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What is a “Green” Home?

According to the Santa Monica OSE (Office of Sustainability and the Environment), a  “green” building places a high priority on health, environmental and resource conservation performance over its life-cycle. These new priorities expand and complement the classical building design concerns: economy, utility, durability, and delight. Green design emphasizes a number of new environ-mental, resource and occupant health concerns:

  • Reduce human exposure to noxious materials.
  • Conserve non-renewable energy and scarce materials.
  • Minimize life-cycle ecological impact of energy and materials used.
  • Use renewable energy and materials that are sustainably harvested.
  • Protect and restore local air, water, soils, flora and fauna.
  • Support pedestrians, bicycles, mass transit and other alternatives to fossil-fueled vehicles.

Most green buildings are high-quality buildings; they last longer, cost less to operate and maintain, and provide greater occupant satisfaction than standard developments. Sophisticated buyers and lessors prefer them, and are often willing to pay a premium for their advantages.

What surprises many people unfamiliar with this design movement is that good green buildings often cost little or no more to build than conventional designs. Commitment to better performance, close teamwork throughout the design process, openness to new approaches, and information on how these are best applied are more important than a large construction budget.

Sustainable Home Examples

While these homes are not located in Davis, California, they do serve as inspiration.

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39664 Covey Court – North Davis Living on the Green

Impressive custom one story on a huge almost one acre lot in North Davis Meadows. Enjoy the deck over looking your beautifully landscaped yard with pool and spa. Inside, walk into a lovely formal living & dining room with vaulted ceilings and wood floors, a kitchen with granite slab countertops and stainless steel appliances. The HVAC is about 3 years old. Also, fire sprinklers and an area for RV parking. It’s all designed for the good life and you can walk to the first tee.

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Buy Vacation Home in Haste, Regret at Leisure

With vacation home purchases on the upswing, here are some things that potential buyers should ask themselves:

* What will the maintenance costs be? They’ll have to pay them even when they are not there.
* Does the weather drive up insurance and other costs?
* How popular is the area? Will hoards of people make coming and going difficult?
* Is getting there no fun? Some isolated places are really beautiful, but the airport is a long way.
* Will all the grandchildren or other welcome visitors fit? Or is this vacation home just too small?
* Can it be rented? If an owner needs to reduce costs, is there a market?
* Do they really want to go there every weekend?

Source: The Wall Street Journal, Sushil Cheema (03/29/2010)

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There is Still Time to Claim Your Homebuyer Tax Credit

The April 30, 2010, deadline is fast approaching to have purchased – or be under a binding contract to purchase – a home and still receive a tax credit under the best government-sponsored homebuyer incentive program to come along in decades. After that deadline, the program will most likely disappear for good.

Do You Qualify?
Under the federal program, first-time homebuyers can receive a tax credit of up to $8,000, and current homeowners can receive a tax credit of up to $6,500 when they buy a home as their principal residence.

  • A first-time homebuyer is defined as someone who has not purchased a primary residence in the past three years.
  • Current homeowners must have lived in the same principal residence for at least five consecutive years out of the eight years leading up to the date of the purchase to qualify.
  • The extended credit applies to homes purchased between Nov. 7, 2009 & April 30, 2010.
  • Form 5405 must be completed & filed with your taxes in order to receive the tax credit.

Anyone who knows me knows I have a pet peeve about over use of  exclamation marks…  But. really, time is running out. The time to act is NOW – without delay!

If you have any questions or are simple ready to get out there and start seriously looking to invest in your future and property, contact Carmen at 530.601.1003 and let’s get moving in the right direction.

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Top Five Davis Homes Under $400,000

Central Davis CottageWith home mortgages harder to come by, many of my buyers are determined to stay within conforming guidelines and purchase at or under $417,000.  In Davis, California, however, the real estate market has not suffered the same fate as its neighbors in West Sacramento or Woodland and home prices, while having dropped, are still relatively higher than the surrounding areas.

With few homes on the market under this $417,000 this price range, I thought I’d bring my top five to your attention– all with honest feedback, something you might not necessarily find on MLS.

For more information regarding these homes download the flyers here, or give me a call at 530.601.1003 to schedule a private viewi

Top Five Davis Homes Under $400,000

3001 Bryant Place: This three bedroom, two bath home is a Fannie Mae, Bank Owned Property, not something we typically see in the city of Davis, but becoming more prevalent. The home appears to need some exterior work needed, but nothing perhaps major. I would suggest a Pest Inspection to find out the health of this home’s exterior. In any event,  h good paint job, both in and out will make a world of difference for Bryant Place.  Being a Fannie Mae listing, the home comes with a with a two year home warranty– something else you are likely to see in an REO. Offered at  $399,500

K Street Cottage, Central Davis

427 K Street: Adorable, Central Davis cottage home. Has loads of character and charm that most architecture in Davis simply does not.  Built in the 1920’s, this home has had some upgrades, including newer wiring in 2009 and dual paned windows in 2003.  Natural lighting throughout and big windows makes this home one of my favorites on the list.  There is an engineering report out there that indicates the home is in need of some foundation retro-fit. This is not uncommon with homes of this age.  Heck, if I had come to be in 1920 I might be in need a retro-fit  myself… Offered at $395,000.

5072 Veranda Ter: This townhouse is attached, but has a cozy, “home” feel to it, so I included it on the list… clean, move-in ready, fireplace and a private backyard. Priced well at $335,999.

1400 Whittier Drive: This traditional East Davis home has a lot of potential. Certainly livable as is, but upgrades throughout, from fixtures to uniform flooring, would pull this would-be cutie, together.  The good news is at $334,900, even with the needed upgrades, you’d have yourself  a great buy.

Javier Place, East Davis Home

2721 Javier Place: Another bank owned property on our list today. Javier, right off of  Tulip is situated in the newer part of East Davis. This home is in much better condition than our first REO property on Bryant Place, and is a much better deal– just look  at the pricing. Quiet, clean, with a good sized, corner lot. Offered at $359,000.

Want more information on these homes? Click Here or Contact Me Today.

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$8,000 First-time Home Buyer Tax Credit at a Glance

Actively working as real estate agent in Davis, CA,  I’ve had the thrill of meeting many of my online blog readers in person. after more than one request, I’ve decided to deliver.

Basics of the $8000 Federal Tax Incentive for First Time Home Buyers

  • The $8,000 tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
  • The tax credit does not have to be repaid unless the home is sold or ceases to be used as the buyer’s principal residence within three years after the initial purchase.
  • The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
  • The tax credit applies only to homes priced at $800,000 or less.
  • The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify.
  • For homes purchased on or after January 1, 2009 and on or before November 6, 2009, the income limits are $75,000 for single taxpayers and $150,000 for married couples filing jointly.
  • For homes purchased after November 6, 2009 and on or before April 30, 2010, single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

The $6,500 Move-Up / Repeat Home Buyer Tax Credit at a Glance

  • To be eligible to claim the tax credit, buyers must have owned and lived in their previous home for five consecutive years out of the last eight years.
  • The tax credit does not have to be repaid unless the home is sold or ceases to be used as the buyer’s principal residence within three years after the initial purchase.
  • The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $6,500.
  • The tax credit applies only to homes priced at $800,000 or less.
  • The credit is available for homes purchased after November 6, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, the home purchase qualifies provided it is completed by June 30, 2010.
  • Single taxpayers with incomes up to $125,000 and married couples with incomes up to $225,000 qualify for the full tax credit.

If you have any questions regarding the first time home buying process, please do not hesitate in contacting me, Carmen Isais, or calling me directly at 530.601.1003.

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2724 Ottowa Drive – West Davis, CA

Enjoy 5 acres in the country just 3 miles from Woodland & minutes from I5 & I505. Light & open this home has been renovated with new paint, fixtures, appliances, wood floors, & Richlite counter tops. Enjoy outdoor living with a large partially covered patio, swimming pool, & landscaped paths with roses, fruit trees, & herbs. Newer roof, HVAC, well pump, plumbing, & septic. Oversized 2-car garage, dog runs, livestock/horse barn, & partial basement.

Schedule a private showing today. Call Carmen 530.601.1003.

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What the Heck is a Short Pay Refinance?

short+Pay+Davis+CA+Real+EstateThere is a new buzzword being used in today’s real estate market, that term is Short Pay Refinance.

Most of you have not heard about this.  It is a new approach were a new lender negotiates on your behalf  with your current lender to pay less than the full amount for the pay off of the existing loan. This is not a loan re-modification. This is a new loan with new terms and lower balance.

This is an amazing concept, basically you get to buy your home again at the current market value.

For more information call Carmen Isais at Keller William’s Realty in Davis : 530.601.1003 or email: carmen@focusondavis.com

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