The California Association of Realtors® went on record in opposition to a California government plan to further tax home buyers and sellers. Senate Bill 1220, which imposed a transfer tax to generate funds for affordable housing has been amended. SB 1220 would have created a real estate transfer tax of $75 per document to fund…
Author Archives: Michael Sebastian
What is Mello-Roos?
One of the more misunderstood terms in home ownership is “Mello-Roos Taxes”. I’m often asked why some properties include these special taxes and others do not. This article will give you a bit of history and the reasons that some properties require payment of “Mello-Roos Taxes”. Mello-Roos refers to “Special” Tax Districts. Senator Henry…
Posted in News Leave a comment
10 Common Errors Home Owners Make When Filing Taxes
10 Common Errors Home Owners Make When Filing Taxes By: G. M. Filisko Published: January 5, 2012 Don’t rouse the IRS or pay more taxes than necessary — know the score on each home tax deduction and credit. Sin #1: Deducting the wrong year for property taxes You take a tax deduction for property taxes in the…
Posted in News Leave a comment
Spring Cleaning Checklist
With springtime at our doorstep, take the time to polish your home to perfection. 1. Let the sun in. Make any room look brighter with clean blinds and windows. Mix a solution of one part white vinegar to eight parts water, plus a drop or two of liquid dishwashing liquid, for a green window…
Posted in Real Estate News Leave a comment
January 2011 California Sales Wrap-up
Pending home sales were up 13.6 percent in California from December to January, with distressed properties accounting for more than half of pending transactions, according to a new index compiled by the CALIFORNIA ASSOCIATION OF REALTORS®. C.A.R.’s pending home sales index surveys more than 70 REALTOR® associations and multiple listing services, and uses 2008 sales…
Common Ways of Holding Title
One of the most common questions asked by real estate buyers is how the title to their property should be held. There are a number of different ways to hold property title-each with different legal consequences. It’s advisable before closing to ask for legal financial or tax advice about which of the following methods of…
Posted in Real Estate News Leave a comment
Fed Gvt Increases Oversight on HAMP Loan Mods
The Federal Government has stepped up efforts to complete home mortgage modifications under it’s banner HAMP program. This initiative, a part of the Obama stimulus program began in February 2009. The comprehensive Financial Stability Plan intended to address the key problems at the heart of the Country’s economic downfall. A critical piece of that…
Posted in Real Estate News Leave a comment
Cherish Your Freedom? Thank a Military Veteran
On November 18, 1918, an armistice, or temporary cessation of hostilities, was declared between the Allied nations and Germany in the First World War, known than as “the Great War.” Commemorated as Armistice Day starting the following year, November 11th became a legal federal holiday in the United States in 1938. In the aftermath of…
Posted in Real Estate News Leave a comment
New Federal Rules May Speed Up Short Sales
http://www.latimes.com/business/realestate/la-fi-harney-20120429,0,7718386.story Original Post Date: April 29, 2012 By: June Fletcher WASHINGTON — If you’re one of the estimated 11 million homeowners burdened with an underwater mortgage, a new federal policy change could be good news: Starting in June, when you want to do a short sale to shed your mortgage and avoid foreclosure, you may…