I'm Moving From A Mobile Home...Will The Tax Extension Apply To Me?

I think it might depend on two questions:

1. Is your mobile home registered with the DMV?

2. Do you pay property taxes on it?

Now the answer would still seem to be two-fold:

1. First time buyer--A buyer would qualify as a first time buyer only if  the mobile home was registered with the DMV and therefore not considered as Real Property.

2. Current Home Owners-- A buyer would qualify as a move up buyer for the extension if The mobile home the mobile was not registered with the DMV and  property taxes were being paid on it as Real Property.

For more information on the Home Buyers Tax Extension and Expansion go to http://activerain.com/blogsview/1322909/home-buyer-tax-credit-not-only-extended-but-expanded-too-

Keisha Hosea is a local Market Expert and Realtor in Chino Hills, California with Keller Williams Realty, She is the Team Director and CEO of KASI Homes. The KASI Homes Team helps buyers and sellers with conventional sales, short sales and bank owned homes throughout the Inland Empire in cities including, but not limited to, Chino Hills, Chino, Ontario, Pomona, Diamond Bar, Corona and more. She has been a local resident for over 22 years and enjoys volunteering with the City of Chino Hills in her spare time. You may call her direct at (909) 261-6377 for further questions on this information or any other real estate advice.

Home Buyer Tax Credit...Not Only Extended, But Expanded, Too!

Many home buyers have been on pins and needles awaiting the decision on the tax credit extension. Current home owners have also been anxious to see if they would be given the opportunity to have a piece of this stimulus package.  Looks like the wait is over.  The Senate's recent vote resulted in a 98-0 win and  it was passed in the house.  The bill must now be signed by the President.

The First-time home buyers tax credit of up to $8,000 was due to expire on December 1, 2009 but will now be extended through April 30, 2010.  The newly backed program will also expand the credit to include existing home owners.   The tax credit expansion is applicable to current homeowners who are buying a new primary residence if they owned their home for five consecutive years in the previous eight. Such homeowners will be able to apply for tax credits of up to $6,500 when they purchase their next home.  

To qualify, buyers will have to sign a purchase agreement by April 30, 2010 and close by June 30, 2010.  The maximum purchase price on a home will be $800,000.  Income limitations are $125,000 for single tax payers and $225,000 for joint filers.  Both credits are available only for primary residences, not second homes or investment properties.

Let’s not forget those who have committed themselves to our Country. The tax credit is also set to be extended for another year for military personnel serving outside of the United States until June 30, 2011.

According to the National Association of Realtors (NAR), about 1.4 million first-time homebuyers have qualified for the program. It is further estimated that 350,000 of these buyers would not have otherwise purchased.

To compare the old tax credit to the newly extended and expanded tax credit go to http://www.realtor.org/about_nar/presidents_report/_podcast_archive/mcmillan_taxcreditextended_20091105  and click on the link for "Compare the differences."

Keisha Hosea is a local Market Expert and Realtor in Chino Hills, California with Keller Williams Realty, She is the Team Director and CEO of KASI Homes. The KASI Homes Team helps buyers and sellers with conventional sales, short sales and bank owned homes throughout the Inland Empire in cities including, but not limited to, Chino Hills, Chino, Ontario, Pomona, Diamond Bar, Corona and more. She has been a local resident for over 22 years and enjoys volunteering with the City of Chino Hills in her spare time. You may call her direct at (909) 261-6377 for further questions on this information or any other real estate advice.

Chino Hills Home Values and Sale for October 2009

The months of supply of homes for sale is extremely low for single family homes in Chino Hills. From this time last year, the supply of homes for sale has decreased by 78%.

The supply and demand for single family homes in Chino Hills also shows us that the number of single family homes for sale is down 61%. The number of homes for sale (demand) for single family homes has increased by 6%.

Over the past year the median sales price has increased by 6%. Since last year, the average days on the market has decreased by 6%. Homes remained on the market an average of 66 days for the month of October.

So what does all this mean for you? It means that if you are a seller in Chino Hills, you are quite likely to be able to sell quickly and receive multiple offers.  As a home buyer you will be able to purchase a home for less than you could two years ago and get more house for your money.   We help list and sell your home quickly. Need a short sale? We can also help with that.

Keisha Hosea is a local Market Expert and Realtor in Chino Hills, California with Keller Williams Realty, She is the Team Director and CEO of KASI Homes. The KASI Homes Team helps buyers and sellers with conventional sales, short sales and bank owned homes throughout the Inland Empire in cities including, but not limited to, Chino Hills, Chino, Ontario, Pomona, Diamond Bar, Corona and more. She has been a local resident for over 22 years and enjoys volunteering with the City of Chino Hills in her spare time. You may call her direct at (909) 261-6377 for further questions on this information or any other real estate advice.

Five Ways For Home Sellers To Ensure Their Home WON’T Sell

                                                                       
1. Severely restrict showing days and times along with making it “shown by appointment only”
2.Make sure to keep all the windows and window coverings closed so that the home is extremely dark. After all, everyone wants to buy the “Batcave”
3. Leave enough dirt and debris on the kitchen counters and sink so that prospective buyers get an idea of what last week’s dinner was.
4. Be sure to follow prospective buyers and their agents from room to room and tell then every last detail about the home.
5. Last, but certainly not least, be extra sure to have your children scream, run around, and sneeze all over prospective buyers and then throw themselves on the floor in a tantrum as you continue to give details on the home.

There are more than a few ways to scare off home buyers and ensure that your home WON’T sell. I just happened to recently encounter all the above while out with one of my buyers. It really felt reminiscent of an “I Love Lucy” episode. As I continue to shake my head even as I write this, I do hope that sellers everywhere understand that there are actually ways to also ensure the sell of your home.

1. Price your home well with the expert advice of a licensed Realtor.
2. Make it available and easily accessible.
3. Keep it clean.
4. Let prospective buyers tour at their leisure. If you must be at home, excuse yourself to the back or front yard until they are done viewing.

These simple truths can help you procure the successful sell of your home.

Keisha Hosea is a local Market Expert and Realtor in Chino Hills, California with Keller Williams Realty, She is the Team Director and CEO of KASI Homes. She has been a local resident for over 22 years and enjoys volunteering with the City of Chino Hills in her spare time. You may call her direct at (909) 261-6377 for further questions on this information or any other real estate advice.

Bank Owned Home For Sale, Riverside, CA

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Our Short Sale Is Approved, But Now Where Do We Move?

After waiting tirelessly for months on end for a short sale approval, it finally came. With a buyer and short sale approval we proceed to escrow. We are in the final stretch. But with the  dip in credit scores endured by many sellers in short sales, finding a landlord that is willing to rent is sometimes difficult.  The process can be both physically and emotionally draining.  

Here are a few tips to help with the process:

1. Enlist the help of family and friends. They may come across friends they know who would be willing to look past a few credit issues because they know someone in common.

2. Be willing to compromise. Youmay have to compromise for a short wile as to some of your ideal preferences. Maybe it's not the exact location you want or does not possess as many upgrades as you are accustomed to. Remember, this is temporary. Life will not be this way forever. Compromise a little now and know that you can improve upon it later.

3. If an investor is buying the home or someone who does not need to move in right away, you may be able to "rent back" from the new buyer. Many times you can negotiate this and it wors well for everyone.

4. Be prepared for a few rejections but know that you can get through them. Yes, you will run across your share of landlords that can't see past your recent short sale or credit issues. Don't take it personally. Realize that they are simply making a business decision. Keep moving along until someone says "YES"

Keisha Hosea is a local Market Expert and Realtor in Chino Hills, California with Keller Williams Realty, She is the Team Director and CEO of KASI Homes. She has been a local resident for over 22 years and enjoys volunteering with the City of Chino Hills in her spare time. You may call her direct at (909) 261-6377 for further questions on this information or any other real estate advice.

First Time Buyers Want Extension of the Tax Credit. Will It Happen?

On October 20, 2009 National Association of Realtors® First Vice President Ron Phipps spoke to the Senate Banking, Housing and Urban Affairs Committee during a hearing on “The State of the Nation’s Housing Market.” Phipps cited data that shows how providing the tax credit has helped strengthen homes sales. Such homes sales also in turn provide an economic boost to the national economy.

The present credit is due to expire on November 30, 2009 and could gravely impact the gains made by the current tax credit for the housing market and overall economy. 

Some of the naysayers against extending the credit state concerns regarding the ability of the IRS  to effectively administer the credits that have been claimed. They have expressed concerns over fraudulent claims.  Many of the claimants, nearly 74,000, appeared to have already owned a home.  According to congressional estimates, an extension would cost roughly $1 billion per month. The question is whether the expense would outweigh the boost in the housing market.

As the debate continues, it is undeniable that this tax credit has helped many first time buyers become homeowners. Hopefully, we can see this continue.

Keisha Hosea is a local Market Expert and Realtor in Chino Hills, California with Keller Williams Realty, She is the Team Director and CEO of KASI Homes. She has been a local resident for over 22 years and enjoys volunteering with the City of Chino Hills in her spare time. You may call her direct at (909) 261-6377 for further questions on this information or any other real estate advice.

Bank owned home for sale in Riverside, CA located at 6919 Adler, Riverside, CA priced at $142,900

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Clients, Friends and Family Are What Make This A Business Worth Having in Chino Hills, California. About two and a half years ago a Realtor from Maine called to refer some clients, Mr. and Mrs. Mason to me. They lived in Chino Hills, California and were planning to retire in Maine. They needed to sell their home here in Chino Hills, California.

After meeting with Mr. and Mrs. Mason, we mutually agreed that we would make a great team at getting their home sold. As we prepared to undertake getting their home on the market, Mr. Mason’s health took an unexpected turn. Plans to retire had to be put on hold as we awaited to hear about Mr. Mason’s health. The news was not good as Mr. Mason was diagnosed with cancer.

The Mason’s and I remained in contact.  Mrs. Mason and I would get together for lunch and chat on the phone occasionally.  Mrs. Mason would call me for Real Estate advice here and there.  Then one day she phoned to tell me that Mr. Mason had passed away. My heart sank. For many months thereafter, Mrs. Mason and I spoke, had lunch and processed Mr. Mason’s passing.

Then one day, Mrs. Mason called and told me about her plan to invest in property. We immediately set about an investment strategy for single family homes. After a four month negotiation on a short sale, we closed escrow on a beautiful four bedroom home with over 2000 square feet. We are now looking for her next three homes.

I am thankful first, for a career and business where I am able not only to help the people I know obtain their goals and second, for a business and career where my clients become friends and my friends become family.

Much love and gratitude to Mrs. Mason and all the other wonderful people in my life. Thank you for your continued support.