Saratoga, CA

Saratoga Senior Salvation-A Tax Credit for Move-DOWN Saratoga Buyers

By Michelle C. Carr-Crowe

Lost in the hoopla about extending and expanding the "up to" $8,000 credit for new homebuyers is the credit for existing homeowners. In my opinion, this can be "Senior Salvation" - a tax credit for move-DOWN Saratoga buyers.

I called my broker, my local real estate board, the California Association of REALTORS®, and even the IRS to ask my question: does this credit apply for move-down buyers?

So far the answer is, "As long as they qualify and have a tax to apply the credit to, it looks like YES."

To summarize:

•1. A first time homebuyer is one that has not owned a home for at least three years.

•2. A repeat homebuyer must have owned their current home for at least five consecutive years out of the last eight years.

•3. The maximum purchase price for the new home is $800,000.

•4. If single, your earning maximum to qualify is $125,000; if married, it's up to $250,000.

•5. There's no gap between the prior deadline (November 30th) and the new credit period, which ends April 30th.

•6. While you must be in a contract to purchase your new home on or before April 30^th, you have until June 30th to close the transaction.

•7. To prove you qualify, you'll need to attach proof of purchase to your tax return (most likely a HUD-1 or final closing statement).

Caveat: please, please check with your tax professional and attorney before making any real estate commitments.

However, this may finally be a tax credit that helps seniors who've lived in their homes for more than five consecutive years of the past eight.

For example, a senior couple selling a 1.5 million dollar single family home in Saratoga Lynbrook they've owned for the past 10 years, then buying a single-level 3 bedroom condo in San Jose for $650,000 not only get to keep their $500,000 tax-free capital gains benefit and transfer their tax basis, they can also now use up to $6,500 as a tax credit.

Saratoga Votes to Support Measure G But Not Enough to Pass

By Michelle C. Carr-Crowe

At 7:00 pm tonight we were surprised when the home phone rang. A Fremont Union High School District student called to remind my husband to vote on Measure G tonight. Our daughter who attends high school in the district had also made calls like this, so we were familiar with the campaign. We'd talked to another volunteer this past weekend in fact. They weren't taking any chances, even with just an hour to go, volunteers were putting full effort forth.

Their persistence paid off. With 59 percent voting yes, Measure G reached majority.

However, it needed 2/3 approval to pass.

Whether you live in Saratoga, Cupertino, San Jose, Santa Clara, Sunnyvale or Los Altos, your property's value benefits from being in the Fremont Union High School District (commonly referred to as "Cupertino Schools"). http://www.fuhsd.org

Measure G was basically an extension of the existing parcel tax at the same amount of $98, which is set to expire, as well as an annual adjustment for inflation.

NOVEMBER 3, 2009: MEASURE G
To provide stable, local funds needed to protect teaching positions, and assure that Cupertino, Fremont, Homestead, Lynbrook, and Monta Vista High School students are prepared to successfully compete for college admission, shall the Fremont Union High School District replace its existing, expiring parcel tax with a tax at the same annual rate of $98 per parcel to be adjusted annually for inflation, with all funds benefitting local high schools, and offering an exemption to seniors and the disabled?

According to information for the 2007-2008 Fiscal Year from the California Dept of Education, following is some basic information on district funding dollars per student as compared to all of California as well as other nearby districts with high-performing academic scores.

Fremont Union High School District $9,255

Statewide Average for all High Schools $9,433

San Jose Unified $9,818
Los Gatos-Saratoga HS $11,264
Mountain View- Los Altos HS $12,699
Palo Alto Unified - $13,509

Thank you to the teachers leading and helping our students. Thank you to the students who volunteered to cold-call people they didn't know and ask them to vote Yes on Measure G. Thank you to the voters for making their voices heard.

Saratoga Residents with Cupertino Schools, Lynbrook High-Remember to Vote on Measure G Today!

By Michelle C. Carr-Crowe

Whether you live in Cupertino, San Jose, Santa Clara, Sunnyvale or Los Altos, your property's value benefits from being in the Fremont Union High School District (commonly referred to as "Cupertino Schools"). http://www.fuhsd.org

Today, Measure G is on the ballot. Below is a synopsis of the proposal. Basically, it is an extension of the existing parcel tax at the same amount of $98, which is set to expire, as well as an annual adjustment for inflation. The measure exempts homeowners who are seniors and/or disabled. Please remember to exercise your right to vote today!

NOVEMBER 3, 2009: MEASURE G
To provide stable, local funds needed to protect teaching positions, and assure that Cupertino, Fremont, Homestead, Lynbrook, and Monta Vista High School students are prepared to successfully compete for college admission, shall the Fremont Union High School District replace its existing, expiring parcel tax with a tax at the same annual rate of $98 per parcel to be adjusted annually for inflation, with all funds benefitting local high schools, and offering an exemption to seniors and the disabled?

According to information for the 2007-2008 Fiscal Year from the California Dept of Education, following is some basic information on district funding dollars per student as compared to all of California as well as other nearby districts with high-performing academic scores.

Fremont Union High School District $9,255

Statewide Average for all High Schools $9,433

San Jose Unified $9,818
Los Gatos-Saratoga HS $11,264
Mountain View- Los Altos HS $12,699
Palo Alto Unified - $13,509

Be an informed voter and make your voice heard! Polls close tonight at 8:00 pm.

Saratoga Ca Homes for Sale Week Ending 10-31-09

Saratoga 95070

Saratoga Ca Condos for Sale Week Ending 10-31-09

A Saratoga California home buyer and Saratoga California home seller definitely want to consult with an expert who understands Saratoga California Real Estate Market Trends and statistics. Knowledge is power and the key to making informed home buying and home selling decisions.

Chances are, you or someone you know in Saratoga California is facing the possibility of foreclosure. But you need to understand that you are not alone.

Today, 1 out of every 10 homeowners in America is behind on mortgage payments. These are tough and frustrating times. Now more than ever, it's important to identify your options. Foreclosure can be avoided, your credit can be saved, and your financial future can be salvaged.

As an agent with the CDPE® Designation, I have a strong and unique appreciation of the factors affecting the market, and know that there are options available for struggling homeowners. If you, or someone you know want to learn more about the alternatives to foreclosure, please visit San Jose Short Sale Specialist.

We are here to help … in any way we can.

If you prefer to consult with a Spanish speaking agent then request to speak with Juan. Juan is a 10 year real estate veteran fluent in Spanish.

Receive Silicon Valley-San Jose MLS Property Alert and make your Saratoga California home search easy with a one site home shopping experience providing access to ALL listings, including short sales and bank owned homes.

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Copyright © 2009, All Rights Reserved by Kathleen Daniels *Saratoga Ca homes for sale October 31, 2009*

The interactive property search tool below allows you to search Saratoga Ca homes for sale. Simply change the search criteria to create a new search!

Saratoga High Homes Mini-Update 10.13.09

All of the following homes are reported to be within the Saratoga High School area. To see any of these homes or obtain details, Just Call 408.252.8900.

Condos & TownHomes: 11

All info deemed reliable but not guaranteed; buyer to verify.