Possibly Overstated, But That’s Okay
Many kudos have been given to the federal homebuyer’s credit for revitalizing the housing market. To be sure, the credit has moved people into the market who wouldn’t have been there otherwise. However, are we overstating the impact? The question is worth asking, considering a recent analysis of the cash-for-clunkers program by Edmunds.com, which found the overwhelming majority of auto sales during the program would have occurred anyway. In other words, sales were simply moved up a little because of the credit.
Perhaps the same situation has occurred in the housing market. Perhaps too many of us are giving too much credit to the homebuyer’s credit while giving short shrift to important economic variables. After all, low home prices and low mortgage rates should be expected to lift the market. That said, no one could say which had the bigger impact, so it is understandable the industry is playing it safe and lobbying for the credit extension. Nevertheless, should its efforts fail (and don’t get us wrong, we’d like to see the credit extended), it’s worth noting that most decisions are based on economic reasons, not tax reasons. Read more
San Bruno Halloween Houses!
San Bruno sure knows how to celebrate Halloween especially if you live on Elm Ave. (Nightmare On Elm St.) Every year families crowd the streets, trick or treating by the thousands. Most homes who give out candy run out. Lines form in front of some houses and there are traffic jams on some of the narrow sidewalks! I saw news cameras one year on the corner of Elm and Clark! Decrations are always a hit! I have posted some for you to see!
Booooooooooooooooooo! 
Prudential’s Pumpkin Patch – What a Great Day!
On Saturday, October 24th, a group of agents from our office held a community event that turned out absolutely perfectly. We held a combination Pumpkin Patch and Coats for Kids event. It was hugely successful.
We provided cookies and hot chocolate, as well as goodie bags for the kids and, of course, pumpkins. We, also, took photos of each and everyone that wanted one and made them a special photo card right on the spot. We even had face painting….All for free!
Many, many people brought coats for the kids, too, which was very exciting. (By the way, for those who weren’t able to attend, please know that we will be accepting coats through the end of October. If you bring a coat or sweater to our office, be sure to fill out a card so that you can enter the drawing we will be having to thank people for donating. Our office is located at 180 El Camino Real, San Bruno.)
For me, the very best part about it was that it was such a diverse event. People of just about every age and nationality attended. It was a great deal of fun for everyone, including those of us working at the event. Business is all fine and dandy, but doing things for others is really what makes life worthwhile. I am so happy that I work for a company that genuinely cares about the community.
Above, are photos of the terrific agents who participated in this wonderful event!
Kathy Wall – October 26, 2009
The Vote is In – The House is Listed
Wow! What great thoughts on my last blog http://www.pruvoices.com/2009/10/the-shoe-is-on-the-other-foot-now/. The voting overwhelmingly said hire the fist agent team I interviewed. That is whom I chose and am very happy. They have been very easy to work with and are very professional. Know anyone whom wants to buy. A 2 Bedroom 2 Bath single family home in a real nice adult community for less than a studio here in the San Bruno or South San Francisco. The bus stops in front of the complex and it is just an hour bus ride to midtown Manhattan. My wife asked me “are you sure you want to sell it?” Here is a link to the “Visual Tour” http://www.visualtour.com/applets/flashviewer2/viewer.asp?t=2029575&sk=30.
Some of the great feedback I received was: speak with the HOA president, speak with the management of the team that was not that experienced, interview CRS members in the area, and Google the agents. Read more
Prudential San Bruno 1st Annual Halloween Pumpkin Patch
Prudential San Bruno will be hosting our first annual Pumpkin Patch this Saturday October 24th from 10am-2:00pm. Our parking lot will be set up like a pumpkin patch and families are welcome to pick one pumpkin of their choice and enjoy goodies such as hot chocolate and cookies. Candy goody bags will be given to children as well as the option to have your face painted or take a picture to take home to remember the event. During the pumpkin patch we will be having our “Coats for Kids” drive so anyone who can spare a coat will be entered into a drawing to win 1 of 20 $50.00 gift cards from Target.
Please join us in making our first annual Pumpkin Patch a success!!
Personal Property Exchanges
Personal Property Exchanges – The Other Side of Section 1031
Many Taxpayers are familiar with §1031 exchanges of real estate. What many people do not know is that section 1031 applies equally to the exchange of personal property. Taxpayers that sell personal property used in a trade or business or held for investment may miss a valuable opportunity to defer the tax gain on the sale if they do not consider like kind exchange treatment for their transaction. Read more
Say NO to Extension of the Federal Tax Credit for First Time Home Buyers!!! (???)
The deadline for the federal tax credit of up to $8000 for first-time home buyers is fast approaching. In order to take advantage of this credit, escrow must be closed by November 30, 2009. If one were to count backwards from this, allowing for a 45 day close of escrow (not uncommon these days), this means that buyers will need to be in contract, at the very latest, by mid-October which means NOW. Read more
The Shoe is on the Other Foot Now
I am responsible for selling my mother’s home. Great I got an easy listing. Well not that quick. She lives in New Jersey. And they do things differently than we here in northern California and I am not licensed in New Jersey. They use lawyers instead of Escrow and Title companies. I pondered how a deal is ever going to close with two lawyers involved. The people I spoke with assured me they do. It seems radon gas is an issue in this part of New Jersey and the seller is responsible for mediating it. My mother lived in an adult community where Open Houses and For Sale signs are not permitted. No wonder as I drove the community I did not see any other homes for sale. I thought there was no inventory and I would receive multiple offers just like here in the San Bruno and South San Francisco. After doing additional research I come to find they have a year’s worth of inventory in the area adult communities. Read more
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