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Community meeting clarifies questions about mountain lion killing.

2011-04-15T02:56:00Z

April 14, 2011, Redwood City, California

Last night at Sequoia High School, we had a community meeting to discuss the shooting of a mountain lion that wondered into our neighborhood a few weeks ago.
Zara McDonald, Executive Director of the FELIDAE Conservation Fund gave an excellent presentation on the status of the foundation's effort to keep track of these animals in their natural habitats and what we must be aware of when living in close proximity to open space and potential mountain lion county. It was very informative and well presented.

In addition to Ms. McDonald, Marc Kenyon from California Fish and Game spoke as well as Redwood City Chief of Police Mulholland and a representative from the San Mateo Sherriff's Department. Everyone in this neighborhood was very upset about the incident and we rushed to judgment about the force that was used. Zara's input was very helpful to me personally in understanding what is really involved in tranquilizing a big cat and how difficult it really is. Proper training, equipment and funding is desperately needed to ensure that more big cats are not killed.

Below is a link to a video recap of the meeting that you may find useful. I also collected information and handouts from the meeting. If you would like me to mail you a copy, please email me at mlonghi@apr.com

http://redwoodcity.patch.com/articles/video-it-had-to-be-done-residence-owner-said-of-mountain-lion-shooting#video-5643679

Still have questions about the State Department of Fish & Game’s decisions regarding the shooting of the mountain lion on March 29?

2011-04-12T20:10:00Z

Still have questions about the State Department of Fish & Game’s decisions regarding the shooting of the mountain lion on March 29?

Attend a mountain lion discussion on Wednesday, April 13 at Carrington Hall at Sequoia High School from 7:30 to 9:30 p.m. to hear Felidae Conservation Fund co-founder and Executive Director Zara McDonald talk about the current research of mountain lions in the Bay Area.

Officials from the Redwood City Police Department the County Sheriff, a representative from Assemblyman Rich Gordon’s office, the Department of Fish & Game representative and conservationists will also be in attendance.

If you care about these beautiful animals and want to help them continue to survive in our open spaces, please be present at this important meeting!

Juice in the City has a fun entertainment offer for Michael Jackson Fans!

2011-02-04T19:15:00Z

Hey all you Michael Jackson fans. If you want to hear the music you love performed a great MJ tribute band check out the upcoming performance at Redwood City's Fox Theater. And if you get your ticket's through the Juice in the City website - you pay only $ 11 bucks!!

Always at your service,

Martha Longhi, Realtor
For all your real estate needs!

www.MarthaLonghi.com

Before You Sell: Hold a Successful Garage Sale!

2011-01-31T05:22:00Z

Garage sales can be a great way to get rid of clutter — and earn a little extra cash — before you sell your home. But make sure the timing is right. Garage sales can take on a life of their own, and it might not be the best use of your energy right before putting your home on the market. Follow these tips for a successful sale.

1. Don’t wait until the last minute. You don’t want to be scrambling to hold a garage sale the week before an open house. Depending on how long you’ve lived in the home and how much stuff you have to sell, planning a garage sale can demand a lot of time and energy.

2. Get a permit. Most municipalities will require you to obtain a special permit or license in order to hold a garage sale. The permits are often free or very inexpensive, but still require you to register with the city.

3. See if neighbors want to join in. You can turn your garage sale into a block-wide event and lure more shoppers if you team up with neighbors. However, a permit may be necessary for each home owner, even if it’s a group event.

4. Schedule the sale. Sales on Saturdays and Sundays will generate the most traffic, especially if the weather cooperates. Start the sale early, 8 a.m. or 9 a.m. is best, and be prepared for early birds.

5. Advertise. Place an ad in free classified papers and Web sites, and in your local newspapers. Include the dates, time, and address. Let the public know if certain types of items will be sold, such as baby clothes, furniture, or weightlifting equipment. On the day of the sale, balloons and signs with prominent arrows will help to grab the attention of passersby.

6. Price your goods. Lay out everything that you plan to sell, and attach prices with removable stickers. Remember, garage sales are supposed to be bargains, so try to be objective as you set prices. Assign simple prices to your goods: 50 cents, 3 for $1, $5, $10, etc.

7. If it’s really junk, don’t sell it. Decide what’s worth selling and what’s not. If it’s really garbage, then throw it away. Broken appliances, for example, should be tossed. (Know where a nearby electrical outlet is, in case a customer wants to make sure something works.)

8. Check for mistakes. Make sure that items you want to keep don’t accidentally end up in the garage sale pile.

9. Create an organized display. Lay out your items by category, and display neatly so customers don’t have to dig through boxes.

10. Stock up on bags and newspapers. People who buy many small items will appreciate a bag to carry their goods. Newspapers are handy for wrapping fragile items.

11. Manage your money. Make a trip to the bank to get ample change for your cashbox. Throughout the sale, keep a close eye on your cash; never leave the cashbox unattended. It’s smart to have one person who manages the money throughout the day, keeping a tally of what was purchased and for how much. Keep a calculator nearby.

12. Prepare for your home sale. Donate the remaining stuff or sell it to a resale shop. Now that all of your clutter is cleared out, it’s time to focus on preparing your house for a successful sale! Time to give me a call!

Always at your service,

Martha Longhi, Realtor
For all your real estate needs!

REALTOR.org/realtormag

Why you should buy your home now

2010-09-17T17:31:00Z

This is a buyer's market! No ifs, ands or buts! Many buyers have now vanished from the scene, as the tax credits on purchases have expired and job security is iffy. We are 3+ years into the biggest housing bust in modern history and home prices have come down a long way– about 30%! So why are you still sitting on the sidelines ..... Oh, you are waiting for the bottom - right! Will prices continue to fall? They may, but you'll never catch the bottom and it doesn't really matter all that much in the big picture.

What's important to consider is that you can get a 30-year loan in the 4.5% range. What's not to like? These are the lowest rates on record! As recently as 2008 interest rates where over 6%. That drop slashes your monthly repayment by a fifth. If inflation picks up, you won't see these mortgage rates again in your lifetime. And if we get deflation, and rates fall further, and you can refinance!

- You can deduct the mortgage interest from your income taxes.
- You can deduct your real estate taxes.
- You'll get a tax break on capital gains–if any–when you sell.

Rethink buying a home in 2010, it is a good time to buy.

Martha Longhi, Realtor
For all your real estate needs!

Data from: Wall Street Journal

Good News For Redwood City - Federal Monies Coming

2010-08-12T04:51:00Z

REDWOOD CITY TO RECEIVE ABOUT $1.6 MILLION FROM FEDERAL JOBS BILL

Last week Acting California Governor Abel Maldanado signed into law SB 847 which will provide local school districts with federal funds to preserve education jobs in California. This law allows the state to distribute $1.2 billion in funds from the federal jobs measure that was approved by the U.S. House of Representatives and signed into law by President Obama last month.

Preliminary estimates indicate that the Redwood City School District will receive about $1.6 million. No decisions have been made yet about how the funds will be spent. The district signed a contract with the Redwood City Teacher's Association last spring that states, "In the event that the District receives new State or Federal Stimulus funds, the parties agree to negotiate regarding the funds." Accordingly, the district will be in discussions with the union about how the funds may be spent in the very near future.

The district's Financial Advisory Committee, which advises the superintendent on the district budget, will meet on September 22 to discuss their recommendations for this additional funding.

Always at your service,

Martha Longhi, Realtor
For all your real estate needs!

Data from: Update from Redwood City School District, 9.13.10

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FHA launches refi program for underwater borrowers

2010-08-12T04:32:00Z

The Federal Housing Administration (FHA) last week provided details on its“FHA Short Refinance” program that will enable lenders to provide additional refinancing options to underwater homeowners. Beginning Sept. 7, the FHA is offering eligible underwater non-FHA borrowers the opportunity to qualify for a new FHA-insured mortgage.

Participation in FHA's refinance program is voluntary and requires the consent of all lien holders. To be eligible for anew loan, the homeowner must owe more on their mortgage than their home is worth and be current on their existing mortgage.The homeowner must qualify for the new loan under standard FHA underwriting requirements and have a credit score greater than or equal to 500. The property must be the homeowner's primary residence and the borrower's existing first lien holder must agree to write off at least 10 percent of their unpaid principal balance, bringing that borrower's combined loan-to-value ratio to no greater than 115 percent.

Additionally, the existing loan to be refinanced must not bean FHA-insured loan, and the refinanced FHA-insured first mortgage must have a loan-to-value ratio of no more than 97.75percent. Interested homeowners should contact their lenders to determine if they are eligible and whether the lender agrees the write down a portion of the unpaid principal. Get more information here

Always at your service,

Martha Longhi, Realtor
For all your real estate needs!

data from C.A.R. Newsletter, August 11, 2010

Aug. 15: Last day to apply for state first-time buyer tax credit

2010-08-10T19:44:00Z

The Franchise Tax Board recently announced it will accept applications for the California first-time home buyer tax credit through midnight on Sunday, Aug. 15, 2010. The FTB believes it will have received more than enough applications to cover the $100 million allocated for eligible first-time home buyers. It will continue to accept applications for the new-home portion of the state tax credit.

Due to the high volume of faxes the FTB is receiving, consumers may experience some delays and difficulties in connecting to the fax number during normal business hours. It can take several minutes or possibly up to an hour to connect and transmit the fax. Buyers who receive a busy signal are advised to try again later. The fax number is open 24 hours a day, so consumers may fax applications during non-business hours when the line is not as busy.

For more information about the California state tax credits for first-time buyers and buyers of new homes, including eligibility requirements, please visit http://www.ftb.ca.gov/individuals/new_home_credit.shtml.

Always at your service,

Martha Longhi, Realtor
For all your real estate needs!

San Mateo County Real Estate Market Update

2010-07-30T23:58:00Z

What's going on in the market: July 2010 Update

The market continues to change, but not in an unrealistic manner. It's actually quite logical in some ways. Prices are stable in the cities with the best school systems such as Burlingame, San Mateo, San Carlos, Redwood Shores, and Menlo Park. Homes in these areas are selling because they are properly-priced, well-maintained and are hitting the market when interest rates are at a 50 year low - A 50 year low people! Multiple offers are still being seen, especially when the home is priced to sell, not under or over market, but at market.

There are still a good number of qualified buyers that are actively seeking a home. Many of which are first-time buyers. They are new to the real estate game and believe what they hear on the news. They think they can get a "steal of a deal" - rock bottom prices!! right! WRONG. Not in San Mateo County! There are some "good deals" out there, but not always in the best of areas and almost always they need work! But even if you first-timers think you'll go for that fixer, you still may not get it,because investors are out there looking too and they usually beat out the first-timer by offering All Cash offers, Quick Closings and NO contingencies.

If you are a First-time buyer, focus on the well-maintained homes in good neighborhoods. Look at the neighborhood's sale history. Real Estate is always a matter of neighborhood and property for the best investment.

If you are looking in the over $1 million range, you have the upper hand, high-end properties are staying on the market for longer periods of time. Many of these homeowners need to sell and are trying to avoid finding themselves in a short sale situation. The high-end market is a market of opportunity - right now! There are many great homes available in wonderful areas. Search the San Francisco Peninsula right now!

Allow me to help you find and buy your future home.
For all your real estate needs.

Martha Longhi, Realtor®

Alain PinelRealtors
650.787.9980 Direct
www.MarthaLonghi.com

Shop for the Best Mortgage Interest Rate

2010-07-23T22:14:00Z

Hey folks, just an FYI to anyone that is shopping for a new mortgage. Although mortgage rates look astoundingly low, the spread between what the banks receive and what they pay investors has actually increased, giving banks more room to negotiate.

Applicants with good credit scores should aggressively seek out the best rate they can by comparison shopping. Start with the bank you usually do business with, they want your business and may negotiate a better deal for you than you might think.

It is still very important to get your loan pre-approval in place before you start shopping for a property. When you find the right place, you'll need to move fast, submit a competitive offer accompanied by your loan pre-approval letter. It makes your offer stronger and more likely to be considered by the seller.

Date from: The New York Times, Jennifer Saranow Schultz (07/17/2010)

Martha Longhi, Realtor®

Alain PinelRealtors
650.787.9980 Direct
www.MarthaLonghi.com

July 4th Festivities in the San Francisco Bay Area

2010-07-03T21:09:00Z

What's happening on the Peninsula during the 4th of July weekend? KGO has a great comprehensive list on their web site of events across the state. Here's a few of the Bay Area activities:

San Mateo County

Leo J. Ryan Park
http://www.fostercity.org/Services/recreation/TH-4th-of-July-Celebration-Main-Page.cfm
Foster City Fourth of July Celebration - Pancake breakfast,family parade, arts and crafts, barbecue, games, concert and fireworksshow over the lagoon. Sunday, July 4, 2010, 8am - 9:45pm. Fireworksstarts 9:30pm sharp. 650-286-3380.

Mitchell Park, Palo Alto
http://www.cityofpaloalto.org/visiting/news/details.asp?NewsID=951&TargetID=55
http://sf.funcheap.com/29th-annual-summer-festival-chili-cookoff-palo-alto/
29th Annual Summer Festival & Chili Cook-off - Teams of chefsbattle for the chlli championship, live music, line dancing, children'sactivities, and food vendors. Free admission. Sunday, July 4, 201012pm - 5pm (Chili tasting starts at 1:30pm). Mitchell Park, 600 EastMeadow Drive, Palo Alto, CA. (650) 463-4921.

Redwood City
http://www.parade.org/index.html
http://sf.funcheap.com/4th-july-2010-independence-day-parade-festival-redwood-city/
Independence Day Parade & Festival - Parade theme this yearis "The Magic of Green;" winners receive awards and cash prizes.Festival includes Battle of the Bands, food, arts & crafts, kidsarea. Parade begins at Winslow & Brewster Ave. Redwood City.Festival is at Marshall & Jefferson, Redwood City. Parade 10 a.m. 12:30 p.m., festival 9 a.m. 5 p.m. (650) 365-1825.

Santa Clara County
Central Park in Santa Clara
http://santaclaraca.gov/index.aspx?page=41&recordid=2457
July 4th All City Picnic - Breakfast, entertainment, music,carnival games, face painting, swimming, food. Fireworks display at9:30pm. Sunday, July 4, 2010. (408) 615-3140.

Cupertino
http://www.cupertino.org/Modules/ShowDocument.aspx?documentid=3418
4th of July Celebration - All Day Sunday July 4, 2010. 7am -9:30am Breakfast at the Quinlan Community Center, 10am Parade withfamily concert to follow, 6:45pm musical entertainment at CreeksidePark, Hyde Middle School or Sedgwick Elementary. Fireworks begin at9:30pm. (408) 777-3110, (408) 777-3120

Morgan Hill
http://www.mhidi.com/Home_Page.html
Morgan Hill Independence Day, Inc. - 5K run and one-mile walk atP.A. Walsh School, family bike ride at Coyote Creek Trail, car cruiseand parade in downtown Morgan Hill, fireworks at Morgan Hill CommunityPark. Sunday July 4, 2010. Festivities begin with one-mile walk at 8a.m, other events to follow.

San Jose Municipal Stadium
http://www.sjgiants.com
San Jose July 4th Fireworks Celebration - San Jose July 4thFireworks Celebration - 95.3 KRTY'S All-American Country Jam - concertfeaturingCountry Music Artist Chris Cagle and a performance by Ash Bowers.Sunday, July 4, 2010. 588 EastAlma Avenue, San Jose, CA. 408-297-1435.

Shoreline Amphitheatre
http://www.livenation.com/edp/eventId/422326
The 24th Annual 4th of July Fireworks Spectacular - featuringthe San Francisco Symphony and music from Wicked, Rocky, West SideStory, Peter Pan, Titanic, Raiders of the Lost Ark, Star Wars and manymore! 4-pack of Reserved Seats are only $79! Tickets at LiveNation.com

Marin County

Sausalito
http://sanfrancisco.about.com/
Fourth of July Parade/Picnic - Parade through downtown to DunphyPark. Food, music, games all day at Dunphry Park. 10 a.m. 5 p.m.Parade begins at intersection of Second and Main Streets. Dunphy Park:Bridgeway and Napa St. Sausalito.

USS Hornet Museum
http://www.uss-hornet.org/calendar/4thjuly/index.shtml
Fourth of July Party - Fireworks, ship tours, live music on theflight deck, and interactive games. Sunday, July 4, 2010, 1pm - 9pm.707 W. Hornet Ave, Alameda, CA 94501. (510) 521-8448 x282.

Santa Cruz County

Roaring Camp Railroads
http://www.roaringcamp.com/events.html
4th of July Celebration - Sock Hop and 50's family 4th of July.Hula Hoop contests, games, live music and all-American barbecue.Saturday July 3 and Sunday July 4, 2010.

Wilder Ranch State Park
http://www.santacruzstateparks.org/whatsnew/news_detail.php?id=191
Independence Day 1910 Celebration - 1910-style patrioticexercises, parade, music, games, food, music. Visit historic Meder Ranchhouse and ranch animals. Sunday, July 4, 2010. 11 a.m. 4 p.m. Hwy. 1,10 miles north of Santa Cruz. (831) 426-0505.

Scotts Valley

www.scottsvalley.org
4th of July Fireworks - Parade, food, games,petting zoo, musicfeaturing "Mike Hadley and the Groove," fireworks. Parade begins 3 p.m., fireworks begin 9:15 p.m.Skypark 361 Kings Village Road, Scotts Valley.

Get the full details of statewide festivities here

Have a Fun and Safe 4th everyone!!

Data from: http://abclocal.go.com/kgo/feature?section=news/local&id=6868364

What's up in Redwood City for the 4th!

2010-07-03T20:14:00Z

Redwood City will host it's Independence Day Parade & Festival on July 4th with the 72nd Annual Parade and Festival in the downtown square. This year's Parade theme is "The Magic of Green;" winners will receive awards and cash prizes. The Festival will be hosted at Marshall & Jefferson in Redwood City beginning at 9am and running through 5pm. It will include Battle of the Bands, Food, Arts & Crafts, and a Kid's area. The Parade begins at the corners of Winslow & Brewster Ave promptly at 10am and will finish up around 12:30pm. Don't miss this fun event!

But what about Redwood City's Firework Display?? Unfortunately due to budget cuts the annual high aerial fireworks show has been nixed. Unfortunately, the PCS (the Peninsula Celebration Association) has informed City leaders that they will not produce a fireworks display at the Port of Redwood city this year. Get the full statement

So where do we go for Firework's now??

Here's what going on in neighboring communities.. Still plenty of Firework's to see.. take a look!

Leo J. Ryan Park
http://www.fostercity.org/Services/recreation/TH-4th-of-July-Celebration-Main-Page.cfm
Foster City Fourth of July Celebration - Pancake breakfast,family parade, arts and crafts, barbecue, games, concert and fireworks show over the lagoon. Sunday, July 4, 2010, 8am - 9:45pm. Fireworks starts 9:30pm sharp. 650-286-3380.

Alcatraz
http://www.alcatraz.us/?event=offer.detail&offerId=3718
Fourth of July Dinner Dance & Fireworks Cruise in San Francisco- Four-course seated dinner, open premium bar, fireworks, live bands and dancing, 6:30pm - 11pm. 1(800)-410-8233.

Blue and Gold Fleet
http://www.blueandgoldfleet.com/Special/index.cfm#c2
4th of July Fireworks Cruise - Watch San Francisco fireworks fromthe bay. Departs from Pier 41, San Francisco, CA at 8 p.m.Non-alcoholic cruise departs from Pier 39, San Francisco at 8:15 p.m.(415) 705-8200.

Pier 33, Alcatraz Landing
http://www.alcatrazexcursions.com/july4th.aspx
4th of July Fireworks Cruise - Fireworks Cruise, snacks,cocktails, wine, beer - please note does not dock on Alcatraz Island.Sunday, July 4, 2010 boarding 7:15pm - 8:15pm, cruising 8:15pm -10:30pm. Pier 33, Alcatraz Landing, San Francisco, CA. (415) 438-8365.

Pier 39
http://www.pier39.com/Events/
Fourth of July Waterfront Celebration - Live band performances,Tainted Love, and street performers. Fireworks display starts at 9:30pm. Sunday, July 4, 2010, 3pm - 9:30pm. Pier 39, San Francisco,CA 94133. 415-989-7437.

Above all - enjoy your holiday weekend. Take a little time to acknowledge the wonderful freedom's and blessings that we all enjoy. Have a great 4th everyone!

Data from: abclocal.go.com/kgo/feature?section=news/local&id=6868364 and www.parade.org/fireworks.html

Just anotherlittle tidbit from your Redwood City Realtor, Martha Longhi

Redwood City - Free Movie Every Thursday night on Courthouse Square

2010-06-30T19:02:00Z

Where else can you pull up a chair and sit in the warm evening glow and enjoy a FREE movie! Downtown Redwood City of course! Just come on down to Courthouse Square! Bring the family out to a FREE movie! The Summer experience continues with a showing of 12 movies on Thursday evenings starting at sundown (approximately 8:45pm). Come early for the best seats (a limited number of chairs and tables are available).

Bring your blankets, pick up take-out food from the nearby wonderful restaurants and experience the outdoor "theater" with our 25 foot inflatable screen.

Just another great reason to visit our wonderful City! Checkout the lineup at: www.redwoodcity.org/events/movieschedule.html

This experience is brought to you by the Redwood City Redevelopment Agency and the Parks, Recreation and Community Services Department where building a great community together is our mission.

And remember, if you are thinking of buying a home in Redwood City, Call Your Redwood City Realtor, Martha Longhi!

Martha Longhi, Realtor®

Alain Pinel Realtors
650.787.9980 Direct
www.MarthaLonghi.com

Sunny Redwood City - Today's Open House, Sunday, June 27th, 2010

2010-06-27T19:07:00Z

Martha Longhi
Redwood City Realtor
Today's Open House: 314 Nevada St.

A Fabulous Mt. Carmel Remodeled Home!
4 BR /2.5 BA, pool, terrific kitchen!
Come visit this lovely home today 2 to4pm in sunny Redwood City!

Details - click here

Redwood City - There's a new gym in town

2010-06-24T17:55:00Z

Crunch Acquires Redwood City and San Mateo Gold's Gym Sites

When I went to the gym this morning for my morning workout, I was informed that my Gold's Gym had been acquired by Crunch. Crunch acquired both the Redwood City and San Mateo clubs on Tuesday and plans to incorporate newer, trendy classes. RWC regulars are not quite sure if this is a good thing or not. Guess we'll just have to wait and see what happens! Oh the Drama!!

Whether it's a new gym, great free summer concerts, fabulous restaurants, open spaces, beautiful neighborhoods and so much more, remember folks, Redwood City is a great place to live!

Just another little tidbit from your Redwood City Realtor, Martha Longhi

Martha Longhi, Realtor®

Alain PinelRealtors
650.787.9980 Direct
650.548-1238 Fax
www.MarthaLonghi.com

My business is based on service and attention to detail.
Please contact me for all your real estate needs.
Your referrals are always appreciated.

Redwood City's Summer Entertainment Schedule

2010-06-22T23:24:00Z

Redwood City's wonderful summer entertainment schedule is now in full swing! So many great ways to hear live music all over this great community of ours!

You've got Free Lunchtime Music, to Movie Nights on warm weekend evenings, Music in the Park and so much more. Just another reason why Redwood City is a great place to live! Take a look at this fantastic schedule

Just another little tip from your Redwood City Realtor, Martha Longhi!

Martha Longhi, Realtor®

Alain PinelRealtors
650.787.9980 Direct
650.548-1238 Fax
www.MarthaLonghi.com

Mybusiness is based on service and attention to detail.
Please contact me for all your real estate needs.
Your referrals are always appreciated.

What is a cap rate?

2010-05-03T22:24:00Z

What is a cap rate?

Some buyers ask what a home that is currently for sale would rent for. Not because the sellers will rent it, but because from that rental rate they can determine the capitalization rate. This is the rate that is the amount of rental income you would earn if you bought the house and leased it out.

Say you bought for $100,000 (round numbers work best), and produced $5,000 per year in rental income – the cap rate on the house would be 5%. For a $3.75 million purchase with a yearly rental of $110,000 - the cap rate is 3%. The higher the cap rate, the better for the buyer.

Why do I get asked this? Some buyers want to analyze the return on their investment by comparing the cap rate to the interest rates they could earn in an institution. Just remember that property may be the best investment long term despite the market's ups and downs.

Home prices have stabilized in Redwood City and the Mid-Peninsula

2010-05-03T22:10:00Z

Home prices have stabilized in Redwood City and the mid-peninsula. Mortgage interest rates continue to linger at historically low percentages. There is a sense that the market is turning and conditions are optimal in most of the country. Locally, we're seeing many positive signs of growth. Well-priced homes that are based on current comparables and are marketed aggressively may receive multiple offers and most sell within one or two months.

If you are thinking of selling, now is the time to talk to a professional that knows this market. I am ready to assist you. Call me to set-up an appointment.

FHA requirements change for borrowers with >580 Credit Score

2010-05-03T22:00:00Z

Home Buyers, there are changes in the FHA mortgage program that may affect you orsomeone in your family. Beginning this month, May 2010, the down-paymentrequirements on loans insured by the FHA have increased to 10% forborrowers with credit scores below 580.

The good news isfor borrowers that qualify for an FHA loan with credit scores above580, the down-payment is still 3.5%.

As a result of these tighter FHA regulations, fewer borrowers willqualify for government-insured mortgages. Check out more info at www.money.cnn.com or www.fhaloanpros.com for more information.

Redwood City residents can GREEN Up and get credit for it too!

2010-04-29T00:28:00Z

If you’re a homeowner in Redwood City, San Mateo county or anywhere in the US, it’s a given that you claim the mortgage interest deduction on your tax returns. If you are a green-minded homeowner, youmay be eligible for a federal tax credit if you purchase or have purchased (keep those receipts) an energy-efficient product or are newable energy system for your home.

These credits apply to the following if purchased between Jan. 1, 2009, and Dec. 31, 2010: Biomass stoves; insulation; heating, ventilation, and air conditioning upgrades; windows and doors; roofs; and non-solar water heaters. The credit allows homeowners every 2 years to claim 30% of the cost of the system, for a maximum credit of $1,500. This credit expires Dec.31, 2010. Please note that some of these tax credits do not apply to installation costs, and not all ENERGY STAR products qualify for the tax credits. Please consult www.energystar.gov/index.cfm?c=tax_credits.tx_indexfor specifics.

If you’ve decided to purchase small wind turbines, a geothermal heat pump, or a solar energy system for your principal residence or a new home construction, you have until Dec. 31,2016, to make the purchase. You also can receive a tax credit of 30% of the cost (no upper limit).

Check out the following resources:

• Database of State and Federal Incentives for Renewables & Efficiency (http://www.dsireusa.org/): Provides a comprehensive list of all local, state, and federal rebates, taxcredits, and property tax reductions for green enhancements to homes andnew construction.

• Better Than a Credit: If you participated in the Cash for Clunkers program and purchased a more fuel-efficient car, remember, your $3,500 or $4,500 rebate is not considered taxable income. If you actually purchased a hybrid, you may qualify for an energy tax credit (http://www.fueleconomy.gov/Feg/tax_hybrid.shtml). Cars purchased after Dec. 31, 2010, are no longer eligible for the energy tax credit.

• ENERGY STAR Rebates and Partners: Type in your ZIPCode and find tax exemptions, rebates, or discounts on ENERGY STAR-rated products in your local area -- everything from DVD players to waterheaters at http://www.energystar.gov/index.cfm?fuseaction=rebate.rebatelocator.

Take advantage of these credits - there is no time like the present to GREEN Up and get credit for it too!

source: CAR Newsletter