Santa Clarita Valley Real Estate

Contrary to some widely circulated e-mail messages, the new federal health care law does NOT include a 3.8 percent transfer tax on home sales, according to Snopes.com, FactCheck.org and the National Association of Realtors. The new law created a 3.8 percent Medicare tax, which applies to net investment income earned by taxpayers who have an adjusted gross income of more than $200,000 for individuals or $250,000 for married couples. That tax becomes effective Jan. 1, 2013. Net investment income includes capital gains from the sale of a home, so a home sale could push a taxpayer's income into the bracket in which the new tax would apply. However, the existing capital gains tax exclusion of $250,000 for individuals and $500,000 for married couples on the sale of a principal residence is still in effect, and that will protect nearly all homeowners from the new tax. "The truth is that only a tiny percentage of home sellers will pay the tax," FactCheck.org reports. More

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Today I would like to try to save you and your friends some cash on your next property tax bill. If you currently don't own real estate please feel free to forward this email to your friends and family that may benefit from Prop 8. Proposition 8 – What is it? Will it save you money? In 1978, California voters passed Proposition 8, a constitutional amendment that allows a temporary reduction in assessed value when a property suffers a “decline-in-value.” A decline-in-value occurs when the current market value of your property is less than the current assessed value as of January 1. If you purchase d your home or investment property during or after 2003 your current assess ed value may qualify for a reduction. Spring is the time to utilize Prop 8 and start saving money on your property taxes! One client I counseled recently will save over $135.00 per month on their property taxes. You can save about 1.25% for each dollar of reduced assessment. For example if your property ass

SANTA CLARITA, Calif. ( Map ) - City of Santa Clarita Santa Clarita also took home the Grand Prize for its Support for Small Business Program for the category of Economic Development Programs, which recognizes outstanding and innovative programs which made a significant contribution to the field of economic development during 2008. A third Grand Prize was awarded to Santa Clarita for its Enterprise Zone Marketing Campaign for the category of Economic Development Promotions, which recognizes outstanding efforts and achievements in economic development advertising, marketing and promotion. "The City of Santa Clarita consistently strives to implement and execute programs that assist businesses to thrive in Santa Clarita ," said Santa Clarita Mayor Frank Ferry . "These CALED awards are a huge honor, as well as testament to our hard work and dedication to Santa Clarita businesses and its workforce." Most recently, the Los Angeles Economic Development C

This weeks forecast is for wet weather which can lead to something we all should know more about. Ever seen or suspected MOLD in your home? With the rainy season here, mold tends to be more present. Being aware of how to handle mold can have a significant impact on air quality in your home. I found some valuable information from the EPA that offers up recommendations on this live organism. We have all seen the headlines... but most insurance policies don't cover mold. "Mold causes tenant to take landlord to court" (Kenwood, MI) "Star Jones fights uphill mold battle" (New York, NY) "Mold destroys nation's history" (Monticello, PA) Millions of Americans suffer from allergic reactions to molds yet most don't even realize that fungi could be the cause of their sneezing and sniffling. As a resource you can get the U.S. Environmental Protection Agency's handy pamphlet called, "A Brief Guide to Mold, Moisture and Your Home". This pub

Homes sales in the West jumped 13.6 percent to an annual rate of 1.25 million in December and are 31.6 percent higher than a year ago. NAR Housing wizard Yun said the market is actually “ underperforming ” and hurting the broader economy. “We’ ve added 25 million people to our population over the past decade and housing affordability conditions are the best we’ ve seen since 1973, but household formation is much lower than expected,” he said. “Consequently, there is a pent-up demand which could be unleashed with the right stimulus, including a non-repayable home buyer tax credit. The Obama administration and Congress need to move fast to stimulate a spring sales upturn which will help to stabilize home prices and set the foundation for a sustainable economic recovery.” Want an opportunity in today's real estate market. Click here to see this weeks best foreclosure deals. The link below will open your web browser to see the properties. Client Brief Report + Photos The links wi

Buyers and Investors: The Real estate market has changed and the opportunity factor to own your home has been enhanced recently with a large amount of available REO Homes, pre-foreclosure homes, low interest rates, lower home prices, 3% down programs, government programs, first time home buyers benefits, tax advantages, and investment opportunities. Real estate has always been one of the best and safest investments available and the best time to buy is always when the prices are at or near the bottom. Call or email our office for more details on how you can get into a good opportunity! Current Homeowners: Do you need to get out from under your over encumbered property? We can facilitate and negotiate a loan modification with your current lender if you qualify. Sellers: If you need to sell we can arrange to have your property sold with no selling costs to you, or loan balances owed to the lender(s). Our experience with short sales will create the best possible outcome for you, and pr

Santa Clarita Valley Single-Family Homes Statistics Santa Clarita Valley Single-Family Homes Sales Increase 23%, Posting 5 th Consecutive Month of Gains Santa Clarita Single Family existing single-family homes picked up during May in the Santa Clarita Valley, posting the fifth consecutive month of increases, the Southland Regional Association of Realtors ® reported. Realtors® closed escrow on 220 homes, an increase of 22.9 percent over a year ago May and 23.6 percent higher than the tally reported this April. May also marked the first time since June 2007 that more than 200 homes sold in a single month. Every month since January has seen more homes sold than the prior year. Santa Clarita Condominium sales remained sluggish as prospective buyers preferred to focus on single-family homes that for the first time in years are being offered at favorable prices by owners who are willing to negotiate and make repairs or concessions. The market is showing signs of stabilization as we ente

Good news on the maximum conforming limit. Despite the average prices of homes dropping from 2005 to 2006, the office of Federal Housing Enterprise Oversight agreed not to lower the maximum conforming limits. So, they remain at $417,000. Please contact me if I can assist you or your friends with finding, purchasing, selling or financing real estate. david@EagleRealtyUSA.com Eagle Realty USA