depends where you live in Shasta County)
11. Newspaper delivery (in Shasta County it is the Record Searchlight)
12. Charge accounts
13. Cable television service (in Shasta County it is Charter Communications unless you have a dish)
14. Lawn service

At Your New Address:

1. Check on service of telephone, gas, electricity, water, fuel for furnace.
2. Have the stove serviced – check pilot light.
3. Check pilot lights on water heater and furnace.
4. Have refrigerator, automatic washer/dryer, television set checked.
5. Ask mail carrier for mail that they may be holding for your arrival.
6. Have new address recorded on new driver’s license.
7. Visit city offices and register to vote.
8. Register car after arrival in state or a penalty may have to be paid when getting new license plates.
9. Register children in school.