Buying a Home Requires a Plan...

The dream of owning a home has become a reality for a lot of people over the last few years.   Because of reduced prices, many  buyers have jumped into the status of being a homeowner before they have addressed all aspects of this big decision.  If that is you, it is not too late to get a plan started now.

 

When purchasing a home, it is  important to have a plan so that you and your family will be secure for many years to come.  I can't emphasize enough how important it is to work with professionals who are willing to listen to your dreams and goals and to help you establish a personal path to get you where you want to go.

 

Buyers often think that finding a home they like, in the price range they can qualify for and getting a good interest rate is pretty much all they need to do.  Of course, these things are important, however, making a plan that includes all financial aspects will help you make the choice that is best for you.

 

Putting a financial plan together can sound overwhelming at first, but it is as easy as assembling a team of professionals who are genuinely intererested in seeing you achieve your long term goals.  Your team should consist of a mortgage lender, an accountant, a Realtor, a financial advisor, an insurance agent, an estate planner and, in some states, a real estate attorney.

 

Planning for your future and buying a home is a big step for most people.  Just the  process of finding a home and getting the loan can be overwhelming.  This is why choosing the right people to have on your team is important.  A good professional in any one of these areas should be able to refer you to another business person whom they know and trust in the appropriate field.

 

To begin, find a Realtor or mortgage lender that realizes the importance of having a team  in place to create solid financial plan.   If they are truly interested in helping you to achieve your goals and not simply making the sale, they will have other business people in mind that they will refer you to with confidence to assist in creating a great plan to secure your future.

 

Nancy Puder is the broker and owner of Signature Properties, a prestigious real estate sales and management firm in Arroyo Grande, CA.  You may contact her at Nancy@NancyPuder.com or (805)710-2415 Your calls are always welcome!

 

 

 

 

6 Tax Facts Homeowners Should Know

This is the time to start thinking about how your 2012 is going to be presented to the IRS at tax time.  Here are 6 tax facts that all homeowners should know!

 

1.  If you have owned your home and lived in it 2 of the past 5 years prior to selling it, you can generally deduct up to $250,000 of the gain from your income ($500,000 if you are filing a joint return in most cases).

 

2. You are not eligible for this exclusion if you sold a principal residence within the past 2 years and excluded the allowable gain from your income.

 

3.  If you can exclude ALL of the gain from the sale of your principal residence, you do not have to report the sale on your income tax return.

 

4. If you have a sale on your principal residence that exceeds the allowable deduction, it is taxable.

 

5. You can't deduct a loss from the sale of your principal residence.

 

6. Special rules may apply when you sell a home which you received the "first time home buyer credit.  (See IRS publication 523, "Selling Your Home" for details)

 

Nancy Puder is the broker and owner of Signature Properties, a prestigious real estate sales and management firm in Arroyo Grande, CA.  You may contact her at Nancy@NancyPuder.com or (805)710-2415 Your calls are always welcome!

 

 

 

Animal Costumes...Really?

Please don't get me wrong.  I love animals and have two myself, that I love and spare no expense if they are sick or just need some extra love.  There is no way, though, that I would dress them up in a Halloween costume!

 

I guess it takes all kinds to make the world go round but I just don't get it.  I was at the pet store buying some pet supplies because I thought that is what I would probably find there.   Thinking at first that I had walked into the wrong store, I saw halloween costumes everywhere!  Had I just walked into Ross or Marshall's in some kind of stupor?

 

No, I really was at the pet store!  I thought I had heard some murmerings about an animal costume contest this past week, but truly hadn't paid much attention to it.  I now find that I have been out of the loop.  Apparently, this is the latest rage and I am running behind on what is cool these days...

 

Of course, I am sure the dogs and cats are much more comfortable and feel quite dignified in the respective costumes that their owners have somehow squeezed their little legs and paws into, but I am still not getting it.

 

I guess I'm just a left-over from the seventies, where wearing less was more if you know what I mean.   Perhaps I should consider having one of these cute little puppies hold my next open house for me, or have my client hold them in the back seat while I am showing property?  I could dress them up like Realtors?

No?  Okay, I'm still trying to figure out how to work this new wave into my own life.

 

I hope you all know that I'm just kidding.  I hope everyone has a lot of fun this week.  Please send me picture of your favorite pet dressed up or not!

 

Nancy Puder is the broker and owner of Signature Properties, a prestigious real estate sales and management firm in Arroyo Grande, CA.  You may contact her at Nancy@NancyPuder.com or (805)710-2415 Your calls are always welcome!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Housing Starts Blow Away Experts

 

Even the experts were surprised to find that more new residential units were started in September than any month since July  2008.

 

Single-family home construction starts were the largest of the increase,  showing that builders are feeling positive and more confident about the housing recovery.  This is good news because in spite of tight financing, builders are delving back in.

 

 Savvy buyers are scrambling to get into properties now as the housing market rebounds.  Low inventory is beginning to push prices up and sellers might want to consider putting their property on the market now instead of after the first of the year when everyone else has the same idea.

 

The National Association of Home Builders/Wells Fargo Housing Market Index showed that builder confidence in the market for new single-family homes rose for the sixth straight month to its highest level since mid-2006.

“It’s no longer a question of whether the industry is rebounding,” Larry Sorsby, chief financial officer of Red Bank, New Jersey-based Hovnanian Enterprises Inc. (HOV), the best-performing homebuilding stock this year, told Bloomberg News in a telephone interview. “There is clear evidence that we have bounced off the bottom and are in the midst of a recovery.”

 

Nancy Puder is the broker and owner of Signature Properties, a prestigious real estate sales and management firm in Arroyo Grande, CA.  You may contact her at Nancy@NancyPuder.com or (805)710-2415 Your calls are always welcome!

Housing Expectations On The Rise

 

For the eleventh month in a row, consumers have reported that they still feel that this is a good time to buy and more sellers are agreeing that it is also a  good time to sell.

 

As home prices go up,  potential homebuyers realize that if they don't buy soon they will probably pay  more for the same property next year.  Sellers who have been on the fence about selling, are gearing up to move forward as the housing market continues to gain ground.

 

There are still a lot of cash buyers running around and many of those buyers are making offers close to or at listed price.  This is in sharp contrast to the low-ball offer that was typical of an all-cash buyer previously.  Buyers using financing to purchase a home should be aware that well-priced properties are in great demand and they should come in strong with their first offer.

 

Sellers still deciding whether to sell or not, should use this time to inspect their own home for needed maintenance and also consider making improvements so that when the time comes to sell, the property is in good condition and shows well.   This is a win-win situation for property owners because even if they decide not to sell, the repairs or improvements will enhance the enjoyment of the property for years to come.

 

Lastly, buyers and sellers should beware of taking the TV home shows too seriously.  Although they provide some great insights and tools for consumers, we need to remember that it is often staged and produced for a dramatic effect and they are designed for entertainment.  These shows should not take the place of the advice from an experienced professional.

 

Nancy Puder is the broker and owner of Signature Properties, a prestigious real estate sales and property management firm in Arroyo Grande, CA.  You may contact her at Nancy@NancyPuder.com or (805)710-2415 Your calls are always welcome!

 

 

 

 

 

 

 

 

 

 

 

Need a Competitive Edge to Buy or Sell

To have a competitive edge in today's market you simply must take some necessary steps to avoid disappointment when you go to buy or sell.  Although the real estate market is improving,  it can still be tricky to accomplish what you set out to do.

 

For buyers, this means that you simply must have a pre-approval letter from a sound and reputable lender if you want the seller to seriously consider your offer.  In some price ranges,  if a property is priced well, it will generate several offers within 1-3 days.  Being first, does not always mean that the seller will work with you. 

 

Not having your financing in place before you look at property, keeps you completely out of the game.  Be prepared to pay close to asking price or even higher unless you have all cash if the home you want is in one of those "hot spots".   Cash buyers should understand that even in certain hot spots, they may have to pay full price to get the property they want.

 

For sellers, it is critical that your home is priced right in the beginning.  Just because you may be hearing that prices are rising, this may not be true yet in your particular neighborhood.  Find a professional agent  who will be straightforward with you and tell you the truth, no matter what you want to get.  Hire one who has embraced the technology of marketing in today's world and who has survived the past few years and even  prospered.  That is the Realtor, who has learned how to make it happen regardless of what the economy is doing.

 

Nancy Puder is the broker and owner of Signature Properties, a prestigious real estate sales and management firm in Arroyo Grande, CA.  You may contact her at Nancy@NancyPuder.com or (805)710-2415. Your calls are always welcome!

 

 

 

 

 

 

 

 

 

Get Heaters & Roofs Checked Now

 

With the cold and rainy season rapidly approaching, now is the time to get your heaters and roofs inspected.   Inspections can usually be obtained  inexpensively and cost anywhere between $75-$150.   Planning in advance, can have benefits and give you  peace of mind once the change in weather occurs.

 

Most homeowners wait until they actually have a leaky roof or the heater stops working to call a professional.  Unfortunately,  what happens is that  many others are experiencing the same problem at the same time.  Vendors get overwhelmed with servie requests and the homeowner is forced to wait until someone is available to come out.  To complicate matters further, these things seem to always  occur on a Friday night or a holiday weekend from my experience

 

Living without a heater during a cold snap or a leaky roof during the rainy season can be quite unpleasant.  My advice is take a moment to have someone come out, do an inspection and perhaps a little maintenance to prevent future problems. The Gas Company will often come out and do a safety check completely free of charge. 

 

If you need a referral to some contactors, let me know. I would be happy to refer some good ones to you!

 

Nancy Puder is the broker and owner of Signature Properties, a prestigious real estate sales and management firm in Arroyo Grande, CA.  You may contact her at Nancy@NancyPuder.com or (805)710-2415 Your calls are always welcome!