Paul Kaplan's Blog

Palm Springs - more sustainable ideas...Replace your pool pump and get a rebate!

Mon, 12 Oct 2009 11:53:54 -0500

The Palm Spring City Council voted to issue rebates to Palm Springs residents who replace their pool pumps with more efficient models.

A total of 40 Palm Springs residents will have the opportunity to save money on new energy efficient pool pumps thanks to the City Council which allows Palm Springs to take part in a rebate program with Southern California Edison. The total rebate is $535 for those residents that agree to replace their existing pool pump with a qualified energy efficient variable flow or speed pump.. In addition, as an incentive - the City will waive the permit fee.

For more info:

Contact: Amy Blaisdell

Director of Communications

City of Palm Springs

(760) 323-8250

Palm Springs Farmer's Market open for the season again.

Wed, 23 Sep 2009 13:58:24 -0500

This market brings local farmers and vendors together to showcase the fruits of their labor. It features organic and transitional produce, cheese, bread, fresh cut flowers, nuts, and California-grown olive oil. Organic coffee and a fresh market breakfast is available at the nearby on-site cafe. A weekly Market Chef booth features recipes and educational materials.

Location:
2300 E. Baristo Road at Farrell on the
North Side of the Camelot Theaters in Palm Springs, California

Dates:
Saturday, 8 am to 12:30 pm
September - June

Contact:
Certified Famers Market Palm Springs
760-898-5250
cfm@psculturalcenter.org

Its easier to get to Palm Springs this season!

Wed, 26 Aug 2009 11:53:02 -0500

Whether you're looking for Palm Springs Real Estate or just coming to relax, lay by the pool, or enjoy a round of golf- flying to Palm Springs will be even more convenient as more flights have been added this season:

The Palm Springs International Airport has added new seasonal air service. The airport is served by ten airlines and has about 100 daily flights. New flights this season include:

Alaska Airlines increases to daily round-trips to Seattle/Tacoma beginning August 23.

American Airlines launches its nonstop daily Chicago service beginning August 25.

American Airlines adds its third Dallas-Ft. Worth flights beginning August 25.

United Airlines increases its San Francisco flights to three daily round trips beginning Sept. 2.

Flight service on WestJet out of Calgary, Alberta begins on September 8, a full month earlier.

Allegiant Air is increasing their Bellingham, WA service beginning September 22.

More short sale fun!

Tue, 25 Aug 2009 14:30:21 -0500

After waiting four months for Bank of America to assign a negotiator to even look at our short sale package and offer, the buyer unfortunately found another property and cancelled his offer. The two back up offers we had on the property, backed out of the deal a long time ago.

In a desperate attempt this last week, we did everything possible to try to push this deal through before the cancellation. We even contacted the VP of Portfolio Retention for B of A with a plea for help. His simple response?

"Unfortunately there isn't a way to speed up a short sale. It is a process driven transaction."

I have two other short sales with B of A that are in process. One where I am representing the buyer, I can't even get confirmation from B of A that the offer was even submitted.

Is anyone having similar problems with B of A? Any suggestions on how to get these processed on a timely manner? We've done many short sales, all are a challenge but in our team's experience, none have been as problematic as B of A. Should we just cut or losses, and just boycott all short sales that have to do with B of A?

Thanks.

What's going on with Downtown Palm Springs?

Fri, 21 Aug 2009 13:40:31 -0500

The Desert Sun issued a report in Today's paper about the status of redevelopment in Downtown Palm Springs...

In 2006, two plans were approved by the Palm Springs City Council, these were envisioned as gateways to the heart of downtown Palm Springs.

However, due to the decline in the economy and lack of available funding, both projects have been put on hold. It could be years before either development breaks ground, amidst the worst economic climate in years.

The Port Lawrence Project, consisting of a 4 acre site on the corner of Palm Canyon and Alejo, has been stalled as the developer has not been able to obtain financing, per the Desert Sun report. The original plan called for an exciting mixed use project consisting of retail and residential units. Port Lawrence is being "rethought to reflect the current economy" and could be redesigned as a boutique hotel with some condos, project architect Doug Hudson said last week. RIght now, its just a vacant lot.

On the oppostie end of downtown, on the corner of Palm Canyon and Ramon, is the location of what is referred to as the "IHOP" project, (named after the International House of Pancakes currently located here), also known as The Palm Canyon. The design also was a mixed use project with retail and residential. However it suffers also from the downturn in the economy. The project received a one-year extension that expires in October, and representatives say they plan to ask for another one-year extension.

The Fashion Plaza, located in the center of Palm Springs downtown core, also awaits redevelopment. City and business leaders further envisioned Port Lawrence and The Palm Canyon to compliment the long-awaited remodel of this 13-acre Plaza.

Per the Desert Sun, "Representatives of Desert Fashion Plaza developer John Wessman and city officials say they're in early negotiations to pen a public-private deal that could bring that remodel, a key piece of the downtown Palm Springs puzzle, into place."

The next step in their negotiations is scheduled for Wednesday, David Ready, City Manager said. And he anticipates the City Council could review an agreement that outlines the financial roles of the city and the developer in October.

Ultimately- Downtown Palm Springs has huge potential once these three project are underway. With the housing market starting to settle down a bit and showing signs of a rebound, hopefully we're one step closer to economic stability. Maybe eventually we'll see these projects pick up some momentum sooner then later to help revive the Downtown Palm Springs core.

Click here to read the full article: http://www.mydesert.com/article/20090821/NEWS05/908210302/1143/news01/City%20s%20gateway%20projects%20years%20off

Low-priced foreclosures incite bidding wars - recent listings receive 22 offers

Thu, 30 Jul 2009 20:21:10 -0500

MSNBC.com reports that first-time buyers in some areas, especially those with large numbers of foreclosures, are finding that bank-owned properties are sparking bidding wars that drive up sale prices and entice investors - who often pay cash and buy several properties at once.

This information is consistent with what's going on in the Palm Springs market. Recently, clients of mine participated in bidding wars on mid-century properties:

A mid-century foreclosure designed by Donald Wexler, was listed at $174,000. There were 22 offers on the property, and it ended up selling for $290,000
An Alexander built mid-century home designed by William Krisel, was recently listed at $225,000. With multiple offers, the house sold for $260,000.

KEEP THIS IN MIND

• Buyers are advised to work with REALTORS® to help increase the chances that their offers are accepted on homes, particularly those that are attractive to investors. With guidance from a REALTOR®, buyers can present offers that are more likely to be accepted by a bank. REALTORS® also often have knowledge of properties that are new on the market, and may have not yet caught the eyes of investors.

• Recently enacted federal legislation designed to help people remain in their homes has slowed the flow of foreclosures into the market, lowering the inventory and increasing the demand for remaining homes. In June, C.A.R.'s Unsold Inventory Index (UII) stood at 4.1 months, compared with 7.6 months for the same time period a year ago. The UII indicates the number of months needed to deplete the supply of homes on the market at the current sales rate. Homes priced $500,000 or below had an unsold inventory of approximately three months in June. In June 2008, the unsold inventory in this price range was nearly 10 months.

To read the full story, please click here:

http://www.msnbc.msn.com/id/32011159/ns/business-real_estate/

Wiliam F Cody FAIA - famed Mid-Century Architect of the Palm Springs area

Thu, 30 Jul 2009 15:23:50 -0500

The Palm Springs area features great architecture by noted Mid-Century Architects. One of best, was

WILLIAM F. CODY FAIA (1916-1978)

The follow is an excerpt from the City of Rancho Mirage biographical history of local architects.

Born in Dayton, Ohio, he was raised in Los Angeles. While attending architecture school at USC in the late 1930s and early 1940s, Cody was also working for architect, Cliff May, gaining experience in the adaptation of ranch and hacienda style houses to modern floor plans, in addition to construction techniques. Cody suffered from asthma and believed that living in Palm Springs would not only help his health, but also would offer an opportunity to work with prominent clients. He moved to town in 1944-45 to set up his practice. One of his first projects was the Del Marcos Hotel of 1946, located in the downtown area of Palm Springs, one block was of Palm Canyon Drive. It won an AIA "creditable mention" award representing an example of new resort hotel architecture for its "ingenious plan, which appears complicated but is actually orderly and thoughtful." Architecture critic Alan Hess writes, "Greater thinness and more striking elegance became the single-minded focus of his ongoing design."

Cody had quite the reputation for carousing, yet was exceptionally focused on the details of his designs and pushing the boundaries of his materials. His early works include designs for clubhouses a Thunderbird, Tamarisk and Eldorado Country Clubs. Cody also designed a large number of residences in the country club areas, many along the fairways of the new resort concept of course course living, a concept that Cody himself helped to devise.

Author Adele Cygelman writes, "Joints and door frames seemingly disappeared into walls. He merged living rooms into terraces and gardens. Roofs jutted out twelve feet to shield the walls of glass. Pattern and texture came from tile floors, carved wood panels, and concrete-block screens with geometric motifs, all of which were meticulously designed by Cody to match each other precisely at the seams and angles where the planes met."

The property pictured here on Country Club Drive, features severe angles of natural materials & glass gracefully penetrating each other, in a "peace-sign" shaped three winged floor plan. Use of natural stone and wood paneling, as well as walls of glass opening to the terace, are featured in this classic example of what was Cody's resort style architecture.

Cody designed many homes in Rancho Mirage. However, since the City was not incorporated until the 1970s, many of the original building records were lost. Thus it has not been possible to authenticate all of his works, such as the one featured here, other then recognizing the traditional Cody design elements.

In addition, Cody designed churches, gas stations, motels, restaurants, offices, a mobile home park, shopping centers and even a car wash. Hess reported, that "a distinct character can be seen in all of them. It is a restless energy that brings a liveliness to his plans, elevations and details. The radical thinness of Cody roofs or the daring reach of a cantilever are clearly the result of a wrestling match between the architect and the materials and the laws of physics; that energy and striving remains in the building." Hess concludes, "The fact that Cody could take an established vocabulary and style and reinterpret it so vividly ranks him among the best of mid-century California designers."

Another busy week for Palm Springs Real Estate as the market continues to build momentum...

Wed, 29 Jul 2009 18:00:40 -0500

Real Estate Sales Activity for Palm Springs, Week Ending 7-25-09

Presented by Paul Kaplan

Sales volume continues to increase month over month. The under $200,000 price range remains to be the busiest sector which represents almost 50% of the sales this week. Of special interest, there were 5 properties that sold over $1,000,000, showing the that higher end market is showing signs of improvement as well. Sales volume was up 40% over the same period of 2008.

Total Sales: 42

Low: $42,500

High: $2,475,000

Median: $203,500

Number of Sales:

Under $200,000 = 20

$200,000 - $300,000 = 8

$300,000 - $400,000 = 6

$400,000 to $1,000,000 = 3

Over $1,000,000 = 5

Palm Springs - updated Mid-Century Home just listed for $448,000

Mon, 13 Jul 2009 14:34:19 -0500

California real estate market is finally rebounding

Fri, 26 Jun 2009 20:23:47 -0500

Is the California real estate market rebounding finally? According to many Real Estate Experts, what happened to the Real Estate Market across the state of California foretold the downward spiral of home prices, and overall home sales, across the country.

It appears that California Home Sales appear to have turned a corner. In May, the Median Sales Price of a CA home increased to $267,570 - up over 4% from April, according to the California Association of Realtors, as reported in today's Wall Street Journal by Reporter Stu Woo.

The California Inventory of Unsold Homes also continues to fall. Today's report shows a 4.2 month supply of homes unsold, versus 5.6 months supply in April, and 8.7 months of supply in May, 2008. In an average market, there is a 7 month supply. However, the Realtor Association calculates median home prices are still 30.4% lower than they were this time last year.

Today's report seems consistent with the Palm Springs real estate market. Sales have been continually increasing in all price ranges, since January. In our office, June sales to date have been the strongest in over 2 years. Although lower priced homes seem to be the busiest sector of the market, we're starting to see a number of sales in the over $1 million price range as well.

Although we're not seeing panic buying, many of those buyers that were sitting on the fence are realizing that perhaps the market has finally hit the bottom. Its not unusual to have multiple offers on well priced properties lately, often with homes selling for over the asking price.

it feels like we've weathered the storm! If you'd like to find out more about the Palm Springs real estate market, please contact me for more information.

Paul Kaplan

www.midcenturymodernps.com

760-285-8559

Pacific Union Real Estate

WHY IS HISTORIC PRESERVATION IMPORTANT?

Thu, 25 Jun 2009 09:44:21 -0500

Palms Springs is fortunate that it has probably the highest concentration of mid-century architecture found anywhere in the world, which is pretty impressive for the size of our city of only 45,000. We are internationally known for our architecture, making us famous, and additionally making us a key architectural tourist destination.

Last night unfotunately, the City Council and Mayor voted once again against saving an architecturally historic site, the Town and Country Center, http://www.friendsoftcc.com/ , failing to recognize its value to the city.

I just wanted to take some time to remind people what Historic Preservation is and why it IS important-Unfortunately our Palm Springs leaders couldn't recognize the importance of the Town and Country Center despite preservationists efforts, but perhaps this will assist other groups trying to save their historic gems in their cities. The following was taken from the City of Costa Mesa's historic quidelines, which I think are relevant:

"The Costa Mesa City Council recognizes the importance of protecting historic resources for the following reasons:

To encourage public knowledge, understanding, and appreciation of the City's past.
To foster civic and neighborhood pride and a sense of identity based on the recognition and use of cultural resources;
To preserve diverse and harmonious architectural styles and design preferences reflecting phases of the City s history and to encourage complementary design and construction;
To enhance property values, and to increase economic and financial benefits to the City and its inhabitants; and
To protect and enhance the City's attraction to tourists and visitors, thereby stimulating business and industry."

Best wishes to other preservationists in the world! Obviosuly I'm an avid architectural historian and preservationist myself- so if I can assist you and support you in your causes, please drop me a line!

Paul

Is your historic neighborhood worth preserving?

Sun, 21 Jun 2009 11:54:24 -0500

For those of us that live in historic neighborhoods, here are some useful tips for preservating the architectural and historic value of your homes. Preservation can increase prestige and quality of life, and may increase property values. Often there are tax breaks available for those living in neighborhoods declared historic.

Palm Springs is filled with many historic neighborhoods. (Click here for a map) If you're interested in preserving yours, please read on.....

Tips for preserving your neighborhood

From the pages of the CA-Modern magazine
By Dave Weinstein

Reach out for supporters. Build support among neighbors by demonstrating the architectural and historic value of your homes. Sponsor tours, hold block parties, mount exhibits. Provide sign-up sheets to recruit supporters. Bring in speakers with enthusiasm, a sense of humor, and a non-threatening manner. Include everyone. Being non-threatening is crucial. Most people don't want to give up control over their homes. Make sure to include everyone in the process.

Educate the neighborhood. Start 'community education' early on, says Cindy Olnick, communications director of the Los Angeles Conservancy. "It can take years to educate your neighbors and get consensus on it," she says. "It won't work without consensus."

Shoot down myths. Be prepared to combat 'rumors and misinformation' about the ill effects of preservation rules, advises Dwayne Howard, who pushed for the historic designation at Mar Vista in Los Angeles. Olnick emphasizes the point by pointing out one common myth: "Some people say you won't be able to change your curtains if you live in a historic district."

Emphasize value. Focus on how preservation can increase prestige and quality of life, and may increase property values as well. For ammunition, check out the paper 'Historic Designation and Residential Property Values.'

Form a committee. To spearhead the effort, "Organize a small committee to set direction and to handle most of the legwork and document preparation," advises Suzanne Shea, who followed this strategy in creating a single-story overlay for her Eichler neighborhood in Sunnyvale.

Get online. Start a neighborhood website.

Review CC&Rs. Consult neighborhood CC&Rs to see if they call for architectural review. Ditto city zoning codes.

Recruit diverse volunteers. If new architectural guidelines are needed, Denise Jerome of River City Commons in Sacramento suggests to "find volunteers...willing to work for two years on the guidelines, with varying skills or hobbies such as landscape designer/architect, horticulturist, architects, logical design, handyman, writing, organizing, project management, photography, document management, perseverance, legal areas."

Appraise home exteriors. Survey your neighborhood house by house to determine how architecturally intact it remains. For survey forms and instruction, contact your local planning department or the state Office of Historic Preservation. Also, find out if someone has already done such a survey or plans to do one. The city of Los Angeles is gearing up for SurveyLA, a citywide survey of potentially significant structures. Caltrans is also surveying neighborhoods throughout the state that may be affected by future highway work. And some local preservation organizations have surveyed historic areas.

Use surveys as educational tools. Don't let your completed survey molder! Use it to increase appreciation for your neighborhood's assets. Publish it with photos and put it on the web. Place copies in libraries, community centers, and at city hall.

Win over government. To win backing of city or county government, Doug Kramer of Rancho Estates in Long Beach suggests: "The key thing is to have an association and to ensure that association is communicating effectively with their council person, with their homeowners, with their neighbors."

Anticipate opposition. "Shortly before the planning commission and city council hearings, go to city hall and check in the file for your application, note if anyone is objecting and what their concerns are," Shea says. "Also, read the planning staff analysis and recommendations, so you can be prepared to respond to any concerns at the hearings."

Get supporter turnout. "Make sure to have a large turnout at hearings," Shea says. "Have many people speak, but keep it brief and each cover a different aspect. Don't repeat yourselves."

Dramaticize your case. At public meetings, dramatic presentations help. To illustrate why two-story homes wouldn't work in their neighborhood, Sunnyvale residents displayed a slide of one of their neighbors trying to enjoy pizza at home -- while waving through his wall of glass at what a neighbor in a proposed two-story home would be able to see -- everything!

Investigate registries. To seek a spot on the National Register of Historic Places or the California Register of Historic Resources, contact the state's Office of Historic Preservation. Applications are reviewed by the office's staff, then by the Historical Resources Commission. The commission makes recommendations for national recognition to the National Park Service.

Review prior successes. Talk to residents of other neighborhoods who have created overlay zones or instituted architectural review to find out how they did it. Several of these neighborhoods have been profiled in CA-Modern. Stay strong. And, Denise Jerome urges, "Be persistent, and don't give up hope."

Please help save Historic Downtown Palm Springs

Tue, 16 Jun 2009 10:37:43 -0500

Petition to Save Historic Downtown Palm Springs

www.pspreservationfoundation.org

Please take a moment to electronically sign our petition at

http://www.ipetitions.com/petition/TownandCountryCenter/ in support of the Class 1 historic site designation of the Town & Country Center (T&CC) (1948). The T&CC is an architectural masterpiece designed by A. Quincy Jones and Paul R. Williams.

The city council will meet to discuss the Class 1 historic site designation of the T&CC at 6PM, Wednesday, June 24, 2009 (as always, subject to last-minute rescheduling) and you are encouraged to attend. The designation is the only item on the agenda that evening. Although the city staff and the city's Historic Site Preservation Board have recommended designation, the owner/developer does not support the designation and has lobbied against it. See http://www.pspreservationfoundation.org/tcc.html for additional background information on the T&CC issue.

If you would like to assist in this petition effort, please forward this petition to like-minded concerned citizens. If you would like to do even more to help, please contact us at info@pspreservationfoundation.org.

Thanks for your support!

Paul Kaplan

www.MidCenturyModernPS.com

A busy week for Palm Springs real estate sales as the market builds momentum

Mon, 15 Jun 2009 14:00:50 -0500

Real Estate Sales Activity for Palm Springs, Week Ending 6-14-09

Presented by Paul Kaplan

Sales volume is up, consistently increasing over the past few months. As can be seen, the busiest sector of the market remains to be the under $400,000 price range, which represents appox. 90% of this past weeks sales.

Total Sales: 29

Low: $64,217

High: $1,850,000

Median: $321.950

Number of Sales:

Under $200,000 = 11

$200,000 - $300,000 = 9

$300,000 - $400,000 = 6

Over $400,000 = 3

New California 90 day foreclosure moratorium goes into effect on Monday

Sat, 13 Jun 2009 21:05:43 -0500

After a severe economic storm of more than 365,000 California foreclosures since early 2007, the state's long-awaited 90-day foreclosure moratorium law goes into effect Monday.

Startting Monday, loan servicers must prove to the state they have comprehensive loan modification programs in place - or be denied rights to foreclose on their own schedules. The new law is supposed to make lenders try harder to keep borrowers in their homes.

The law will largely press lenders to follow the Obama administration's Making Home Affordable Program that began in March. That encourages lenders to cut interest rates or rewrite loans to 40-year terms to get payments below 38 percent of a borrower's monthly income. Other options include reducing principal and tacking missed payments to the back of the loan. Under the law, California officials also can encourage short sales or deeds in lieu - options in which banks accept less than owed - for borrowers who want to leave or don't qualify for modifications.

This is basically how the new law will work:

• Lenders will submit applications to the state outlining their loan modification programs. That gives them a 30-day exemption from a moratorium.

• If the state OKs a lender's program, the firm is permanently exempt from the 90-day delay on foreclosures.

• If the state rejects the program as inadequate, a lender has 30 days to upgrade it and be reconsidered.

Leyes said consumers will be able to see a list of lenders that comply with the state's requirements by mid-July.

To see the full article, click here.

Mid-Century desert bungalow foreclosure - Palm Springs area $122,760

Sat, 13 Jun 2009 16:10:07 -0500

Great buy for a mic-century classic desert bungalow

Rare opportunity to own this nearly 1/2 ACRE property with vintage mid-century artist's bungalow high in Cathedral City Cove. This is truly a special and SERENE PROPERTY with AMAZING rare valley views, city light views, & panoramic mountain views. This artist retreat oozes charm & character throughout featuring: natural wood beam and tongue & groove wood ceilings, classic kitchen, a cozy space yet has sizable rooms with great flow & views from EVERY ROOM. It's the perfect home to enjoy your morning coffee while watching the sunrise & admiring the natural beauty of the MATURE desert landscaped grounds (the diverse mature plants/vegetation are PRICELESS). This is truly a property to be admired and to create your personal PARADISE & don't forget it is located on Paradise Way in THE COVE. (This is one of the original homes built in the upper cove and is situated on one of the PREMIUM estate-like lots).

1 bedroom 1 bath

Approx 758 SF

Lot size 18,731 (HUGE)
Offered at $122,760

For more information, please call me at 760-285-8559

Paul Kaplan

www.MidCenturyModernPS.com

Free Things to do in Palm Springs

Sat, 13 Jun 2009 11:52:19 -0500

1. Take a hike - Southern California's most breathtaking scenery and tallest mountain ranges... The Coachella Valley Hiking Club 760-345-6234, Desert Trails Hiking Club 760-340-2256

2. Ride your bike - Palm Springs has miles of well-marked and maintained trails. Pick up a map at the Leisure Center, 401 S. Pavilion Way, 760-323-8274 or at the Official Visitor Center - 800-347-7746

3. Visit Villagefest - Every Thursday night from 6-10 PM October - May 7-10PM June-Sept. Downtown Palm Canyon Drive becomes an old fashioned street fair, with musicians, food, arts and crafts vendros, and a Farmers Market. Between Amado and Baristo Road.

4. Have a picnic- Ruth Hardy Park, Sunrise Park and Demeuth Park offer pleasant, shady spots to picnic, complete with tables, barbecures, and playground equipment.

5. Village Gallery Walk - You can spend the afternoon gallery hopping and enjoying fine art, sculptures, and unique boutiques on Palm Canyon Drive. Check out the local papers for the frequent art fairs held in Frances Stevens Park and Sunrise Park.

Take a driving tour of Palm Springs' mid-century neighborhood, Racquet Club Road Estates

Fri, 12 Jun 2009 11:35:13 -0500

Please enjoy a windsheild tour of the Racquet Club Road Estates neighborhood in Palm springs. This development was built by the Alexander Construction Company, with homes designed by William Krisel, AIA, from 1959 to 1963. This tour features the variety of homes available in this area as well as a brief history. Enjoy!

Paul Kaplan

www.MidCenturyModernPS.com

760-285-8559

Pacific Union Real Estate, Palm Springs, CA

Are you eligible for the First Time Homebuyer credit?

Thu, 11 Jun 2009 13:36:15 -0500

Here are some FAQ's regarding qualifying for the $8000 tax credit when you purchase your home:

Who is a "First-Time Homebuyer"?

You are considered a first-time homebuyer if you (or your spouse) have not owned a principal residence during the three year period ending on the date of purchase.

What property is eligible?

All principal residences within the United States are eligible. This includes single-family attached and detached homes, manufactured homes, and houseboats. The definition of principal residence is identical to the definition under the $250,000/$500,000 capital gain exclusion rules.

When must you purchase your home?

You must close the purchase before December 1, 2009. If you build the home you are treated as having purchased it on the date you first occupy it.

How much is the credit?

2009 purchase: Lesser of 10% of the home's purchase price or $8000.

When is the credit claimed?

2009 purchase: 2008 or 2009 tax return. You can purchase in 2009 and take the credit on your 2008 taxes. You can amend your 2008 return to do this if you have already filed.

Is an unused credit refundable?

Yes, any unused credit is refundable, even if you have little or no federal income tax liability to offset. Wouldn't that be a nice check to get?

Isn't the credit just an interest free loan? Won't I have to repay it?

No repayment.

What other situations would require me to repay the credit?

2009 purchase: Entire credit amount must be repaid if home ceases to be your principal residence within the thirty-six month period beginning on the purchase date.

--If you sell the home, convert it to business or rental property, or the home is destroyed or condemned and not replaced within two years, you'll have to repay at least part of the credit claimed.
--Repayment will not exceed the profit on sale, if sold to an unrelated person.
--The spouse receiving the home in a divorce settlement is responsible for any repayment.
--Repayment is not required if you die. Now there's a tax plan.

Are there income limits to claiming the credit?

--Full credit available for single and head-of-household taxpayers with modified adjusted gross income (MAGI) below $75,000 (Married Filing Joint (MFJ) is $150,000).
--No credit if MAGI exceeds $95,000/$170,000.
--Maximum available credit phases out between $75,000 and $95,000 single and $150,000 and $170,000 MFJ.

How do I claim the credit?

New IRS Form 5405 is used to claim the credit.

Anything else?

--If two or more unmarried individuals buy the home together, they can allocate the credit amongst the qualified first-time buyers using any reasonable method. For instance, non-qualified parents can help qualified children buy the home, and the qualified children would claim the credit.
--It is not yet clear how future job-related moves, foreclosures, divorces or other life events will effect the use of the credit.
--ALWAYS consult a qualified tax professional with any questions.

Thank you to Phil & Viola Wax - Hasson Company who posted this information in part, previously.

The Canadian dollar strengthens as more Canadians look to buy 2nd homes in Palm Springs

Wed, 10 Jun 2009 09:05:38 -0500

Canadian Buying Opportunities in the US

Smart Canadians have been flooding the Palm Springs market again, finding factors in their favor in acquiring Palm Springs properties: Canadians are experiencing favorable currency exchange rates and Palm Springs real estate prices have been at their lowest in years.

In order to help, we have put together a team of experienced experts to assist our Canadian neighbors with their purchases in the Palm Springs. We'll assist you with the entire process, providing the help and knowledge you need when you buy a home in Palm Springs:

Residential neighborhood experts- having worked in the Palm Springs market for over a decade, we can help you find the right neighborhood that meets your specific needs.
Help you with your financing options; providing lender counseling and pre-approvals
Information regarding property taxes and other particulars associated with owning in the US.
Property Management and Rental Management information and assistance

The following info will help educate Canadian buyers looking to purchase here in the US:

The Buying Process

Contact Paul Kaplan, a professional Licensed California Realtor, to help guide you through each step of the purchasing process and to find your Desert Home
Unless paying cash, get preapproved with a lender for financing the purchase of your property. Loans for Foreign Nationals (Most loan progams require 30% to 50% down for foreign investors.)
Search for properties. Paul will email you listings that fit your search criteria.
Prepare and submit an offer for your favorite property. Accompanying each offer will be an average good faith deposit of 3% of the purchase price.If your offer is accepted, Open Escrow to process the transaction.
Home inspection by licensed professional. You will be given a report itemizing the status of any deffective items discovered about the property. If unacceptable you can either negotiate to have the seller make repairs, or choose to cancel the contract. Inspections cost from $350+ depending on square footage.
Review title reports, all rules and restrictions, and Homeowner Association information (if applicable) regarding the property. If you do not accept these documents you may cancel the contract within specific time frames.
Proceed with purchase.
Sign loan documents, unless paying cash
Close escrow. Get Keys to your new vacation home!

The purchase process typically takes from 45 to 60 days to process. You don't have to be present at the time Escrow closes.

Additional information sources:

Exchange Rates

Loans for Foreign Nationals

Information regarding US Visas

To receive more information, please click here to contact Paul to start looking for your home in Palm Springs.

Paul Kaplan

www.PaulKaplanRealtor.com

760-285-8559

Pacific Union Real Estate

Palm Springs

Welcome to Palm Springs - brief travel log introducing Palm Springs

Wed, 10 Jun 2009 00:21:33 -0500

Here's a little travel log video about Palm Springs, introducing you to the many highlights of things to do in our little desert community! Its a little hotter this time of year then when this was taped... a little less snow on the mountains right now, but you get the idea! If you'd like more information on Palm Springs real estate, drop me a note, or visit my website at www.MidCenturyModernPS.com

A humorous look at house hunting!

Fri, 05 Jun 2009 10:07:19 -0500

Twitter: more information then you ever probably wanted to know!!

Fri, 05 Jun 2009 08:59:15 -0500

Here is the most complete list of Twitter-mania that I've found. I thought it might be useful for my fellow Active Rain friends who, like me, are just learning the ins and out to Twitter!!

Thank you to Lawrence Brand who posted this on his own Blog,http://twitter.com/mtgmantx

www.ifollowback.com You sign up on this website with the agreement that you will follow back at least 90% of those follow you.

www.tweetlater.com This is also another free service that allows you to automatically follow back those who follow you first. You can even send a direct message back to them automatically as well as several other features. There is a free and professional paid version.

HootSuite - You can manage multiple twitter accounts with this application. I have not personally used this one myself but plan to try it out. You can also schedule tweets, track clicks to your links (using HootSuite's ow.ly URL shortening service) and get an entire overview of each Twitter account with easy tab-based navigation.

TweetChannel - Confused by #hashtags in Twitter? You shouldn't be after reading this tutorial but if you'd like an easier way to send your tweets to a specific audience, you'll want to check out Tweet Channel, a simplified, user-friendly interface to working with hashtags. See the most popular channels as well as the newest created channels directly from the Tweet Channel website.

TweetCube - You can share audio, video or images with this. It's is a free file sharing service that lets you tweet larger files to your followers. Just a couple of clicks is all it takes to start sharing files through your TweetCube account.

Tweet2Tweet - What ARE they talking about? With Tweet2Tweet, you can see the @replies between any two people in just minutes. Keep up on any conversation instantly. Just enter both screen names on Tweet2Tweet to see the results in reverse chronological order (most recent entries first). This is a great tool for keeping track of conversations.

TwitterSnooze - With this tool you can temporarily "snooze" a "talkative" tweeter without having to un-follow them permanently. You can set the timeframe anywhere from a day to a month.

Twitterless - Helps you keep track of your followers. This can also be done by simply clicking on the ones you are following, if there is a direct connect, and then you know they are following you as well. This application does the same thing, only it's a little easier I think.

CoTweet - CoTweet lets multiple people at the same company manage their business Twitter accounts together while keeping tabs on their brand name and how it's being used. CoTweet can also be used to assign tasks to different departments and follow up on results and feedback.

OutTwit - Microsoft Outlook is an indispensible part of the day for many individuals, businesses and organizations. If you're like me, you probably have MS Outlook open all day. This application helps you keep up with all you're tweets without having to constantly go to the website and login etc. OutTwit's feature list is too numerous to list here, but suffice it to say that if you use Outlook, you can manage and post to your Twitter account directly from your Outlook interface. You can also track keywords and have the details sent to your email, even if you're not following the original tweeter. Just started using it myself and so far I am really liking it.

TweeTake - TweeTake lets you backup your entire Twitter account into a .CSV file (commonly opened with Microsoft Excel). Back up your tweets, followers and people you're following in just a few minutes. If you have lost followers in the past, this is a must have.

Twitt(url)y - Twitt(url)y lets you instantly see what people are tweeting about and linking to. Track the hot trends instantly. A great source for possible blog entries and new followers since you can see who tweeted or re-tweeted the link as well as the URLs they used. You can also see how often the link was tweeted in a certain timeframe.

TweetWheel - You can see which of your Twitter friends know each other! For large follower base, this will take some time to load (depending on your connection speed) and only does the last 100 followers. I think of this more as a "fun" tool rather than a necessity. It's interesting to see who's following who and just how short the "degrees of separation" are between your followers.

TweetValue - How much is your Twitter account worth? As a sample, Barack Obama's account is worth over $40,000 and Darren's is worth $3,372. Don't ask me how they come up with the values, just another novelty type application.

TwitterGrader - How do you rank on Twitter? Check out your Twitter "grade" out of 100.

Twitter Clients

TweetDeck
Sleek Adobe Air desktop client for Twitter offering a good overview with several panes.

twhirl | the social software client
One of the more popular Twitter clients.

Spaz: An Open-Source Twitter Client for Mac OS X, Windows and Linux
Cross platform open source Twitter client.

Hahlo
Web based iPhone (and iPod Touch) optimized Twitter app.

Twinkle - New iPhone Twitter Client Uses Locate Me Features! | Just Another iPhone Blog
Twitter client for the iPhone that allows you to socialize with people near you. Great for conferences it seems.

Twobile: A Twitter client for Windows Mobile - Download Squad
Twitter client for Windows mobile powered mobile phones. Most smartphones other than iPhone, Blackberry and Google Phone use Widows Mobile.

Misc. Twitter Tools

Twellow :: Twitter Search Directory, Twitter Search Engine
Twellow is the "Yellow Pages" of Twitter.

iTweet 2 : Web
This is an alternative web based interface for Twitter and indeed it's a little more usable than the default one, for instance it offers one click retweets and makes bio links clickable etc.

TwitterCounter: How popular is @photojojo
This is a Twitter followers counter similar to the Feedburner count for blog subscribers.

Magpie: Make Money on Twitter
Magpie is an ad-network for Twitter. It boast that users can make something like 50 to 200$ a month just by tweeting.

About crowdstatus :: Crowdstatus.com
This tool allows you to create address groups of people at Twitter and notify all of them at once.

Twitter WordPress Plugins

Twitter for WordPress - Rick's HideOut
Very basic but unobtrusive way of including your Tweets in your WordPress blog.

Wordpress Twitter Widget
Clean and simple Twitter widget for the WordPress sidebar.

WP to Twitter | Joe Dolson Accessible Web Design
Twitter updater plugin using the Cli.gs short URL service for tweeting your posts.

Adnan`s Crazy Blogging World » Blog Archive » My blog gets twitterized
Basic and quite ugly but very popular Twitter plugin many bloggers use, even TechCrunch.

AJAX Twitter plugin for Wordpress
Advanced AJAX powered widget for your blog not only displaying tweets but letting you send updates from your blog.

Twitter Updater » Fireside Media Development Blog
This tool lets you tweet your blog posts automatically.

Firefox Extensions for Twitter

TwitterFox - naan studio
A popular Twitter Firefox add on. This notifies you of friend tweets.

TwitBin - twitter your browser - twitbin.com
This is a firefox extentions that allows you to keep up with all your Twitter conversations right from your browser sidebar. You can send messages, receive messages, share links, and more.

TwitKit
Another Twitter Firefox client with more features though.

TwitterBar :: Firefox Add-ons
Let's you post from the address bar of your browser.

Twitter Social News

Twitturly - Real-time Link Tracking on Twitter
Digg-like interface for the currently hot tweets.

MicroBlogBuzzes of the last 24 hours
Shows you what's most popular today, this week etc. on Twitter and across the other common microblogging platforms.

Twitturls - Popular Twitter Links Tweeted err Twittered err Twhatever
Shows the latest and most popular links on Twitter.

ReadBurner: What's Shared on the Web
Lets you monitor the buzz around Twitter elsewhere among many other memes.

POPrl.com / Shrinking popular URLs since 1973 / What's POPular
Short URL service like TinyURL but better. Offers not only stats but also a Digg-like interface for the most popular URLs shared.

Twitter Analytics

TweetStats :: Graphin' Your Stats
This statistic tool measures everything from when you tweet (weekdays, time of day) to who your real friends are by counting how often you address people.

Twitstat.com - Twitter Analytics
Both a Twitter search engine and popularity stats at the same time (e.g: showing most active users).

Twitterverse
A Twitter keyword tag cloud for quick overview on what's going on.

Twist - see trends in twitter
Twist allows you to quickly view and compare popularity trends on Twitter. It's similar to Google Trends.

FriendOrFollow.com - Who's not following you back? Who aren't you following?
This tool compares your list of friends with your followers and shows you who does not follow you back.

Twitter Twerp Scan
Gives you a quick overview about your followers so that you don't have to click each one.

HOPE YOU FOUND THIS HELPFUL! And don't forget, you can follow me on Twitter at http;//twitter.com/midcenturyps

Thank you to Lawrence Brand who posted this on his own Blog,http://twitter.com/mtgmantx

Palm Springs Restaurant Week- great deals on meals!

Wed, 03 Jun 2009 12:29:59 -0500

The Palm Springs Restaurant week is in full force thru Jun 9th.

Restaurant Week is a culinary celebration featuring restaurants from the entire Valley from Palm Springs to Indio!

Participating restaurants are offering a three-course menu at the fixed price of either $24 or $36 per person (tax, beverages and gratuity are not included).

Don't miss this exciting opportunity to experience some of the best restaurants the desert has to offer. Restaurant Week is the perfect time to visit your favorite restaurant or try something new, as chefs prepare delicious three-course meals for your dining pleasure at a fixed price.

Some of my favorite restaurants are participating, such as Wangs, Blue Coyote, Riccios, Oceans 111. Its a good opportunity to try out some of the restaurants at great prices.

ENJOY!

Here's the link: http://www.palmspringsrestaurantweek.com/

Win the fight for REOs/FORECLOSURE Bidding wars

Tue, 02 Jun 2009 17:41:17 -0500

In the last few months, it seems like whenever a well priced bank owned/foreclosure home comes on the market, there's a fight between multiple buyers bidding on the property. Thus, you need to be prepared if you want to have a chance at winning one of these great deals away from the other buyers.

HERE'S HOW YOU CAN WIN THE FIGHT FOR REO/FORECLOSURES!

Follow this list of 5 things you need to do to be prepared to write the most competitive and best offer possible on REO/Foreclosure properties:

Get preapproved and have your preapproval letter with you. This way you'll know what you can afford. It lets the selling bank know that you are already approved and can buy the property in question. Click here if you need a lender.
Have current bank statements and your check book. Most banks are asking for proof of funds up-front with the offer. You'll need a check book to write your deposit
Be prepared to go over asking price. When you see a listing that is priced way under market, you can be sure that someone else is probably willing to pay full price for the property. If you really want the home, you will have to come in even higher. With multiple offers, some banks will give everybody the chance to come in with a " Best and Final " offer, but not always. Sometimes, your first offer is the only chance you have.
Use a Realtor that has multiple experience with REO properties, listen to their advice. Most likely, the Realtor will use their experience to help you with the offer.
Eliminate extras. If you expect multiple offers, don't ask for home warranties, temite work, closing costs, etc. The more you ask for, the less chance you have of getting your offer accepted.

Following these steps, will help you be competitive when you're in a bidding war for REO/Foreclosures.

If you're interested in REO/FORECLOSURES in the Palm Springs, area, click here for more information.

I have learned a lot in the past few years, helping multiple clients with REO/Foreclosure purchases since this wave started. I've established strong professional bonds with many of the local REO banks and listing agents.

Let me share how I can help you as well with the purchase of your next home. Click here and tell me how I can help you.

Paul Kaplan

www.PaulKaplanRealtor.com

760-285-8559

Pacific Union GMAC Real Estate

Palm Springs, CA 92262