Serena Russell ~ Bay Area Real Estate Specialist

Keeping your home in good shape begins with routine maintenance both inside and out. This can help you avoid costly losses due to plumbing failures, damage from falling tree limbs and keep your home protected when you are away.

Water damage – reduce your risk

You can help prevent future leaks and water intrusion by regularly inspecting the following elements in and around your home to make sure they remain in good condition.

Plumbing and Appliances:

Inspect plumbing supply lines and drain systems annually:

Disconnect garden hoses when freeze warnings are issued.

Ensure proper refrigerator/icemaker operation:

Prevent washing machine leaks:

Turn supply valves off when not in use.

Consider installing a lever-type valve that is easy to operate between uses.

Protect water heaters:

Flush the tank every six months to remove sediment.

Sediment will build up faster in areas with hard water.

Avoid toilet leaks:

Inspect the flushing mechanism inside the toilet every six months.

The fill valve should shut off when the float reaches the proper water level.

Replace the flapper or fill valve assembly if you notice intermittent or constant tank refilling when the toilet is not in use.

Keep sinks operating:

Inspect plumbing beneath sinks every six months.

Locate the water shut-off valve.

Shower stall safety:

Inspect tile and grout every six months, paying attention to loose or cracked tiles and cracked or crumbling grout lines. Repair as needed.

Whether you’re a first-time buyer looking for the perfect starter house, or a seasoned pro trading up to your waterfront dream home, you are probably asking the same questions: Can I afford this? And is this the right move at the right time?
Of course, you can use a mortgage calculator and ask the experts — lenders, agents, and mom — but the reality is that you are the only one who truly knows whether you can afford to buy right now.

Simple Budgeting: Start with is a detailed expense breakdown. Analyze what you spend — at least get a full month’s snapshot. You’ll see where you may have wiggle room in your budget and what you can afford for housing. (Be sure to count all those little incidental expenses like dry cleaning and yes, those mid-afternoon Starbucks lattes count in the budget, too!)
Debt-to-Income Ratios
If you figure out that you can afford your projected budget, chances are you’ll qualify for a mortgage in your range. Lenders will determine how much loan you can afford by using something called your debt-to-income ratio.

If your credit is stellar, you will be rewarded. Lenders may stretch these ratios allowing you to purchase more home and take advantage of more lending programs.

So go ahead and get qualified today. It is simpler than you think.

Welcome to another  beautiful month in California!!  As each term ends, graduates will start looking for employment in their chosen fiends.  Many will  start working at their first ‘real job’.

I hear the job market is improving already and companies are hiring.

This is a nerve-wracking year to be graduating from college. How do you land a job in such a weak economy?

If you’ve trained to work as, say, a network systems and data communications analyst, the odds look good.

Systems analysts–in case you haven’t studied enough computer engineering to know–design, test and evaluate systems such as intranets and local area networks. Their average starting salary is $40,100. It’s predicted there will be 35,086 openings for them annually.

Perhaps no job in the top 10 illustrates that fact better than an actuary, which comes in at No. 8. Actuaries are the professionals who identify, quantify and manage the financial impact of risk. They typically work for financial or insurance companies. Usually they’re math or statistics majors, but that’s not a requirement. The main prerequisite is an aptitude for math.

The starting salary for an actuary right out of college is about $50,000.

No. 2 on the list is the sales agent who sells retirement packages and annuities to individuals and employers. Experts say   this job is in demand because the aging population is struggling to find long-term financial security. Its average starting salary is $30,890, and the number of openings annually is 47,750.

Also in the top 10: paralegal, school counselor, computer support specialist and cost estimator. Never heard of a cost estimator? He or she usually works in construction or engineering and assists project managers in determining how much supplies and resources will cost. The average starting salary is $32,470, and the number of openings annually is 38,379.

Perhaps it’s time to rethink your major.

See this LINK for complete article.

There’s no denying the value of a college education: According to recent U.S. Census surveys, the median salary for college grads is more than $20,000 higher than that of people with only a high school diploma. And the unemployment rate for people with bachelor’s degrees is almost half the rate for people without.

Click this link to see:
10 job-search mistakes of new grads
8 mistakes to avoid in your first ‘real’ job.
Find  a new job near you.

http://hotjobs.yahoo.com/career-articles-worst_paying_college_degrees-1263

Sellers would like to know if now is the right time to sell. Furthermore, would they realize a profit. With all the short sales and bank owned properties in the news, it seems rather daunting to think of selling your property now. You may be surprised to find out that your property is worth much more than you anticipated.  Online website might give you some indication, however each home is different due to various conditions. Read the rest of this entry »

 Are you looking to find a great deal ( like everyone else).  Have you thought to owner occupied a triplex or fourplex   so that you can positive cash flow?  Have also thought about collecting steady rental income?  Are you wondering what is the best investment for with positive cash flow, and in a decent area? Read the rest of this entry »

The expiration of the federal tax credits for home buyers is not likely to prevent home buyers from purchasing, according to a survey by Prudential Real Estate and Relocation Services, Inc.  According to the survey, among home buyers currently shopping for homes, 65 percent believe that the end of the tax credits will have little or no effect on their interest in purchasing a home.

Survey respondents identified concerns about rising mortgage interest rates and unemployment as the most important factors affecting their decision to purchase a home, along with more stringent lending criteria and fewer mortgage-backed securities purchased by the Federal Reserve. The expiration of the tax credits placed lowest on their list of concerns.

Among current renters, 75 percent still believe owning their home is a better long-term choice for their needs than renting. The majority of consumers also believe that homeownership is a better investment than individual stocks or bonds (75 percent), mutual funds (72 percent), or savings accounts (74 percent).

See this link for consumer poll.Real Estate Consumer Poll

On March 25, 2010 California approved a new $10,000 First-Time Homebuyer tax credit for purchases that close escrow on or after May 1, 2010. (Cal. Rev. & Tax Code § 17059.1)

These tax credits are available for taxpayers who purchase a qualified principal residence on or after May 1, 2010, and before January 1, 2011. Additionally, these tax credits are available for taxpayers who purchase a qualified principal residence on or after December 31, 2010, and before August 1, 2011, pursuant to an enforceable contract executed on or before December 31, 2010.  The purchase date is defined as the date escrow closes. Taxpayers may apply for the tax credits if they have entered into a contract before May 1, 2010, as long as escrow closes on or after May 1, 2010.

However, taxpayers may not request a New Home Credit reservation if they have entered into the contract before May 1, 2010.

$100 Million of tax credits has been allocated to First-Time Homebuyers on a First-Come, First-Served Basis.

These tax credits are limited to the lesser of 5 percent of the purchase price or $10,000 for a qualified principal residence. Taxpayers must apply the total tax credit in equal amounts over 3 successive tax years (maximum of $3,333 per year) beginning with the tax year in which the home is purchased.

The California Association of Realtors® predicts that it will take only 10 – 20 days to deplete the $100 million allocation for this credit.

Time is quickly running out so act now.

Check  this site for further details:  http://www.ftb.ca.gov/individuals/New_Home_Credit.shtml

Many homeowners are wondering if they should  upgrade in a down market?
So a potential seller tells me he is thinking of upgrading his property in this market. Is it a good idea or not? He has lived there many years, over 20 and not done much; he wants top dollar for his home. Read the rest of this entry »

The state has reissued the first time homebuyer and move up tax credit.

Please understand this is not the Federal one. That still ends April 1, 2010.

The new one is to start right after

This works differently , it is still GOOD!

State bill AB 183 will provide $200 million for home buyer tax credits, allocating $100 million for qualified first-time home buyers of existing homes and $100 million for purchasers of new, or previously unoccupied, homes.

Read the rest of this entry »