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Archive for the 'Real Estate FAQ' Category
September 9th, 2009
Three Important Tips For Buying Carlsbad Real Estate In Today’s Market
1. Clean Up Your Credit Before You Start Looking
Carlsbad home loans and interest rates are all dependent on your credit score. The higher your score, the more programs that are available to you. In today’s market, a score of over 700 is advisable for the best home loans
2. Don’t buy Carlsbad real estate unless you can afford to stay put.
Although property values have been on the upswing in La Costa and Carlsbad, there are still concerns about a coming wave of foreclosures. We may have seen Carlsbad property values at their bottom, but that is still unknown. Don’t buy Carlsbad real estate hoping to flip it quickly at a profit. Now isn’t the time to take that kind of risk! Read the rest of this entry »
August 31st, 2009
Have You Reduced Your Carlsbad Property Taxes?
Your Carlsbad property values have probably fallen over 20% in the past two years. You know it. We know it. The San Diego County Assessor knows it. But they don’t reduce your Carlsbad property tax bill without you contacting them to reduce it! Even though you may have missed the May 2009 deadline for property tax reduction, the San Diego County Assessor is giving you another opportunity to reduce your property taxes – through a property tax appeal.
What To Do Next:
1. Fill out the San Diego County Assessor’s form.
2. Provide all the necessary documentation – current Carlsbad property tax bill, opinion of new value, and your Carlsbad neighborhood comparables (back up of opinion of value). Please contact us at (858) 205-2000 for your comparable values. Please be prepared to provide your name, address, email address, home square footage, and number of bedrooms and baths.
3. Mail to the San Diego County Assessor.
Upon completion, mail your forms to:
Clerk of the Board of Supervisors
Assessment Appeals Services
1600 Pacific Coast Highway Room 402
San Diego, CA 92101
Please contact The Mewborn Team for more information.
August 25th, 2009
Time Running Out For First Time Buyer Credit!!!!
Carlsbad, CA – If you are a Carlsbad, La Costa, Oceanside, or San Marcos buyer who was hoping to take advantage of the first time home buyer’s tax credit – YOU BETTER HURRY! We are finding a number of things in the current market place:
1. The tax credit expires on December 1st, 2009. That means all real estate purchases have to be CLOSED before then. You can not still be in escrow. Read the rest of this entry »
August 24th, 2009
Carlsbad Real Estate For Sale – Is a Rent To Own Right For You?
Carlsbad, CA – With Carlsbad real estate buyers scarce and Carlsbad mortgages tight, some home sellers are offering rent-to-own options to potential buyers in place of your traditional transaction.
Rent-to-own contracts, usually require buyers to pay a premium on each month’s rent and sometimes an up front fee/deposit of about 5% of the purchase price. The regular rent then goes in owner’s pocket (presumably to pay the mortgage), but the additional payments are used to buy down the price of the home. Read the rest of this entry »
August 5th, 2009
La Costa Real Estate For Sale – First Time Buyer Credit To End SOON
La Costa, Carlsbad, CA – The $8,000 first-time buyer tax credit program ends in at the end of the year. The rules state that purchase needs to be completed and the house CLOSED by NOVEMBER 30th in order to receive the tax credit.
What is the first time buyer tax credit?
It is a tax refund for 10% the purchase price of a primary residence (up to $8K). If you do not use the entire $8,000 on your 2009 tax return , the remainder will be refunded directly to you.
Who is eligible to receive the credit?
First-time home buyers and those who have not owned a principal residence in the last three years prior to purchase.
Are there income limits?
Yes. The full amount is given to:
Individuals with adjusted gross income less than $75k
Married filing jointly with adjusted gross income less than $150K per year
There is a phase out between:
$75K and $95K for individuals
$150K and $170K for joint filers.
Because a normal real estate transaction takes between 40 and 60 days to close, TIME IS RUNNING OUT! A short sale may already be too late. If you want to discuss this further, contact us today.
July 15th, 2009
Carlsbad FAQ – Five CRUCIAL Things to Know About The First Time Buyer Credit!
- The federal tax credit is 10% of the home’s purchase price (up to a maximum of $8,000).
- First Time homebuyers purchasing any type of home as a primary residence between January 1, 2009 and December 31, 2009 are eligible for the credit.
- This credit differs from the July 2008 tax credit because the 2008 credit was essentially an interest free loan. This credit does not have to be repaid. Read the rest of this entry »
June 24th, 2009
Carlsbad FAQ – What’s The Difference Between a Short Sale and a Foreclosure?
Short sale – the sale of a property for less than is owed to the lender. The lender must agree to take less for the property. The current owner is involved in the sale of the property. Read the rest of this entry »
Mike & Amy Mewborn Real Estate Specialists
Mike: 858.205.2000
Amy:760.213.6653
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