Please stop by and see me this Sunday at 799 Orizaba Avenue in Long Beach. I'll be holding an open house at this classic Spanish style home across the street from Rose Park and refreshments will be served! Listed at $449,000, the home offers 2 bedrooms plus a parlor, with a total of 1400 square feet. This is a rare opportunity to own a home across the street from this historic neighborhood's namesake park.
If you'd like to take a virtual tour in the meantime, visit our website at http://www.ShowMeHome.com or call 562-961-1415.
It's official. The tax credit for first-time homebuyers was extended today. President Obama signed leglislation that extends the $8,000 tax credit to contracts that are signed by April 30, 2010 and closed by June 30th. The credit was set to expire after November 30th. Additionally, the bill creates a $6,500 credit for those who buy a home after living in their current house at least five years. The current credit defines a first-time homebuyer as someone who has not owned a residence within the past three years. The credit will be available only for the purchase of principal residences priced at $800,000 or less.
The bill will raise the adjusted gross income cap to$125,000 for single filers and $225,000 for joint filers. The amount of the credit currently begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.
The IRS reported that through mid-September, 1.4 million tax returns had qualified for the credit. Some portion of those returns represents buyers who took advantage of an earlier version of the tax credit, which was only worth $7,500 and has to be repaid over time. The National Association of Realtors estimates that 1.8 million homebuyers will have used the credit by the end of November -- at least 355,000 of whom would not have bought a home without the tax break.
Locally, I've seen a number of buyers drawn into the market due to the homebuyer credit combined with low interest rates and prices. The low inventory is still making it challenging for home buyers to get offers accepted, but for those who persevere, there are some good deals.
As the deadline for the $8,000 tax credit for qualifying first-time homebuyers gets closer, it looks like lawmakers may extend it until next year. A measure is being seriously discussed on Capitol Hill.
In our local real estate market, the credit has definitely breathed life into a struggling housing market. While most people wouldn't buy a home solely because they'd get a credit, that combined with low interest rates and low prices has drawn lots of buyers off the fence and into the market.
The tax credit extension has received support from both Republicans and Democrats but the measure still has not come to a vote.
Despite a lingering dispute over a planned Carson-area high school, Los Angeles school representatives and local elected officials donned hard hats and grins Thursday to break ground on the campus.
The Carson High School drill team and marching band performed, as did first-graders from neighboring Dominguez Elementary School, while construction workers operated heavy machinery at the nearby building site.
Heavy discounting on foreclosed homes and low interest rates continued to power a homebuying spree across the West in September, sending sales of existing homes in the region soaring at an annual pace reminiscent of the days of the housing boom, according to two reports Friday.
About 100,000 existing homes and condos were sold last month in the 13-state region. Without adjusting for seasonal factors, sales were up nearly 43 percent from the same month last year, but declined 9.6 percent versus August's total, according to the National Association of Realtors.
With sharply discounted foreclosures making up a larger slice of overall sales, the median price in the West plunged almost 19 percent from a year ago to $253,600 - slightly higher than what the median was five years ago, the association said.
DailyBreeze.com By Melissa Pamer, Staff Writer October 26, 2008
Among the dozens of red-tile rooftops that now dot Rancho Palos Verdes' Long Point, workers are beginning to put the finishing touches on a massive seaside resort that has finally taken shape in recent months.
After more than a decade of planning, Terranea Resort is readying for its June debut, when all elements of the upscale pleasure dome are set to open simultaneously - including a 360-room hotel, 33 meeting rooms, 20 bungalows, 82 casitas and villas, a nine-hole golf course, three restaurants and a spa.
The California Foreclosure Institute is holding a free, two-hour workshop for investors and Realtors on how to get started finding and buying foreclosure properties on Tuesday.
The workshop from 6:30 to 8:30 p.m. is at Long Beach Main Library, 101 Pacific Ave. Reservations required. To register, go to www.ForeclosureWorkshop.net or call 310-379-0101
Los Angeles Times By Michael A. Hiltzik October 27, 2008
In a harbinger of what may be a flood of similar disclosures, City National Bank in Beverly Hills said Sunday that it would receive a $395-million capital infusion from the U.S. Treasury as part of the government's $250-billion bailout program.
The bank said it had no "explicit or implicit understanding" with federal regulators about how it would use the money -- whether to increase lending in the community or acquire a specific bank.
But Russell Goldsmith, chief executive of the bank's parent company, City National Corp., said the investment "clearly enhances our financial capacity to make acquisitions and . . . to lend to a larger degree."
With $12.2 billion in deposits, City National is the largest bank based in Los Angeles County and second-largest independent bank in California.
2 Bedrooms, 1 Baths Detached Single Family Home. 867 Sq. Ft. one story 4680 Sq. Ft. Lot Built in 1931 Association Dues: 0 2 Car Garage.
Property Features
Tile Floors
Arched Doorway To Formal Dining
Coved Ceilings
Ceiling Fan
Original Built In Cabinet In Dining Room
Faux Firelplace
Custom Paiting
Fenced Front Yard
Covered Patio
Bonus Room In Garage
Long Driveway
Lush Landscaping
Property Details
Adorable Spanish style home features tiled floors, coved ceilings, custom paint, and lots of charm! Large living room plus quaint formal dining room with built-in corner cabinet. Newer kitchen has lots of storage and cabinet space. Fenced front yard with lush landscaping plus a nice back yard with covered patio. 2 car garage currently used as bonus room with separate laundry room but a long driveway provides plenty of parking. Don't miss this Lovely home!
For More Information Contact:
The Shannon Jones Team Web Site:www.shannon4re.com E-Mail:info@showmehome.com (562) 961-1415 (562) 896-2456 Cell: (562) 896-2456 Keller Williams Coastal Prop.
2 Bedrooms, 2 Baths Detached Single Family Home. 964 Sq. Ft. one story 3840 Sq. Ft. Lot Built in 1919 Association Dues: 0 2 Car Garage.
Property Features
Open Floor Plan
Wood Laminate Floors
Remodeled Eat-in Kitchen
Stainless Stell Appliances
Remodeled Bathrooms
Front Porch
Newly Landscaped Backyard
Central Air & Heat
Updated Plumbing & Electrical
Inside Laundry
2 Car Detached Garage
Property Details
Past the old-fashioned front porch of this California bungalow is a modern, re-built home with open floor plan & wood laminate floors. The remodeled, eat-in kitchen features stainless steel appliances & custom tile. The home has spacious bedrooms & remodeled bathrooms. This home offers inside laundry, central air and heat, dual pane windows & updated plumbing/electrical. The fenced back yard has a patio w/built-in barbecue and has been newly landscaped. Walk to shops & restaurants.
For More Information Contact:
The Shannon Jones Team Web Site:www.shannon4re.com E-Mail:info@showmehome.com (562) 961-1415 (562) 896-2456 Cell: (562) 896-2456 Keller Williams Coastal Prop.
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