Renee Baccaro

Even though we are currently experiencing economic challenges, there are proven strategies to help you sell your home. In addition a recent 2009 pulse survey sponsored by the National Association of Realtors show that 83% of Americans believe that buying a home today is a good financial decision and a sound long-term investment. More than 75% of Americans believe that now is a good time to get in to the housing market. Three-fourths of those surveyed also believe now is a good time to buy a home. In fact, one-third of renters are thinking more about buying a home than they were a year ago. Low prices, good housing selection, an $8000 tax credit, and historically low interest rates make buying more desirable then in the recent past. One major concern for most Americans is the money for the down-payment and closing costs. However many folks who were not able to buy a home in the past are able to buy a home in today's market.

For seller's planning to list their home knows that more then 5 million homes sold last year in the United States. However, remember buyers are looking for a bargain. This is no time to reach for the sky when selling your home. The majority of homes selling are distressed properties. Ask your Realtor about the comparable sales in your neighborhood for the past six months or less. Pricing is the number one reason buyers are buying right now. For the past year there has been a considerable inventory available to buyers. Sellers, if your home is listed substantially higher then the bulk of homes in your neighborhood...it is possible that is why your home is not getting any offers. Remember you may have to sell your home lower then you may like, but if you are planning on buying elsewhere, you will also buy for a lower price. That means property taxes will be lower as well. If you buy your next home for a lower price you will carry those benefits forward well in to the future. Look at the homes that are selling in your neighborhood and homes that are not selling. Ask your Realtor why? It may be price it may be other factors. If a buyer offers a higher amount for your home still it may not appraise at that price which means the buyer can't secure a loan and the deal will fall apart.

Not everything comes up Roses...two-thirds Americans are concerned about losing their jobs which keeps some from entering the market. California was hit hard by the economic down turn. Prices fell about 40% and was devastating for many. However, right now buying activity is going through the roof.

In January buyer activity in California was up 100% from a year ago, in February it was up 83%, in March 57% from a year ago. Up to 70% of homes sales in California are distressed properties. The reality is millions of people who were not able to buy in the past are buying now. Buyers are back; inventory is dropping fast which, is good news. February last year California home inventory was 15.3 months on the market. February this year inventory was 6.5 months on the market. How does this relate to the rest of the country? Because California was hit hard and fast, its' coming back shows what is going to happen to the rest of the country. Buyers coming back and inventory is shrinking show the market will eventually normalize. Values will stabilize and the market will again show increased quarterly measurements. 54% of California's who took the poll believe that California housing market will recover by the end of this year. Bringing buyers back in to the market is the first step. Low prices, low interest rates and the $8,000 tax credit has begun the healing process. Part two is getting rid of the excess inventory. That is happening. Step three price stabilization and eventually appreciation.

California I'm coming home!

Renee Baccaro Realtor®

$8,0000 Federal tax Credit to first time home buyers

If this doesn't get people off the fence then I just don't know what will. I believe perhaps it takes time for folks to absorb the actuality of it. If it seems too good to be true...? Well, this is not... one of those times. This is one of those times when if you don't take advantage of the window of opportunity YOU ARE GOING TO MISS THE BOAT. The American Recovery and Reinvestment Act of 2009 authorizes:

•· Anyone who has NOT owned a principal residence in the past three-years.

•· Not a vacation home, but primary residence. New or resale.

•· Title must close before December 01, 2009.

How is this home buyer tax credit different from the tax credit that Congress enacted in July of 2008?
The most significant difference is that this tax credit does not have to be repaid. For more information go to the link below. #8 on Federal Q & A site.

It is that simple.

What to consider:

If you're adjusted gross income is more than $75,000 or up to $150,000 (filing jointly), then your $8,000 tax credit will be reduced accordingly. Secondly, the tax credit is for $8,000, or 10% of the sales price. That means if you buy a house worth less than &80,000, you'll get 10% of the price.

Time Period:

January 01, 2009 to November 30^th, 2009. Your loan on that purchase must close during that time period. We are at the middle of July 2009 which means because escrows are now taking up to 75 days, it would be best if you got into escrow by August 01, 2009 in my humble opinion. Depending on several factors. If you are buying all cash it will be a faster transaction. But with current appraisal issues causing time delays on lenders part, I suggest you start ASAP. You must allow for the unknown in a real estate transaction. Especially if you are buying a REO or Short Sale. If you are involved in a short sale ask your Realtor about the time lines, where is the process at? You must have approval on price from the lender, a contract signed by the selling side to know you can make that dead line.

You can NOT:

•· Not - Use the money toward you down payment.

•· Not - use the money for your closing costs.

When will you received your credit:

File an amended tax return - to receive $8,000 -- right away. You do not have to wait until next year.

This program is available anywhere you live in the US.

Why? The administration did this because history repeats its self and it worked in the past. So here we are again, and so far it is working. Remember your home is the biggest investment of your life for most folks. They opportunities only come around once in a great while. We really don't want to be in this situation again anytime soon. So seize the opportunity today.

Link to most ask questions: http://www.federalhousingtaxcredit.com/2009/faq.php#1

Disclaimer: nformation here is deemed correct buy not guaranteed

Renee Baccaro Realtor®

July 12,2009

Most people don't do the simplest actions that can boost their scores monthly. Even people I have spoken to with great credit believe it is because they have never been late on a payment, or think that because they have financed a car, or two, or own their own home and only have 1 or 2 credit cards is why their credit score stays high. Well, that is only part of the reason. As a nation we have learned the hard way traveling through this devastating economic period that good credit awarness is life changing. Hopefully we are nearer to its end. One of the most important statements about you in 2009/20010 is your FICO score. Did you know your employer looks at your score? Well, if you work for a corporation, private big business, or for our government part of the eligibility process is that darn number. Now if you have explained a low number in your cover letter and it is believable, then you may skip through to the last group of interviews. However, if you need that job you had better learn a few tricks.

First, if you pay your credit card twice in a period of their month (30 days usually), you will get one point for each payment. In 12 months that is 24 points per card and payment.

Second, you need 3 major credit cards to increase your scores average. Visa, MasterCard or Discover. You DON'T have to use all of them. But buy opening new cards (after the initial drop in number) by 30 days later you will see a significant increase in FICO score, up to 20 points per card. What the bureaus are determining in their formula is if you can handle credit or not. Buy having 3 or more cards puts you in the range of their credit worthy formula. If you have too many revolving accounts open which, includes major department stores that can significantly reduce your average. Closing your accounts can negatively affect your number therefore, what you can do is stop using the department store cards. Cut them up and throw them away! Believe me that 10 ro 15% discount is going to be gobbled up rather quickly in the monthly interest payment.

Another fact if that you can not rent a decent apartment or home if you don't have a good FICO score.

Be credit wise!

If you would like more information please contact ReneeBaccaro@gmail.com I will be happy to assist you in learning ways to increase that ever important number.

Renee Baccaro Realtor & Notary

1. Washburns University of Law Super site! http://www.washlaw.edu/

2. The World Health Organization: http://www.who.int/en/

3. The US State Department: http://www.state.gov/travel/

4. Frommer's: http://www.frommers.com /

5. Virtual Tourist: http://www.virtualtourist.com/

6. CIA World Fact Book; https://www.cia.gov/library/publications/the-world-factbook/

7. Google Maps: http://maps.google.com/

8. Google Translate: http://translate.google.com/translate_t#

9. Currancy Site: http://www.xe.com/

AND OPRAH'S FAVORITE... SKYPE!

10. http://skype.com/

Brought to you by Renee Baccaro Realtor of OC...La Habra, La Habra Heights, Brea Hills, Brea, Buena Park, Whittier, and all surrounding cities..

Call for all your real estate and notary needs. (562) 972-9886

Now a days, you can't be to careful when preforming a notary. Did you know that you can now use a Government's employee's Id card that has been issued with in the last five years? The ID must have a photo of the person, a Number, and a discription of the person.

Also,, a subscribing witness can no longer appear before a notary public and prove identity based on personal knowledge. The subscribing witness must bring a credible witness. The credible witness must have identification, and prove identity by satisfactory evidence.

If you are in La habra, La Habra Heights, Fullerton. If you are in Orange County or Los Angeles County in Whittier, La Mirada, Buena park give me a call.

Link: http://www.sos.ca.gov/business/legislation/2008.htm#notary

Renee Baccaro Realtor & Notary Public and Loan Signing Specialist

(562) 972-9886