2410 E North Redwood, Anaheim, CA - Bank Owned Foreclosure - 10/30/07 08:31 PM
Check out this incredible bank owned property.
www.2410NorthRedwood.Info
Open, spacious floor plan with step down formal living room withstone fireplace. Formal Dining room. Family room with vaulted ceilings, knotty pine and used brick accents. Kitchen features white tile, newer appliances, wainscoting and glass front cabinets. Beautiful hardwood floors in kitchen, entry, hall and dining room. Plus, there is a spacious bonus room! Don't miss this fantastic value-priced bank owned opportunity!
Don't miss out on this bank owned opportunity! 
Only $575,000
Call Todd at (714) 404-9540 for details!
http://www.theocexperts.com/
http://www.ocmarketupdate.com/
Orange County Foreclosure Specialists
… (2 comments)

620 S Emily, Anaheim, CA - Bank Owned Foreclosure - 10/30/07 08:12 PM
Check out this incredible bank owned property.
www.620Emily.info
Spanish style historical home on tree lined street. Main house features 2 bedrooms, 1 bath. Separate studio features 1 bedroom, 3/4 bath and walk in closet! 1920's architecture and built-ins. Large living room and dining room with a breakfast nook. Could qualify for Mills Act for lower property taxes!
Don't miss out on this bank owned opportunity! 
The price was JUST reduced - only $450,000!!!!
Call Todd at (714) 404-9540 for details!
http://www.theocexperts.com/
http://www.ocmarketupdate.com/
Orange County Foreclosure Specialists
… (1 comments)

Q&A: Will work for rent ... is that taxable? - 10/30/07 07:16 PM
Yes and I can't think of any exceptions.
For the landlord: If your tenant performs a service (painting, gardening, repairs, etc.) in lieu of paying all or a portion of the rent, you should include the amount you would have received in rent in your rental income. Of course, you can also deduct the same amount as an expense, but keeping the bookkeeping accurate is a must!
Also - be sure have them complete a form W9. If this amount exceeds $600 per person per year, you need to issue your tenant a 1099 or face IRS penalties.
For the tenant: … (1 comments)

Q&A: Are Security Deposits Taxable Income? - 10/30/07 06:39 PM
As usual, the answer is "maybe". Yes, one day I will surprise you with a definitive "yes" or "no", but not today.
Scenario 1: If your lease agreement states that the security is to be returned at the end of the lease term, do not include the amount in your income.
Scenario 2: If you keep any part of the security deposit for unpaid rent or expenses, you must include the amount you kept in your income that year.
Scenario 3: If the agreement states that the deposit is to be used as last month's rent, it is not a security deposit, but rather … (0 comments)

Our home was damaged in the California fires. Can we claim a loss on our tax return? - 10/29/07 07:54 PM
As always - the answer is "maybe".
If your allowable loss exceeds the amount reimbursed by your insurance company, you may be eligible for a deduction. The rules are complicated and are handled differently for investment, business and personal property. In addition, there is basis and other restrictions to consider.
If you incurred a loss, it's incredibly important that you contact your tax advisor immediately.
Normally, your excess loss is deductible in year the casualty occurred. However, since any deductible loss from the fires is in an area officially designated by the President as eligible for federal disaster assistance, you can choose to … (6 comments)

Anaheim Hills Open House - Saturday, October 27, 2007 - 10/26/07 07:21 PM
Don't miss this exceptional house located at 5886 Treehouse Lane in Anaheim Hills. It's priced to sell NOW and could go for as low as $750,000!
Call Todd Moeller at 714 404-9540 for details or stop by and meet Nancy from 11 a.m. - 4 p.m. tomorrow.
You can also view this unique home's website and music video at www.5886TreehouseLane.info
Hope to see you tomorrow!  Take care, Nancy
… (0 comments)

2344 Fairmont, Santa Ana - Bank Owned Foreclosure - 10/25/07 06:52 PM

Check out this incredible bank owned property.
www.2344Fairmont.info
Located in Park Santiago.  It's a single story vintage home on a fabulous cul-de-sac, private, well kept, tree lined street. Custom entry door. Formal living room with slate fireplace and built-ins. Kitchen with nook and built-ins. 3 bedrooms plus small office. Spacious family room. Long driveway with room to park an RV. Detached garage with workshop.
Don't miss out on this bank owned opportunity! 
The price was JUST reduced - only $549,900!!!!
Call Todd at (714) 404-9540 for details!
www.TheOCExperts.com
www.OCMarketUpdate.com
Orange County Foreclosure Specialists
… (1 comments)

www.OCMarketUpdate.com for Orange County, California - 10/25/07 12:23 PM
Do you want to know exactly what's going on in the Orange County Real Estate Market? Invest 10 minutes twice a month and you'll know more than 99% of the OC population about Orange County real estate.
http://www.ocmarketupdate.com/
Current Inventory SnapshotCurrent Market InfluencersHow a Seller Should Approach The MarketHow a Buyer Should Approach The MarketWhat We Can Expect In The Upcoming MonthsLinks to Relevant Articles written by Nancy Moeller, CPA of www.TheOCExperts.comProvided by RE/MAX Real Estate Services with additional links to relevant articles and blogs.
Please check it out at http://www.ocmarketupdate.com/ or visit us online at http://www.theocexperts.com/
Have a terrific day!
Nancy Moeller, CPA, … (4 comments)

Tax Deductible Clothing - Absolutely! - 10/24/07 06:54 PM
As always, check with your tax advisor, but I like to deduct my clothing and extend my marketing.
Generally speaking, clothing we use for work is not deductible. However, add a logo and presto - clothing AND the dry cleaning for those items is a deductible business expense.
I don't think I'll be trading my RE/MAX shirts for a deductible gold jacket anytime soon, but I sure like the idea of saving money and promoting our company!
Have a terrific day!
Nancy Moeller, CPA, REALTOR®
Nancy@TheOCExperts.com
Direct: (714) 276-7006
http://activerain.com/action/blogs_admin/www.TheOCExperts.com
Serving Orange County Real Estate, Anaheim Hills Based
… (11 comments)

Interest rates - what could you buy for an extra 1/2% - 10/24/07 06:42 PM
It's one thing to say "buy now because when the market starts to rebound, they'll be fewer choices, higher prices and higher interest rates". It's another to put a number on it.
So when life gets confusing, I create spreadsheets. This one is simple.
Here's the question I wanted to answer:
Not considering any other variables, how much LESS house can I afford if my interest rate goes UP a quarter percent, half percent, etc.
By using the spreadsheet below, I am able to explain to a couple who would be financing $750,000 that the difference between 6.25% and 6.75% is about $3,350 in annual … (2 comments)

A buyer sitting on the fence? - 10/24/07 06:25 PM
Are you a buyer sitting on the fence?
It's so tempting to think we can perfectly time the market and buy at the "low", but the theory is inherently flawed and here's why:
1.   People won't believe we've hit the low until we can clearly started rebounding. At this point, they have clearly missed the "low".
2.  When the low passes, inventory will shrink (less choice) and prices will increase - probably quickly.
3.  And this is my favorite, INTEREST RATES ARE LIKELY to increase because their will no longer be the pressure to keep them low!
See my next blog for a simple analytical tool for … (4 comments)

How much did you spend last month in business expenses? - 10/21/07 01:13 PM
I learned a long time ago that it's not how much you make, but rather how much you keep that really matters. While most of us use Quicken, QuickBooks or some other application to keep track of our finances, how many of us have an actual budget and analyze our expenses on a monthly basis?
It's amazing how much money we spend that we could easily save. I challenge you to pull up a financial statement for this year-to-date. You may need to clean it up a bit putting things in their right category. Then take a close look at your "cash … (14 comments)

Getting more done by compressing time - 10/16/07 09:21 AM
If you've been reading my Blogs this week, I've been talking about the power of tracking activities and results. One of the most useful strategies I ever learned was to look for new ways to "compress time". The concept is simple. Just ask yourself - what activities can I combine to do two things at once?
Currently our business model includes our Real Estate practice, working with time consuming BPOs and REOs, opening a property management company, running a Friday business development group and consulting to the Automotive Industry as a ghost writer.  The only way to get it done is … (11 comments)

Mr. & Mrs. Seller ... let's go shopping - 10/16/07 09:01 AM
Todd and I have added a new step to our listing process to help sellers fully understand our current market. Looking at a CMA is effective, but not really.  So we decided to create a "Live CMA".
We now show our sellers what their potential buyers are seeing in person. Before we advise on the price, repairs and staging, we preview and then take them to see the top 3 competing homes. 
"Dave and Susie - if we had a buyer who was a candidate for your house, these are the other 3 homes we would show them. Let's go take a … (13 comments)

5886 E Treehouse, Anaheim Hills - 10/15/07 06:26 PM
Check out this incredible home located in the heart of Anaheim Hills. Just listed. Totally upgraded. Beautiful yard. Approximately 2,690 square feet, 3 bedrooms, 3.5 baths turnkey home with unforgettable designer upgrades throughout. Large, private lot on a prime, private cul-de-sac location.
Check out this exclusive webpage:
http://theocexperts.googlepages.com/home
Nancy Moeller, CPA, REALTOR®
www.TheOCExperts.com
Nancy@TheOCExperts.com
Direct: 714 276-7006
… (4 comments)

2007 Income Tax Calculator - 10/15/07 11:08 AM
I ran across this really cool tool yesterday that I thought I'd share ...
It's a calculator that estimates your 2007 Income Tax based on the information you provide.
Check it out at:
http://www.dinkytown.net/java/Tax1040.html
Of course, like any "tool", it does not replace the expertise of your tax advisor. Please consult with your tax advisor before taking action or relying on this information.
One of the best investments you can make is to schedule a 1/2 day with your tax advisor to put together a series short and long term tax planning strategies.  Do this once or twice a year and you'll be ahead of 95% … (5 comments)

A Daily Planner … my new “gadget” - 10/15/07 09:54 AM
I've tried - really tried to geek out on this one, too.  I built a really cool "Time Journal" spreadsheet, I used Outlook and even some random time management program to track my time.
So now my perfect planning system is a combination of the Outlook Calendar - which tells me what TO DO and my daily planner (yes, a little black book on my desk) which tells me what I DID. 
So each morning, I check Outlook for appointments, meetings, calls and tasks. Then, I proceed to write each activity (over 15 minutes) and the time I spent doing it.
At … (24 comments)

A Quick Excel Spreadsheet - A simple way to track your results - 10/15/07 09:47 AM
I believe in tracking everything that affects our business. One of the most valuable tools we created to understand what is and what is not working in our business is a simple spreadsheet with the following fields in the top row:
Client NameDate ClosedOriginal Source (the original reason I know this person)Current Source (the reason for this sale)Type (buyer, seller, lessor, lessee, referral)Dollar Value (the selling price, annual rent, etc.)Commission Rate (the percentage I earned)Gross Commission (dollar value X commission rate)Broker Split (if applicable)Admin Fees (if applicable)Concessions (whatever I may have given away to make this happen)Net Commissions (gross commissions - broker … (1 comments)

Even if you filed an extension, you may still have a "Failure to Pay" Penalty! - 10/14/07 10:56 AM
Procrastinators beware ... the final deadline is approaching!
Just a reminder to everyone who may have filed an automatic 6 month extension for their personal returns ... YOUR TAX RETURN IS DUE TOMORROW!  Here's a brief overview of the penalties of filing and/or paying late:
Failure to File Penalty
The failure to file penalty is based on the date your tax return is due (with extensions) to the date you filed your tax return. The penalty is 5% per month, up to a total maximum of 25%. The percentage is based on the tax due as shown on the tax return. So if you … (7 comments)

Questions to start a conversation - 10/14/07 10:39 AM
I had a great question from my last blog and as I was responding, I realized it was probably too long of a response for a return comment, so here's the blog on it.
http://activerain.com/dawnrupe wrote:
Thank you.  
I would like to know what are some great questions to ask people to get them to open up about themselves other than the where do you work and how many kids do you have. 
Here's my response:
Thanks for the comment and question Dawn. I think people spot the typical "rapport" questions early on. Frankly, I like discovering personal information about someone's work, kids, hobbies, etc. later in … (13 comments)

Book recommendation - Never Eat Alone - 10/14/07 09:59 AM
I love to read. And when I find a book that influences me, I like to pass it along. One of my favorites is "Never Eat Alone" by Keith Ferrazzi. Per his bio, "Both Forbes and Inc Magazines have designated him one of the world's most "connected" individuals."
Anyway, here are some of the nuggets I gleaned from his book that might prove useful to you.
Real networking is about finding ways to make other people more successful - it is about working hard to give more than you get.Start finding future clients before you have anything to sell them - get to know … (4 comments)

Turning Screenshots into JPG files you can use anywhere! - 10/12/07 12:37 PM
This is a great trick that has been extremely useful to me in so many ways. Here are the steps to turn a screenshot into a JPG file using applications we already have!
To take a picture of the entire screen - Press the PrintScreen (or Prnt Scrn) button on the keyboard (this will copy whatever is on your screen to the clipboard)To take a picture of only the active window - Press Alt-PrintScreen In your Start Menu - Select All Programs - Accessories - PaintClick Edit, then Paste (or Ctrl V)Click File - Save As and select JPG as your file typeHope … (13 comments)

Auto Expenses Part 1 - Log it or lose it - 10/12/07 12:27 PM
I received a request to write about Auto Expenses. It's actually a big topic, so I'll break it into sections.
The first and most important issue to consider is not whether or should buy or lease your next Mercedes, but rather what you need to do to PROVE your deduction.
Uh oh
If you have been telling your accountant something like "ah ... auto ... about 20,000 miles and 90% business use" as your "documentation", the IRS may disallow all or part of your deduction.
Here's why:
Taken directly for an IRS article:
To claim the deduction, keep adequate records such as a written travel log … (4 comments)

Some of my favorite Excel Tricks - 10/12/07 11:40 AM
I would be absolutely lost without Excel. I have created thousands of spreadsheets over the years and love the ease and depth of the program. Here are some tricks that have saved me time:
Speaking of time, instead of worrying about formating cells, etc ...
To put today's date in Excel, just press Ctrl SemicolonTo put the current time in Excel, just press Ctrl Shift Semicolon For a super fast graph ...
Select your range of informationPress F11To combine data from 2 cells into 1 cell and keep a put a space in between (like to merge first and last names), where A1 and B1 contain … (13 comments)

Saving seconds ... a quick tip (Alt - 0 - 1 - 7 - 4) for ® - 10/11/07 11:08 AM
I wish I could remember who to credit, but I recently read a tip about a quick and easy way to create the ® symbol - which is really handy for us REALTORS® who are supposed to remember to add this little symbol every time we use the word.
Since reading it, I smile every time I am able to quickly add the symbol without looking for it somewhere else or pulling up "symbols" in Word.
Anyway, here it is and THANK YOU to whomever originally shared it:
Press and Hold the ALT key then 0 - 1 - 7 - 4 (you can … (8 comments)

Health Savings Accounts (HSA) Benefits - 10/11/07 11:00 AM
I am surprised how many people, especially the self employed, have not heard of a Health Savings Accounts (HSA). For those of you that haven't explored the benefits, here is a summary:
A Health Savings Accounts (HSA)  is a tax-sheltered savings (like an IRA), but available BEFORE retirement for qualified medical expenses. These expenses cover "out of pocket" expenses from qualified high deductible insurance plans (required) PLUS other qualifying expense NOT covered by insurance (such as dental, vision, acupuncture, alternative medicines, etc.).
Deposits are 100% tax-deductible for the self-employed (and some qualifying employees) and can be withdrawn by check or debit card to pay … (5 comments)

Can REALTORS® deduct expenses for their home office? - 10/09/07 08:24 PM
And my usually answer is ... MAYBE. The rules are tough. You can easily and unknowingly violate a rule.
Here is a discussion of the 2 major rules:
1. You Must Use Your Home Office Both Regularly and Exclusively for Business
Almost always, the area needs to be a separate room in your home with a door. You cannot combine personal and business activities. This includes combining your office with your den, workout room or even letting your kids play games on your computer. I'm not sure about when they barge in and climb all over you. I'll let you know if … (14 comments)

The Phophet - 10/09/07 07:50 PM
One of my all time favorite books is available online at the following link. If you've never read this classic by Kahlil Gibran, I urge you to invest a few hours of your life.
http://www.geocities.com/Athens/5484/Gibran.htm
Some of my favorite passages:
On love:
When you love you should not say, "God is in my heart," but rather, I am in the heart of God."
And think not you can direct the course of love, if it finds you worthy, directs your course.
On marriage:
But let there be spaces in your togetherness,
And let the winds of the heavens dance between you.
Love one another but make … (1 comments)

Commonly missed investment property deductions: - 10/09/07 07:40 PM
Many tax deductible expenses are overlooked by investors with rental property. Many tax preparers simply enter what you tell them instead of probing to dig deeper to discover other possible deductions. On that point - if your tax preparer does not meet with you at least once a year for tax planning (not preparation), switch accountants!
Anyway, here are some commonly overlooked property deductions. If you think you may have missed any in recent years, be sure to check with your tax advisor. You may be able to file an amended return.
1. Interest. Not just mortgage interest, but like I mentioned in the last … (5 comments)

Yes, credit card interest may be deductible ... - 10/09/07 07:27 PM
As a rule, credit card interest is not deductible. But many business owners and investors who are struggling with cash flow, use their credit cards and pay interest to tide them over tough financial times. Hopefully, this is a last resort!
Nevertheless, IF you paid credit card interest (or even interest on a different type of loan) on purchases you made for otherwise tax deductible expenses related to your business or investment property, it may be deductible.
As always, this is not tax or legal advice. If you think this could apply to you, be sure to check with your tax advisor and see if … (2 comments)

It's strange what gets attention - 10/08/07 08:25 PM
I don't know about you, but I labor over my posts. I make sure they are accurate, informative and interesting. Enough about that.
So anyway, I recently convinced my partner to sign up for Active Rain - not really his thing, but he did it for fun. Todd, for those that don't know us, is the MUCH lighter side of our duo.
He recently posted what I call his "Turtle Blog" which soon will exceed my my popular blog for # of comments. In fact, he stayed under 50 words so he WOULDN'T get points. Am I upset? Actually - no.  It … (10 comments)

Don't Sell! That is ... unless you plan to buy! - 10/07/07 11:04 AM
As a rule of thumb, we are advising homeowners not to sell if they don't have to. Here's the easy exception. If you plan on moving up and buying a new home in this same market - go for it.
Once you sell your house, you'll be participating in the same wonderful buyer's market with low interest rates and plenty of choices. After you sell, you'll achieve the same "savings" on your next home as you "lost" on your current home, plus you'll be locking in a lower property tax base then if you wait for the market to rebound and … (4 comments)

Don't time the market - but DO time your sale - 10/07/07 10:55 AM
That's right - market timing is like gambling. Even the expects can't get it right. However, TAX TIMING is an art and a science and if done correctly, can save you tens of thousands in capital gains taxes.
TAX TIMING is using the IRS limits on excludable gain to time your next move. Under the current tax law, up to $250,000 of the gain from the sale of a single person's residence is tax-free. And for certain married couples filing a joint tax return, the amount of tax-free gain doubles to $500,000.
Any gain in excess of the exclusion amount WILL be subject … (3 comments)

Are points deductible - a brief overview: - 10/07/07 10:27 AM
Here's a brief summary I share with our clients from the IRS.  As always, it's not intended to be tax advice and there's more to it and more rules to consider. Please consult with your tax advisor.
You can deduct the points in full in the year they are paid, if all the following requirements are met:
Your loan is secured by your main home (your main home is the one you live in most of the time). Paying points is an established business practice in your area. The points paid were not more than the amount generally charged in that area. … (6 comments)

A Buyer's Market ... yes and no - 10/06/07 11:26 AM
A friend of mine is moving back to Orange County - which is very, very cool as I have missed her during her year away.
Here's the story. She had 3 days to find a house priced in the 600s. She just wanted an updated home with a view in a good neighborhood in some select South Orange County cities. In this market, with all of these choices ... that's a piece of cake, right? That's what I thought.
With no time to preview and because we are great friends, we decided to "go shopping" together for 3 days. I set her … (5 comments)

Anaheim Hills Update - 10/06/07 10:53 AM
We just received the updated numbers for Anaheim Hills this morning. There are currently 318 properties on the market. Only 27 went into escrow in the last 30 days. That means we have almost a one year supply of inventory. Wow.
Based on this numbers, we can estimate that approximately 75% of the Anaheim Hills sellers will NOT sell their home by the end of the year! The statistics are a bit worse for the entire Orange County area - approximately 81% of sellers will not sell their homes by the end of the year.
What does this mean to sellers: If … (1 comments)

Mom knows best ... - 10/05/07 07:58 PM
I was talking with my mom today and she asked me what I was doing for fun. Except for the time "left over" for my family, my answer was "nothing".
Rewind to 2 hours earlier when I asked the "Friday Sales Team" group that I facilitate on (you guessed it) Fridays, the following 3 questions:
1. What 3 things do you value most in life?
2. What 3 things do you spend the most time doing every day?
3. Are the 2 lists in sync?
Sometimes you can ask the right questions to other people, but it takes your mom to point out that your … (6 comments)

Save up to $100,000 a year in taxes for 2 years ... an aggressive tax strategy - 10/05/07 05:22 PM
Seriously!
I know it sounds like a bad three a.m. infomercial ... but it's actually true for some people.  Plus, it's easy, tax-free and involves no work. But, who are the some people you ask?
Let's say you have a piece of investment property that has appreciated over the last 5 - 50 years. A married couple may be able to move into the property for 2 years as their principal residence, sell the home and eliminate (not defer, but ELIMINATE) up to $500,000 of the gain. In a 40% marginal tax bracket ... that could be $100,000 in tax savings per … (4 comments)

Send Out Cards - Cheap, Personal and Fast - 10/04/07 11:56 AM
We started using Send Out Cards a few months ago to help us with follow up cards, campaigns and marketing.
It's simple to use, personal and pretty inexpensive. Here are the nutshell benefits we've found so far:
Online database of 100s of cards - motivational, real estate, occassions, etc.MAILED, not emailed to any addressYou can use your own HANDWRITING font You can set up CAMPAIGNSIt looks like a PERSONAL card from youIt's about $1 - $1.40 per card or postcard, depending on your packageIf you want to check it out, you can get a free demo account to send a card by following the … (9 comments)

Listing presentation guarantees that work for us ... - 10/04/07 11:26 AM
We picked up a great tip from fellow AR blogger Chris Pollinger at a training meeting months ago and we thought we'd share how we adapted his idea. Here are the guarantees we offer on our website and during our listing presentations - IF (and only if) we sense concern or hesitation from our client.
Don't Get Trapped Worried about signing a long term listing contract? Tonight you can sleep easier. We believe in any business relationship, if you're not getting the service you were promised, you should be able to cancel your agreement.
Here are our two 100% Delight Guarantees:
Easy Out Option. If for any … (0 comments)

What's your buyer's budget? - 10/03/07 04:19 PM
Assume your buyer earns $120,000 a year. She is looking at a $650,000 house with 20% down. She has great credit and can secure a 7 year interest only loan at 6 5/8. This house has a 1.1% tax rate and $300 association.
What is her total monthly payment as a % of her gross pay, and more importantly, as a % of her NET PAY.
The first calculation is easy:
$3,767 total payment / $10,000 per month = 38% of GROSS
The second calculation is more difficult and far more important:
For our clients, we create a complete financial budget which takes in consideration the … (5 comments)

A lighter post ... maybe, maybe not - 10/01/07 08:40 PM
After Saturday's heavy post on my opinion regarding the consequences of foreclosures, I promised a lighter post "tomorrow". I wrote one, but decided it wasn't light enough and deleted it.
So instead, I decided not to post ... the pressure of "light" was killing me! Today is not Saturday's tomorrow, so I elected for "heavy" in a non-real estate way.
Tonight I was reading an entry from one of my favorite blogs written by Chris Pollinger. The last point of his list of "Things To Never Do" struck a memory cord. He said "Don't spend time with someone just to fill time; either … (4 comments)