Real Estate Information

I've received quite a few emails lately regarding the Homebuyer Tax Credit that expires on April 30th of this year. People are wondering the exact details of the program and if they qualify for the credit.

I figured the best way to answer these questions was to post a flyer explaining the basic details of the program. Remember, this program applies to first-time homebuyers, as well as, move-up buyers.

As always, please consult with your tax professional to confirm eligibility.
Click on the link below for a copy of the flyer.

Homebuyer Tax Credit Information Flyer

Brought to you by Randy Charlton of Century 21 Home Realty.

Current Mortgage Rates As Of Today: 30 Year Fixed Rate Is 4.84%.

Brought to you by Randy Charlton of Century 21 Home Realtors.

The real estate market is always changing and the current market update is a great tool to see what is happening in your exact area or in areas you are interested in.  I have included a link for the market update for December 2009 as compared to December 2008. 

As usual, the market can vary according to city, and zip code, so call me for up to the minute information. 

To view the update click the link below.

The San Bernardino County Market Update for December 2009.

Brought to you by Randy Charlton of Century 21 Home Realtors.

I have received many questions about the current housing market and whether or not the home prices will decline further, level off, or increase.  I came across this current article titled "Double Dip In Home Prices Threatens One In Five Markets" about the home prices nationally. 

Click Here To Read The Article.

The market is different for different areas, so contact me for up to the minute information for your exact area.

Brought to you by Randy Charlton of Century 21 Home Realtors.

Most people want to enjoy their pools, not spend time maintaining them. And with today’s busy schedules, it’s easier than ever to make mistakes, like running pool equipment too long or letting the water go green - and not in the ecofriendly sense.

But automating pool functions can save up to 75% of a pool’s annual energy costs, while also reducing chemical use and maintenance time. Pool owners can customize pool functions to their schedule. For example, someone may set their pool’s filter pump to run longer or more often on weekends, when the pool experiences heavier use.

The pool experts at Hayward offer the following tips for Americans looking to enjoy their pools with minimum effort and maximum savings.

Replace your pool’s filter pump. A pool pump may be your home’s second or third largest energy consumer after air conditioning units. But a multispeed, energy-efficient pump can save up to 75% on your pool operating costs.

Owners can further reduce energy consumption by setting each action’s time, speed and duration, or setting the pump to work during off-hours.  Use a robotic cleaner.A robotic cleaner can quickly pay for itself, saving up to 94% of the energy used by a pressure cleaner and booster pump.

Are you still flipping switches? Save energy by managing your pool and spa functions with automation. Program and control functions such as your multispeed filter pump, booster pump, pool/spa lights, heater or pool cleaner.

Brought to you by Randy Charlton of Century 21 Home Realtors.

Consumers making substantial home renovations can receive a tidy tax credit from Uncle Sam if they shop and buy carefully. The American Recovery and Reinvestment Act of 2009 allows home owners to receive tax credits when they improve the energy-efficiency of their home.

Tax credits are different from tax deductions.  A tax credit is figured after you determine your tax bracket and how much you should owe in taxes.  A tax deduction reduces how much you owe in taxes by decreasing your taxable income.  The amount of a tax credit is the same for everyone, while tax deductions are not.

To receive the tax credits, homeowners should make sure their improvements adhere to the IRS guidelines:

 - Must be “placed in service” from Jan. 1, 2009 through Dec. 31, 2010.
 
 - Must be for taxpayer’s principal residence, except for geothermal heat pumps, solar water heaters, solar panels, and small wind energy systems (where second homes and rentals qualify).  $1,500 is the maximum total amount that can be claimed for all products placed in service in 2009 and 2010 for most home improvements, except for geothermal heat pumps, solar water heaters, solar panels, fuel cells, and small wind energy systems, which are not subject to this cap, and are in effect through 2016.

 - Must have a “Manufacturer Certification Statement” to qualify.  For record keeping, save your receipts and the Manufacturer Certification Statement.  Improvements made in 2009 will be claimed on your 2009 taxes (filed by April 15, 2010) - use IRS Tax Form 5695 (2009 version) - it will be available late 2009 or early 2010.

Brought to you by Randy Charlton of Century 21 Home Realtors.

INSPIRATION FOR TODAY:
"Two roads diverged in a wood, and I -
I took the one less traveled by,
and that has made all the difference."
~ Robert Frost

FORGET THE LEADER!

On the playground of any school, and on any day, you can witness examples of children playing "follow the leader." One hops, skips, or jumps, and all the others follow. As adults, however, many of those children play a variation of that game - called "follow the follower."

On the job, they look around, see how someone else is doing their work, and duplicate the effort. What they don't realize is that their fellow employee is also watching someone else. A circular game of "follow the follower" evolves, resulting in a mediocre work force. The same can be true in marriages, education, hobbies, and sports.

Consider the story of a telephone operator in a small town. Every day she received a call from a gentleman asking for the correct time. Finally, one day, she asked the mystery caller who he was and why he called every day. His answer? "I'm the one who blows the whistle at the factory each day at noon. I like to be right on time!" The operator laughed and then responded, "Here at the telephone company, we set our watches and clocks by the noon whistle at the factory!"

Tired of playing follow the follower? Want to rejuvenate your life? Begin acting like the unique person you already are. See what everyone else is doing . . . and do something different. Strike out in the direction of your own imagination instead of theirs.

In the words of Henry David Thoreau, "Go confidently in the direction of your dreams. Live the life you've imagined."

Brought to you by Randy Charlton of Century 21 Home Realtors.

"A man's reputation is the opinion people have of him;
his character is what he really is."
- Jack Miner, conservationist (1865-1944)

How's Your Credit?

Ever hear someone say, "I have good credit"? They are probably referring to their credit "rating" - a score bestowed upon them by creditors, banks or rating agencies. Simply stating, "I have good credit" changes nothing, nor does the statement merit the attention of creditors. Credit can only be given by others for service to them, i.e. paying them on time.

So, credit is the result of serving others - in many ways. You cannot claim education, victory, experience, success, reputation, or a suave demeanor. Each of these is a gift from others, as a result of your service to them. Friends recognize your courage as a result of your being cool under pressure. Your success is recognized by others only once you have served them well. Knowledge of your career field is recognized by others only after it's been applied to situations in the form of more service.

In the accounting world of income and expense, a debit is something paid out, while a credit is something received. Thus all credits are received from others - not by our own making. The debits - what we pay out - are our efforts, persistence, and service. How they are rated is not under our control, but is determined by those served.

Without service, there are few rewards. Yet, you've seen those who insist on getting more attention than they deserve. They feel they're being short-changed, that they are not appreciated, that they are always the victim. If you look more closely at their contributions, you are also likely to see the dearth of service they are offering.

With service, credit follows. It may be subtle or quite visible - but it always follows. Concentrate on what you have to offer and forget the rewards. Those who are served will pick up the tab.

Brought to you by Randy Charlton of Century 21 Home Realtors.

As expected, the National Association of Realtors (NAR) reported a decline in existing home sales at the end of 2009, as first time buyers rushed to beat the tax credit deadline and close their transactions by November 30. Although Existing home sales fell by 16.7 percent in December, sales remained brisk enough to break the 5 million unit mark, bringing total the number of existing homes sales up to 5,156,000 for all of 2009. The 2009 sales figures were almost 5 percent higher than the year before, creating first year-over-year sales gain since 2005.

Chief NAR economist Lawrence Yun remains cautiously optimistic about the national housing market. "It’s significant that home sales remain above year-ago levels, but the market is going through a period of swings driven by the tax credit," he said. 'We’ll likely have another surge in the spring as home buyers take advantage of the extended and expanded tax credit. By early summer the overall market should benefit from more balanced inventory, and sales are on track to rise again in 2010. However, the job market remains a concern and could dampen the housing recovery – job creation is key to a continued recovery in the second half of the year."

Brought to you by Randy Charlton of Century 21 Home Realtors.

Washington, February 02, 2010 - Pending home sales have leveled from a market swing driven by response to the home buyer tax credit, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in December, increased 1.0 percent to 96.6 from 95.6 in November, and remains 10.9 percent above December 2008 when it was 87.1. In November, the monthly index had fallen by 16.4 percent from surging activity in preceding months.

Lawrence Yun, NAR chief economist, said it’s important to recognize how the tax credit is skewing market data. “There are easily understood swings in contract activity as buyers respond to a tax credit that was expiring and was then extended and expanded,” he said. “These swings are masking the underlying trend, which is a broad improvement over year-ago levels. December activity was the fifth highest monthly tally in two years.”

Buyers who have a contract in place to purchase a primary residence by April 30, 2010, have until June 30, 2010, to finalize the transaction to qualify for a tax credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.

The PHSI in the Northeast rose 2.3 percent to 76.1 in December and is 14.9 percent higher than December 2008. In the Midwest the index increased 5.2 percent to 86.9 and is 8.7 percent above a year ago. Pending home sales in the South rose 2.2 percent to an index of 98.4, and are 5.5 percent higher than December 2008. In the West the index fell 3.8 percent to 119.9 but is 18.6 percent above a year ago.

Yun projects the extended and expanded tax credit will encourage 2.4 million households to take the credit in 2010. “While new-home sales will remain low due to a lack of construction, existing-home sales are projected to rise to around 5.6 million in 2010,” Yun said. Last year there were 5.16 million existing-home sales.

He added that one of the greatest benefits of rising sales will be firming home prices. “For several months now we’ve been seeing stabilization in all of the home price measures as inventory is pulled down,” Yun said. “As a result, the housing wealth for many middle class families has begun to stabilize.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

Source: National Association of REALTORS®

Brought To You By Randy Charlton with Century 21 Home Realtors