Mewborn Team Real Estate Consultants: CoastalLuxurySanDiego.com

August 24th, 2009

Carlsbad Real Estate For Sale – Is a Rent To Own Right For You?

Categories: Buyers, Carlsbad, Foreclosure Prevention, Home Loans, La Costa, Oceanside, Real Estate FAQ, San Marcos, Sellers

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 »

Posted by Mike and Amy Mewborn// Please leave a comment.

August 5th, 2009

La Costa Real Estate For Sale – First Time Buyer Credit To End SOON

Categories: Buyers, Real Estate FAQ, Relocation

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.

Tags: Carlsbad Buyer Credit, La Costa First Time Buyer Credit, La Costa Real Estate

Posted by Mike and Amy Mewborn// Please leave a comment.

July 15th, 2009

Carlsbad FAQ – Five CRUCIAL Things to Know About The First Time Buyer Credit!

Categories: Buyers, Home Loans, Interest Rates, Real Estate FAQ, Relocation

1. The federal tax credit is 10% of the home’s purchase price (up to a maximum of $8,000). 

2. 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. 
3. 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 »

Tags: Carlsbad First Time Buyer Credit, La Costa First Time Buyer Credit, Oceanside First Time Buyer Credit

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June 24th, 2009

Carlsbad FAQ – What’s The Difference Between a Short Sale and a Foreclosure?

Categories: Foreclosure Prevention, Real Estate FAQ, Sellers

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 »

Tags: Carlsbad Foreclosure, Carlsbad Short Sale, La Costa Foreclosure, La Costa Short Sale

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June 18th, 2009

The Worst Year of Your Life?

Categories: Buyers, Market Trends, Real Estate FAQ, Sellers

As a San Deigo real estate agent, there is just no way to really prepare a client for something that can be the longest, most frustrating process they have ever experienced!

First let me tell you what a short sale is.  To put it most simply – a short sale is a lender allowing a property to be sold for less than is owed on it (due to a lower property value).  The home owner has normally missed a payment or two, and negotiates with the bank to sell the home for less than is owed to avoid a full foreclosure.
Read the rest of this entry »

Tags: Carlsbad real estate, San Diego Real Estate

Posted by Mike and Amy Mewborn// Please leave a comment.