California’s Home Energy Rating System
NEW ENERGY SAVINGS BOOKLET NOW AVAILABLE The California Energy Commission has recently released a Home Energy Rating System (HERS) booklet to help homeowners determine the energy efficiency of their homes based on an HERS rating scale of 0 to 250, and identify energy-saving improvements. This new publication offers a reliable…
Can Home Sellers Keep Home Buyer’s Non-Refundable Deposits?
Simply put, there are no non-refundable deposits in standard real estate purchase contracts – you either have a contract or an option. If it is a valid purchase contract, specific provisions of the agreement determine whether deposits are refundable or not. Adding a provision to a standard real estate purchase…
What Green Remodeling Is Smart For Home Sellers?
Image via Wikipedia Are you thinking about doing some remodeling? If so, for the best return on investment, go green. The new term is “eco-renovations†and some homebuyers are paying a premium for the added value of energy-efficient houses. Light Bulbs – Sounds too easy, but CFL florescent light bulbs…
Can Interest Rate Buydowns Help Saratoga Home Sellers and Buyers?
Mortgage interest rates are currently low, but home sellers can give extra motivation to potential buyers their Saratoga home by offering an interest rate buydown. Private Mortgage Advisors, an affiliate of Wells Fargo Home Mortgage and Alain Pinel Realtors has a temporary rate buydown option that can lower home buyer’s…
What Are Fair Housing Guidelines For Real Estate?
I am a member of the National Association of REALTORS®, which strongly supports the Fair Housing Act. Title VIII of the Civil Rights Act of 1968 prohibits discrimination based on race, color, national origin, religion, sex, familial status or disability. While more than 75 percent of white households own their…
Whose Fault Is It?
Yesterday at open house in Almaden I was asked by a gentleman about earthquakes which is actually an infrequent question. I commented to the man that the earthquake faults are disclosed in Natural Hazard Disclosure maps for all properties, but this seems to have little impact on Silicon Valley property…
What Are New Real Estate Laws?
The Housing Stimulus Bill of 2008 has provision that modifies the $250,000/$500,000 exclusion of gain on the sale of a principal residence. Beginning in January 1, 2009, the exclusion, as it applies to a second home (or rental property) that is converted to a principal residence will be allocated. When…
Tax-Free Exclusion on Second Homes?
Thinking about selling that second home that you have converted to your personal residence? Beware! Deep in the new housing bill is a tax code change that limits the typical $250,000 or $500,000 exclusion on an investment property that has been converted to a personal residence (living in it two…
What Are County Property Tax Reassessment Procedures?
There has been much media attention about declining property values. As a result I am starting to be asked if it makes sense to appeal for a reassessment of property values. Here are some basics to get you started: The lien date for the assessment of property on the assessment…
Are Short Sale Properties Good Investments?
We are sometimes asked about short sale properties (where a lender agrees to take less than the full amount due on a loan). We do not keep a list of short sale properties nor is it a business that we pursue because of some practical problems. Our recent experience has…
