Like all California's we woke up this morning with our "fair share" of California's excessive spending and horrific budgeting on our personal tab, waiting to be paid.
Here's a summary of the direct hits to your wallet:
1. What is the "temporary" sales tax?
It's a 1% increase in our sales tax, beginning April 1 and ending ... well we don't know yet, but no sooner than June 30, 2011.
Real Life: If you typically spend $1,000 in taxable items a month, you'll be paying an extra $120 in sales tax each year.
2. How will the vehicle registration increase affect me?
Starting May 19, the vehicle registration fee increases from 0.65% of the vehicle's value to 1.15%. This increase is supposed to expire June 20, 2013.
Real Life: If you were paying $130 on a $20,000 vehicle now, you'll be paying $230 now.
3. How about that .25% increase in income tax?
This appears to be retroactive to January 1, 2009
Real Life: If you have $75,000 in taxable income, that's an extra $187.50
4. The dependent tax credit is reduced by $210
In total, a family of four earning $75,000 can expect about $1,000 in additional state taxes a year.
And while I detest excessive government spending, it seems education should be the last place to take the hit, but alas that is not the case.
That's all for now.
Nancy Moeller, CPA, Real Estate Broker
Seven Gables Real Estate
Direct: 714 276-7006
February 13, 2009 Update: While it started out with more promise, a higher credit and broader reach, at least there is something in the stimulus bill that will boost buyer demand and help the housing market.
Here are the details of the current proposal without the fluff. Remember, it's not "official" yet so some of these details may change in the week to come.
Please continue to check back as I will continue to blog current and relevant details.
Nancy Moeller, CPA, Real Estate Broker
Seven Gables Real Estate
Direct: 714 276-7006
As of February 8, 2009, the following properties are bank owned and active listings in Anaheim Hills (92807, 92808). For more information on any of these properties, please call me directly at 714 276-7006. To register to receive daily updates of bank owned properties in Anaheim Hills and Orange County, register at www.OCBankDeals.com
| Type | Address | Bedrooms | Baths | Size (sf) | Year Blt | Price |
| CONDO | 1765 N Cedar Glen Dr A | 2 | 1/1 | 886 | 1975 | $210,000 |
| CONDO | 1735 N Rainwood Cir C | 3 | 2/1 | 1,068 | 1973 | $219,900 |
| CONDO | 5427 E Pine Ridge Way 239 | 3 | 2/2 | 1,100 | 1978 | $219,900 |
| SFR | 5626 E Vista Del Valle | 2 | 2/1 | 1,116 | 1973 | $349,900 |
| SFR | 4905 E Holbrooke St | 4 | 2/1 | 1,550 | 1969 | $375,900 |
| SFR | 6027 Queens Dr | 3 | 3/2 | 1,390 | 1987 | $399,900 |
| SFR | 6207 E Northfield Ave | 4 | 2/2 | 1,404 | 1973 | $419,000 |
| SFR | 6139 E Camino Correr | 4 | 2/1 | 1,606 | 1973 | $449,900 |
| SFR | 7695 E Camino Tampico | 4 | 3/2 | 2,074 | 1976 | $484,500 |
| SFR | 6471 E Shady Valley Ln | 4 | 3/2 | 3,127 | 1977 | $584,900 |
| SFR | 124 S Martin | 5 | 4/3 | 4,728 | 1990 | $1,589,000 |
Nancy Moeller, CPA, Broker Associate
Seven Gables Real Estate
Direct: 714 276-7006
When looking at the housing market, it's important to isolate the cities, zip codes or neighborhoods which matter most to you. In this report, we have captured current supply, demand and closed sales in Anaheim Hills (as defined by zip codes 92807 and 92808).
Demand is the number of properties placed in escrow in the last 30 days.
1. Overall Market = Buyer's Market
There are 234 properties on the market in Anaheim Hills. 46 properties went into escrow in the last 30 days, which gives us a 5 month supply of inventory (234 divided by 46).
Please note that the picture changes when we isolate our search to just bank owned foreclosure properties.
2. Bank Owned Foreclosures = Deep Seller's Market
There are 11 bank owned properties on the market in Anaheim Hills. (Register to receive daily updates of bank owned foreclosures at www.OCBankDeals.com) 10 bank owned properties are currently in escrow, which gives us a 1.1 month supply of bank owned inventory (11 divided by 10). This is a deep seller's market. We are finding that bank owned properties are priced the most aggressively and typically receive multiple bids.
For more information about the Anaheim Hills Housing Market, feel free to give us a call anytime.
Nancy Moeller, CPA, Broker Associate
Seven Gables Real Estate
714 276-7006
When looking at the housing market, it's important to isolate areas which matter most to you. In this report, we have captured current supply, demand and closed sales exclusively in Orange County, California.
Demand is the number of properties that went into "pending" status in the last 30 days.
Current Snapshot - Orange County:
1. Overall Market = Buyer's Market
As of January 31, there are 12,005 properties on the market in Orange County. 1,484 properties went into pending status in January, which gives us a 8.1 month supply of inventory (12,005 divided by 1,484). This number is down approximately 30% from December, showing a significant drop in demand.
6 months is considered an equilibrium market, favoring both buyers and sellers. Overall, the Orange County market is currently back in a buyer's market. (Last month we reported an equilibrium market as the supply was closer to 6 months).
Please note that the picture changes when we isolate our search to just bank owned foreclosure properties.
2. Bank Owned Foreclosures = Deep Seller's Market
There are 1,038 bank owned properties on the market in Orange County. (Register to receive daily updates of bank owned foreclosures at www.OCBankDeals.com) 803 bank owned properties are currently in escrow, which gives us a 1.3 month supply of bank owned inventory (1,038 divided by 803). This is a deep seller's market. We are finding that bank owned properties are priced the most aggressively and typically receive multiple bids.
3. Short Sales = Buyer's Market
There are 3,894 short sale properties on the market in Orange County. These are properties in foreclosure that require a lender(s) approval for the owner to accept an offer for less than what is owed on the property. Only 317 short sales properties closed in January. This is a buyer's market which requires patience and an experience short sale agent, but can result in substantial savings.
For more information about the Orange County Housing Market, feel free to give us a call anytime.
Nancy Moeller, CPA, Broker Associate
Seven Gables Real Estate
714 276-7006
*All reports are published Feb. 2009, based on data available at the end of Jan. 2009.
This representation is based in whole or in part on data supplied by the MRMLS/SCMLS or their member associations/brokers. Neither the MLS nor their members are in any way responsible for their accuracy. Data maintained by the MLS or their members may not reflect all real estate activity in the market. Information deemed reliable but not guaranteed.
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As a CPA, REALTOR® and financial expert, I focus on protecting our clients financial interests in the sale.
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