October 25th, 2007
Potentail homebuyers in Oakley, Brentwood and Discovery Bay seem to be waiting for the bottom to occur. Most people are looking for bargins and dont want to spend more than they have to but there are a few things to consider. First is nobody knows when the bottom is until it has passed and things are going up again. One way to look at it is that if you find your dream home now and plan on being in it for more than say 5 years now is an excellent time to buy. Second if interest rates go up, the cost of your loan may offset any savings that are realized by waiting much longer. So the bottom line is with inventory at record high levels a home buyer can find their dream home, get an excellent deal and sit back and ride out the storm. For more information or a booklet for homebuyers contact “Team Elite” at 925 392-4131
October 22nd, 2007
Listings in the East County have been remaining steady through the early and middle part of October. There are currently 1214 Homes for sale in Antioch. Brentwood has 627 homes available. Oakley has 375 and Discovery Bay,Byron,Knightson,Bethel Island have 244. These numbers reflect they same amount of listings that were on the market at the end of September. Prices continue to be soft and this remains a buyers market. For more information about East County homes call “Team Elite” at 392-4131
October 17th, 2007
Real property is gaining popularity as one way to diversify retirement portfolios with investments beyond the traditional mutual funds and stocks. Of course like all asset options, Real Estate has both advantages and disadvantages. Here are some of the basics you’ll want to consider before taking this option.
Advantages; Diversification. Buying Real Estate is one way to diversify a portfolio that primarily holds stocks, bonds and mutual funds. Tax Benifets. An IRA may offer certain tax advantages including tax deductions for IRA contributions and deferred taxation of gains on appreciation (as always consult a tax accountant to determine you tax status).
Diadvantages; Mortgage interest is not deductable for Real Estate held in an IRA. Potetially higher tax rate. If the stream of income requires payment of unrelated business taxable income, the trust tax may be higher than the individual rate. For a copy of this complete article, or more information contact “Team Elite” at 925 392-4131
October 10th, 2007
Megan’s Law and Real Estate: How to Research Your New Neighborhood for Sex Offenders in the Area
When you are looking at a new house, one of the last things you want to think about is the possibility of sex offenders living in the neighborhood. Unfortunately, if you have children, plan to have children in the future, or have children visit your home, you need to know if they will be safe.
What is Megan’s Law?
Megan’s Law requires all convicted sex offenders to register with the local law enforcement agency and keep them updated of any change in their address. While there is always a chance that a sex offender will fail to register, this system is the best and most comprehensive means of knowing the whereabouts of convicted sex offenders at all time.
When you are thinking about purchasing a home, it is certainly in your best interest to find out about the presence of convicted sex offenders in an area before you enter into a sales contract. Once you enter into a purchase agreement with a buyer, you have no leeway to change your mind and will lose any deposit that you made on a home if you decide to back out of the purchase because you later become aware of sex offenders in the neighborhood.
How to Check for Local Sex Offenders
A great deal of information about convicted sex offenders is available online. In California, for example, the sex offender registry can be found at http://www.meganslaw.ca.gov/. You can get information about the presence of sex offenders in the neighborhoods where you are thinking about purchasing property.
The information provides you with name, last known address, date of conviction, offenses, and when the offender registered. It allows you to see how serious the offense is and if it involved someone in particular age groups such as under twelve, twelve to fifteen, or between sixteen and seventeen or even between adults where rape was involved. Though the law’s intentions are to protect children, making sex offenders register helps protect more of the population from these acts of violence toward both children and adults.
If you prefer in-person contact instead of using your computer to research this subject for your new neighborhood, you can begin your search with the local law enforcement agencies in the areas you are thinking about purchasing your new home. Each area may have a different place for you to obtain the information, but if you check with the local police department, they can provide you with the information or advise you where you need to go in order to get what you need.
Research Paired with Good Judgment is Key
If you have several areas in mind, you may want to check on all of them, so that you can make a decision about the one that may be the safest. Keep in mind that you may not find a neighborhood that is completely free of sex offenders, so you may need to look at the charges and decide the best course of action. You can also inquire of the neighbors to see if they are aware that the person lives there and see if they have ever had any problems with him in regards to their children or children who came to visit.
Content contributed by Castle Pines real estate specialists in Colorado, Automated Homefinder.
October 10th, 2007
Homeowners must understand certain things about Short sales if they are going to sell their home this way. Two of the most important things a homeowner must know is that in order to sell short the homeowner can not have any assets that can be liquidated to pay the shortfall. The homeowner must be in a truly distressed situation before the bank would even consider forgiving debt. Also the homeowner must understand that any losses the bank takes is considered income to the homeowner and will be taxed as such. For more information on short sales call “TEAM ELITE” at 925 392-4131