$18,000 IN COMBINED HOMEBUYER TAX CREDITS FOR A LIMITED TIME

Californians have a brief window of opportunity to receive up to $18,000 in combined federal and state homebuyer tax credits. To take advantage of both tax credits, a first-time homebuyer must enter into a purchase contract for a principal residence before May 1, 2010, and close escrow between May 1, 2010 and June 30, 2010, inclusive. Buyers who are not first-time homebuyers may use the same timeframes to receive up to $16,500 in combined tax credits if they are long-time residents of their existing homes as permitted under federal law, and they purchase properties that have never been previously occupied as provided under California law.
Under the federal law slated to soon expire, a first-time homebuyer may receive up to $8,000 in tax credits, and a long-time resident may receive up to $6,500, for certain purchase contracts entered into by April 30, 2010 that close escrow by June 30, 2010. Additionally, under a newly enacted California law, a homebuyer may receive up to $10,000 in tax credits as a first-time homebuyer or buyer of a property that has never been occupied. The new California law applies to certain purchases that close escrow on or after May 1, 2010 (see Cal. Rev. & Tax Code section 17059.1(a)(4)). California law generally allows buyers of never-occupied properties to reserve their credits before closing escrow, but buyers seeking to combine the federal and state tax credits will not be able to satisfy the timing requirements for such reservations (see Cal. Rev. & Tax Code section 17059.1(c)(1)(A)). Other terms and restrictions apply to both tax credits.
For more information, C.A.R. offers a Homebuyer Tax Credit Chart with a side-by-side summary of the federal and California laws. C.A.R. also offers a legal article entitled Homebuyer Tax Credit Update. Brought to you by the CALIFORNIA ASSOCIATION OF REALTORS®

Real Estate Today Radio on Teresaprock.com!

On my website Teresaprock.com there is a link to "Real Estate Radio Today", an informative radio show all about the Real Estate Market in today's world. Every week there is a new show to keep you up to date regarding Real Estate. The show starts out with the most recent events and statistics nationwide, then there is usually a theme for the rest of the program This weeks program is called "The $500 Show", It consists of tips for your home that should save you $500 or MORE!! Tune in weekly and stay informed!

$10,000 First Time Home Buyer Tax Credit Starting May 1, 2010

California Legislature has passed Governor Arnold Schwarzenegger's proposal (AB 183) to extend the $10,000 first time home buyer tax credit starting May 1, 2010 until December 31, 2010. He is expected to sign the bill soon. The previous California tax credit limited to a total of $100 million for new home purchases only was exhausted eight months before the proposed deadline. The initial bill credited over 10,000 home buyers. The new bill appears to double the amount assistance.

Highlights of New California First Time Home Buyer Tax Credit:
1. $10,000 tax credit or 5% of purchase price (whichever is lower)
2. First time home buyers only
3. New and existing homes are eligible
4. $200 million in funds available on a first come, first serve basis
5. Credit given in 3 equal payments to a taxpayer's personal income tax returns over 3 year period (up to $3333.33 per year)

When additional information comes available and the bill is actually signed, I will post the updates.

Don't miss this rare opportunity to take advantage of the reduced prices in homes, 40 year low in interest rates and to receive an incentive back from the state of California!

Finding The Right Home To Buy...

Buying a home can be an overwhelming process and emotionally draining. Finding the right home is not always an easy task. I advise buyers to look at a maximum of 7 homes at a time because any more than that will make a buyer's head spin. Most buyers conduct a lot of research online before ever stepping foot in a home. Buyers spend an average of 6 to 8 weeks, according to the National Association of REALTORS, trying to figure out where they want to live. But once the neighborhood is selected, most buyers end up buying a home after 2 or 3 home tours. Take your time, you'll know when it's the right home for your family!

Is A Homewarranty A Good Idea?

A home warranty is a service contract that covers the repair or replacement of many of the most frequently occurring breakdowns of home system components and appliances.
Your home is most likely one of your biggest investments. Unexpected repair or replacement costs can easily strain your budget. Plus, finding an approved and insured contractor to solve your problem can be stressful and inconvenient. A home warranty cannot prevent systems or appliances from breaking down, but it can help make covered repairs or replacement easier and less costly. Therefore giving you some peace of mind!

Helpful information at Teresaprock.com!

Visit Teresaprock.com and click on the " Real Estate Radio" tab. This weeks show is all about fixing up your home and many helpful ideas to increase its value. Springtime is finally here and there are many good tips on maintenance items to keep your home at its very best. Also, a current update on todays Real Estate market nationwide! Don't miss this informative, up to date show!

Let there be Light!

SUNLIGHT IS A FRIEND TO THE HOUSE SELLER, AND YOU SHOULD TRY TO LET AS MUCH INTO YOUR HOME AS YOU CAN. WASH WINDOWS INSIDE AND OUT AND WASH OR DRYCLEAN THE WINDOW COVERINGS: CURTAINS, DRAPES AND BLINDS. BEFORE SHOWING THE HOUSE TO A PROSPECTIVE BUYER, REPLACE ANY BURNED-OUT LIGHT BULBS TURN ON THE LIGHTS, OPEN THE WINDOWS LIFT THE BLINDS AND PULL BACK THE DRAPES LET THERE BE AS MUCH LIGHT AS POSSIBLE TO AID YOU IN SELLING YOUR HOME!

Thinking Of Selling Your House? Unclutter It First!!

One of the hardest thing for most people to do is get rid of clutter! They are emotionally attached to everything in the house. After years of living in the same home, clutter collects and it may very well not be evident to the homeowner. However, it does affect the way buyers see the home through their eyes. You may not even realize it.




Clutter on shelves, counter tops, drawers, closets, garages, attics, and basements collects when you are not looking!. You want as much open clear space as possible, every extra little thing needs to be cleared away, creating space, space and more space.


Pretend you are a buyer. Let a friend or family member help point out areas of clutter. Be prepared to accept their opinion, remember, they are only trying to help. Also ask your Realtor, they are very experienced in staging a home for sale. It's always good to rely on a professional when you can! Good Luck!!

Heating & Insulation

Heating and air conditioning accounts for half or more of the utility costs in most homes. Investing in high efficiency heating systems and increasing insulation can greatly reduce theses costs. A high efficiency furnace can use up to 40% less energy than an older model, and newer air conditioners can use as much as 60% less electricity than older units. If you require both heating and air conditioning, then you should look into a heat pump system.
If you live in an area that gets quite cold in the winter, and you live in a house that is over 15 years old, then you probably could use more insulation. The easiest place to add insulation is the attic. You could try to do this yourself for cheap, and cut your heating costs by 15% or so. Adding insulation to walls and installing new windows can also reduce heating costs by a lot, but these improvements are so expensive that you’ll probably want to look into other things first.

Installation of Vinyl Windows

You should carefully inspect your vinyl windows before you begin installation process. In case you find any visible damage or other irregularity do not install the product. Regardless of the framing material, proper installation is absolutely critical to the maximum performance of a vinyl window. Improperly installed windows will not be as energy efficient as they should be, thus not providing the quality performance life for which they're designed.Some of the possible installation mistakes on vinyl windows include creating openings that are too large, improper flashing, improper choice of anchorage or too much space between fasteners. These mistakes can be found in the installation of all types of windows. Framing and sash joints are permanently welded for strength and dimensional stability needed during installation and to assure years of trouble-free service.Start your installation process by protecting the surrounding area of the window inside and out. Make sure the rough opening is plumb, square and the sill plate is level. Rough openings should be ½ inches larger than window frame in width and height. Always close and lock the sash during installation process. Be attentive not to "crown up" or "bow down" the sill or head.

A Matter of Taste Wine Tasting and Silent Auction

March 13A Matter of Taste Wine Tasting and Silent AuctionTime: 6:00 to 11:00 p.m. Tickets: Tickets are $20 each, $25 at the door. A Matter of Taste tickets can be purchased online through Brown Paper Tickets or at the locations listed below. Online Ticket Purchase: Brown Paper Tickets Please note there is a small surcharge of $1.99 added to each ticket purchase. Purchase tickets from Brown Paper Tickets. In-Person Ticket Purchase: BriarPatch Co-Op 290 Sierra College Drive Grass Valley, CA 95959 The Book Seller 107 Mill Street Downtown Grass Valley, CA 95959 Yabòbò 107 North Pine Street Downtown Nevada City, CA 95959 Nevada City School of the Arts Nevada City School of the Arts 13032 Bitney Springs Road Bldg. 8 Nevada City, CA 95959 Phone: (530) 273-7736
View Event Details
530 273 7736
www.matteroftastenc.com

Cash-For-Clunkers Rebates Enter Appliance World

Three dozen states will launch programs in March and April to distribute almost $300 million in rebates to consumers buying energy-efficient appliances.
The federally funded programs, similar to the cash-for-clunkers auto rebate program last year, are intended to improve energy efficiency and stimulate the economy. Rebates differ by state and appliance.
Eight states launched programs this month, including New York, which offered $50 to $75 rebates on refrigerators, washers and freezers. On opening weekend, “There were people waiting outside every store to get started,” says Doug Moore, president of appliances for Sears, which opened early to meet demand. New York’s $18.7 million program was set to expire Sunday but was extended because millions remained.
“It’s been a boon to consumers and retailers,” says Francis Murray, CEO of the New York State Energy and Research Development Authority.
Michigan launched its program Feb. 10. It expects it’ll take four months to distribute the $9 million in rebates, says Stephanie Epps, appliance analyst for the Michigan Bureau of Energy Systems. “The weak economy has a lot to do with it,” Epps says.
Some states started programs earlier. Each state sets the rules and dates of their programs. Oregon and Kansas require applicants to be low income. Alaska has reserved rebates for people with disabilities.
To qualify for rebates, consumers must buy Energy Star appliances, which meet energy standards set by the federal government and are up to 30% more efficient than standard models, Murray says.
Many states offer rebates for refrigerators, washing machines, dishwashers and water heaters, Moore says. Some states are more restrictive. Many offer extra rebates if consumers recycle old appliances. Rebates are largely first come, first served. In Michigan, consumers can reserve rebates, then buy and apply, Epps says.
The Department of Energy, at www.energysavers.gov, provides information on each state’s program.
Some say the programs’ costs will outweigh the benefits. University of Delaware economics professors George Parsons and Burton Abrams estimate that for every dollar spent on the programs, they’ll return 94 cents in environmental benefits.
The benefits will be muted because some consumers will buy appliances they would’ve bought anyway, Parsons says. Some appliances will be retired sooner than they could be. Also, some people may buy new refrigerators but keep old ones, too.
(c) Copyright 2010 USA TODAY, a division of Gannett Co. Inc.
Source: USA TODAY