• Feb. 5, 2010 - Will Baby Boomers Lead Housing Industry Toward Recovery?
Will Baby Boomers Lead Housing Industry Toward Recovery?
[1]RISMEDIA,
February 5, 2010—(MCT)—Baby boomer buyers fueled a big run-up in
U.S. home construction and sales in the 1970s and 1980s. Now beleaguered homebuilders
say they’re hoping aging boomers, who are just entering retirement age,
will once again give them robust housing sales.
“We believe this segment of the market is going to lead the housing
industry toward recovery as the market turns around,” said Sharon Dworkin
Bell, a senior staff vice president of the National Association of Home
Builders.
The 55-plus home buyer is being targeted by builders all over the country
and was a focus of the industry’s annual conference recently in Las
Vegas. The numbers are certainly there. By 2014, a quarter of the U.S.
population—more than 85 million people—will be 55 or older.
“The number of people in that age group is increasing, and there is a lot
of promise out there,” builders’ association economist David Crowe
said recently.
While more than 60% of 55-plus homeowners say they want to keep their
current homes, the rest say they are interested in alternatives. Builders
anticipate that buyers in this age group will account for almost 270,000 house
purchases by next year. Even in the down market, some 55-plus buyers move and
downsize.
“The good news is they usually have a lot of home equity and can get a
mortgage,” Crowe said. “The bad news is they have to sell a
house.” That worked out for Hunter and Judy Whitney, who sold their home
in Pennsylvania just before the housing market took a downturn. The couple,
both in their 60s, moved into a new house in Del Webb’s Frisco Lakes
development in Frisco, Texas, two years ago. “When we decided to retire and
relocate, we decided on the Dallas area,” Hunter said. “Two of our
three kids and six of our eight grandkids live in the area.”
Moving closer to family is one of the top reasons 55-plus buyers move. The
Whitney’s were wowed by the age-restricted Frisco development. “We
looked at a lot of places—the new construction,” he said.
“This is more than buying a house. You end up with a sense of
community.” “We are one of the few places in North Texas still
selling a ton of homes,” said Mike Sander, divisional sales manager with
Del Webb owner Pulte Homes. “We get a lot of out-of-state
residents—probably 30-40%. Most of the buyers are in their early 60s,
Sander said. “About 30-40% of our residents still work in some
fashion,” he said. “But they want to downsize and get into a nice
neighborhood.”
Former Plano, Texas, resident Jim Boyd and his wife downsized twice before
moving into a 1,505-square-foot Frisco Lakes home in 2006. “It was at the
time in our lives we had begun to consider something other than a traditional
single-family dwelling,” said Boyd. “We liked the quality and
variety of the community.”
More than 75% of 55-plus buyers say they want a home in the suburbs. But
that doesn’t mean they want a big house. Surveys show older buyers are
more frugal about housing needs. “The 55-plus buyers are not interested
in growing their house size,” Crowe said. “They are asking for
about a 1,900-square-foot home” on average. “They’re worried
about energy costs.” Most older homebuyers surveyed are holding down
their cost expectations, industry research shows. “When we asked the
consumer, ‘What are you willing to pay?’ they said $190,000,”
Crowe said. “And when we asked the builders, ‘What are you building
for this market?’ they said $287,000. “Obviously, there’s a
real big problem there.”
Indeed, builders say they are in a quandary over what kind of housing to
produce for 55-plus buyers. “The baby boomers are absolutely
unpredictable,” said Andy White, a South Carolina developer. “There
is no model to say what we ought to build. If a consultant comes to you and
says they know what to build, they are lying,” said White, whose company
has been building developments targeted to older adults since the 1980s.
White said there are many risks for builders who might design the wrong
product in the wrong place. “Let’s give it a few years and see what
happens when the leading edge of the baby boomers reaches 70 years old, which
is in 2016,” he said.
Builders who aim at older buyers agree that it’s a tougher sell with
the recessions and housing market crash. “Don’t assume at all that
everyone over 55 is looking for a luxury purchase or has unlimited funds to
spend,” said Atlanta builder Jim Chapman. “Their existing homes are
worth less,” he said. “Some of them are afraid to put their homes
on the market.” Many of these buyers are coming from nearby. “They
still want to go to the same shopping centers and see their friends,”
Chapman said. “The others are moving from out of the area to be near
their children.”
Builders who market age-restricted projects to older adults say
they’ve seen an increase in demand for speculative houses. “They
are kind of flying off the shelf to people who have sold a home and are ready
to do business,” said Chris Harrison of Arizona-based Robson Communities.
“We are seeing more activity,” Harrison said. “Texas for us
did not have the big run-up in home pricing seen in other areas of the
country.”
(c) 2010, The Dallas Morning News.
Distributed by McClatchy-Tribune Information Services.
• Feb. 5, 2010 - Real Estate Issues Top 2009 List of Requests for Legal Services
Real Estate Issues Top 2009 List of Requests for Legal Services
RISMEDIA, February 5, 2010—Real estate-related issues were
the leading legal service request among members (customers) of Pre-Paid Legal
Services, Inc. during 2009 followed by 2) consumer finance, 3) family law, 4)
collections and 5) estate planning. The top five legal service requests for
2009 is based on the total volume of 2.3 million member requests for legal
services to the 40 independent provider law firms that assisted Pre-Paid Legal
members throughout the U.S. and four provinces of Canada for calendar year 2009.
“The PPD legal service request list offers a unique perspective on the
legal issues that Americans and Canadians face on a daily basis,” said
Pre-Paid Legal’s Founder and CEO Harland C. Stonecipher. “Because
these members have a Pre-Paid Legal plan, they have access to affordable legal
service to help them manage issues such as foreclosure, credit issues,
collections and other life events,” he said.
Of the total 2009 requests for legal services, the top five requests account
for approximately 45% or approximately 1.1 million of the total requests. The
remaining 1.2 million requests were for a variety of other legal services such
as traffic-related matters, employment issues and civil litigation.
By category, the top five legal service requests include:
Real Estate, Landlord/Tenant Issues and Foreclosure -
Approximately 358,000 requests for legal services that include residential and
commercial real estate transactions, landlord and tenant issues and legal
counsel related to foreclosure and short sales
Consumer Finance - Approximately 195,000 requests for legal
services related to retail transactions for warranties, guarantees and other
contracts
Family Law – Approximately 193,000 requests for legal
services related to divorce, child support, child custody and child visitation
Collections – Approximately 162,000 requests for
legal assistance to support members against other parties and to defend members
from third-party debt collectors
Estate Planning – Approximately 160,000 requests for
legal services for preparation of wills and other counsel related to final
estates
Daniel F. Mantzaris, a partner with Orlando, Florida-based deBeaubien,
Knight, Simmons, Mantzaris & Neal, LLP (www.dbksmn.com
[1]), believes that many individuals who face these common legal
issues do not understand the implications of the legal issue nor their options
for resolution.
“I can’t emphasize enough the value of early involvement by an
attorney in legal matters such as those identified in this top five list of
service requests,” Mantzaris said. “As provider attorneys, we work
with our Pre-Paid Legal members to help them understand their situation and
determine the best legal option to address that particular issue.”
Charles E. Davis, Managing Partner and Co-Founder of Mesa, Arizona-based
Davis Miles, PLLC (www.davismiles.com [2]),
said, “These 2.3 million requests for legal services represent the tip of
the iceberg when it comes to the public need for access to affordable, routine
legal services. Too often, people with common problems like foreclosure, credit
or collection issues wait too long to deal with these issues. A preemptive
approach sometimes saves a lot of money and much anguish and heartache.”
Never
heard of USDA? Well you’re not alone. The USDA Rural Home Loan Program
was started back in 1991! Due to limited Lender participation, low income
requirements, and poor marketing, the Program was seldom used in California. In
2009 USDA enacted changes that made millions of Home Buyers eligible for their
rural mortgage program. With increased income limits, lower mortgage rates, and
enhanced Lender support, USDA funded over $10 billion in 2009. 2010 total
should be much higher.
The
USDA Program was created to help low to moderate income families buy homes in
designated rural areas of the country. This Government Program allows the buyer
to finance 100% of the purchase price of the home, eliminating the need for any
money down.
The
USDA offers a low 30 year fixed rate without the requirement of Mortgage
Insurance (PMI). So even without a down payment, the buyer will have a lower
payment than FHA or Conventional financing.
***Example***
FHA
USDA
Sales Price
$
300,000
Sales Price $
300,000
Down Payment $
10,500
Down Payment
$ 0.00
PITI @ 5%
$2,131.90
PITI @ 5%
$2,060.17
The Rural Program offers
flexible, common sense underwriting guidelines, relaxed credit requirements,
and DOES NOT HAVE A 90 DAY FLIP RULE!
The
Seller is allowed to cover all of the Buyers cost’s, there is no limit
like FHA or Conventional, so the buyer is able to move in to their new home
without any money at all. If the appraised value is higher than the sales price
the closing costs can be rolled into the loan amount!
There
is no maximum sales price, but there are income limits per county based upon
family size.
American
Financial Network is a Direct Lender of the USDA Rural Program, we Originate,
Process, Underwrite, and Fund in house. We do not have to Broker out the file and
wait weeks for an answer. We are committed to closing your transaction quickly
and on time.
For
guidelines and for more information please call, email, or visit our website at
www.usdaprogram.com .
Approximately
90% of San Diego County does qualify for USDA financing, copy and paste this
link and it will take you to the map that outlines the eligible areas. You can
zoom in or type in an address to check if a home qualifies. The yellow colored
areas qualify!
• Feb. 4, 2010 - McCormack Auction Co - Stuffed Bagel Auction Scheduled For Thursday is Postponed
February 3, 2010
Upcoming
Auctions
Stuffed
Bagel Auction Postponed..
Sorry for the
inconvenience -
Please
check website for new date and time
McCormack
Auction Co.
743
El Cajon Blvd, El Cajon 92020
619-447-1196
Family
owned and operated since 1976.
This
message was sent from Jason Hanks to jskardos@cox.net. It was sent from:
McCormack Auction, 743 El Cajon Blvd, El Cajon, CA 92020. You can
modify/update your subscription via the link below.
• Feb. 4, 2010 - Foreclosures Take Heavy Toll on Hearts and Minds
Foreclosures Take Heavy Toll on Hearts and Minds
[1]RISMEDIA, February 4,
2010—(MCT)—Ethelda Lopez, a retired telephone company worker
recently watched as her dream retirement home was auctioned off on the lawn
outside a county courthouse in downtown Merced, California. “When I heard
my address, it was so disheartening,” she said. “It’s amazing
how it all works.”
For six months, she had made hundreds of calls to her mortgage company,
federal officials, local political leaders—begging them all for lower
payments or more time. No one paid heed. Wracked with depression and anxiety,
she was too ashamed to tell her friends that she was losing her sprawling
stucco-and-stone ranch home in the Atwater countryside.
Merced County ranked first in California for foreclosure filings in 2009,
and sixth among counties nationwide, the national firm RealtyTrac reported
recently. One in seven homes in this county of 250,000 people has been
foreclosed on since September 2006, according to Foreclosure Radar, a
California reporting service.
Over and over, residents caught up in the foreclosure
crisis—homeowners, renters, even Realtors—report that they are
suffering from stress or depression and are sometimes too ashamed to reach out
for help. This is the hidden human fallout of foreclosure.
Thousands of new homes like Lopez’s sprouted from farmland countywide
in the past five years. Merced was gearing up for a bright new future as a
college hub. Optimistic developers dreamt of throngs of buyers paying $300,000
and more so that they could raise their children in neat stucco homes along
tranquil cul-de-sacs. But the dream crumbled, and so did the peace-of-mind that
home ownership is supposed to guarantee. Now, many homeowners are caught up in
a nightmare, trying to figure out how to pay mortgages on dwellings worth a fraction
of what they owe—or whether they should give up the dream and move on.
The drama plays out on the courthouse lawn like clockwork, Monday through
Friday, at 12:30 and 3 p.m., when Realtors and investors bid for foreclosed
homes like Lopez’s. The crisis shows no signs of abating. In November
2009, one in five Merced County homeowners was 90 days or more delinquent in
payments, according to another service, First American CoreLogic. What the
statistics don’t show is the human toll. Debt-wracked residents are
suffering from anxiety, sleeplessness and depression in a universe gone
sideways. Clinically, their suffering may not qualify as PTSD, the
psychological state felt by soldiers, cops, first-responders and others after a
traumatic experience. But far too many are in sad shape. Some are reaching out
for help. At Merced-area health care clinics, workers report an increase in
residents experiencing mental distress, and in the seriousness of their
symptoms. Many new patients are homeowners or renters fearful of losing their
homes and all the stability that a home provides, they say.
Many more feel so much shame about their financial and emotional distress
that they shut themselves off, too fearful to ask for help. Entire families
suffer as stress radiates from debt-plagued parents to their frightened
children. “The trickle-down of this is big. Kids have stomach aches. They
don’t want to go to school. Then you find out they’ve just moved in
with someone else, their parents are about to lose their homes, they’re
having trouble paying the mortgage,” said Elizabeth Morrison, clinical
director of behavioral health at Golden Valley Health Centers, a network of 25
nonprofit community clinics and eight dental sites serving the Merced area.
School leaders are concerned, too. In the Merced Union High School District,
which covers students in all of Merced, Atwater and Livingston, 613 students,
or 7%, reported this year that they were “doubled-up” with another
family in a single-family home. At Atwater High School, the number was 12%.
Some residents fear they soon will have no home at all.
For residents on the verge of losing their homes, knowing that their
neighbors and friends are in the same straits may or may not be reassuring. The
stigma of foreclosure and bankruptcy may sting less here because so many people
are struggling. But jobs remain scarce, and that, coupled with the high
foreclosure rate, may make residents even more pessimistic, said Jim McDiarmid,
director of behavioral sciences at the Mercy family medical residency program.
(c) 2010, Merced Sun-Star (Merced, Calif.).
Distributed by McClatchy-Tribune Information Services.
Overall ranking, based on vacancies, rental rates and investor interest.
Metro area (2009 ranking in parentheses)
Washington, D.C. (1)
San Diego (6)
New York (8)
Minneapolis-St. Paul
(3)
Philadelphia (2)
New Jersey (5)
Orange County (13)
Boston (4)
San Francisco (17)
San Jose (18)
Source: Marcus & Millichap
San Diego County’s apartment market ranks second nationally after
Washington, D.C., in its outlook for stability and possible growth in 2010,
according to Marcus & Millichap’s annual apartment report covering
44 metro areas. Two other reports came to the same conclusion: San
Diego’s rental market is on the way up.
“With property performance expected to be steady throughout much of
the metro area, investment activity will likely pick up this year,”
said Kent Williams, regional manager of the real estate investment services
firm’s San Diego office.
The company said twice as many apartments will be completed this year
compared with last year, to 1,100 from 541. Vacancies will rise 0.2 of a
percentage point to 5.4 percent, an improvement from the 1.1 percentage point
increase last year. The average monthly rent, after concessions and
discounts, also is expected to rise, by 0.1 percent to $1,250.
Aaron Bove, an apartment expert at Marcus & Millichap, said the
outlook for complexes will vary depending on location and quality.
Middle-market complexes, charging an average of $950 to $1,200 for
two-bedroom units, are likely to fare best. Bove also said investors favor
coastal areas.
One factor that may push vacancies down, the company said, is the arrival
this spring of the aircraft carrier Carl Vinson. Its shipboard crew of 3,200
will be home-ported in San Diego, “providing a boost to rental housing
demand.”
With the carrier Nimitz also returning this spring and joining the Ronald
Reagan, which is in port for maintenance, the military demand on the
apartment market is likely to increase occupancies at least until the Nimitz
relocates for repairs in the Northwest, a Navy spokesman said.
Bove said he could not estimate how many more military households will
seek local housing off the base. But he said it is common for landlords to
hear from military tenants in certain areas.
Asked why vacancies should go up at a time of rising demand, Bove said
supply is being boosted as many formerly owner-occupied condos and foreclosed
houses become rentals. Also, some renters are doubling up or moving in with
relatives.
“They say the economy is getting better, but talk to the person out
there right now and see whether that’s the truth,” he said.
Still, he said, San Diego is better off than most metro areas, as Marcus
& Millichap’s national apartment index indicates.
“San Diego has been one of the first markets to go into the
downturn, and we see signs of San Diego being one of the first to come
out,” Bove said.
Seconding that prediction was Sarah Bridge, owner of RealFacts, a Novato
company that monitors 37 apartment markets around the country and 24 in
California. While some areas, such as Phoenix and Las Vegas, are classified
as “code red,” meaning apartment vacancies are rising rapidly
despite deeply discounted rents, she said San Diego is on the mend.
“San Diego is poised for recovery unless something really goes wrong
in the economy, and we are all going to have another big drop,” Bridge
said.
In its report on the apartment market, RealFacts listed San Diego’s
average rent at $1,357 in the fourth quarter, down 1.5 percent from the third
quarter and off 2.8 percent year over year. Its 5.7 percent vacancy rate for
the quarter was down from 6 percent in the third quarter but up 0.4 percent
year over year. It was one of 12 areas to see a quarterly decrease
nationally, and it tied with San Jose and Oxnard in having the lowest vacancy
rate.
The company’s San Diego findings were based on a survey of 438
properties holding 98,892 units.
In a third report on apartments, Cushman & Wakefield, using figures
from locally based MarketPointe Realty Advisors, said prospects are looking
positive this year for San Diego.
“As the economy recovers and new jobs are created, the San Diego
apartment market will be a key beneficiary,” the company said.
It said the buying of apartment complexes began slowly in 2009 with little
or no institutional investor interest. The average sales price per apartment
unit sank to $115,770, down from $172,000 in 2005. But as San Diego’s
prospects brightened, it appeared on many must-buy lists of portfolio managers.
“This is creating a more competitive sales process and more
aggressive pricing,” Cushman & Wakefield said. “In 2010 we
will continue to see significant demand for multifamily properties.”
Find this article at:
http://www.signonsandiego.com/news/2010/feb/04/apartment-activity-is-on-upswing
• Feb. 3, 2010 - McCormack Auction Co - February 2010 Auctions - Short Notice Pavilion Sale Online Only - This Week
February 2, 2010
Upcoming
Auctions
Pavilion
Sale
Bidding Ends
This Thursday!!!
Online
Auction
First
Lot ends Thursday February 4th, 2010 @ 10:30AM
Preview is
Wednesday February 3rd, 2010 from Noon - 4:00PM
2776
Sweetwater Springs Blvd - Spring Valley, CA 91977
Late Model
Bobcat 463 (241 Hrs) Like New, Dump Trailer, 2002 Harley V Rod, 2000 Lexus LS400, 1999 Ford Explorer, 1987 Mercedes 560SL, 1990 Cargo Van,
***Electric Company Supplies and Tools, Misc Hand Tools, Over 50 Bins
of Shop Clothing (shirts, pants, Lab Coats, etc), Over 30 Pallets of
Flagstone and other rock, Emglo Compressors, Python Plasma Cutter,
Engine Repair Tools, File Cabinets, Kitchen Chairs and Tables, And lots more...
• Feb. 3, 2010 - Tax Breaks 101: New Deductions and Credits to Stimulate Economy
Tax Breaks 101: New Deductions and Credits to Stimulate Economy
RISMEDIA, February 3, 2010—(MCT)—This may be the tax
season where even die-hard do-it-yourselfers break down and hire a preparer or
at the very least invest in some tax software.
Taxes are more complicated than usual with all the new deductions and
credits created last year to stimulate the economy. And in some instances,
Congress went back to revise and expand the tax breaks. The popular home buyer
credit, for instance, is on its third version.
“You can’t just sit down with last year’s return and make
sure you fill in the same lines and think you got everything coming to
you,” says Harris Abrams, a senior tax analyst with Thomson
Reuter’s Tax & Accounting.
Fortunately, many of the new tax breaks are credits, which are better than a
deduction because they reduce your bottom-line tax bill dollar-for-dollar. So
before you fill out your return, here’s a refresher on some of the key
tax breaks this season:
Donations to Haiti
If you made a charitable donation for earthquake relief in Haiti, you can
deduct it on your 2009 itemized return instead of waiting until next year. This
applies to cash gifts—not clothes or other property—made by check,
text message or credit cards before March 1, 2010. As usual, donations must go
to qualified charities, and you’ll need a receipt. For donations made via
text message, a phone bill with the name of the charity and details of the gift
will suffice.
Making work pay credit
This credit is worth up to $400 a year for singles and $800 for joint filers
within certain income limits. It was designed to put money quickly into
consumers’ hands by having employers reduce the amount of taxes withheld
in paychecks.
Even though you got some or all of the money last year, you will need to
fill out the new Schedule M if filing a Form 1040 or 1040A to officially claim
the credit.
That said, more than 15 million taxpayers are in for an ugly surprise,
according to an estimate by the Treasury Inspector General for Tax
Administration. Their refunds may be reduced or they might owe more in taxes
because their employers wound up taking out too little for taxes. This can
happen to workers with multiple jobs, two-income couples or dependents with
wages, says Melissa Labant, technical manager for the American Institute of
Certified Public Accountants. Something similar can happen to workers with
multiple employers reducing withholdings, Labant says. And dependents
don’t qualify for the credit, so they may have to make up for a shortfall
in tax withholdings, she says. The Making Work Pay credit is in effect for this
year, too. If you didn’t have enough taxes withheld last year, adjust
your W-4 now so your employer increases your tax withholdings.
Home buyer credit
Originally, the $8,000 credit was only for first-time home buyers. Now,
long-time homeowners can get a credit of up to $6,500 if they bought a new
principal residence after Nov. 6 and lived in their old homes for at least five
years in a row in the past eight years. The income limits for eligibility also
were raised late last year and the deadline extended. You now must have a house
under contract by the end of April, and close the deal by the end of June, and
you can claim the credit on your 2009 return. But you won’t be able to
file a return electronically when claiming the credit. Blame all the fraudulent
home buyer claims last year—that cost taxpayers millions of dollars. To
fight fraud, the IRS requires that you file a paper return and submit proof
that you bought a house. If you’re claiming the $6,500 credit,
you’ll need to document that you meet the five-year residency
requirement. The IRS will start processing these paper returns in mid-February,
and the earliest refunds will go out toward the end of March. If you
don’t provide full and accurate information, count on your refund taking
longer.
Car sales tax deduction
If you bought a new car, motorcycle or mobile home between Feb. 17 and the end
of 2009, you may be able to deduct the sales tax paid on the first $49,500 of
the purchase price. You don’t have to itemize to get this deduction. The
tax break starts phasing out once income hits $125,000 for singles and $250,000
for joint filers.
Energy credits
Congress expanded these for energy-conscious homeowners. For 2009 and this
year, claim a credit worth up to 30% of the cost—not to exceed $1,500
over the two years—of adding energy-efficient windows, doors, heaters,
air conditioners, water heaters and heating systems. Add a solar water heater,
wind turbine, geothermal heat pump, solar electric systems, and the credit is
worth 30% of the cost with no dollar limit.
Help for the unemployed
For 2009 only, you won’t have to pay income taxes on the first $2,400 of
unemployment benefits received. Also worth noting is the recent expansion of
the COBRA subsidy, although this isn’t a tax break. Uncle Sam has been
paying 65% of the health insurance premiums for unemployed workers buying
coverage under COBRA, the federal law that allows ex-employees to remain on an
old employer’s health plan for up to 18 months. This subsidy was recently
expanded by six months so unemployed workers can receive assistance for a total
of 15 months. It applies to workers who lost their jobs from Sept. 1, 2008,
through the end of next month.
Education credit
The $2,500 American Opportunity Tax Credit for higher education improves upon
the old Hope Scholarship credit. “For most people, it’s going to be
the credit of choice in the education area,” says Mark Luscombe,
principal tax analyst with CCH, publisher of tax information. The Opportunity
credit covers the first $2,000 spent on tuition, fees, books and required
materials, and 25% of the next $2,000 in expenses. You can claim it in any of
the first four years of college. And 40% of the credit is refundable, so if you
don’t owe any taxes you can get as much as $1,000 back in a refund. The
credit begins to disappear once income reaches $80,000 for singles and $160,000
for joint filers.
Boost your savings
For the first time, you will be able to direct the IRS to use all or part of
your refund to buy U.S. Savings Bonds. You can buy up to $5,000 worth of Series
I bonds designed as a hedge against inflation. The bonds, sold in multiples of
$50, will be mailed to you later. To buy the bonds or have the IRS split your
refund among different bank accounts, fill out Form 8888.
(c) 2010, The Baltimore Sun.
Distributed by McClatchy-Tribune Information Services.
12 cheap, effective ways to defend your home against burglaries and home
invasions
Follow these fundamental strategies and install some inexpensive
improvements to help fortify your home against trouble.
By Marilyn Lewis of MSN Real Estate
You can make your home a whole lot more secure for little to no money.
That’s because most of the best home protection simply involves smart
thinking and good habits.
1. Pick your location carefully. Location is a huge factor
in home security, so buy or rent in the best neighborhood you can afford. Real-estate agents
can help point you in the right direction but they can’t — at the
risk of committing housing discrimination — offer detailed guidance, so
you must do your own research before you move:
· For the big picture, find statistics online
(start with BestPlaces.net or Wikipedia). Make sure you’re looking at
recent data.
· City police departments are the source for
neighborhood-level crime statistics. The question is, will they share their
data with you? Some cities — Portland, Ore., is one — post
neighborhood crime stats online. Others will give the data if you phone the
police department or the office of the mayor or city council members. You can
also check with local newspapers.
· Finally, do your own sleuthing by spending
time in the neighborhoods that interest you. Look for bars on doors and windows
and alarm company signs in front of homes, giveaways to a troubled
neighborhood. Chat with business owners.
Knock on doors to ask neighbors about crime. If you’re renting, pick an
upper-floor unit (ground-floor apartments can be attacked more easily). Look
for on-site management and inspect the complex carefully, watching for damaged
doors that signal previous break-ins. Best is an apartment with kick-proof
metal door jambs rather than wood or a steel door.
2.Get smart. “First of all, use the
door locks that you already have,” advises Sgt. Dan Ryan, of the Palo
Alto, Calif., Police Department. People in friendly communities that are
generally safe may think they don’t need to lock their doors. That’s
a big mistake, Ryan says. Here are more strategies:
Make it a nightly routine to
check the locks. Involve children, too, says Chris McGoey, a security
expert and consultant who calls himself “The Crime Doctor.”
Don’t open the door
— and don’t let kids open the door — to uninvited
strangers.
Use your automatic garage
opener to close the garage door when you get home before exiting your car.
Stick around when people are
working in your home. Notice what they’re doing. Check after
they’ve left to ensure that nothing’s missing and that no one
has left a window or door unlocked as a way to break in later.
Door mats, flowerpots and
fake rocks are the first places burglars look for your spare key. Instead,
give it to a trusted neighbor. Train children (especially teens) to keep
key locations, alarm codes and other family security information private
from their friends.
Check in with family as you
come and go. When you get home, phone to say that you’re getting out
of the car and are almost at the door; require kids to check in when they
arrive home or leave.
Have a family discussion to
plan what you’ll do in case of a break-in or home invasion. Whoever
can escape should, McGoey says. Although the first instinct of many men
may be to stay and defend their family, it’s better to get
reinforcements than to get hurt.
Check out Schlage’s security
checklists for movers, seniors, renters and homeowners.
3. Call the police. Many departments have a home-security
inspection program. A designated officer walks through your home looking for
weaknesses and advises you on alarm systems, locks and lighting within a modest
budget. For example, here’s the program for the city of
Euless, Texas.
4. Join a Neighborhood Watch program.
Or start one. Ask your police department for details. These programs build
cohesive neighborhoods, and that helps reduce crime and reinforce property values.
(Read “How
potlucks help home values.”) Make friends with the folks on every
side of your place. Suggest keeping an eye on each other’s homes every
day and trading favors — feeding the cat or watering plants — when
you leave town.
5. Get a dog (or pretend to). A dog
won’t make your home impregnable, but it can make it look less
approachable. You don’t want a pooch? That’s OK. Post a
“beware of dog” sign anyway. McGoey, who doesn’t have a dog,
has a sign and makes a point of asking service people to wait before entering
his property so he can “put the dog in the house.” “The
sign is cheap,” he says. “It makes people think twice.”
6.Upgrade your house number. You want
your home’s street number easily seen in the dark from across the street
so police and firefighters can find you pronto in an emergency. Many fire
departments or city or county governments sell inexpensive (around $5)
reflective street numbers (see the Amherst,
Mass., Police Department’s house number program). Whatever type you
use, place it where it can be easily seen. Keep plants around the number
well-trimmed.
Leaving the porch light on 24
hours a day.
Leaving the trash out on
Friday for pickup on Monday.
Hold the mail delivery. Do
this by visiting the post office to fill out a form or go online here, to
the USPS.com Web site.
Set a few lights and
appliances to switch on and off. Digital timers (around $9 to $15) let you
set a schedule. You plug the timer into a wall receptacle and plug the
radio, TV or lamp into the timer.
Leave a vehicle in your
carport or in front of the house if possible. Ask a neighbor or friend to
help you out by parking there.
Get friends to pick up
newspapers, cut the grass, water plants, feed pets and open and close
curtains, varying their routine to add a note of unpredictability if
possible.
With a modest budget
Most burglaries take place between 2 and 5 p.m. midweek, while residents are at
work, McGoey says. These daylight jobs require a burglar to be quick, typically
spending around 45 minutes selecting a home to target and just three minutes
actually doing the job. For a small investment, you can further secure your
home. The idea, Ryan says, is to make your place look difficult enough that a
burglar moves on to an easier target:
9. Doors:
Upgrade
the lock. For $25 to $150, you can buy a good Grade 1
(commercial grade) or Grade 2 deadbolt. No need for a locksmith; you can
install it yourself;
Reinforce
the strike plate. The strike plate is the metal plate in
the door jamb into which the bolt slides. Strike plates, typically held in
place by two half-inch wood screws, pull easily from the jamb, especially
in older homes. Replace yours with a heavy-duty brass strike plate ($3 and
up) that accepts up to six screws. Use 3-inch screws that screw into the
door frame. “Now you can kick on the door and your foot will fall
off before it gives in,” McGoey says. Reinforce all doors leading outside,
including the door between the garage and house;
Get
a better door. Replace your hollow-core door (easily
kicked in) with a solid wood (around $300 on up) or metal-clad (starting
at around $35) door. A new steel door (roughly $1,172) brought a
return of $1,470, on average — a 129% return on the investment,
according to Remodeling
Magazine’s 2008-09 Cost vs. Value report.
10.Windows: Keep your windows from
opening more than 6 inches. Install replacement windows that include this as a
built-in feature or cut a wooden dowel 6 inches shorter than the height of each
window and drop the dowel into the metal gutter of each window frame so the
window can’t be opened fully.
Burglars know that older
sliding windows can be lifted right out of their frames. If yours is the
type that pops out, install sheet-metal screws into the upper window
track, screwing them in only halfway. The protruding screw fills the gap
between window and frame, keeping the window in place.
Window and glass laminate
films (prices available through dealers) can toughen glass, making it more
difficult to break. One advantage is that the product slows down intruders
and forces them to create a racket trying to smash the glass.
11.Secure the perimeter:
Outdoor
lights. Replacing porch lights and other outdoor lights
with motion-sensor lights is cheap ($50 and up) and easy. “They
don’t know for sure if you’re home or (if it’s) a sensor
light,” McGoey says. “Burglars are all about taking the
easiest path of resistance,” so most will flee. Program it to turn
off in 30 seconds. Put sensor-triggered lights all around the perimeter of
your home.
Erect
a fence. Even a 3-foot fence helps create a psychological
boundary that helps in deterring intruders, McGoey says. “It
says, ‘This is my house, my property.’ People are going to be
reluctant to step over that fence.” Higher fences may be appropriate
in high-threat neighborhoods. Before building a fence, check with your
city or county planning office. Most require a permit and many restrict
the height and even building materials.
Eliminate
hiding spots: Trim the trees and shrubs. A pruned and
maintained landscape robs intruders of hiding places. It also signals to
outsiders that your home is cared for and probably more secure. Put
sensor-triggered lights all around the perimeter of your home.
12. Alarms: What alarm is best? The one that makes the
worst, most god-awful noise, Ryan says. (Renters can buy portable wireless
alarm systems to take along when they move.)
Many people spend thousands of dollars buying, leasing and installing
electronic alarms, and then they sign contracts requiring them to shell out
thousands more to a company that monitors the alarm. Don’t, McGoey says.
He says the most effective part of these systems is the warning sticker on your
window or the sign in your yard. Otherwise, except for elderly residents and
second homes with absent owners, there’s no need for expensive
monitoring. A 30-second alarm blast should scare away intruders. Also, newer
alarms can be programmed to do what monitoring companies do first anyway: phone
you (or text you) when the alarm has been tripped.
The days are getting slightly longer,
and that means there are plenty of opportunities to get outside, go
camping or participate in any one of the many activities
we offer at County Parks.
For the month of February, we will be seeking
your ideas to help plan the future of our parks and
programs. To find out how you can help, click here.
One of our most beautiful parks, Heise lies amid
900 acres of mountain forests. The nearby town of Julian is a great
place to visit. Or you can visit any one of our 8
beautiful campgroundsaround the county.
For updated information about our parks and events
check out our website, or join us on Facebook and Twitter .
See you at a County park!
Sincerely,
The County of
San Diego Department of Parks and Recreation
Vallecito
Days -- March 5, 6, and 7, 2010 Vallecito
Regional Park, 37349 County Route S-2, Shelter Valley
Book
your camping reservations now for a historical journey into the West!
The
public is invited to experience life in the West as it was in
1858. Historians, equestrians and park staff, dressed in period
fashion, will reenact the historical journey into the West
to celebrate the importance of the Stage Station.
Visitors
can witness the reenactment and tour the original stage
station with many of the artifacts from
the 1860s. On Saturday the riders come into the Vallecito
station just as they would have more than 150 years ago
after crossing the desert. Sunday they will ride through
Vallecito Valley to the old Campbell Ranch House just as cowboys have
done in years past. Saturday evening, guest speakers will share the
history of the area by lantern light while relaxing inside the stage
station. Both equestrian and tent camping is available from Friday
through Sunday.
Clickhere to
watch a video about Vallecito County Park.
For information about Vallecito County Park, click here.
COUNTY WANTS YOUR IDEAS FOR PARKS AND
RECREATION PROGRAMS
Public is Encouraged to Take Online Survey
WHAT:
The County of San Diego Department of Parks and
Recreation wants to hear from residents to help plan programs at
County park facilities in 4S Ranch, Fallbrook, Lakeside and Spring
Valley. County Parks and Recreation offers a wide variety of
programs for both children and adults, including athletics, fitness,
personal enrichment, health and wellness, outdoor adventure and
environmental education.
The department has created a brief questionnaire on its Web site. You
can participate by clicking here.
It takes less than five minutes to complete and will
have an impact on plans for parks programs and services in the next
five years. Participants will be entered into a drawing to
receive two free nights of camping.
WHEN: Survey is
available now through the end of February 2010.
WHO:
All County residents are encouraged to take the survey, particularly
those who live in or near the communities of 4S Ranch, Fallbrook,
Lakeside and Spring Valley.
Events
Star
Party at Sycamore Canyon/Goodan Ranch Preserve, February 5
6:00
p.m. - 8:00 p.m.
Join
SDAA volunteer astronomers and County Parks for a night with the
stars. Come experience the chance to view the Great Orion nebula, the
Andromeda Galaxy, Bode's Galaxy, various open star clusters including
the "Double Cluster" as well as many more. These events are
informative and fun for the whole family. We promise you will be
wowed by this star experience! For more information, call (858) 513-4737.
90 minute
Nature Walk at Louis A. Stelzer Park, February 6
8:00
a.m.- 9:30 a.m.
Join us for a Ranger-led 90 minute walk along the 1 ½
mile Wooten Loop - Riparian Trail. An easy to moderate hike on
an unpaved, yet maintained trail. We will travel along an open
hillside with views of Stelzer Ridge and Wildcat Canyon and then
return through the shaded oak- and sycamore- lined trail along
Stelzer Creek. All programs are free but reservations are required,
and there is always a $3 parking fee for Louis A. Stelzer Park.
For
additional information, please call the Ranger Station at
619-561-0580 or email Ranger Sean at Sean.Flynn@sdcounty.ca.gov
Nature
Walk at Sycamore Canyon, February 13
10:00
a.m. - 11:30 a.m.
Come
and learn about the nature that lives within Sycamore Canyon. This
program will teach you about the history of the preserve as well as
invite you on a walk to point out wildlife tracks and signs along
with plants, insects, reptiles and birds encountered along the
way. Winter may be in full force but there will still be plenty
to see in this beautiful area. Space
is limited to 30 so please call (858) 513-4737 for reservations.
Lagoon
Hikes with Docents at San Elijo Lagoon Ecological Reserve, February
13
9:00
a.m.- 10:00 a.m.
Meet at the north end of Rios Avenue in Solana Beach
San Elijo Lagoon Ecological Reserve
2710 Manchester Avenue, Encinitas
For more
information, please call 760-436-3944.
Plant
your roots at Potrero County Park, February 20
A
presentation on plants followed by games and crafts that will give
you a chance to apply your knowledge.
For
more information, please call (619) 478-5212.
Gardening
with Native Plants at Goodan Ranch, February 20
10:00
a.m.- 11:00 a.m.
Join park staff and Jeremy Sison and learn all about
planting and gardening with native plants. Using native plants in
your garden has so many benefits inlcuding ease of maintaining them
as well as saving on water use. Native plants are used to growing in
our local enviroment and so grow more easily and abundantly. Come
learn the best ways to put natives to use as well as to see examples
of local gardens and landscape using just such plants. Space is limited to 30 so
please call (858) 513-4737 for reservations.
Ranger
Interpretive Talk: Native Americans at Sweetwater Regional Park
Summit Site, February 27
10:00
a.m.- 11:00 a.m.
Learn
what influences the lives and cultures of Native Americans in San
Diego County, the connections they have with the environment,
and how the changing of the environment means changes to the culture.
Meet
at
the Sweetwater Summit ranger office.
For
more information, please call (619) 472-7572.
Pioneer
& Military Museums at the Campo Stone Store and Museum, February
28
11
a.m. to 5 p.m.
Saturdays and Sundays. Pioneer Museum downstairs;
Military Museum upstairs with emphasis on U.S. Cavalry and the
Buffalo Soldiers. Short video.
• Feb. 2, 2010 - 6 Tax Tips for Real Estate Owners and Investors
6 Tax Tips for Real Estate Owners and Investors
[1]RISMEDIA,
February 2, 2010—As real estate owners and investors do business
throughout 2010, they will more than likely face many complex tax issues that
could strain their resources and drain profits. They should keep in mind these
tax tips that could help them save money in the long run:
1. Determine if your partnership qualifies for an income deferral
for debt reacquisition transactions. Has your business had debt
forgiven? There is a tax election available that will allow you to defer
cancellation of debt (COD) income until 2014, when it will then be recognized
ratably over five years. Carefully consider the options before making this
irrevocable election as your COD income could be fully excluded under other
provisions.
2. Color your building green. Take advantage of special
deductions and credits for green, or environmentally friendly, buildings.
3. Determine if you are a dealer or an investor. Do you
know if you are a real estate dealer or an investor with regard to taxes?
Proper planning will ensure the desired treatment upon disposition of the
property.
4. Allocate land costs to your benefit. To defer income upon
the sale of parcels from a tract of purchased land, it is necessary to properly
allocate the cost among the various parcels. The IRS requires that the cost be
equitably apportioned, but how? Consider several methods when allocating costs.
5. Take advantage of lower property valuations. Have you
considered gifting real estate property or partnership interest for estate
planning purposes? You may want to consider converting a corporation into an
LLC since built-in gains may be low due to depressed real estate values.
6. Properly account for your lease income. You may be
accounting for your lease income based on the cash received or the terms of the
lease agreement. However, an Internal Revenue Code section specifically
addressing leases may require the income to be accounted for in a different
manner.
“To learn how these tax tips may apply to your real estate business or
investment, please contact your tax advisor,” said Jerry Williford, a
Grant Thornton Real Estate Tax executive director.
• Jan. 30, 2010 - What are some Do It Yourself projects for under $50?
What are some Do It Yourself (DIY) projects for under $50?
By By Carolyn McTighe, SPECIAL TO THE UNION-TRIBUNE
Saturday, January 30, 2010 at 12:06 a.m.
/ Jupiterimages
Looking to spruce up your home on a budget? Not all home improvement projects have to empty your wallet. Here are 10 simple, do-it-yourself projects that you can do for under $50, with a little advice from some local experts on exactly how to get it done.
(All items can be found at home improvement stores such as Home Depot, unless otherwise noted.)
Don’t knock it
One of the first things people see when they arrive at your home is your front door. Scratched and paint-chipped doors are unsightly and can make your home look less than perfect.
“Painting your front door with a high-sheen paint is a wonderful way to create the home environment you love,” says Marisa Reed, an interior designer and owner of Veritas Interiors in Escondido. “It makes your house stand out, and it’s a great way to express your own individual style.”
3 Piece Economy Brushes $5.97
Painter’s tape $6.87
High-gloss exterior paint $15-$20
Total cost $32.84
Add a touch of color
Lynn Harland, an interior designer and president of Duffy’s Designs in Solana Beach, believes there is nothing that can update the look of a home more than a fresh coat of paint. Faux finishes and hand-stenciled accents can also go a long way to transform a room.
“I get the paint shop to mix me a color of my choice in floor paint, like you use in a garage,” says Harland. “When it’s finished, I stencil designs on in a coordinating color like silver or gold, then I put a protective coat over that. Over a faux finish, it’s really a fabulous look.”
Trace Designs Stencils $38.95
Adirondack acrylic paint stampers from Michaels $4.99
Total cost $43.94
Install an energy-efficient thermostat
Changing your old manual thermostat for a new digital one will save you a great deal of time and money. These programmable thermostats automatically adjust your home’s temperature setting while you are sleeping or away.
Rite Temp 7 Day Programmable Thermostat $49.97
Total cost $49.97
Add a little hardware
Reed has her own ideas on how to make some simple and dramatic changes to your home without breaking the bank. Something as easy as changing out the hardware in your kitchen and bathroom may seem simple enough but can actually update the look of your home.
“A great project is to replace the pulls or knobs on your furniture or on the cabinets in the kitchen,” Reed says. This can be done for as little as $50, depending on the size of the room.”
Husky screwdriver $5.98
Liberty Hardware round knobs (10 Pack) $11.99
Pack of screws $5.98
Total cost $23.95
Dim the lights
Removing old, outdated light switches and covers is a simple way to update the look of your house. Light switches that have dimmers are simple to install and help to conserve energy.
Lutron Skylark dimmer $17.97 x 2 rooms
Total cost $35.94
Clean tired tiles
Dirty tiles and grout can make a floor look tired and unfinished. Using a simple ceramic tile and grout cleaner will leave your tiles looking brand new. You might also want to consider applying a sealer, which will protect the look of the tiles and grouting and also inhibit the growth of mold and mildew.
Tile and Grout Magic Spray Gel $32.28
Tile and grout brush $1.99
Total cost $34.27
It’s in the details
Bringing the beauty of the great outdoors into your home is another quick and easy DIY project that you can do in one afternoon and will leave both you and your wallet in good shape.
“Recover some decorative pillows with new fabric and trim,” Reed says. “Find the colors and textures that reflect your individual identity and add them to your home in splashes.”
Fabric pillow covers from Pier One Imports $10-$30
Total cost $30
Fix the dents
Before you get out your paintbrush, inspect your walls for any holes and imperfections. Scrapes, chips and dings can actually be accentuated by certain colors and types of paint. Apply a small amount of patching putty to your wall and let it dry. Once dry, sand the putty until smooth and clean.
Patching plaster $11.97
Hyde Tools 6-inch putty knives $15.97
Sandpaper $6.75
Total cost $34.69
Touch of class
Nothing finishes a room better than crown molding. With so many designs and styles to choose from, homeowners can now add this classy decorative touch themselves — and at a very low cost.
Using it as a chair rail on a feature wall or around kitchen cupboards is a quick and inexpensive way to make your room look impressive.
Workforce hammer $5.98
Nails $5.97
Hanover crown molding 2 x $13.95 (per 8 feet)
Total cost $39.85
Roll out the fabric
A trend that is becoming increasingly popular among professional designers is wall upholstery. This decorating technique requires a little finesse but can have spectacular and dramatic effects when done correctly.
“You simply place strips of upholstery batting on the wall with staples and then sew seams together of fabric 54 inches wide,” says Harland. “After you iron the fabric, you staple it around the perimeter of your wall.”
Fabric (7 yards at $4.99) $34.93
Batting $15
Total cost $49.93
Find this article at:
http://www.signonsandiego.com/news/2010/jan/30/what-are-some-diy-projects-for-under-50
• Jan. 30, 2010 - Looking Ahead: Cents and Sensibility Top Priorities for Homeowners in 2010
Looking Ahead: Cents and Sensibility Top Priorities for Homeowners in 2010
[1]RISMEDIA, January 22, 2010—Better Homes and Gardens recently revealed proprietary research and insights on what consumers are looking for in their next home and overall priorities guiding current and future home improvement projects.
In a speech at the NAHB International Builders Show, Eliot Nusbaum, Better Homes and Gardens Executive Editor Home Design, presented the results of the Next Home Survey along with reported trends from a nationwide network of field editors, the magazine’s Home Improvement Challenge and editorial coverage.
The survey of nationwide potential new home buyers and existing home owners who are planning improvements in the next few months found top priorities to include price, energy-efficiency, organization and comfort.
“Not surprisingly, we continue to see a ‘cents and sensibility’ approach when it comes to buying or improving a home, with practicality and price being top priorities,” said Nusbaum. “Today’s homeowner is also looking for a home that fits the entire family–from a multi-tasking home office, to expanding storage space needs, to a living room that can adapt to advancements in home entertainment and technology.”
Future Home Buyers
A Smaller and More Energy-Efficient Home
Continuing the “downsizing” trend, more consumers (36% in 2009; 32% in 2008) expect their next home to be “somewhat smaller” or “much smaller.”
A greener home will be a priority, with 87% planning to have high-efficiency heating/cooling in their next home and 86% planning to have high-efficiency appliances; 24.9% will have geo-thermal heat.
When asked how today’s housing market and economic turmoil have impacted priorities for their next home, 76% said energy-efficient heating and cooling systems will be “more important” and for 70%, Energy Star appliances will be “more important.”
Almost half (48%) say green building practices/materials will be “more important” when purchasing their next home.
An Organized, Multi-Tasking Home with No Wasted Space
The home office is a priority as 59% of consumers plan to have one in the home. Of those, only 28% want a separate dedicated home office space (compared to 64% in 2008), with one-third (33%) now wanting a more multi-purposed space, such as combined office/computer/hobby/craft/art room.
A well organized home is key, with 66% of respondents listing “no-space-wasted” design and 62% listing ample storage space as attributes that will take on more importance.
Also on the ‘wish list’ for the next home is: a separate laundry room (85%); an outdoor grilling and living area (68%); a kitchen with eating area (67%); and an extra bedroom with bath (65%).
America’s love affair with the large garage continues to flourish with 37% of consumers now wanting a 3-car or larger garage compared to 29% in 2008.
A Family-Friendly Home
Nearly two-thirds (62%) of consumers consider a comfortable family gathering space to be top priority in their next home.
Of lesser interest this year is a kitchen, family and everyday eating area combined in one space (49% vs 56% in 2008) replaced by significantly greater interest in a family room partially separated from the kitchen (42% vs 27% in 2008).
There is also an increased desire (51% vs 44% in 2008) for a wall-mounted flat screen TV in the main family living area and for networked computers/home entertainment center (48% vs 43% in 2008).
Home Improvers
“With the economy still a major concern, right now it’s more about the ‘got to’ improvements than the ‘want to’ improvements,” said Nusbaum. “The focus is now on low-cost improvements that will pack a big punch.”
With only 16% feeling “now is the right time to spend” on home improvements vs 38% saying “now is not the right time to spend,” 52% are focusing their efforts on needed repairs and maintenance.
Three-quarters (76%) say the economy has had an impact on their home improvement plans, with half (50%) having changed their home improvement plans during the last year.
Smaller projects prove to be the most popular, such as painting a room (54%), replacing/adding flooring or carpeting (38%), decorating/redecorating a room (35%) and landscaping the yard (30%).
Energy-efficiency is also a focus of future home projects, with respondents placing importance on installation of Energy Star windows/doors (34%), high-efficiency heating/cooling (31%) and Energy Star appliances (31%).
• Jan. 30, 2010 - Repeat Buyers Need to Act Fast to Capitalize on Expanded Tax Credit
Repeat Buyers Need to Act Fast to Capitalize on Expanded Tax Credit
[1]RISMEDIA, January 23, 2010—By now it is well documented that today’s affordable housing prices, historically low interest rates and federal home buyer tax credit have combined to create one of the most attractive first-time buyer markets in recent memory. What many Americans might not realize is that a recent expansion of the buyer tax credit has created an equally desirable opportunity for existing homeowners.
This past November, Congress elected to expand the home buyer tax credit to repeat buyers after seeing the success the temporary financial incentive had on the housing market and overall economy. As a result, current homeowners who will have lived in their home for 5 consecutive years out of the last 8 may now be eligible to receive a $6,500 tax credit.
“The expanded tax credit offers a great financial opportunity for existing homeowners, particularly those looking to trade up,” said James M. Weichert, president and founder of Weichert, Realtors, one of the nation’s largest independent real estate companies. “Not only can you receive a large sum of money from the government, you’ll also likely purchase your next home for less money and at a lower interest rate than you could have in years past or years to come.”
To qualify for the tax credit, the repeat buyer must have signed a binding contract by April 30, 2010 and close on the home by June 30, 2010. Tax credit eligibility is subject to income limits, $125,000 for single buyers and $225,000 for couples. In addition, the sale price of the home being purchased can not exceed $800,000.
There is no requirement that existing homeowners must have sold their home to be eligible for the $6,500 tax credit. However, Weichert encourages existing homeowners who want to benefit from this incentive to move quickly, particularly those who prefer to first sell their current home before purchasing a new one.
“Typically, it takes three months or longer to sell a home. That’s why it is critical repeat buyers put their home on the market right away. Otherwise they might not leave themselves enough time to both secure a buyer for their current house and find a new home by the April 30 deadline,” added Weichert.
• Jan. 30, 2010 - Economy Forces Changes in Thinking about Retirement Homes
Economy Forces Changes in Thinking about Retirement Homes
[1]RISMEDIA, January 30, 2010—(MCT)—If your idea of a dream retirement home is a luxury contemporary overlooking a championship golf course in the desert, you better be prepared for some mighty small block parties: When it comes to retirement living, golf courses are out.
And Arizona and Florida aren’t the only retirement-relocation hot spots these days. In fact, North and South Carolina now top the preferences of baby boomers who will be retiring in the next decade, according to a survey to be released from home builder Del Webb. “How times have changed when it comes to the golf course,” said Paul Cardis, chief executive of AVID Ratings Co., a survey research firm. His recommendation to builders: Eliminate it. Bike paths and walking trails are the new greens and fairways.
Blame it all on the economy. The recession has taken its toll not only on nest eggs but also on the traditional concept of a retirement home. That’s the message that attendees at the International Builders Show received in a number of presentations and seminars.
Downsizing is a trend that is taking hold among all housing consumers, but it is particularly evident among the 55-plus crowd that includes the older baby boomers. And that downsizing includes housing aspirations in retirement. While “warmer climate” was the reigning factor in choosing where to retire in the first boomer survey Del Webb conducted in 1996, today “cost of living” is the most important consideration on where to locate. Although Florida, Arizona and California remain Top 10 retirement destinations, the trend is giving other states a chance to draw even more retirees.
Despite the broadening of potential destinations, baby boomers’ desire to move in retirement has remained relatively stable over the years. Between 30-40% plan to move to a new home in retirement, about the same as in 1996, and half of those plan on moving to a new state.
What older buyers want in homes
What kind of houses will be in demand among those 55 and older? According to a consumer survey conducted by the National Association of Home Builders, the most important design features that 55-plus buyers want in their homes center on the practical:
-Washers and dryers in their units
-Storage space
-Windows that open easily
-Garage-door openers
-Easy-to-use thermostats
-First-floor master bedrooms
-Private patios
-Porches
-Attached garages
-Bigger bathrooms
A lot of the more popular features in new homes these days don’t appeal all that much to older buyers:
-Island work areas
-Separate showers
-Private toilet compartments
-Sun rooms
-Woodburning fireplaces
-Exercise rooms
But a number of items that home buyers don’t find to be of much interest are much more popular with older buyers:
-Bathroom aids such as grab bars
-Kitchen aids
-Light home-repair services
-Outdoor maintenance services
-An entrance without steps
-Accessible public transportation
-Wider doorways
-Nonslip flooring
Among technology features, older home buyers tend to act like younger buyers when it comes to the basics: Both groups have a preference for security systems, energy management, structured wiring and lighting controls. But older buyers had little use for home theaters, distributed audio or home automation, more-expensive items that younger buyers do like. “These older buyers are frugal, probably on a fixed income and so expensive tech items are not that big on their lists,” said Rose Quint, the NAHB assistant vice president for survey research.
The emphasis on services related to home and community is an important one that cuts across many age groups, said John Migliaccio, director of research at MetLife’s Mature Market Institute, which surveys consumers and builders on retirement issues. “Very telling is that the younger group of mature consumers reported enthusiastically that they want services like home maintenance and repair as part of their next home purchase, along with services usually connected to older householders, such as housekeeping, onsite health care and transportation,” he said.
According to Migliaccio, all of those items were ranked higher than the desire for social activities by this group—a surprise given that social activities and amenities have been thought to be valued highly by this group. He said the data support an emerging trend among builders to look for ways to partner with providers of such services to the residents of their active adult/lifestyle communities.
Migliaccio also predicted that universal design—which includes features such as wider hallways, lever-handled doors, roll-in showers and no-stair entries—will catch on as baby boomers watch their own parents age. “The boomers are going to see their own parents age without it and they won’t like what they see,” he said.
The 55-plus age group represents 38% of all U.S. households and is projected to rise every year to be almost 45% of households by 2019. And that group has high homeownership rates: while the U.S. as a whole has about a 67% ownership rate, those 55 to 74 own homes at an 80% clip. “Most buyers in this market are looking for an easy-living lifestyle. They would like easy access to services that will free up their time from maintenance both inside and outside their homes,” said Mike McGowan, a 50-plus builder from Binghamton, N.Y. and chairman of the National Association of Home Builder’s 50-Plus Housing Council. “This data tells builders that the homes they build for older active adults will remain attractive to the consumers who will be entering that market for the foreseeable future.”
(c) 2010, MarketWatch.com Inc.
Distributed by McClatchy-Tribune Information Services.
Robert Jaggi and Jonathan Yarnell (right) of REC Solar installed panels on a Kensington home in April 2009.
Six months after proudly announcing that San Diego leads the state in the number of rooftop solar systems, city officials last month made it more expensive to go green by raising its fees sixfold.
The cost of getting a solar installation plan approved and the system inspected has risen to $565 from $93. The increase reflects a policy change by the city to quit subsidizing solar installations and adjust fees to reflect what it costs to issue the permits, officials say.
Solar advocates and installers say the fee increase is unjustified and may hurt efforts to cut carbon emissions that contribute to global warming.
“It doesn’t make a lot of sense,” said Daniel Sullivan, whose San Diego installation business has grown from two employees to 28 in the past five years. “You don’t start taxing the industry that’s growing the fastest just because your general fund is hurting.”
Fees are needed if the industry is to grow, said San Diego Mayor Jerry Sanders.
“The fees, it’s a part of life,” Sanders said. “We wouldn’t have the people up there to process (applications) if we can’t have the fee structure that allows them to support themselves.”
San Diego used to be the third-cheapest place in the county to get a permit for a photovoltaic system, but now it trails only National City — whose fees are $595 — as the most expensive, according to a 2009 Sierra Club survey.
“$565 is way more than they need,” said the Sierra Club’s Carl Mills, who wrote the survey that said any fee higher than $324 was excessive.
Residents of unincorporated communities in San Diego County pay nothing — the county government waives permit fees to encourage solar development.
“In the spectrum of permit fees, $93 was on the low side, while $565 is on the high side,” said Andrew McAllister, director of programs for the California Center for Sustainable Energy, which helps homeowners qualify for state subsidies for solar installations.
The Sierra Club’s survey found a range of fees statewide, with some Los Angeles-area cities the most expensive at around $1,500.
San Diego officials say the revised fees are part of an overall effort to make sure people pay what it costs the city to provide services. They are not related to the city’s general fund.
“We are encouraging solar,” Sanders said. “But one of the things we’ve learned is we get sued when we subsidize one type of development from other developers.”
Sanders said the fee is a fraction of the cost of a solar installation, which can top $30,000.
The city wants to make solar affordable, Sanders said. In a few months, a new program will issue low-cost loans to residents for solar installations. Residents will pay off the loans over 20 years through their property tax bills.
The higher fees and the loans could mean a windfall for the city, said Sullivan, the solar installer.
“If you’re talking about hundreds and hundreds of systems, you’re talking about hundreds of thousands of dollars of impact to the San Diego economy,” he said.
The city has 2,262 solar roofs — more than any other city in the state, according to a July report by the nonprofit group Environment California. The electricity generated is roughly equivalent to the power used by 12,000 homes.
Solar advocates push for lower fees and quicker approvals and inspections, but it is unclear whether those policies have stopped people who would have installed solar panels.
The City Council approved the new fees based on the recommendations of an $80,000 study into what it should charge for services to make sure users pay what the services cost, said Kelly Broughton, director of the city’s Development Services Department. The study looked at the department’s fees, including for building permits and development approvals.
A few years ago, a similar study set the cost of issuing solar permits at $240 to $260, but officials decided to charge less than half of that.
The newer study took into account how long it takes staff members to issue a permit or inspect an installation.
Fees were increased by an average of 17 percent, but some had to go up much more to make up for what it cost to provide the needed services, Broughton said.
“We were fairly out of whack with what it cost to provide those services,” he said. “Our salaries have been going up, and the cost of pensions have been going up.”
The city plans to revisit fees annually to make sure they fairly reflect costs and adjust them as necessary.
Solar installers have said that a process that once took a few hours now takes several days, but Broughton called it a temporary issue.
“It’s only because I don’t have the staff,” he said.
Broughton has reassigned an inspector and expects to take care of the backlog over the next few months.
While San Diego raised its solar permit fee last year, Coronado lowered its fee to $268 from $868 by changing the way it was calculated.
“We want to be solar-friendly,” said Coronado’s senior building inspector, Dave Calvani. “We don’t want to have exorbitant fees. At the same time, we want to recover our costs.”
Find this article at:
http://www.signonsandiego.com/news/2010/jan/11/sd-solar-permit-fee-6-times-more-expensive
• Jan. 29, 2010 - County to auction 330 tax-delinquent properties
County to auction 330 tax-delinquent
properties
Thursday, January 21, 2010 at 12:04 a.m. Short Takes, San
Diego Union Tribune
Hundreds of tax-delinquent properties across San Diego
County will be put up for public auction next month as county officials seek to
recover just more than
$1.5 million in unpaid taxes.
Most of the properties — 189 of 330 scheduled to be
sold — are time-shares that usually permit the owners to spend one week a
year at the site. There are also 41 improved properties and 100 vacant parcels
on the list of properties that will be auctioned, Treasurer-Tax Collector Dan
McAllister said.
State law allows counties to sell properties that have been
in default on property taxes for five years.
The auction is scheduled Feb. 26. Property owners have until
5 p.m. Feb. 25 to pay the delinquent taxes and avoid sale.
To participate in the auction, prospective bidders are required
to register in advance.
The last day to register is Feb. 19.
For information about the properties to be sold or to sign
up as a potential buyer, call (619) 531-4862 or go to sdtreastax.com.
• Jan. 28, 2010 - FHA PLANNING ON TIGHTER REQUIREMENTS
FHA PLANNING ON TIGHTER REQUIREMENTS
FHA has been an increasingly popular program in
the last few years. Especially here in San Diego
County, where FHA previously was not a very
relevant program, the higher loan limits has made
it the most popular for first-time home buyers.
But there is a price for such success. Some industry
estimates are that about 30% of all mortgages last
year were FHA-insured. This increase in lending
volume has put some strains on the FHA system.
A borrower who obtains an FHA loan is required to
pay mutual mortgage insurance (MMI) into the fund
that creates reserves against losses in the FHA
program. This MMI comes in two part: an up-front
mortgage insurance premium (MIP) that is most often
financed on top of the base loan amount, and a monthly
MMI premium.
Because of the higher volume of FHA loans, and the
emphasis on helping first-time buyers and those with
lesser credit scores, there has been more late payments,
defaults, and foreclosures in the program. As a result,
the reserves have fallen below what is required for the
FHA program.
The new changes are designed to increase revenue to
the reserves, to decrease some of the risk from the
more marginal qualifiers, and for borrowers to rely
less on contributions from the sellers in buying their
homes.
The following changes will be effective with case
numbers that are issued on or after April 5, 2010.
This means that a borrower will need to be under
contract on their home by about April 1 to beat
the deadline for these changes.
First, the MIP has been 1.75% of the loan amount.
After the changes take place, this will go to 2.25%
of the loan amount. On a $300,000 loan, this will
add an additional $1,500 to the amount financed
and increase the monthly payment by about $10
per month.
Second, if a borrower has a credit score of 580 or
less, they no longer will be able to purchase with
the minimum down payment of 3.5% of the purchase
price. Those borrowers will now have to have 10%
down payment, and get a loan of 90% of the value.
Third, in the past sellers could negotiate to pay as
much as 6% of the sales price of the home toward
the buyer's closing costs. FHA will now limit that
contribution to only 3%. Part of the reason for this
change was because FHA was discovering that
sellers were inflating the sales price to cover the
larger contributions, and FHA was insuring loans
even higher than the 96.5% that the program
allowed.
All in all, it will be somewhat more expensive for
a borrower to obtain an FHA loan. It will still be
a viable program for borrowers with small down
payments and who need some forgiveness on their
credit scores.
The important thing is to know what changes are
coming so that you are not surprised when you are
ready to enter into your contract.
Fannie
Mae Offers New Closing Cost Assistance and Appliance Incentive for
Homebuyers
Fannie Mae is
offering a 3.5% incentive for buyers who purchase and close on a Fannie
Mae-owned home between January 28 and April 30, 2010. Buyers purchasing
properties listed on HomePath.com that are closed within this
period may receive up to 3.5% of the final sales price for:
·Closing
costs;
·The
purchase of new Whirlpool® appliances by Fannie Mae; or
·A
mix of closing costs and appliances, at the buyer's discretion, up to
the maximum 3.5%.
To
be eligible for this incentive:
·Offers
must be accepted on or after January 28, 2010;
·Property
sales must close before May 1, 2010, and;
·Buyers
must be owner-occupants (investors are excluded).
The incentive
reinforces the organization's commitment to stabilizing communities and
assisting buyers. For more information about this incentive, visit www.HomePath.com,
read the press release on fanniemae.com,
or contact a Fannie Mae listing broker.
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