Home equity provides wealth.
Home equity is a more uniformly distributed form of wealth accumulation than any other asset. And, home equity is used to expand small businesses, educate children, pay medical costs, and fund retirement. As of 2007, 53 percent of families owned retirement accounts, 18 percent owned stocks, and 69 percent owned a home. For these homeowners, home equity and household wealth is built by paying down mortgage principal and through normal increases in value. The tax benefits of homeownership, including the mortgage interest deduction, are also beneficial, particularly for recent, younger home buyers, who pay more interest as a share of income. So while renting remains an important option for younger or more mobile households, homeownership is an engine of wealth creation for most households.
Homeownership generates social benefits.
Research studies in economics and other disciplines have shown homeownership increases civic participation, improves childhood outcomes, and increases the value of close-by properties. These social benefits of homeownership spill over and improve the economic and social conditions of neighborhoods with concentrations of homeowners. Homeowner property taxes are the primary revenue source for most local governments, and finance schools and other local services.
Over enthusiasm and faith in continued double-digit housing appreciation fed the housing boom until bad decisions on the part of buyers, lenders, investors, and raters brought the party to an end. But recent discussion questioning the benefits of homeownership is exaggerated and at odds with the facts positioning homeownership’s central place in our society. It would be a mistake to conclude otherwise.
Source:http://www.builderonline.com/business/homeownerships-future.aspx#
Thursday, November 4, 2010
Saturday, August 14, 2010
Friday, June 25, 2010
Friday HOME-Run
We are going to be posting a home of the week each Friday. This will be the home that we will be offering major incentives on and really be making a push to sell. Check back each week for the newest home of the week. Feel free to post questions about the home or come by on the weekend to view the open house!
13502 Coco Palm Ct. $403,500
We pay the closing costs... come and see!
Thursday, June 24, 2010
SUMMERTIME ENERGY-SAVING TIPS
These tips are designed to help you choose effective ways to reduce your energy bills. Some measures may not be relevant depending on climate, the age of your home and appliances, and past improvements made to your home.
FAST AND FREE
The average home spends about $1,900 a year on energy costs. But you can lower your energy bills and help save the environment at the same time!
Be a speedy chef
Nothing is more energy efficient for cooking than your microwave. It uses two-thirds less energy than your stove.
Push a button to wash your dishes
Surprise! Your dishwasher uses less water than washing dishes by hand. Then let dishes air-dry to save even more!
Fill up the fridge
Having lots of food in your fridge keeps it from warming up too fast when the door is open. So your fridge doesn't have to work as hard to stay cool.
Cutting back unnecessary energy use is an easy way to reduce energy consumption while saving money. Here are some additional suggestions you can do at home, at absolutely no cost to you.
Turn up your thermostat
Set your thermostat to 78 degrees when you are home and 85 degrees or off when you are away. Using ceiling or room fans allows you to set the thermostat higher because the air movement will cool the room. Always take into account health considerations and be sure to drink plenty of fluids in warm weather. (Save: 1 - 3 percent per degree, for each degree the thermostat is set above 72 degrees)
Use your appliances wisely
To help prevent electricity outages, avoid running your appliances during peak hours, -- from 4 p.m. to 6 p.m. -- or anytime an electricity emergency is declared.
Do your laundry efficiently by using the warm or cold water setting for washing your clothes. Always use cold water to rinse clothes. (Save: 4 percent)
Line dry clothes whenever you can. (Save up to 5 percent)
When you need to use the dryer, run full loads, use the moisture-sensing setting, and clean the clothes dryer lint trap after each use. (save: 0.5 percent)
Conserve energy by running your dishwasher only when it is fully loaded, and turn off the dry cycle and air dry dishes instead. (save: 1 percent)
Operating swimming pool filters and cleaning sweeps efficiently
Reduce the operating time of your pool filter and automatic cleaning sweep to fourto five hours, and only during off-peak time. (Save: 1-2 percent per hour of reduction)
Eliminate wasted energy
Turn off appliances, lights and equipment when not in use. (Save: 2%)
Unplug electronic devices and chargers when they aren't in use-most new electronics use electricity even when switched "off." Turn computers and printers off at the power strip. (Save: 1-2 percent)
Unplug or recycle that spare refrigerator in the garage if you don't really need it. This will save you up to $150 per year! (Save: 10-20 percent)
Stay cool this summer & good luck saving energy & money!
Check out the "Flex Your Power" website at: www.fypower.com
FAST AND FREE
The average home spends about $1,900 a year on energy costs. But you can lower your energy bills and help save the environment at the same time!
Be a speedy chef
Nothing is more energy efficient for cooking than your microwave. It uses two-thirds less energy than your stove.
Push a button to wash your dishes
Surprise! Your dishwasher uses less water than washing dishes by hand. Then let dishes air-dry to save even more!
Fill up the fridge
Having lots of food in your fridge keeps it from warming up too fast when the door is open. So your fridge doesn't have to work as hard to stay cool.
Cutting back unnecessary energy use is an easy way to reduce energy consumption while saving money. Here are some additional suggestions you can do at home, at absolutely no cost to you.
Turn up your thermostat
Set your thermostat to 78 degrees when you are home and 85 degrees or off when you are away. Using ceiling or room fans allows you to set the thermostat higher because the air movement will cool the room. Always take into account health considerations and be sure to drink plenty of fluids in warm weather. (Save: 1 - 3 percent per degree, for each degree the thermostat is set above 72 degrees)
Use your appliances wisely
To help prevent electricity outages, avoid running your appliances during peak hours, -- from 4 p.m. to 6 p.m. -- or anytime an electricity emergency is declared.
Do your laundry efficiently by using the warm or cold water setting for washing your clothes. Always use cold water to rinse clothes. (Save: 4 percent)
Line dry clothes whenever you can. (Save up to 5 percent)
When you need to use the dryer, run full loads, use the moisture-sensing setting, and clean the clothes dryer lint trap after each use. (save: 0.5 percent)
Conserve energy by running your dishwasher only when it is fully loaded, and turn off the dry cycle and air dry dishes instead. (save: 1 percent)
Operating swimming pool filters and cleaning sweeps efficiently
Reduce the operating time of your pool filter and automatic cleaning sweep to fourto five hours, and only during off-peak time. (Save: 1-2 percent per hour of reduction)
Eliminate wasted energy
Turn off appliances, lights and equipment when not in use. (Save: 2%)
Unplug electronic devices and chargers when they aren't in use-most new electronics use electricity even when switched "off." Turn computers and printers off at the power strip. (Save: 1-2 percent)
Unplug or recycle that spare refrigerator in the garage if you don't really need it. This will save you up to $150 per year! (Save: 10-20 percent)
Stay cool this summer & good luck saving energy & money!
Check out the "Flex Your Power" website at: www.fypower.com
Wednesday, June 2, 2010
California State Tax Credit
In April, Governor Schwarzenegger signed AB 183, providing $200 million for home buyer tax credits. The bill allocates $100 million for qualified first-time home buyers of existing homes and $100 million for purchasers of new, or previously unoccupied, homes. C.A.R. supported this important legislation since its inception.
The tax credit is equal to the lesser of 5 percent of the purchase price or $10,000, taken in equal installments over three consecutive years. Under AB 183 purchasers will be required to live in the home as their principal residence for at least two years or forfeit the credit (i.e. repay it to the state).The eligible taxpayer who closes escrow on a qualified principal residence between May 1, 2010 and December, 31, 2010.
It looks as though this will be the last tax credit for home buyers for a while. This is a new beginning. Real estate is healthier and stronger than it was in 2008 and it is time for it to stand on its own. This is the time to build the home you love in a neighborhood you want. Dont wait!
The tax credit is equal to the lesser of 5 percent of the purchase price or $10,000, taken in equal installments over three consecutive years. Under AB 183 purchasers will be required to live in the home as their principal residence for at least two years or forfeit the credit (i.e. repay it to the state).The eligible taxpayer who closes escrow on a qualified principal residence between May 1, 2010 and December, 31, 2010.
It looks as though this will be the last tax credit for home buyers for a while. This is a new beginning. Real estate is healthier and stronger than it was in 2008 and it is time for it to stand on its own. This is the time to build the home you love in a neighborhood you want. Dont wait!
Thursday, November 19, 2009
Tax Credits for most buyers until April 30, 2010
$8,000 First-time Home Buyer Tax Credit at a Glance
· The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
· The tax credit does not have to be repaid.
· The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.tax c
· The tax credit applies only to homes priced at $800,000 or less.
· The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.
· For homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.
· For homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.
The $6,500 Move-Up / Repeat Home Buyer Tax Credit at a Glance
· To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.
· The tax credit does not have to be repaid.
· The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500.
· The tax credit applies only to homes priced at $800,000 or less.
· The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, the home purchase qualifies provided it is completed by June 30, 2010.
· Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.
Sunday, May 17, 2009
Big Improvement to First-Time Buyer Tax Credit
Use your FIRST TIME HOMEBUYER CREDIT as DOWNPAYMENT!
Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment. Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit.
The NATIONAL ASSOCIATION OF REALTORS® has been calling for the change. “We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment,” Donovan says. His remarks came in an address to several thousand REALTORS® gathered Tuesday morning at "The Real Estate Summit: Advancing the U.S. Economy," at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, D.C.. He says FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.
Other Solutions for Today's Market during his address at the summit, Donovan went on to say that the Obama administration plans to further stabilize the housing market. “I do think we have some early signs that the market overall is stabilizing,” Donovan says. “Since January we’ve seen both home sales moving up and down around a relatively stable number and we are seeing the first signs that the rapid decline in home prices is starting to abate.”
Source: NAR
Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment. Previously, most buyers wouldn't receive the funds until after they filed their tax return, and that deterred some people from using the credit.
The NATIONAL ASSOCIATION OF REALTORS® has been calling for the change. “We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a down payment,” Donovan says. His remarks came in an address to several thousand REALTORS® gathered Tuesday morning at "The Real Estate Summit: Advancing the U.S. Economy," at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, D.C.. He says FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.
Other Solutions for Today's Market during his address at the summit, Donovan went on to say that the Obama administration plans to further stabilize the housing market. “I do think we have some early signs that the market overall is stabilizing,” Donovan says. “Since January we’ve seen both home sales moving up and down around a relatively stable number and we are seeing the first signs that the rapid decline in home prices is starting to abate.”
Source: NAR
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