Archive for the 'Real Estate News' Category
You Owe How Much? - There’s Still Time to Appeal Your Property Taxes for This Year
Posted by Pam & Joanna | Leave A Comment »
Are you having sleepless nights over your property tax bill?
As you probably are aware, Dec 10th is the final due date for the first installment of your property taxes.
If you don’t agree with the assessed value of your home, there’s still time to appeal that assessment. November 30th is the deadline, so you need to act quickly. You can do this yourself - you don’t need to pay one of those companies out there trying to get your money.
Go to their website: http://co.san-diego.ca.us and download the application ‘assessment appeals’. This is a fairly straight forward process and explanations are attached. Something they don’t explain is when looking for comparative properties you will need to find homes which have sold no later than 90 days after Jan 1st of the year you are appealing.
The property tax bill you have in your hands now is for July 1st 2008 - June 30th 2009, the comps you find will need to be sales no later than March 31st 2008. Go to Zillow or Trulia for home comp sales, or if you have a friend who is a Realtor, you could always ask them to print off some comps for you. Realtors are great people they do all sorts of things for free!
After sending the appeal in you will receive a postcard stating they have received your assessment appeal and will schedule a hearing date. Your assessors office should call you before this date to discuss the value of your property and try to come to some agreement over the telephone. If you don’t reach an agreement you will need to attend the hearing.
Good luck - it’s really worth the effort if you save yourself some dollars.
Popularity: 4% [?]
Related Posts: Financial news, Real Estate News
Keeping the “Real” in Real Estate
Posted by Beverly Stuart | Leave A Comment »
The first question most sellers ask a Realtor is “How Much Can You Sell My Home For?”
While it is easy to build up the hopes of a seller by agreeing to their perception of a market price, reality is somewhat different. I was recently asked by a client to give a listing presentation on one of his homes in the Downtown San Diego Area. I diligently did all my homework, found comps, and went to the appointment armed with printouts, slide shows, all the bells and whistles.
The price question was almost the first question from the seller and I presented my findings on the area and showed all my supporting information.
“Well, I had another Real Estate Agent tell me that I could get at least $75,000 more than you!” At this point it would have been easy to agree and get the client to sign the Listing Agreement right then and there.
What happened next is sometimes the hardest part of being a Realtor……. I explained that with the current market conditions (etc…etc…) that property needed to be realistically priced to even get buyers to look at it.
After several minutes of discussion the seller turned to me and asked why I was so adamant about the price. I explained that I had to put my name and reputation to the listing and that “Keeping the “Real” in Real Estate” was my way of doing business. I would rather sell your home in a shorter time at market value than list it high, wait for a month and reduce the price, wait ANOTHER couple of months and reduce the price again and finally get an offer in month 5 or 6. Moving is stressful enough without any added hassle.
I did get the Listing and I also got a referral from my client due to “My Honesty and Commitment to Customer Service”.
Keep it Real People.
Popularity: 5% [?]
Related Posts: Homeowners, Real Estate News, Sellers
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: 4% [?]
Related Posts: Baby Boomers, Carlsbad, Carmel Valley, Coastal Living, Contracts & Negotiations, Divorce & Real Estate, Escondido, Financial news, Real Estate News
Ring Tailed Tooter Of The Week
Posted by Pam & Joanna | Leave A Comment »
Now, don’t you think everyone should own their own Private Village in the Covenant of Rancho Santa Fe?
California’s classic indoor/outdoor lifestyle begins with the expansive panoramic and private view site-5 acres of sprawling lawns, fragrant gardens, lemon groves, vast covered verandas, resort infinity edge pool/spa, full regulation tennis court…
Separate ’self-contained’ detached guest home , full staff quarters in main estate. Custom theater room, temperature controlled walk-in wine cellar separate tasting area, professional gym with private entrance for trainer, Art & Craft room w/private view balcony, 7+ car garage, His and Her separate offices, bonus play room off three bedroom suites, authentic English conservatory off gourmet kitchen.
Total Bedrooms: 10
Total Baths: 16
Total Sq. Ft. 14222 (That’s about 1/3 acre!)
1620 Las Colinas in Rancho Santa Fe
Just Sold For…… $15,000,000
Popularity: 2% [?]
Related Posts: Rancho Santa Fe, Real Estate News
