Archive for April, 2009
Weekly Economic Update!
April 28th, 2009 categories: Money and Mortgages
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Weekly Economic Calendar For The Week of April 28 – May 1 |
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If you have any questions, please visit KPL for Mortgage updates or contact Kathy at: kathy@kathyvilla.com
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10 Tips To Selling Your Home in Los Angeles!
April 24th, 2009 categories: Sellers
A seller plays an important part in the sale of their property. When you take the below steps, you’ll sell your home faster and at the best price possible.
The easiest and most reliable way to improve the appeal of your home is to enlist a quality home service professional, ie) repainting, cleaning, organizing, etc.
Below are 10 Tips to selling your home:
- Make a good impression – keep your landscaping well-manicured, your house freshly painted. It’s important to have a well-maintained home
- Make room for space -potential buyers are looking for more than comfortable living space, they are also looking for storage space. Make sure your rooms are clean and your garage is tidy.
- Consider Your Closets -The better organized a closet, the larger it appears.
- Make your bathroom sparkle -Bathrooms need to have sparkle and shine, they can be a huge selling point. Check and repair damaged tubs or showers. For allure, place your best towels.
- Create beauty in the bedrooms - buyers react to nice/clean rooms. Colorful bedspreads and fresh curtains give the buyer a certain feeling of imagining themselves relaxing there.
- Open up in the daytime -keep all of your curtains back, so potential buyers can see how light and bright your home is.
- Lighten up at night – Have your lights on and sometimes candle light outside. Lights add color and warmth and make your home inviting.
- Relax – It’s best to not be there when potential buyers are coming to see your home, but if you must be there, be friendly.
- Think Volume - Although we love music, sometimes it’s distracting for potential buyers. It’s best to show a home with no music.
- Defer To Experience – If you are in the home when a potential buyers comes, it’s always best to have the agent talk price or any other real estate questions. Let them speak to your agent.
These are just a few helpful tips when getting ready to sell your home. If you are interested in Selling, please contact me at: kathy@kathyvilla.com
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6 Benefits Of Going Green!
April 22nd, 2009 categories: Buyers, Home Improvements and Design
Going green can be very beneficial. First, they are better for the environment & your family and second, they save you money over the life of your home.
Below you will find 6 benefits for Going Green:
- Appropriate insulation and air sealing will keep your heating/cooling costs lower, while efficient windows, appliances, lighting and other household equipment will lower your electricity bills
- Green homes are built with high-quality building materials so they are more durable and require fewer repairs
- Investing in a green home can now mean increased value in the future
- Going green is healthful! They use toxin-free building materials, utilize natural ventilation and have fewer problems with mold, mildew etc.
- Green homes use less energy than comparable standard homes. Green homes usually use alternate energy sources, which reduces dependency on conventional energy sources.
- Green building uses fewer natural resources and oftentimes materials used have recycled contents.
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More California Tax Credit Info!
April 21st, 2009 categories: Money and Mortgages
Once again there is good news for taxpayers! On February 20th, 2009, the California Senate Bill 15 passed. This bill provides for a tax credit against the net tax for a taxpayer who purchases a home that has NEVER been lived in. Below is a breakdown on how it works:
- The tax credit is good for 5% of the home’s price or $10,000, whichever is less.
- The home must be purchased between March 1st, 2009 and March 1st, 2010.
- The seller must provide a certification to the taxpayer and the Franchise Tax Board within 1 week of the sale that the residence has never been occupied.
- Home buyers will receive the tax credit, in equal amounts over 3 years.
- Not limited to first time home buyers !!!!
- No max income limitations
- No down payment requirement
- Must be the taxpayer’s primary residence
- If the home remains the taxpayers primary residence for 2 years, no portion of the tax credit has to be paid back.
- The $10,000 state tax credit can be used again with the federal tax credit of up to $8,000 for 1st time homebuyers for a total possible tax credit of $18,000.
- The tax credit is limited to the first 10,000 new home purchases.
This information was provided by KPL. If you have any questions, please contact KPL or email me at: kathy@kathyvilla.com
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Los Angeles – A Buyer’s Checklist! Read Below!
April 15th, 2009 categories: Buyers
One of the most important things you can do when buying a home is make a checklist. It is important to have a game-plan. A checklist will greatly increase your chances of finding exactly what you are looking for. Below is a House Buying Checklist:
- Be an informed buyer. Keep yourself up-to-date on the real estate market – read this blog and any other articles on the Internet.
- When buying a home, its important to have all of the information, attached is a first home guide- it has a check-list, Mortgage info, finance info, etc.
- Learn about the Mortgage Process. We suggest you talk to our Mortgage expert, Justin Bayle or for some simple questions go to: Mortgage Questions
- Get a free copy of your credit report. You can find this at: consumerInfo.
- Are you curious about how much time is needed to buy a home, if so, check out: homebuying timeline.
- Find an Agent – email me for more information at: kathy@kathyvilla.com
- Determine your Wants/Needs – it is important to know what you are looking for. ie) # of bedrooms, a pool, a house in a good school district.
- Once you establish your Wants/Needs and you find a house, you will write an Offer.
- Next step is to negotiate – This is what your real estate agent will be doing on your behalf.
- Once you are in escrow on your home, the real estate agent will set up home inspections.
- You will then be preparing for closing.
- Here is a check list for moving.
- Then you will have your final walk-through of the property.
- Finally, you will be able to move in.
If you are interested in buying, please call me at: 310-777-6352 or email me at: kathy@kathyvilla.com.
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Top 8 Reasons To Have A Real Estate Agent Help Sell Your Home!
April 13th, 2009 categories: Sellers
There are many reasons why you should hire a Real Estate Agent to help sell your home, but below are my Top 8 reasons:
- A real estate agent is professionally trained to guarantee that the sale of your house proceeds effortlessly.
- A real estate agent can help negotiate with potential buyers and their agents in your place. Your agent acts on your instruction and tells you about offers made.
- A real estate agent may have a special showing of your home for other agents. Those agents will see your house with a professional eye with their clients in mind.
- A real estate agent regularly talks to other agents. Word of mouth is a very effective way of finding buyers.
- A real estate agent can provide you with referrals of qualified home inspectors and contractors should your home need additional repairs.
- A seasoned real estate agent can help you get your house ready for sale, point out housing-code or zoning violations and suggest improvements to help your house sell.
- A real estate agent has access to the MLS. The MLS is a database of current homes for sale. By hiring an agent, information about your home will be instantly available to all agents using the MLS.
- A real estate agent knows the real estate in your area, has access to the data about recent sales in your neighborhood and can help price your home accurately.
If you are interested in selling your house, please contact me at: kathy@kathyvilla.com.
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Top Ten Things To Know Before Buying A Home
April 8th, 2009 categories: Buyers
Buying a home is one of the most important things you will do in your lifetime. It is the place you will begin your life, start a family and oftentimes raise that family. Below are the 10 Ten things to know before you buy a home:
- Don’t buy if you can’t stay put
- Start by shoring up your credit
- Aim for a home you can really afford
- If you can’t put down the usual 20%, you may still qualify for a loan
- Buy in a district with good schools
- Get professional help
- Choose carefully between points and rate
- Before house hunting, get pre-approved!
- Do your homework before bidding
- Hire a home inspector
For details on the above, please go to: Lessons In Buying A Home or email me to discuss your options at: kathy@kathyvilla.com
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Is The Real Estate Market In Recovery? Good News!
April 7th, 2009 categories: Buyers
According to the National Association of Realtors, housing reports which were released March 2009 are stating that the real estate market is indeed in recovery mode. The market is beginning to shift with a combination of low mortgage rates and the $8,000 tax credit given to first-time buyers who purchase before Dec. 1, 2009
Also, the housing reports have shown an increase in sales for single-family homes, resale homes and new homes. According the an article for CKG, home prices have risen for the first time in 10 months.
For the full article on the Real Estate Market recovery, see below:
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Beverly Hills – Weekend Weather Update
April 3rd, 2009 categories: Kathy's Corner
I always like knowing what the weather will be for my weekend, so below you’ll have the forecast for the weekend ahead! Whether you’re planning on looking at houses or would like to go on a hike, it’s essential to know what to wear. If you are in fact looking at houses right now, Sunday is the perfect day. There are so many opportunities for today’s buyers with all-time low interest rates and some great opportunities for making great deals, this weekend seems to have all of the elements!
Weekend Forecast for Beverly Hills Area:
- Friday – Partly cloudy/Wind -63 degrees/48 degrees
- Saturday – Sunny! – 69 degrees/50 degrees
- Sunday – Sunny! -72 degrees/51 degrees
For a full 10 day weather update, please go to: Weather update!
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Los Angeles- Tax Lien Relief – Read Below For More Information!
April 1st, 2009 categories: Buyers
A new tax lien relief plan for homeowners has been announced by the IRS. The IRS recently stated that they will speed up the process of providing relief from federal tax liens for troubled homeowners. This announcement should help Realtors and their clients resolve federal tax lien issues in their sales and loan transactions.
Below is a quote the California Association of Realtors:
A Homeowner seeking to sell or refinance their property must generally pay off an existing federal tax lien. However, during the current economic downturn, many homeowners don’t have the cash or equity to do so. Hence, for a refinance, the homeowner may request that the IRS makes its tax lien subordinate, or secondary, to the lien of the refinancing lender. For a sale, the homeowner may, under certain circumstances, request that the IRS discharge its claim. The IRS’s processing time for subordination or discharge requests has been about 30 days. The IRS currently is working to expedite that time frame to help distressed homeowners.
For instructions on requesting relief, please go to: www.irs.gov or you can contact me at kathy@kathyvilla.com with any questions you may have.
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