Archive for the 'Carmel Valley' Category
Should You Create a Living Trust?
Posted by Rachel LaMar, J.D. | Leave A Comment »
Have you considered creating a living trust? Many homeowners don’t even think about placing their homes in a trust, but there can be some big benefits to doing so and it is very simple to accomplish.
Let’s start with the basics. A trust is a binding legal document in which you name a beneficiary–a person or number of people–to be responsible for managing your property in order to benefit designated trustees (like your children should something happen to you). If you create the trust during your lifetime and elect to make changes to it at any time until your death this is a revocable living trust. You can also create an irrevocable trust, in which the terms cannot be altered.
Benefits of a trust:
1. Harder to overturn your dying wishes. A trust is more iron-clad than a will and does not have to go through probate.
2. Shorter time limits to settlement of your estate once you pass away. Normally upon death of the owner property has to go through probate. This legal process can be lengthy, especially if there are others or creditors claiming an interest in the property. With an established trust survivors are usually able to save time and expenses by avoiding probate.
3. May offer substantial savings on estate taxes. Since the estate will not have to go through probate it will save your survivors money associated with this process.
4. Privacy. Wills, which have to be filed in court upon the death of the maker, can be viewed publicly by anyone requesting a copy, but tems of a trust may NOT be made public. If you have substantial assests in the trust or perhaps some family members who you do not wish to fight over assets, a trust may be a great tool for keeping things quiet.
Caveats:
1. Title Insurance: A title insurance policy is a policy between the title insurance company and the named insured. Once that person creates a trust and names a third party or conveys property (e.g. by putting it into a trust), the title insurance may become invalid. This is because he nature of the relationship has changed–the owner(s) named in the original title policy is no longer the title holder.
A simple call to your title insurer will tell you whether you need to be concerned with this issue. If the trust will effect the policy there is an easy fix–an endorsement can be added to your policy that will effectively name the party covered in your trust. There will be a fee for doing so but it is worth the while if you find that a trust is beneficial to you.
2. Creditors. Depending on your state of residency there may be some issues with creditors being able to attach the real estate of the deceased spouse to satisfy sole debts incurred by that person. You need to check with your attorney to see if this will be an issue for you.
Trusts can be advantageous but it is imperative that you discuss your particular situation with your estate planning or real estate attorney to make sure it is a the right move for you, as not everyone will benefit from establishing a trust. Make sure you have all the information needed so you can make an informed decision.
Popularity: 5% [?]
Related Posts: Baby Boomers, Carlsbad, Carmel Valley, Coastal Living, Contracts & Negotiations, Divorce & Real Estate, Escondido, Financial news, Real Estate News
3rd Quarter Statistics for San Diego Real Estate - Get the Facts
Posted by Diane White | Leave A Comment »
What happened in the San Diego housing market in the 3rd quarter? Most areas saw prices declining because the lower priced homes are the ones selling the most…which has brought down the average sales price. The fact is that most short sales and foreclosures have occurred in the lower price ranges and investors and first time home buyers are taking advantage of it,
This market may dry up sooner then we expected due to lenders being encouraged to modify their loans. Countrywide where one out of four loans were serviced, is being required to do so and they have up to 125,000 loans in California alone.
The number of home sales in San Diego County in the 3rd quarter were pretty steady. Total sales including Resale Detached and Resale Attached Homes were:
September 3,090 August 2,801 July 3,083
Here are the full reports compiled by Data Quick for San Diego County:
Popularity: 30% [?]
Related Posts: Area Information, Area Statistics, Buyers, Carlsbad, Carmel Valley, Condos & Townhomes, Del Mar, Encinitas, Escondido, Find A Home, Market Trends, Real Estate News, San Diego, San Marcos, Solana Beach
Invasion in Carmel Valley
Posted by Catherine Thoreson | Leave A Comment »
October 25th was a lovely Fall day. A perfect day for a party. All the preparations had been made. It was time. Then it happened. They came by the hundreds. They came as princesses, ninjas, pirates and witches. Neighborhood children, parents with strollers and grandpa
rents in tow. Even family pets.
It was the annual Torrey Hills Plaza Fall Festival and, once again, the agents at our Carmel Valley office of Windermere Exclusive Properties were ready for the fun-filled afternoon.
This festival has been known to draw in approximately 1200 people and since the weather that day was beautiful, we expected at least that amount.
In addition to a bouncy house, face painting and fire truck, participants were encouraged to stop by each business in the plaza for treats. Visitors to our office were greeted by Oogie Boogie, and enjoyed crafting a cute foam Halloween frame, participated in our famous coloring contest and, of course, received candy.
We also had something for the adults- bottled water and our expertise of the real estate market. Windermere has several wonderful tools for the homeowner or potential home buyer, and we always like to share what
we know.
Windermere is known for it’s company-wide community involvement, and this festival provides us another way in which we can give something back to the neighborhoods we work and serve in.
We enjoyed meeting everyone that stopped by and invite you to drop in anytime. We always have a qualified agent available to assist with your real estate needs.
After all, we are the neighborhood specialists.
To see our Top Picks of this year’s coloring contest, click here. All winners received a Free Kid’s Meal at Pick Up Stix. Call Catherine Thoreson at (858) 592-9757 for more details.
Popularity: 19% [?]
Related Posts: Activities & Events, Agent Services, Area Information, Carmel Valley, Community Service
Partners. Helpful or A Hindrance?
Posted by Adrienne Dimeno | Leave A Comment »
Why take on a partner?
Could it be another way to grow your business? Which opportunities do you choose? What about succession planning? What’s the best strategy when negotiating for office space? How do you find and keep possible great employees? Can your ego get in the way?
People in every workplace talk about building the team, working as a team, and my team, your team, their team… but few understand how to create the experience of team work or how to develop an effective team. Belonging to a team, in the broadest sense, is a result of feeling part of something larger than yourself. It has a lot to do with your understanding of the mission or objectives of your team.
Defining The Team You Want to build
You are striving to build more effective ways of servicing your customer base. Building your Business by combining efforts results in contributing to the overall success of the team. You work with each member or members of the team to produce a more effective way to service “The bigger picture”, your function exists to serve the bigger picture.
The performance and expectations are joined efforts of work ethics and skills. Commitment to building a strong base to accomplish higher goals of production and growth.
Freedom to Empower
Everyone should have a vision for the mission under way. The strategy is valued by each team person and every accomplishment shared as one! There is more opportunity in team effort because it combines different personalties and allows all to have shared success.
Popularity: 20% [?]
Related Posts: Activities & Events, Agent Services, Buyers, Carlsbad, Carmel Valley, Del Mar, Find A Home
