Dianne Hicks

Will a $6500 Tax Credit Get You Moving.




Have you been thinking about Moving Up or Downsizing? Well... I think with the tax credit incentive there is not a better time than NOW!!! Here is some info on the Tax credit to help you decide.

If you have owned a home as your primary residents 5 out of the last 8 years, you may qualify for a $6500 tax credit. There is a cap, the house your purchase cannot exceed $800,000. Here is a link to NAR for the entire scoop on this http://www.realtor.org/home_buyers_and_sellers/2009_first_time_home_buyer_tax_credit


Here is a quick snap shot in a chart
http://www.realtoractioncenter.com/realtor-party/documents/2009-NAR-Issue-Brief-Homebuyer-Tax-Credit-Changes-1104-1107.pdf

Here is a link to some frequently asked questions about the tax credit http://www.realtor.org/wps/wcm/connect/d336a1804033a163816af5205f470b6e/government_affairs_tax_credit_FAQs_110509.pdf?MOD=AJPERES&CACHEID=d336a1804033a163816af5205f470b6e

If you are confused, just give me a call. You can also call your accountant, they will know if you qualify.

But wait...there is more ,think about it, there IS more to consider.
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If you have been watching you know that house prices have been slowly making their way back up again. Let's say that they go up next year by 11% which is what some have been predicting. Here is an example that will help you understand the effect of that.

Let's say your house is worth $300,000 and the house you are interested in is $375,000.
Your current house ($300,000 x 11% estimated gain in a years time) = 33,000
Your new house ($375,000 x 11% estimated gain in a years time ) = $41,250

If, the houses were to go up buy 11%, You would have gained an additional $8,250 in equity if they went up by the same value. That is on top of the additional $6500 for a total gain of$14,750. Purchase price difference of $75,000.

If you wait a year to buy.....Let's say you don't move for another year and then decide to move and we will use the same dollar values for the house
 You will sell your house for $333,000 and you will pay $416,250 for the house you wanted. The purchase price difference will be $83,250 with no additional gain of equity.

Instead of gaining $14,750 you will pay an additional (83,250 - 75,000) = 8,250 to purchase that same home. So the overall difference....it will cost you  an additional $23,000 to move in a year based on the figures and percent estimates presented. And that is not counting the additional interest you will pay for that additional 8,250 so it even will compound to be a bigger number.

Soooo, if you are thinking about moving, NOW is the perfect time. This tax credit is NOT expected to be extended past April.

Indian Casinos Give Back Millions to Inland Schools, Needy and Nonprofit.




Indian Tribes have shown their generosity again and again giving to our schools, needy and nonprofit organizations. There was an article in the Press Enterprise yesterday, written by John F. Hill. I think their contributions deserve some special thanks and some well recognition because I personally think it is noble and generous. Their gifts seen to focus on well being of children in our communities and schools as well as the needy in general.

Their generosity is not for public....it is from true, genuine giving back which is ancient and sacred to them.
This is not all of their donations but a snapshot of some the good wealth they have been so kind to spread around which I think deserves some appreciation and a big thank you. They do not have to give it but they do and I for one love people who give back! 




Pachanga - Donated 1.5 million dollars to the Boys and Girls Club here in Temecula and French Valley in 2005. Pachanga has also given about 2.5 million dollars to southwest Riverside County High Schools since 1998. They also gave $250,000 in scholarships to students in the Los Angeles area. Pachanga also has donated for at least the past 6 years $50,000 to local schools. This year it was cutback to $35,000 not because they are less generous but because their business like other businesses have been affected by the economy.

San Manuel gave a whooping 3 million dollars for a state of the art new football stadium and tract at San Gorgonio High school in San Bernardino in 2007.

Soboba donated $400,000 towards the Public Library in Hemet in 2003. In addition Soboba has decided to give more when the economy tanked because the need was greater.

Next time you visit one of these Casinos, take a moment to say Thanks for sharing!

Pics are from Photobucket by erzso

Great News.... $8000 Tax credit Extended until April.




Just waiting on Presidents signature and then it is a done deal. .
Great New.... $8000 Tax Credit Extended. If you want the $8000 tax credit, You must have signed purchase contract by April 30th and must close no later than June 30th. That is great news for all those trying find their home and are not in escrow yet.

Also a reduced credit for $6500 for new home buyers that have owned their own home for at least 5 years.

Great news for anyone wanting to take advantage of free money to help you along.

For all you VA Buyers here in Temecula & Murrieta CA

My Top 10 List on How to to get an edge up to Buy a Home using your VA Loan



Temecula and Murrieta are beautiful places to live with affordable home prices, many great amenities and so close to Military bases. Here is some info on Temecula in case you are unfamiliar or new to the area.
I realize that for many VA's it has been a struggle to get a home here in Temecula and Murrieta. This is due to a couple of reasons the main reason is that this is such a competitive market and the other reason is how you are presenting your offers. I hear some discouragement and frustration from some VA buyers so I thought it was worthy of presenting you with some ideas to help you along even if I am not your Realtor.
 
I have had several VA's accepted offers in the past couple of weeks so I know it can be done. I thought I would share with you some ideas to help you improve your position in this crazy market.


1.). If bidding on a bank owned....I do my research on bank owned agents and see if they accept highest and best  which includes FHA and VA buyers.  I try to show properties that have a better chance for VA loans getting accepted by the banks owned agents. This gives me a better approach and what your realistic chances are for a VA home buyers.

2.). Go after the standard sales, especially what we call flippers. A flipper is an investor who has purchased home from bank, perhaps fixes it up a bit and then resales quickly. Most flipper homes cannot go FHA due to a 90 day flip rule (meaning FHA will not allow buyers to buy home within a 90 day period of last sale). This eliminates all FHA buyers from purchasing these homes and generally investors do not like them because the flipper wants a price that is generally at the top edge of comps.(comps are what similar homes have recently sold for). Here in Temecula and Murrieta we currently have a lot of flippers.This are great for VA buyer to bid on and with much of your competition not in running puts you in a better position.

3.) If going after a standard sale by a home owner, do not ask for closing cost. They do not like to pay them. Most will consider VA if it does not cost them too much extra.

4.) Go after short sales. They are not my favorite because of the time and no guarantee(a subject for later). I do like them for the reason that you may get a better deal then the bank owned and standard sales and most will accept a VA. So here is my approach..I often place backup offers on homes that have been on the market a while. You will be amazed at the amount of buyers that walk away leaving you in a great position to purchase that home. Yes, you must have your patient hat on but could very well be worth the wait.

5.)If not dealing with a bank or a flipper, write a personalized letter, letting them know about you and your family. Explain why you love their home. Sometimes it works, sometimes it doesn't but dot your i's and cross your t's to put you in best position. It personalizes and humanizes you in a way that they may feel more connected to you. People always like to hear when someone likes their home and many want someone that will be moving in to have that same love for their home as they do.

6.)IF you are asking for closing cost, make sure that the amount you are asking for includes for the non-allowables. This puts you in the same position with others asking for closing cost. Usually the biggest disadvantage is that they have to pay addition non-allowable fees for VA loans. This puts you on the same playing field with those others asking for closing cost. Of course the better position is to not ask for closing cost but not everyone is in that position so present it in the best way you can if you must ask.

7.) Here in Temecula and Murrieta, it is a very competitive market. Do NOT just look at listing price, you must look at comparative recently sold homes to make sure you are offering a competitive price. Forget about list price and offer fair market value,This is a must!

8.)If you FICO scores are good, summit them even if they don't ask. It lets them see that you are financially responsible. That is always great for them to know. If FICIO scores not so good, only submit when they insist. As a VA you must present yourself in the best light and good FICO's are a factor worth presenting. They don't want to run into loan issues down the road.

9.)Get you loan lined up with your lender so you can remove contingencies in 10 days instead of 17 days or more. They do not want to get into escrow and find out you cannot qualify 3 weeks down the road. 10 days is much more enticing to many and will also allow you to close faster.

10.)Be patient, it will make for a more pleasant experience. Know up front that as a VA this may be a little more challenging and this may take a little more time but the end result will be worth it.

There it is and I hope this helps. If you need my assistance, I am here. I work with an associate so that we can give you the best attention possible. I find in this crazy market 2 Realtors are better than 1 in this crazy market to give you the best service.

I Promise You a Rose Garden... Here in Temecula with very little effort.
If you love roses and want to grow them in Temecula, it is as easy as pie. What's up with that statement, pie is not always easy, but growing roses here is!

The weather here in Temecula is perfect and roses love it. They usually bloom at least 10 months out of the year. Beautiful and such a pop, easier maintenance than most people think. Cut them all back in Jan and feed em in the spring and poof, they flourish. Just trim em back after bloom and they should bring you more.Check out the Temecula Valley Rose Society for a boat load of information.


Do you have a house with a little boring architecture? Just plant a climbing rose and and jasmine on 2 side in the front. There are some little plastic eye hooks(you can get at home depot) that you can glue on to help train it to go up and over in an arch. You can purchase clear ones so you don't even see them. You don't need anything else to help shape it. The reason I suggest planting both a climbing rose bush and a jasmine plant is because the jasmine will be green year round, not to mention the beautiful fragrance when it is in bloom that it will add. And... if you really want a spectacular look add a clematis to the the mix for fabulous blooms, there is a variety to choose from and so you are the artist making that great pallet of color. They die back but will come back the next year and with the roses and the jasmine you will never notice the die back of the clematis.


Whether you want just a couple of rose bushes for a pop or add them all over, they are sure to bring pleasure to the eyes.

Here in Temecula, there is a great selection when the bare root roses come out at Armstrong's, Home Depot or Lowe's. If you don't see a big enough variety you can always buy bare root roses on the Internet.


I love this pic because it looks like a rainbow of Roses.
There are so many great plants that compliment roses, so mix it up by adding other plants to set off the roses. I always think Saliva is a great choice. Also delphinium and foxglove look fabulous. Experiment and have fun with it and add a little curb appeal to the wonderful place you call home!