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.

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.

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.

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.

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

• Old-fashioned basics are more important than ever. The safest way to purchase a home is to put down 20 percent on a fixed-rate, 30-year (or less) mortgage.
• Don’t become overconfident about income growth. Even though buyers in their 20s and 30s will likely see their incomes grow more quickly than previous generations, it is important to act sensibly when borrowing.
• Anyone contemplating adding children to the family should calculate whether they could live on one income because having both halves of a couple work may turn out to be impractical.
• Include a maintenance budget. Even new homes need upkeep and repairs.
• Buyers who can’t afford their dream home now should opt for a starter home where they can save money each month for what they really want.
• Consider a property that can be expanded and improved down the road when money is available.
• No two buyers are the same, but they should all feel confident with the loan they enter into, no matter the size of the mortgage.

\Source: The New York Times, Ron Lieber (09/12/2009)

I’m not an e-Pro.

For those of you who don’t know what I’m talking about, an e-Pro is a real estate designation given after taking an approved course from NAR, the National Association of Real Estate. After paying some amount of money for said designation, and after looking over the course work, I quickly saw I had been had– and so was the public, if they cared much about this particular designation. In short, if I took and learned anything at all from the e-Pro course it would mean I wasn’t nearly qualified to market your property on the Internet. If you are interested as to why this is, read Real Estate Tomato’s, “e-Pro is a Tinfoil Badge”.

And if you want to see what I’m doing instead of studying to be an e-Pro, take a look at my list….

Top Ten Things I Do As a Realtor Instead of Studying for the e-Pro Designation

1. Posting via postletts and quickblog, New Listings every week  to Posterous, Craiglist, Sac News and Review and more.
2. Updating my Hyper Local Real Estate Blogs to showcase new listings and find my sellers buyers who, might be other’s agent’s clients, but visit my site regularly for updated information.
3. Exposing your home, should you sell with me, to Zillow, Trulia, Realtor.com, Facebook Marketplace and Craiglist audience– because these online venues are visited more often by home buyers than traditional print advertising.
4. Texting, facebooking, emailing, and twittering my clients to keep them abreast of any market changes in the quickest, cleanest communication method they are comfortable with and…
5. Oh yes, I actually still phone clients and even better, meet with them face-to-face.
6. Creating out-of-the-box virtual presentations of your home and embed them on mutiple sites from Vimeo to You Tube, From Blog posts to Facebook– NOT just MLS.
7. Networking online with literally hundreds of agents from San Francisco to Pollock Pines, From Sacramento to Los Angeles to expose your home to the largest market possible– NOT just Davis.
8. Holding your home open,  personally, because despite it all, there is no replacement for the face-to-face. And along those lines…
9. Networking offline with Realtors, Mortgage Brokers, CPA’s and other professionals making “keeping the deal together” much easier should things get rough– and they do.  An agent with good social skills and the ability to negotiate calmly is harder to find than you might imagine.
   
10. Keeping it real. Today’s market is a tough one. Seller’s might not want to hear that their property cannot sell at “X” price, and I know you can find an agent who will tell you exactly what you want to hear. But, I promise you, unless your agent is being straightforward and genuine– which includes sometimes delivering news you don’t want to hear– your home will be sitting on the market, unsold and most likely not even shown for months to come. So, I like to keep it real, using trends and data that I keep up with daily and are concrete.

In short, I’m busy using my advanced internet skill sets selling your home or finding you one to buy. If you’d like to reap the benefits of my work ethic, everyday stamina and dynamic tech-skills call me (530.601.1003), skype me (carmen.isais), twitter me, facebook me or otherwise contact me. I’m always connected.

Whether you are facing foreclosure or simply need to reduce your payment, Mortgage Outreach Services can help and there is no out of pocket costs to you.

If you’re a homeowner worried about how to pay your mortgage, we can help you understand what options are available and which is the best fit for you:

Refinance: Getting out of your old loan and into a new one can free you from the instability of an adjustable mortgage by putting you into a low-rate fixed mortgage. Rates are at all-time lows, and loans can be extended to as long as 40 years to keep payments low.

Loan Modification: Having your lender modify your loan can reduce your interest rate and payment. In some cases, a lender will modify your loan to reduce the amount of your mortgage balance.

Short Sale: For homeowners in areas where prices have fallen dramatically, the best option may be a short sale. In a short sale, the lender agrees to accept less than the full amount of the mortgage so the property can be sold at the current market price.

As a borrower and homeowner, you have options.  Start by making a Consultation Request or call Carmen Isais directly at 530.601.1003. Let’s meet… once we have some basic information about your situation, we can work together and help you exercise your options.