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Removing popcorn ceilings

by Arnie Levine on September 10, 2011

in Latest News,Real Estate news

This is an article I found, By Barry Stone Inman News™,very helpful to some common concerns with pocorn ceilings:

Share ThisDEAR BARRY: My home has textured ceilings in the living room and bedrooms, and the material has tested positive for asbestos. A home inspector I know says he removed his asbestos ceilings by himself and that it was simple. He just wet the surfaces; the asbestos material turned to mush; and it was then easily removed.

But when I tried to wet my ceilings, the water wouldn’t soak in. Why did this method work for my friend but not for me? –Allen

DEAR ALLEN: When acoustic ceiling texture is wet, asbestos fibers are withheld from release into the air. Therefore, wetting is part of the prescribed method for safe removal, as recommended by your home inspector. But this method works only if the acoustic ceiling texture has never been painted.

Unpainted ceiling texture is soft and permeable. It soaks up water as readily as a sponge. When wet, it is as mushy as oatmeal and can be easily removed with a drywall knife, without releasing asbestos fibers into the air. But when the texture has been painted, it becomes totally waterproof. The paint seals the material so that water penetration and easy removal are no longer possible.

During the 1980s and early ’90s, removal of acoustic ceiling texture was commonly done for environmental safety reasons, because breathing asbestos fibers was found to cause various lung diseases. That practice became less common when it was realized that asbestos ceilings pose no health hazards if left alone.

Air contamination, it was realized, occurs when the material is disturbed, causing the release of asbestos fibers. In more recent years, removal of acoustic ceiling texture has become popular because the cottage cheese look makes a home appear out of date.

If you scrape off the acoustic texture while it is dry, asbestos fibers can contaminate the air and interior surfaces in your home. Therefore, removal should be done by a licensed asbestos abatement contractor to ensure safety. Unfortunately, the cost of professional asbestos removal is prohibitive. Because of this, some homeowners have opted to install a second layer of drywall over the asbestos surface.

This can be done for less money than asbestos removal. However, drywall application over an acoustic ceiling can cause abrasion, resulting in the release of asbestos fibers. Therefore, such work should be done only with the advisement and supervision of an asbestos abatement contractor.

For more information regarding residential asbestos, visit the website of the Environmental Protection Agency at www.epa.gov/asbestos , or call the EPA at (202) 566-0517 and request a copy of the booklet, “Asbestos in the Home.”

via Daily Real Estate News.

If you know of someone who would appreciate the level of service in real estate we provide, please call me 619 540-5811 or have them go to www.CountyProperties.net/ and I’ll be happy to follow up and take great care of them.

28mort articleLarge2 How to prepare for a Loan if you’re for self employed

When income is freelance or self employed these are the challenges to overcome.

After the financial market downturn in 2008, getting approved for a mortgage loan became even more difficult. Combine that with the fledgling economy, which left many people turning to freelance work, and the challenges involved in qualifying for a home mortgage increase exponentially. However, with a little extra work, home buyers using freelance work as proof of income still can qualify for a new loan.

Borrowers who earn most of their income on 1099s should be prepared for extra preparation, paperwork, and discussion of their financial standing when applying for a mortgage.

  1. It’s important that independent contractors show that their income is stable and increasing. For some, that may mean declaring all their income on their tax returns, and not, say, carrying anything over to the next year, even if it means paying more taxes.
  2. Consistency in income is key, so those applying for a mortgage this fall or winter should be prepared to provide proof for year-to-date income.
  3. To increase the chances of getting a mortgage approval, borrowers should pay off other debts, including balances on credit cards.
  4. Pinpointing the source of the down payment also is helpful. If the down payment will be a gift from a relative, borrowers are advised to submit an account statement showing the funds are available and awaiting the home purchase. Same goes for borrowing from a 401(k).
  5. Freelancers also should be prepared for a more in-depth analysis of their ability to repay the debt. Submitting tax returns from the last three years and explaining any significant differences in income is advised.

Click here to get loan information before the rates go up. To get started on viewing homes, condos, investment properties, pre-foreclosures, bank owned foreclosures (REO’s) or thinking of selling your property, please contact me today for free counseling at (619) 540-5811.

New Pro-Property Search. We will setup a customized search for you by our professional REALTOR® Team. Sit back relax and shop at home! We will make changes to your Pro-Property Search any time you like, just let us know. Have fun!

By the way…if you know of someone who would appreciate the level of service in real estate we provide, please call me or have them go to www.CountyProperties.net/ and I’ll be happy to follow up and take great care of them.

Sept. 1 – The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) applauds Gov. Jerry Brown for signing AB 771, a bill that prevents home buyers in a common interest development (CID), such as a condominium or townhome, from being charged excess document fees.

Homeowner associations (HOAs) are required to provide specific documents to prospective purchasers of homes in a CID — a form of real estate ownership in which each homeowner has an exclusive interest in a unit and a shared interest in the common area property. In addition to the standard residential property disclosures, purchasers of a unit within a CID must receive basic information about the structure, operation and management of the HOA that operates the CID.

Current law requires that this information come from the HOA and prohibits it from charging fees in excess of what is “reasonable,” not to exceed the actual cost of processing and producing these documents. HOAs generally have provided the documents for approximately $75 to $250. Increasingly, HOAs have been delegating document preparations to third party vendors or contractors who, under a 2007 court decision, are exempt from this fee limitation. This delegation of responsibility by HOAs sometimes resulted in home purchasers

via Gov. Brown signs AB 771.  

Click here to get loan information before the rates go up. To get started on viewing homes, condos, investment properties, pre-foreclosures, bank owned foreclosures (REO’s) or thinking of selling your property, please contact me today for free counseling at (619) 540-5811 .

New Pro-Property Search. We will setup a customized search for you by our professional REALTOR® Team. Sit back relax and shop at home! We will make changes to your Pro-Property Search any time you like, just let us know. Have fun!

By the way…if you know of someone who would appreciate the level of service in real estate we provide, please call me or have them go to www.CountyProperties.net/ and I’ll be happy to follow up and take great care of them.

Pending home sales in California fell 1.7 percent in July, according to C.A.R.’s Pending Home Sales Index (PHSI)*.  The index was 117.0 in July, down from June’s index of 119.0, based on contracts signed in July.

The index was up 4.9 percent from July 2010.  Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market.

The total share of all distressed property types sold statewide fell to 44.5 percent in July, down from June’s 46.9 percent.  The share of distressed sales also was down from a year prior, when distressed sales totaled 47.7 percent of all home sales.
Non-distressed sales made up the remaining share of home sales in July at 55.5 percent, up from 53.1 percent in June and 52.3 percent in July 2010.

County Properties, 25 years of brokerage experience, trust and a Member of the local Better Business Bureau! We offer free counseling in real estate regarding; home values and information on options of selling vs. Foreclosure.

Click here to get loan information before the rates go up. To get started on viewing homes, condos, investment properties, pre-foreclosures, bank owned foreclosures (REO’s) or thinking of selling your property, please contact me today for free counseling at (619) 540-5811 .

New Pro-Property Search. We will setup a customized search for you by our professional REALTOR® Team. Sit back relax and shop at home! We will make changes to your Pro-Property Search any time you like, just let us know. Have fun!

By the way…if you know of someone who would appreciate the level of service in real estate we provide, please call me or have them go to www.CountyProperties.net/ and I’ll be happy to follow up and take great care of them.


     Real Estate Weather Report for California

    The Basic Steps of Foreclosure

    Fannie Mae has publicly assured homeowners going through foreclosure that they will be protected from losing their homes while applying for a federally funded loan modification. They can apply for a modification at any point before or during the foreclosure process. If a modification is approved, homeowners can keep their homes if they make their adjusted payments. Absent that, here are the stages of a typical foreclosure:

    1) In default: A loan is in default when a mortgage payment is 30 days late.

    2) Warning: When a loan is 60 days past due, the bank, credit union or mortgage company warns that foreclosure is the next step.

    3) Proceedings begin: After 90 days, the lender refers the loan to its foreclosure department, and hires a trustee (foreclosure company typically Tittle companies) to begin foreclosure proceedings.

    4) Sale advertised: The lender’s lawyer advertises the property for sale for four consecutive weeks in a local newspaper. The sheriff’s sale date is listed in the advertisement.

    5) Sale held: The sale is held on the published date. A sheriff’s employee conducts a courthouse auction and the highest bidder wins, usually the bank that owned or serviced the mortgage.

    If you have equity in your home, we will sell your home and get top dollar in this challenging market, go to County Properties Marketing Homes. If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also and close escrow in 45-60 days or less. Learn more about mortgage relief options and how to take advantage of our FREE REALTOR (R)  CONSULTATION for loan modification and or selling .  or go to www.ShortSaleRealtors4U.com

    More questions we can help you, at County Properties, 25 years of brokerage experience, trust and a Member of the local Better Business Bureau! Want to know what your home is worth? Click here for a free market evaluation !

    By the way…if you know of someone who would appreciate the level of service in real estate we provide, please call me or have them go to www.CountyProperties.net and I’ll be happy to follow up and take great care of them.

     The Basic Steps of Foreclosure
    300px Dianne Feinstein%2C official Senate photo U.S. Senator Dianne Feinstein responding to County Properties Message

    U.S. Senator Dianne Feinstein

    Dear Mr.Levine:

    Thank you for contacting me to express your concern regarding recently announced criteria for “qualified residential mortgages” (QRMs).  I appreciate hearing your thoughts on this issue and apologize for the delay in my response.

    As you know, one of the leading causes of the recent financial crisis was a practice within the subprime mortgage industry of extending loans to borrowers who had little chance of repaying them.  Because mortgage originators were not previously obligated to retain a financial interest in the riskier loans they issued, their incentives favored short-term profits over the long-term performance of the loans they packaged and sold to investors.

    The Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203) attempted to correct this practice by requiring issuers of mortgage-backed securities to retain at least a five percent stake in the loans they package and sell to investors.  The legislation, however, included an exemption for QRMs and required banking and housing regulators to develop underwriting standards to determine which mortgages could be considered stable enough to qualify.

    In March, after surveying data on the factors that contribute to homeowner defaults, federal regulators issued a proposed rule defining QRMs as those made with a 20 percent down payment to borrowers with strong credit histories and a low debt to income ratio, among other standards.  These criteria do not prohibit non-QRM loans from being insured or securitized by government-sponsored housing entities, such as Fannie Mae or Freddie Mac.  Rather, these regulations will require issuers of non-QRM loans to retain a measure of credit exposure to the performance of the loan.

    I understand you are concerned that these criteria – specifically the 20 percent down payment requirement – will stifle the housing market in California by raising borrowing costs for many potential homebuyers.  The Federal Reserve is currently in the process of reviewing the many comments it has received in response to its proposed regulation in preparation for the release of a final rule.  Please know that I will keep your concerns in mind as I monitor the Federal Reserve’s development of a final rule and its potential effect on Californians.

    Once again, thank you for writing. If you have any additional questions or concerns, please do not hesitate to contact my Washington, D.C. office at (202) 224-3841.  Best regards.

    Sincerely yours,

    Dianne Feinstein
    United States Senator

    Further information about my position on issues of concern to California and the Nation are available at my website, Feinstein.senate.gov.  You can also receive electronic e-mail updates by subscribing to my e-mail list. Click here to sign up. Feel free to checkout my YouTube Page.

     U.S. Senator Dianne Feinstein responding to County Properties Message

    Foreclosure postings in the Dallas-Fort Worth area fell in July-September period to their lowest level in 11 quarters, a new report says.

    From July through Texas’ upcoming foreclosure auctions in September, 12,876 postings were filed on area homes, a 21% decline from the 16,229 postings recorded for the third quarter of last year, according to a report from Foreclosure Listing Service Inc.

    Postings also declined on a year-to-date basis, according to FLS.

    “For the first time in 11 years, year-to-date residential postings declined,” said George Roddy Sr., president of Foreclosure Listing Service. Through September, 42,380 postings have been filed threatening Dallas-area homes with foreclosure, a 12% decline from the 48,081 postings filed over the same period last year.

    The report covers the four counties in the Dallas-Fort Worth metro area: Dallas, Tarrant, Collin and Denton. All four saw foreclosure postings drop from a year earlier to their lowest levels in two years or more.

    Foreclosure postings increased for homes valued below $100,000, rising 7%, but dropped for all other price segments. Of the homes posted for foreclosure this year, 83% were priced under $200,000.

    If you have equity in your home, we will sell your home and get top dollar in this challenging market, got to County Properties Marketing Homes. If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also and close escrow in 45-60 days or less. Learn more about mortgage relief options and how to take advantage of our FREE REALTOR (R)  CONSULTATION for loan modification and or selling .  or go to www.ShortSaleRealtors4U.com

    More questions we can help you, at County Properties, 25 years of brokerage experience, trust and a Member of the local Better Business Bureau! Want to know what your home is worth? Click here for a free market evaluation !

    By the way…if you know of someone who would appreciate the level of service in real estate we provide, please call me or have them go to www.CountyProperties.net and I’ll be happy to follow up and take great care of them.

    Home prices have taken such a beating and demand for rental units has increased so much that it’s now cheaper to buy a two-bedroom home than to rent one in most major U.S. cities.

    According to real estate web site Trulia, buying was cheaper than renting in 74% of the country’s 50 largest cities in July. In just 12% of the cities, including New York, Seattle and San Francisco, renting was cheaper. In the remaining 14% of cities, renting was less expensive but close to the cost of buying.

    In addition to a continuing decline in home prices, rock-bottom interest rates have added a lot of weight to the buy side of the scale. The overnight average rate for a 30-year fixed was just 4.19% on Monday, according to Bankrate.com. A 15-year fixed averaged just 3.43%.

    Add in the tax perks of home ownership and for those who can afford it (and who can actually qualify for a loan), it certainly is a buyer’s market.

    County Properties, 25 years of brokerage experience, trust and a Member of the local Better Business Bureau! We offer free counseling in real estate regarding; home values and information on options of selling vs. Foreclosure.

    Click here to get loan information before the rates go up. To get started on viewing homes, condos, investment properties, pre-foreclosures, bank owned foreclosures (REO’s) or thinking of selling your property, please contact me today for free counseling at (619) 301-0200 .

    New Pro-Property Search. We will setup a customized search for you by our professional REALTOR® Team. Sit back relax and shop at home! We will make changes to your Pro-Property Search any time you like, just let us know. Have fun!

    HomeSteps, the real estate sales unit of Freddie Mac, is offering “Condo Cash,” a special limited time offer that will provide eligible condominium buyers with up to $1,500 for standard condominium association dues.  

    HomeSteps’ Condo Cash is limited to buyers who submit offers between Aug. 15 and Nov.15, 2011, and close escrow on or before Dec. 30, 2011.  HomeSteps’ Condo Cash offer is valid only on HomeSteps homes that have been on the market for at least 120 days and are sold to owner-occupant buyers.

    HomeSteps Condo Cash is not available on HomeSteps condominiums purchased through auctions, sealed bids, bulk sales, or in areas where such offers are prohibited by law.

    County Properties, 25 years of brokerage experience, trust and a Member of the local Better Business Bureau! We offer free counseling in real estate regarding; home values and information on options of selling vs. Foreclosure.

    Click here to get loan information before the rates go up. To get started on viewing homes, condos, investment properties, pre-foreclosures, bank owned foreclosures (REO’s) or thinking of selling your property, please contact me today for free counseling at (619) 301-0200 .

    New Pro-Property Search. We will setup a customized search for you by our professional REALTOR® Team. Sit back relax and shop at home! We will make changes to your Pro-Property Search any time you like, just let us know. Have fun!

    Daily Real Estate News for sellers

    by Arnie Levine on August 19, 2011

    in Finance,Real Estate news

    Here are the IRS’s top 10 tax tips for home sellers:

    1. In general, you are eligible to exclude the gain from income if you have owned and used your home as your main home for two years out of the five years prior to the date of its sale.


    2. If you have a gain from the sale of your main home, you may be able to exclude up to $250,000 of the gain from your income ($500,000 on a joint return in most cases#.


    3. You are not eligible for the exclusion if you excluded the gain from the sale of another home during the two-year period prior to the sale of your home.


    4. If you can exclude all of the gain, you do not need to report the sale on your tax return.


    5. If you have a gain that cannot be excluded, it is taxable. You must report it on Form 1040, Schedule D, Capital Gains and Losses.


    6. You cannot deduct a loss from the sale of your main home.


    7. Worksheets are included in Publication 523, Selling Your Home, to help you figure the adjusted basis of the home you sold, the gain #or loss) on the sale, and the gain that you can exclude.


    8. If you have more than one home, you can exclude a gain only from the sale of your main home. You must pay tax on the gain from selling any other home. If you have two homes and live in both of them, your main home is ordinarily the one you live in most of the time.


    9. If you received the first-time homebuyer credit and within 36 months of the date of purchase, the property is no longer used as your principal residence, you are required to repay the credit. Repayment of the full credit is due with the income tax return for the year the home ceased to be your principal residence, using Form 5405, First-Time Homebuyer Credit and Repayment of the Credit. The full amount of the credit is reflected as additional tax on that year’s tax return.


    10. When you move, be sure to update your address with the IRS and the U.S. Postal Service to ensure you receive refunds or correspondence from the IRS. Use Form 8822, Change of Address, to notify the IRS of your address change.

    These tips can be found on the IRS website at http://www.irs.gov/newsroom/content/0,,id=104608,00.html.

    Stephen Fishman is a tax expert, attorney and author who has published 18 books, including “Working for Yourself: Law & Taxes for Contractors, Freelancers and Consultants,” “Deduct It,” “Working as an Independent Contractor,” and “Working with Independent Contractors.” 

    If you have equity in your home, we will sell your home and get top dollar in this challenging market, got to County Properties Marketing Homes. If you do not have enough equity, and you must sell your property as a short sale we have the expertise to do so also and close escrow in 45-60 days or less. Learn more about mortgage relief options and how to take advantage of our FREE REALTOR (R)  CONSULTATION .  or go to www.ShortSaleRealtors4U.com

    More questions we can help you, at County Properties, 25 years of brokerage experience, trust and a Member of the local Better Business Bureau! Want to know what your home is worth? Click here for a free market evaluation !

    County Properties is not associated with the government and our service is not approved by the government or your lender.” “Even if you accept this offer and use our free service your lender may not agree to change your loan.

    By the way…if you know of someone who would appreciate the level of service in real estate we provide, please call me or have them go to www.CountyProperties.net and I’ll be happy to follow up and take great care of them.

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