Fannie Wants to do Who in the What Now? - 02/26/09 12:08 PM
Fannie Mae wants to do more business with real estate investors.
In just a few days (3/1), Fannie will start allowing investors to hold up to 10 mortgages and get Fannie Mae backed loans. The limit had been previously reduced to 4. 
It makes sense - investors account for at least 22% of the market, and 75% of their purchases are single family homes, condos, and townhouses.
You'll notice an increase in activity from investors who had been halted by the 4 property limit, so it's certainly a good time to market to them. Start by getting a list of … (2 comments)

Expanded Tax Break for First Time Home Buyers - 02/25/09 01:56 PM
The IRS announced that taxpayers who qualify for the first-time homebuyer credit and purchase a home this year before December 1st can take the tax credit either on their 2008 tax returns this year or on their 2009 tax returns next year. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase price up to $8,000 ($4,000 for married individuals filing separately), and the amount of credit begins to phase out for taxpayers whose adjusted gross income is more than $75,000, … (2 comments)

The California Gold Rush Begins!!! - 02/24/09 02:18 PM
Considered the eighth largest economy in the world, California saw a near-doubling in home sales in the fourth quarter, a pace surpassed only by Nevada's 133.7 percent growth.
Why is this important?
The economy of California is a dominant force in the economy of the United States, with California paying more to the federal system than it receives in direct monetary benefits
For many young couples, plummeting prices and record-low interest rates make it possible to own a home in California for the first time. And of course, Investors can snap up foreclosed properties for cheap and sell them during … (3 comments)

Tax Breaks Piling Up for California Home Buyers - 02/23/09 06:09 PM
Thursday’s new California budget provides a $10,000 state tax credit to people who buy a new house soon. And the $787 billion stimulus bill signed Tuesday by President Obama gives an $8,000 federal tax credit to first-timers buying new or resale homes. So some home buyers this year can set themselves up for $18,000 off their taxes.
Sound like a good down payment to me!
It applies to new California houses or condos bought as primary residences between March 1, 2009, and March 1, 2010. – It’s for 5% of the purchase price or $10,000, whichever is lower. – The … (5 comments)

New federal tax break for first-time home buyers - 02/23/09 05:45 PM
Here are details of the new federal tax break for first-time home buyers:
– It’s for new and existing homes purchased between Jan. 1 and Dec. 1, 2009.
– Buyers get a tax break equal to 10% of the purchase price, up to $8,000.  
– It does not have to be repaid. (Last year, buyers got $7,500 tax credits for homes bought between April 9, 2008, and Jan. 1, 2009, but had to repay over 15 years, interest-free).
– Singles must earn less than $75,000 a year. Married couples can qualify with joint annual incomes up to $150,000.
As a … (3 comments)

Have you told Clients and Prospects about the 41 Tax Deductions they're entitled to? - 02/23/09 05:19 PM
With the current uncertainties in our economic environment, and even tougher times possibly ahead of us, your investor prospects and clients are in a position where they are looking for more ways to save and hold on to every penny they have.
Did you know that there are 41 different expenses that a rental property owner can write-off to put more money in their pocket this tax season?
Don’t let your clients pay more than they need to!

If your investor prospects or clients don’t know about these 41 different expenses they can write-off, they are definitely paying more … (5 comments)

Vogue Magazine, Posters in Paris, and the Moon - What do they have in Common? - 02/19/09 04:33 PM
Absolutely nothing! But if you go to TReX's webinar, you might show up on the cover of Vogue, on posters in Paris, and even on the moon!
… (0 comments)

 

Find CA real estate agents and Fremont real estate on ActiveRain.