If EVER there was a reason to get off the fence and BUY YOUR HOUSE in California, this is it. We're talking a once in a lifetime, 24 karat golden opportunity to have the government subsidize your home purchase for up to $18000 in tax credits.
But the window of opportunity is EVER so brief if you are going to attempt to double dip and get both the state and the federal tax credits.
Here's how the double dip works: The federal home buyer tax credit for first time buyers states you must be in contract to buy your house by April 30th and close before June 30th to be eligible for the credit.
But a newly enacted California stimulus for home buyers actually OVERLAPS the federal first time home buyer tax credit!
You can also receive $10,000 in tax credits as a first time buyer, from the State of California for transactions that CLOSE after May 1.
If you have followed me so far (and there are 18,000 reasons to pay attention and follow) you have probably figured this out:
ADVICE:
Already in contract and set to close at the end of April? A delay of close until May 3 will not endear you to your Realtor or to your seller, but could qualify you for $10,000 in tax goodies (May 1 and 2 are a weekend).
If you are NOT already in a contract, you are going to need to contact a mortgage professional and get thoroughly pre-approved NOW. Make sure closing the loan before June 30th will be possible based on your situation. (60 days is NOT unreasonable for most loans).
Once preapproved, seek out a great Realtor who knows the ropes, will work FAST, and will work as a team with your chosen mortgage professsional.
Disclaimers: As a mortgage professional, I am not qualified to give tax advice. Please consult your tax advisor. Be aware there are income limitations on the federal tax return, and there could be other factors that limit your ability to receive the tax credits.
For more information, a speedy preapproval, or a referral to a great Realtor, call me at 925-552-3867.
The BLUEST thing in the garden
The Bluest thing on the lake (AKA husband's favorite toy)
Blue flip flops, blue sky, blue water. The perfect Friday night.
The REDDEST thing in the GARDEN.
The REDDEST thing over at the LEASING COMPANY.
Two little REDHEADS at our FAMILY REUNION.
The view from my house on the shores of Lake Tulloch includes a panoramic view of Connor Estates, probably one of the most beautiful collections of waterfront homes in California.
First time guests stepping out on my deck look out across the lake and gasp, "Those.....aren't really......VACATION houses.....are they?"
Well, quite actually, yes, they are.
They are million dollar plus houses that people do not live in full time.
With an amazing location only 2 hours from most places in the Bay Area, owning a waterfront house at Lake Tulloch, behind the gates of Connor Estates, just might be the ultimate antidote for the high stress lifestyle in the Bay Area.
After a hectic work week, you can arrive just in time to watch the sun set behind the table top mountain, and have a glass of wine as the moon rises over the lake.
Another fun weekend awaits.
Who says your primary residence needs to be bigger and better than your second home? For many of my Bay Area mortgage clients, their "trophy home" sits on Lake Tulloch. Their primary home may be far less grand.
And that's okay.
Maybe they plan to retire to their waterfront home. Maybe they see their second home as a way to bait children and guests to visit. Maybe they just prioritize their weekends higher than their work weeks?
Think they're on to something?
I do. Check out my view as the sun set over the lake last Friday night.
Want to know more about owning a waterfront property on Lake Tulloch? The home pictured in this post is currently on the market.
Would you like to discuss mortgage options for buying a first or second home at Lake Tulloch? I have great rates for JUMBO LOANS on SECOND HOMES. Yes, you can get a FIXED RATE!
Do you need a referral to a Realtor that can show you waterfront homes at Lake Tulloch?
I am Janet Guilbault, your Lake Tulloch Mortgage Specialist. I own a Lake Tulloch waterfront property myself, and have had the privilege of helping people just like you realize their dream of owning a piece of waterfront paradise. Call, text, or e-mail me today. My contact information appears below.
This 12 pound zucchini monster is shown next to my blackberry for a size comparison.
Garden trophy?
For some reason, my friends find the shape of this zucchini to be extremely funny.
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Mortgage Banker and direct lender based out of the San Francisco Bay Area. Positive and strategic thinker with over 25 years of experience in credit, finance, and real estate.
I'm Janet Guilbault, California Mortgage Expert based out of the San Francisco Bay Area.
When it comes to real estate, I am uniquely qualified to provide cutting edge strategies and solutions in the arena of mortgage financing.
I began my career as a Realtor at an early age, eventually being licensed in 3 states. My husband and I then became the owners of a successful auto leasing company here in the San Francisco Bay Area, Golden Bear Auto Leasing.
Here, I specialized in the financing aspect of the automotive business, securing auto loans and leases for hundreds of California individuals and businesses. My auto leasing clients were inherited by Howard Guilbault, my husband, and the President of Golden Bear Auto Leasing.
Coming full circle, I again joined the real estate industry, this time on the mortgage side, taking advantage of my expertise in the credit world, as well as my past experience as a real estate agent.
Having spent my entire career around the 2 biggest assets in most people's lives, I fully understand the emotional nature of such an important transaction, real estate negotiations, and the vital role of creating strategies to secure the absolute BEST financing scenario to meet both immediate and long term goals.
I have a Bachelor of Business Administration Degree, 25+ years experience as a California business owner, and have won numerous awards for outstanding sales, marketing, and client satisfaction. I have an extensive background in journalism, and have written extensively about issues related to buying, selling, and financing California real estate.
My mission is to use my years of expertise to provide the optimum solution to your real estate financing needs, and to be a trusted advocate and advisor, not only for one transaction, but for life.
To Realtors:
As a former real estate agent myself, I understand very well the trust and teamwork required to take a signed contract to a funded loan. After handling thousands of transactions during my career in the finance industry (including good markets, bad markets, and everything in between) I have developed success strategies that WORK for not only the buyer/borrower, but for the real estate agent as well.
Janet's Mortgage Manifesto:
1. THE TEAM CONCEPT. Real Estate Agent and Mortgage Professionals become a team when buyer is in contract, and a loan is in process. They work WITH each other, not AGAINST each other. This is applicable if real estate agent referred the mortgage professional, or if client chose the mortgage professional herself. Mutual respect is not only a professional courtesy, it is what the client deserves.
2. THE ULTIMATE GOAL. The stated GOAL of the team goes beyond F
UNDING the loan, and closing the transaction. It also includes providing such a good experience for our mutual client that they are eager to refer business, and become bonded to us as their real estate professionals.
3. THE GUIDING LIGHT. Decisions are made together based on this question: "What is best for the client?"
4. COMMUNICATION. There is no such thing as over-communication. Information about the progress of the loan should be provided to the real estate agent on a daily basis when the client is in contract. All calls are returned within the same day they are received. All questions are answered willingly, and both good and bad news are delivered promptly.
5. THE PRE-APPROVAL. A pre-approval letter should be DETAILED and not generic. These details should include exactly what documents the client has provided (income and asset verifications), an idea of credit scores, whether approval is from an automated source (DO/DU), an underwriter, or the mortgage professional. If conditions on the approval are outstanding, this should be stated as well. Type of loan, rate, and amount of loan are included, along with complete contact information for the mortgage professional.
6. THIS DOCUMENT SHOULD NEVER BE MISSING IN ACTION. Realtor should have access to the clients GFE (Good Faith Estimate), and mortgage broker should provide this document for review by the Realtor at the beginning of the transaction.
7. HOW TO ELIMINATE SURPRISES AT THE CLOSING TABLE. Closing documents should be provided to the Realtor AND the client BEFORE the signing via e-mail. There should NEVER be surprises at the closing table.
8. GIVING CLIENTS SECURITY AND SUPPORT WHEN THEY NEED IT THE MOST. Mortgage professional should be at the closing, in person.
9. PROMOTING THE REALTOR. Mortgage professional is the one handling the loan, NOT the real estate transaction, and never steps outside of this role. At every step of the way, the mortgage professional is there to promote the Realtor in the eyes of the client, and respects his authority in the transaction.
10. ON TIME AND HERE'S WHY. Time is of the essence, and every day matters when a contract is ticking. Loans close ON TIME because the mortgage professional provides a detailed time line to the Realtor from the beginning, and adheres to the schedule with the support of the Realtor.
"Lives up to promises and committments. An absolutely wonderful person"
Bill and Debbie Schaeffer, Copperopolis, California
" We liked her her knowledge of the mortgage industry and willingness to research various scenarios"
Diana and Michael Haven, Menlo Park, California
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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