5 Reasons To Buy In August

1. Real Estate is a Great Long Term Investment
Mike Mandel, former chief economist at BusinessWeek and current Senior Fellow at Wharton's Mack Center for Technological Innovation, said:"We've just had the biggest boom and bust in real history in recent history. Nevertheless, real estate has still greatly outperformed the stock market over the past ten years."Below is his chart actually showing the difference between real estate and the stock market.
2. A Home Is a Better Place to Raise a Family
When Fannie Mae asked current renters for the major reason to buy a house in their National Housing Survey 2010, these were the answers renters gave (they could pick multiple answers):
78% said it was a good place to raise children
75% said because they would feel safe
70% said because you have control of your own space
3. A Home Creates a Sense of Community
The Federal Reserve Bank of New York just published a paper The Homeownership Gap. The paper explained:"Because owners have a financial interest in their property, they have incentives to take measures that will maintain or increase the value of that property. Some of these measures-such as fixing a leaky roof-are closely related to the house itself. Others, such as investing resources in the betterment of the neighborhood and the community, have broader beneficial effects on the local area, creating what economists call 'positive externalities'."
4. It is Cheaper to Own Than Rent in Many Parts of the Country
Housing Wire just reported on a Credit Suisse study:"While a segment of the renting population continues to rent, many are looking to dip their toes in the homeownership waters. Credit Suisse said the percentage of median household income needed to pay the mortgage on a median priced home is at a 30-year low... Low mortgage rates and property values makes homeownership more attractive than renting for many. In many markets - including Washington DC, California's Inland Empire, Las Vegas and Phoenix - paying for a mortgage is less expensive than renting."
5. The People Who Do Buy a Home Don't Regret It.
Probably the best people to ask if buying a home makes sense are the people who currently own homes. A recent national poll commissioned by Bankrate.com found:"Ninety percent of homeowners say they don't regret buying their home despite a nationwide tsunami of foreclosures, short sales and loan modifications."

Summer days

It's the first day of August and I can't believe that summer is almost over. I guess not over in terms of the summer season but with school schedules this is over the halfway point. We try to fit everything in. Friends, family, lay around time and work. Work? I've been trying to do that every day of this summer break but it's not easy when you have friends calling to meet at museums and grandparents calling to come over and swim. Then the kids who are wanting to play Wii and have friends over. Balancing work and family is hard but doable. I'm always striving to have a happy medium where I can service my clients the way they should be taken care of but not have my family suffer. Right now I'd give myself an A- but there is always room for improvement.

School Time is almost here

Want information about schools? Check out Greatschools.com and you can look up test scores, demographics, teacher salaries and how your home school ranks in the district.

Old article but still relevant

I came across this article when going through some stuff on my desk and although the article is from 2008 it still applies to today and what sellers can do to get ready for the sale of their home. Not only will you be able to inform the potential buyers and move offers and escrow along faster but you can possibly fix items a head of time and maybe get a better price for your home. Just a thought.

Earthquake Insurance?

What you don't know CAN hurt you. A basic homeowners policy does not cover damage caused by earthquake, and if you have a policy in place already, the deductible is very likely higher than you might imagine. It is no coincidence, places all over the world really are ‘moving and shaking’ and the recent 7.2 earthquake in Mexico was felt by many, especially here in Southern California. Since we reside in one of the most active earthquake areas in the country, let’s take a moment to address this important subject and ways to mitigate potential loss.

Don’t wait until after an earthquake to think about the importance of planning and preparing for a natural disaster and it’s after-effects. Earthquake insurance does not have to be complicated, but there are several risk factors to consider before you decide to purchase this coverage.

Article written by: Shelley Dawson

Tax Credit for Military Extension

Military personel, members of the Foreign Service, and employees of the intelligence community have an extra year, through June 2011, to buy a principal residence in the U.S. and claim the federal tax credit. The deadline for entering a binding contract is April 30th 2011 with the deadline to close a purchase being June 30 2011. The extension applies to any individual (and if married the individuals spouse) who serves on qualified official extended duty service outside of the U.S. for at least 90 days during the period beginning after December 31,2008 and ending befor May 1st 2010. See www.military.com/finance/content/0,15356,205662,00.html for more information.
Pretty cool!

April Market Reflection

C.A.R. reports April median price increased 21 percent; home sales decreased 8.1 percent

Quick Facts:
• Existing, single-family home sales decreased 8.1 percent in April to a seasonally adjusted rate of 483,830 units on an annualized basis compared with April 2009.

• The statewide median price of an existing single-family home increased 21 percent in April to $306,230, compared with April 2009.

• C.A.R.’s Unsold Inventory Index rose to 5.1 months in April, compared with five months in April 2009.

LOS ANGELES (May 24) – Home sales decreased 8.1 percent in April in California compared with the same period a year ago, while the median price of an existing home rose 21 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.