Downey, CA

Minority Woman Owned Business

10220 Old River School Road

Downey, CA 90241

323-833-6466 Cell

All my friends are tell me to wait until home prices bottom and then buy. Should I wait or should I buy now? I am sure your friends have your best interest at heart and they may not know how real estate works.

Real estate goes up and down, they always have....if someone purchased a home at the wrong time or wrong place and wrong loan (maybe during a California real estate bubble during the early 90’s and 2005 and 2008 with a toxic loan), then they may have a bad taste in their mouths for real estate.

Maybe some of your friends purchased at the height of the real estate bubble with a toxic loan and their homes have lost value and their loan has or is about to explode, they may not be your best real estate advisors.

You need to purchase after the bubble pops not while it’s being inflated. I work the Downey CA area and I believe that Downey has bottomed and prices will be low for the next few years with a little increases here and there, but they will come back up again.

Will home prices ever come back up to the 2006/2007 bubble prices? No one knows at what rate homes will appreciate but prices have no where to go but up, but that’s just the real estate cycle.

The danger of waiting is your interest rate can go up and so can the cost of getting a loan: loan points, title insurance, homeowner insurance, private mortgage insurance, escrow fees.

Also remember, buying a house is more than just a financial decision, it’s a place where you are going to build a home for your family. If you find that right place at the right price, what does it matter if prices fluctuate up or down, if you are planning on staying for at least 5 to 7 years, you’ll be ok.

If you are buying to flip and trying to make a quick profit, then I say you might be treading in dangerous waters more so in certain areas like Downey CA were home prices shot up too high and to fast during the bubble years and are now in a correcting stage, which is good news for those who want to buy a home in Downey CA to raise their family. If you are planning on flipping for a profit, I wouldn’t be able to help you but if you want to buy a house to make it a “home,” then I can most certainly help you.

Please call me discuss how I can help you find the right home for you and your family.

First-Time Homebuyer Q & A and Seminar in Downey CA

Save the date:

Saturday, November 19, 2011

We will be having other dates opening up soon

Time: 12-5 p.m.

Location: Downey, CA

Sponsored by Aida Pinto, Real Estate Broker

United Associated Brokers

You must RVSP to reserve your seat.

Email me your request to: PintoRealty@yahoo.com or call (562) 916-3237.

There will be Spanish speaking agents available to assist you as well.

Come to this great and informative Firstime homebuyers class,

It’s free and at no obligation to you.

Do you have questions about buying a home in Downey CA

• What do I need to do to buy my home in Downey CA?

• Why do I need to be pre-qualified?
• How much money will I have to have up front?
• What types of loans are available to buy my first home in Downey?
• How do I apply for a loan to buy a home?
• What credit score do I need to have?
• If I have a short sale on my credit record, can I buy a home?
• What kind of home can I buy in Downey CA with the kind of loan I qualify for?
• Should I buy new, resale, foreclosure or short sale? What are the advantages and disadvantages of each?
• What about an inspections? What are the different types of inspections that should be performed when buying a home. Do I need them and who pays for them?
• Who pays for the appraisal when buying a home?
• Who hires the home inspector, the buyer or seller?
• What is the difference between an home inspection and an appraisal?
• What are the “red flags” I should be looking for when viewing homes?
• Who pays for the closing cost, escrow fee, title insurance, loan points?

You will find your answers to all your real estate questions....

just call (562) 916-3237 or email your request at: PintoRealty@yahoo.com.

Get the answers to these and any or questions regarding the home buying process!

For reservations for this seminar or other dates:

please call (562) 916-3237 or

e-mail” PintoRealty@yahoo.com

What would motivate you to buy a home or sell and buy an up-grade or

downsize?

A recently survey....found selling and buying trends within the “Baby Boomer” demographic and separated the baby boomers into younger Boomers (aged 47-55) and older Boomers (56-64). “With nearly 79 million Americans in this demographic, the insights gleaned from the survey can definitely help you understand this massive group of potential clients.”

“Young Boomers want all the upgrades!”

Survey says!

According to “the survey” only 6 percent of agents report that those in the 56-64 age category are looking to get into a bigger home. Interestingly, the younger boomers would love more space. In fact, 31 percent of those same agents said this younger group was in the move up buyer category. With the 47-55 age category it’s more likely additional space is needed for growing children.”

“Nearly 80 percent of the older boomers would love to downsize to a smaller home.”

According to Jim Gillespie, CEO of Coldwell Banker Real Estate, “I know baby boomers are a very diverse group and cannot be described in generalities, but our survey clearly indicates that those boomers who are financially secure are actively seeking to buy their retirement home, or a second home, and they are taking advantage of the opportunities and value available in today’s market.”

What are your thoughts on this and what would motivate you to make a decision to buy or sell in today’s market?

Are you a "baby boomer" who has an empty-nest and would love to move closer to the grand-children or maybe buy that vacation home on some remote island you always wanted?

OR why not rent your vacation home?

Maybe you could find some great vacation rentals instead of buying!

Or, maybe you're just tired of keeping up with a large home and you want to downsize to a condo or smaller home!

Or, maybe you want to move in with your extended family out-of-state! Or, maybe you live out-of-state and want buy a rental property closer to home.

There are so many possibilities. One caveat: if you don't need to sell, don't! But if you do, and you own real estate in Downey CA or Long Beach CA and you need a full-time Realtor who has the knowledge and the desire to help you sell your rental property or primary home in downey, I know I can get the job done! I would love the opportunity to interview for the job of being your Real Estate Broker and Realtor.

Please visit my website: Click here-->>www.PintoRealtyInc.com

Will I owe income taxes if I do a short sell on my home in Downey, CA? It depends and you should really be asking your tax adviser....because only he/she can give you the right advice...and...since I am not a tax expert, and this is not tax advice and is for informational purpose only, I must repeat you would be better off checking with your tax adviser...but....

JUST FOR YOUR INFORMATION:

If you purchased a home in Downey, CA (or Long Beach, CA or anywhere in California) and NOW owe more than it’s worth...and...you want to short sell it... thanks to: "The Taxpayers Relief Act Of 2007*," you may not owe any income taxes if you short sell your home...but. . . there are some restrictions: it must be your primary residence and you must close escrow by 12/31/2012!

There is also a provision for those who short sell their rental in Downey, CA where you can also be excluded from owing income taxes on a short sale of a rental but like I keep saying, you need to talk to YOUR tax expert for tax advise or you can go to the IRS website!

In the past, if you had “debt forgiven,” the IRS would consider that "debt forgiven" that as income that you earned and wolud have report that on your income taxes as income to you and therefore pay income taxes on that "debt forgiven"... but... if you short sell your home and close escrow by 12/31/2012, the IRS will not count "debt forgiven" as income and therefore will not tax you as if you earned that income...

You may thinking: “oh, I have plenty of time to short sell my home in Downey, CA” but in this type of real estate market you never know how long it will take to get your home sold. If you price it right it will sell fast and if it’s in top condition it will sell even faster but even if you were to get an offer today, you still would not close escrow in 30 or even 45 days. Depending on they type of offer you get and how receptive or flexible or willing your lender is and depending on your bank negotiator; all that will dictate how long the escrow process will be. And then, there is always something that might cross your path and prevent you from closing on time. There are so many unknowns that it would be impossible to guarantee that your home in Downy will close escrow in 30 days, even if you get a CASH offer.

The escrow process is like having a baby, the doctor gives you a due date and rarely is it the actual date of delivery. Your escrow process could take up to three months, in some case even more, and the marketing time and negotiations with your lender can take up to a year.

So if you were planning on short selling your home in Downey, CA and you are thinking that there’s plenty of time to make that decision, please think very carefully because you may not have as much time as you think...."time waits for no man" and 2012 is just around the corner.

*Please make sure that you check with your tax adviser whether "The Taxpayers Relief Act Of 2007!” applies to you; only he/she can tell you for sure if you will or will not owe income taxes on the sale of your primary residence on a "short sell" of your Downey home.

Thank you for reading and for your comment.

Please visit my Website: www.PintoRealtyInc.com/ OR <Free Home Search: Click here!>

Sincerely,

Aida Pinto

Real Estate Broker/Notary Public {Direct: (562) 916-3237, Cell: (562) 884-6196} {United Associated Brokers, 11561 Paramount Blvd., Downey, CA 90241} {DRE Broker Lic. 00972295. In business since 1987 and proudly serving the Los Angeles County area} Disclaimer: The information given on this post, blog, website or any other site is solely for informational purposes. Aida Pinto is a California Realtor since 1987 and a real estate broker since 1994 and also a Notary Public since 1988. She is not an attorney nor a tax accountant and this is not legal or tax advise. All information provided by this Broker is deemed reliable but not guaranteed. Please consult with an attorney for legal matters or a tax professional. http://www.irs.gov/individuals/article/0,,id=179414,00.html