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Family Fire Safety

December 19, 2013 in Tips, Uncategorized - Leave a Comment
Family Fire Safety

FEMA reports that each year more than 2,500 people die and 12,600 are injured in home fires in the United States, with direct property loss due to home fires estimated at $7.3 billion annually. Most home fires can be prevented. Here are some ways to prevent fires.

  1. Install smoke alarms outside of every bedroom and on every level of your home. It should be properly installed and maintained. According to the National Fire Protection Association, almost two-thirds of home fire deaths resulted from fires in properties without working smoke alarms.
  2. Never overload circuits or extension cords, electrical fires could result. Inspect outlets and power cords on a regular basis.
  3. Chimneys should be inspected annually.
  4. When using space heaters, allow enough room between the device and items such as clothing or flammable liquids.
  5. Do not leave pans on an open flame unsupervised, most residential fires begin in kitchens.
  6. If you must smoke, do it outdoors. Cigars and cigarettes common culprits of fires.
  7. Instead of standard candles, consider flameless, they provide the same functions, but are a lot safer.

Visit www.fema.gov for more information.

The Pros/Cons of Condo Living

December 17, 2013 in Buyers, Sellers, Tips - Leave a Comment
The Pros/Cons of Condo Living

Condo living can have its perks. However, when contemplating the purchase of a condo instead of a house, it’s important to weigh both the pros and cons. Here are some factors to consider.

Cons:

  1. Close quarters. If privacy is important to you, maybe condo living isn’t for you. Neighbors are often right across the hall or on the other side of a wall. Unlike a single-family dwelling that may offer trees and a perimeter fence for privacy, expect to share space with others.
  2. Association fees. A monthly fee, independent of your mortgage, goes towards the upkeep of the property. When considering a purchase, it is crucial to factor these fees into your overall budget.
  3. Resale value. When it comes time to move, if there are a lot of units available in your building, expect fierce competition.
  4. Rules and regulations. Unlike a home, condo owners are subject to rules and regulations, and suffer financial or legal consequences for violations. Frequently there are restrictions on renovations, noise and even the size of pets that are permitted.

Pros:

  1. Repairs. Any maintenance or repairs in your building are not your responsibility. Don’t worry about the torn shingles, leaking roof or broken furnace, your association fees will cover it.
  2. Security. Many condos offer extra security, such as a doorman and gated entries. Also, with so many neighbors, help is never far away.
  3. Added perks. Some complexes offer amenities that are out of reach to many homeowners, such as a clubhouse, fitness center or a community pool.

This information is courtesy of Century 21 life@home newsletter.

5 Ways to Save on Moving Costs

December 12, 2013 in Tips - Leave a Comment
5 Ways to Save on Moving Costs

There is no reason for you to overpay when it comes to making your next move. Here are some tips that may keep moving costs down.

  1. Lighten your load. Moving companies frequently charge by the weight of your cargo and the number of trucks required. Eliminate anything you rarely use. Measure your furniture and determine if your new space will accommodate the items BEFORE moving. You’d be surprised how much you can make with a yard sale or the value of a tax deduction for donated items.
  2. It never hurts to ask. If you are moving due to business, ask your employer if they cover any of the costs. Often businesses offer employees an incentive to move, such as a lump sum to put towards moving costs.
  3. Uncle Sam can help. Save all moving expense receipts. The government may offer tax breaks if your move fits certain criteria.
  4. Hire the right movers. Shop around before hiring a moving company. Get at least three different bids on your job to compare prices. Companies typically charge more on the weekends and in the summer months, so if possible, be flexible with your dates.
  5. Don’t pay for supplies. When it comes to buying boxes and bubble wrap, it adds up. Visit local liquor stores, bookstores and grocery stores and ask for any unused boxes and containers. Instead of Styrofoam peanuts and bubble wrap, which are harmful to the environment, use bath and dish towels to pad your items instead.

This information is courtesy of Century 21 life@home newsletter.

Negotiate your way into your dream home.

December 9, 2013 in Buyers, Uncategorized - Leave a Comment
Negotiate your way into your dream home.

Whether you are buying your first home or looking to downsize after retirement, negotiation skills are crucial in getting what you want. Here are some tips for homebuyers trying to negotiate with sellers.

  1. It is always advisable for buyers to get preapproved, not just prequalified. Pre-approved buyers have an edge over potential buyers who have only prequalified for a loan. Preapproval means the buyer has attained a conditional commitment in writing for an exact loan amount from a lender. This saves time and a quick closing may be appealing to a seller.
  2. Do your homework before you make an offer. Confer with your qualified real estate agent to decide how much a property is worth. After researching comparables, crime statistics, local schools and considering the length of time the property has been on the market-make an educated and realistic offer. If you come to negotiations with facts to back up your offer, the seller may be more willing to meet your price.
  3. Find out the seller’s motivation. Do your due diligence when it comes to finding out as much as you can about why the home is for sale. If a property is vacant, perhaps the owners are anxious to unload the property. It is important the sellers see a human face on the other end of the sale. This may work in your favor, though be careful not to over share with the sellers, exposing your motivation or finances.

Feel free to give us a call at 510.969.2848 if you have any questions about buying a home.

This information is courtesy of Century 21 life@home newsletter.

To sell or to rent? That is the question.

December 5, 2013 in Sellers - Leave a Comment
To sell or to rent? That is the question.

The reasons for selling a home are as numerous as properties themselves. Some homeowners may decide to rent their property instead of selling. Here are some pros and cons to consider when deciding to rent or sell your home and don’t forget to consult a financial expert and tax advisor.

Rental pros:

  1. Waiting game. In the case of a buyer’s market, renting your home may buy you some time until you can sell your property for a better price.
  2. Cash and equity. Rental income may cover all of your ownership costs, and may even make you a monthly profit, while you are building equity.
  3. Exemptions. Talk to your tax advisor about whether you are eligible for tax breaks from your rental income and expenses related to home improvements.
  4. Flexibility. If you are reluctant to sell your home, renting it out allows you to retain ownership.

Rental cons:

  1. Beck and call. You are the landlord. Be prepared to handle all of your renter’s household questions and problems, no matter what time of day or night.
  2. Bad renters. Even with the most thorough of background checks (which cost money) renters can damage your property.
  3. Insufficient funds. Sometimes, the income from your renters is not enough to cover the expenses. Taxes, mortgage, and insurance fees can sometimes exceed the amount you can charge your renters.
  4. Legal ramifications. If you have particularly challenging tenants and need the courts to get involved, it could be a time consuming and costly process.

This information is courtesy of Century 21 life@home newsletter.

Safety rules for your teenager when they’re home alone.

December 3, 2013 in Tips, Uncategorized - Leave a Comment
Safety rules for your teenager when they’re home alone.

Whether your teenager is home alone after school until you get home from work or even briefly while you run errands, here are some safety tips that may help keep them safe.

  1. Stay connected. Keep in touch with your child and check in regularly through Skype, FaceTime or by cell phone.
  2. Practice makes perfect. Practice what to do in the case of an emergency BEFORE leaving your teenager alone. This includes what to do in case of a fire or medical emergency.
  3. Ground rules. Set a list of guidelines for your teenager so he/she knows exactly what is expected of him/her.
  4. Backup plan. Ask a trusted relative or neighbor to regularly check in with your teenager. You can also appeal to your local police for added vigilance of your home.
  5. Keep it quiet. Make sure your teenager does not announce that he or she is home alone on social media.
  6. Knowledge is power. Teach your teenager how to use your home alarm system.
  7. Double check. Make sure all smoke detectors and carbon monoxide detectors are working properly and refresh the batteries.

This information is courtesy of Century 21 life@home newsletter.

6 Tax Facts Every Home Owner Should Know

July 24, 2013 in How to, Real Estate News, Uncategorized - Leave a Comment
6 Tax Facts Every Home Owner Should Know

6 Tax Facts from the IRS

Most home owners are well aware of the tax advantages of home ownership. But, make sure you know the rules before selling your home. Here are 6 facts published by the IRS you should keep in mind:

  1. If you’ve owned and lived in your home for two of the five years prior to selling it, you can generally exclude up to $250,000 of capital gains ($500,000 on a joint return in most cases).
  2. You are not eligible for this exclusion if you sold another principal residence within the past two years and excluded the allowable gain from your income.
  3. If you can exclude ALL of the gain from the sale of your primary residence, you don’t need to report the sale on your tax return.
  4. If you have a gain on your principal residence that exceeds the allowable deduction, it is taxable.
  5. You can’t deduct a loss from the sale of your primary residence.
  6. Special rules may apply when you sell a home for which you’ve received the first-time home buyer credit. (See IRS publication 523, “Selling Your Home,”  for details.)

Can a Property Taxe Base Transfer Help You?

If you are interested in selling your current home and buying another one, you should explore if you can take advantage of a Property Tax Base Transfer (especially if you are 55 years or age or older or if you are permanently disabled) The property tax base transfer is an option where by your County may allow you to sell your home and then purchase another home (subject to purchase price limits and limited to the homes being located in participating Counties) and transfer your existing property tax base. This could be a significant savings you can take advantage of.

Is now the right time for you to sell? Property values in Castro Valley are on the rise. Take a look at our latest Neighborhood Sales Report for more information.

Feel free to contact us today. We would be happy to explore your options and answer any questions for you.

Castro Valley: What has your home done for you lately?

July 17, 2013 in Real Estate News, Uncategorized - 2 Comments
Castro Valley: What has your home done for you lately?

Looking at recent sales data, it is clear that home values in Castro Valley are on the rise for the first time in years.  The median sale price during the second quarter of this year was $593,423, an increase of over 11% from the median price of $534, 900 just 3 months earlier. If we look at the last 12 months, the median sale price is up 27%. While gains like these are outstanding, they are even more impressive when you consider that most of the gain may be tax free if you lived in that home as your main residence for 2 of the last 5 years!

Even if you are not considering a move right now, knowing your home’s current value is still important. If you’re like most people, the home you live in is the largest asset you have. The fact that it is also the place where you and your family spend most of your time makes it even more important to know its worth. There are several reasons why you should keep up-to-date on your home’s value:

  • Refinance: Reduce your monthly expenses by refinancing your loan.
  • HELOC: Use a Home Equity Line of Credit to finance desired upgrades.
  • Peace of mind: Know exactly where you stand financially.

A proper valuation arms you with information on your home and your financial position. Feel free to contact us with any questions.

*Home prices based on information from Bay East Association of Realtors

Neighborhood Sales Report – April – June 2013

July 12, 2013 in Neighborhood Reports - Leave a Comment

Castro Valley home values have increased by 27% over the last 12 months.

So, how much is your home worth? When determining your home’s value, websites like Zillow and Trulia are a good place to start, but do not take into account the things that make your home special.

  • Have you made upgrades that increase your home’s value?
  • How close is your home to neighborhood amenities?
  • What unique features make your home standout?
  • How does the size, topography and landscaping compare to other homes?

You need a professional realtor to help you determine your home’s value. We will give you a free, professional valuation for your home. There will be no high-pressure sales tactics, no hidden commitments.

Matrix of recent home sales.

Interesting Fact: How QE affects you as a homeowner.

Ever wonder how you are directly affected by decisions made in Washington? The fact is, the implementation of QE has helped the Real Estate market stabilize and recover. The acronym QE is short for Quantitative Easing and is the name used to describe the action taken by The Federal Reserve to buy Mortgage Backed Securities and Federal Bonds. The net effect has been a significant drop in interest rates. The fall in interest rates means more buyers are qualifying to purchase homes and home prices are rising as a result. If you have been considering selling your home given the current market conditions and the significant lack of inventory now is the best time to explore your options.

Feel free to contact us with any questions.

 

6 Tips to Make Your Home Green (and save some green!).

January 2, 2013 in Tips, Uncategorized - Leave a Comment
6 Tips to Make Your Home Green (and save some green!).

A home is a big purchase and every new homeowner knows that every dollar counts. Here are some simple ideas that are both kind to the environment and your wallet.

  1. Purchase a high-efficiency showerhead. This cuts down on both water consumption and energy costs.
  2. Upgrading your appliances? Consider energy-efficient appliances with the ‘Energy Star’ logo. According to the Energy Star site, Energy Star-qualified appliances use 10%-50% less energy and water than standard models. Remember to ask about discounts, especially when purchasing several appliances at once.
  3. Get with the program. Set your thermostat to accommodate the schedule of your home. Lower the heat during the day when no one is at home and at night when occupants are sleeping. Also, try to maintain a moderate temperature, instead of cranking the heat or air conditioning to drastically change the temperature.
  4. Utilize fans instead of air conditioning. Consider operating fans to circulate the summer air instead of opting for the more expensive and less environmentally friendly air conditioning.
  5. Insulate and seal the gaps. Hidden gaps and cracks within a home lead to an abundant loss of heat in the winter and air conditioning in the warmer months. Caulk any leaks around windows and doors, in attics and around fireplaces. Proper insulation installation or roof replacement may be necessary.
  6. Replace lights with LED or compact fluorescent bulbs. The cost is more upfront, but the lights use less energy and last longer.

This information is courtesy of Century 21 life@home newsletter.