‘Tis the Season for Tax Breaks
With April 15 rapidly approaching many are working hard to complete their taxes. For those who have recently bought or sold a home, there are a number of tax deductions that that may be available to them.
Real estate broker’s commissions, title insurance, legal fees, advertising costs, administrative costs, and inspection fees are all considered selling costs and may be used to reduce one’s taxable capital gain by the amount of the selling costs. That could result in a big savings depending on the final sale price.
Interest that is paid on a mortgage is also tax-deductible, within limits. A married couple filing jointly can deduct all their interest payments on a maximum of $1 million in mortgage debt secured by a first or second home.
Buyers may also be able to deduct some of the interest they paid on a home equity loan or similar line of credit.
One deduction that many buyers often overlook is points. Points or origination fees on a home loan that were paid during the purchase of a home are generally tax-deductible in full for the year in which they were paid.
Refinanced mortgage points are also deductible but only over the life of the loan – not all at once. Homeowners who refinance can immediately write off the balance of the old points and begin to amortize the new. Read more
What If My Offer Is Rejected?
Oddly enough, I get asked this question most often before clients write offers. This usually goes along with the fear of commitment or loss. Either way, clients are usually inquisitive of this before even writing an offer or deciding on what terms to offer.
If your inquiring about rejection before you write your offer, you should ask yourself how that would make you feel? Is this property your dream home, starter home, vacation home, investment? I think depending on where your interest lies with investing in that particular property will then come the answer to your question, “what next”?
If the outcome is not what you predicted or wanted then maybe you should ask your realtor why; what was the seller looking for in an offer? How can I learn from this to increase my chances of acquiring my next property of choice? Of course the best advice comes from those with their hands in the market every day so to speak! So….. don’t be afraid to ask your favorite realtor here at Prudential in San Bruno, ” WHAT SHOULD I DO?”
Lets get your best offer in first, then and only if we have to, will we deal with rejection TOGETHER:) Otherwise, BEST OF LUCK with your offer!
Bernadette Ramirez
Prudential California Realty
I WORK FOR YOU!
You can reach me @ 650-871-3639
It’s a Buyers’ Market for Real Estate Investors, too
Turn on any financial news program and at some point you’ll hear the experts extolling the virtues of diversification. Real estate, even through the market downturn, has long been considered a conservative, long-term strategy to growing wealth.
In fact, that very downturn has created a historic buying opportunity for potential homebuyers and investors alike. The combination of lower home prices across American and historically low mortgage rates, two essential factors that usually don’t trend in the same direction, have triggered a buyer’s market in many areas of the country. For real estate investors who want to rent their properties, this can make the difference in achieving positive cash flow sooner or right off the bat.
While some seasoned real estate investors make it look easy, to be successful, beginners should follow some basic principles. Read more
How to choose the “Best” real estate home loan.
Lee Ginsburg, top real estate agent with Prudential California Realty, shares his experince on how to choose the right real estate lender.
Lee Ginsburg
Your satisfaction is my success!
www.LeeSellsMore.com
Is Foreclosure a Smart Way to Go?
In today’s world I am regularly asked by folks whether they should just give up, walk away and let their home be taken by foreclosure or try to “hang in there” until they can find another solution.
This is a really difficult question to answer. There are so many factors involved. Ethicially and morally, I believe that you should do everything you possibly can to honor the contracts that you entered into when you purchased the property, even if the property is no longer worth what you paid…as long as you can still afford to make the payments.
However, the incredible stress of trying to hold on when you can’t afford to make the payments can be all consuming and emotionally destructive. When all else fails, sometimes the only possible answer is to walk away. Before doing that, however, you should explore all other possible options, such as: Read more
Winter Is Approaching … Is your Home Ready?
Autumn winds will blow a chilly reminder that winter is fast approaching. Perform the following maintenance tips each fall to protect your property’s value and prevent major repairs.
Roof, Gutters and Downspouts
Rain, ice, and wind can all cause damage to your roof and gutters. Now’s the time to trim back all tree limbs and vegetation away from the roof. You also should remove debris, such as leaves and sticks from your gutters and downspouts. Clogged gutters don’t allow water to properly drain away from the home, which can cause seepage in your ceilings and walls. You can also invest in gutter guards, a screen that prevents debris from entering the gutter and directs the flow of water away from the house and into the ground.
Water Heater
You don’t want to find out that your water heater isn’t operating properly when you need it most. So use this time to perform an annual inspection, which includes having your tank’s pressure and temperature relief valve checked. In addition, remove sediment from the bottom of the tank by draining two gallons of water to improve heat transfer and the efficiency of your heater. Read more
Fiesta de Trituracion
Prudential California Realty San Bruno estará patrocinando el 4to Evento Anual de Trituración de Documentos. Este es un servicio gratuito que la compañía provee como servicio a nuestra comunidad en forma contribución. Debido al éxito y evolución del evento, tendremos dos camionetas que se aseguran que hasta el último documento sea triturado en una manera segura por que queremos para poder asistir a más miembros de la comunidad. ¡El año pasado trituramos más de una tonelada de papel y esperamos triturar más esta año!
El Proceso no podría ser mas fácil. Usted simplemente se estaciona en nuestro estacionamiento donde uno de los agentes de Prudential lo recibirá and recogerá sus documentos.
Un beneficio adicional es que las camionetas tienen un monitor con video donde usted podrá ver cuando sus documentos sean levantados hasta la camioneta. Esto le dará una seguridad extra de que sus documentos son destruidos seguramente. También para su disfrute vamos a proveer un lonche ligero y bebidas. En verdad que es un evento muy agradable.
Prudential San Bruno patrocina este evento anualmente, marque su calendario cada Abril, normalmente hacemos este evento cerca del Día de La Tierra.
Para que tenga una idea de como es y cómo se organiza el evento por favor presione en la cadena que esta abajo para ver un video del evento anterior.
La información de La Fiesta de Trituración es la siguiente:
Sábado 23 de Abril
10AM-2PM
180 El Camino Real
San Bruno, CA 94066
(Prudential San Bruno Parking Lot)
Con especial agradecimiento a los creadores del video, Annie Chang, Jay Sondhi, Jean Joh & Shokoofeh Nowbakht
Lupita Fernández-Terlau
http://www.lterlau.prucal.com/
Prudential San Bruno’s 4th Annual Shredding Party
Prudential California Realty San Bruno is hosting it’s 4th annual shredding event. This is a complimentary service we as a company provide to our community as a way of giving back. Due to the success and evolution of the event, it has has afforded us the opportuntity to assist more of the community by providing two trucks to ensure every last document gets shredded safely. Last year we shredded over 1 ton of paper and hope to shred even more this year!
The process couldn’t be anymore easier. You simply pull into the parking lot where a Prudential agent will greet you and off load your documents for you.
An extra added bonus is that the truck has a video monitor that you can view as your documents are being lifted into the truck. This gives you the extra assurance that your documents are being safely destroyed. We also provide refreshments for your enjoyment. It truly is a wonderful event.
Prudential San Bruno holds this event annually, so make sure to mark your calendars every April, we typically schedule the event around Earth Day.
For your viewing pleasure and to get a sneak peak of how the event all goes down, please click the link below of a video of last years event.
The Shredding Party info is as follows:
Saturday April 23rd
10AM-2PM
180 El Camino Real
San Bruno, CA 94066
(Prudential San Bruno Parking Lot)
A special shout out to the creators of the video, Annie Chang, Jay Sondhi, Jean Joh & Shokoofeh Nowbakht
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Recent Posts
- What is a reverse mortgage?
- ‘Tis the Season for Tax Breaks
- Top 5 Reasons to Buy a House in the Bay Area in 2012
- After Christmas Sale, – Bay Area Homes up to 60% off
- San Bruno Eye Sore is about to Go
- What If My Offer Is Rejected?
- It’s a Buyers’ Market for Real Estate Investors, too
- How to choose the “Best” real estate home loan.
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