Shirley's San Antonio Real Estate Blog

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Monday is the extended deadline for filing a property tax protest!

A friend of ours got her 2009 tax appraisal and was surprised to see that her assessment had gone up by $6,000.  We checked on the other homes in her neighborhood on the  Bexar Appraisal District website and found that the majority of appraisals had been reduced by approximately $2,000.  Her husband passed away a few months ago so this past year has been a difficult one.  She was dismayed when she received the tax notification and made an appointment to protest the increase.  The employee she met with refused to lower the assessment from the previous year but finally offered to leave it at the last year's figure and not increase the assessment. 

The deadline for filing a protest is tomorrow, May 31, but since it is a weekend you have until Monday to file.  If your assessment increased by more than $1,000 you should have received notification by mail.  To find out your assessed valued for 2009 click here .

 

 

 

 

Hablamos español.

 

SRES DEswg w tag

As an SRES® designee, I have received additional education on such topics as tax laws, probate, estate planning, equity conversion strategies, and can offer you information on current market trends as well as valuable resources regarding real estate transactions.


$8,000 FIRST TIME BUYER TAX CREDIT - CHECK RECEIVED !!!!

This is pretty awesome!

Via Sheldon Neal -- That British Agent -- (Bergen County, NJ - RE/MAX Real Estate Limited):

 

 

 

This is an actual check from one of my First Time Buyers who bought a home last month, and immediately filed his 2008 tax return - which he had already filed an extension for - and this week received the above check !

 

... before his home purchase, his return was going to give him a refund of approximately $4,000 !!!! ... as you can see, he qualified for the tax credit, and received $8,000 additional dollars from the government for buying his home.

 

@@@ FOR FURTHER INFORMATION - BE SURE TO CONSULT YOUR ACCOUNTANT TO SEE IF YOU CAN RECEIVE THIS YOURSELF @@@

 

Per the IRS.gov website, you may qualify to receive this credit if you meet the following qualifications:

"... qualifying taxpayers who buy a home before Dec. 1, 2009, can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.

The amount of the credit begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.

For purposes of the credit, you are considered to be a first-time homebuyer if you, and your spouse if you are married, did not own any other main home during the three-year period ending on the date of purchase."

 The credit itself:

  • Applies to purchases that close after April 8, 2008, and before Dec. 1, 2009.
  • Applies only to homes used as a taxpayer's principal residence.
  • Reduces a taxpayer's tax bill or increases his or her refund, dollar for dollar.
  • Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.

 

So if you were considering buying a home this year - be sure to talk to your accountant as you may also qualify to get $8,000 extra dollars for buying your first home !

 

ALSO: Be sure to check out a post  from respected Loan Officer Jeff Belonger explaining how you may be able to receive an 'up front loan' for this credit to use towards closing costs or additional downpayment over your mandatory 3.5% payment on your FHA loan !

@@@PLEASE NOTE: ALL INFORMATION ABOVE DEEMED RELIABLE PER THE IRS.GOV WEBSITE, HOWEVER IS SUBJECT TO CHANGE AT ANY POINT ON ANY DAY ! - CONSULT YOUR TAX ACCOUNTANT BEFORE EXPECTING ANY PORTION OF THIS CREDIT.

 

 

 

 

Hablamos español.

 

SRES DEswg w tag

As an SRES® designee, I have received additional education on such topics as tax laws, probate, estate planning, equity conversion strategies, and can offer you information on current market trends as well as valuable resources regarding real estate transactions.


$8,000 First Time Homebuyer Tax Credit - Approved by FHA/HUD 5-29-09 - But buyer BEWARE !!!

Via Jeff Belonger -- The FHA Expert.com -- FHA Loans -- FHA mortgages - USDA loans (Infinity Home Mortgage Company, Inc):

Tax credit for first time homebuyers

 

 

BUYER BEWARE of Tax Credit

 

The first time homebuyers tax credit of $8,000 has been approved by HUD for all FHA loans. But don't get too excited too quickly. If you get a chance to read the mortgagee letter, ML 2009-15, it states that you can't use this tax credit for the required down payment of 3.5%.

HUD originally put out mortgagee letter 2009-15 on May 12th, but was rescinded the next day. Please read about that here : $8,000 tax credit rescinded by HUD. For some reason, it was prematurely placed on HUD's web site, but apparently wasn't finalized. Now we have a new version and if not read correctly, you could be putting misinformation out there. So what does the new mortgagee letter state?

 

 

 

Here is the positive part about the tax credit. You can receive the first time homebuyers tax credit upfront, but not through the IRS.  This would be illegal. Please read : It's illegal to receive your tax credit before you close on your homeBuyers - BEWARE, please read that, because too many people are saying that you can get the money directly from the IRS prior to closing. The IRS & HUD both say no!!!

So how can you receive this upfront?  It can be given to you as a second or a silent second from any Federal, State, or local agencies, and any FHA mortgagee or any FHA approved non-profit organization.  People, in layman's terms, this is already acceptable by HUD's standards, except for the lender that is now able to give the monies upfront in a form of a 2nd mortgage. Another terminology is that this can be an advance loan from any of the entities mentioned above.

 

 

Summary :  Essentially, this means that the entities mentioned above, are purchasing this tax credit on your behalf and giving it back to you. The short version of this is that you can use some of the money from the $8,000 Tax Credit as your down payment, but after you put down the first 3.5% of that down payment. Meaning, you have to come up with 3.5% of your own money still. With FHA loans, it can still be a gift from a relative/family member.  It also can come from non-profit or government agencies to be used as your initial down payment, but not used through the tax credit. Overall, the tax credit that is advanced, can be used for all closing costs. But you can't receive monies back at closing. 

And again, keeping in mind, it's illegal to receive this tax credit upfront directly from the IRS. There is more verbiage in the mortgagee letter 2009-15 , but the main point is that you have to have 3.5% of the downpayment yourself, before you can use the tax credit that would be 'loaned' to you.

 

 

THOUGHTS??? - Well, in all honesty, how does this truly help? What is the gov't thinking here? As a buyer, I would still need the initial 3.5% of my monies for the down payment. Again, needing money to buy. I know some of you are for this fact, that buyers should have skin in the game. But keep in mind, this was not the true demise to our foreclosure mess. We need to sell houses to keep this economy going.  Just my opinions and food for thought.  thanks

 

 

 

follow Jeff Belonger on Twitter

 

 

- FHA Loans - USDA Loans - VA Loans -

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Experience & Knowledge at its BEST !!!

 

_________________________________________________________________________________________

For more information on FHA loans, please go to this link. The FHA Expert

For more information about the 2009 Tax Credit for First Time Homebuyers : 2009 Tax Credit

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags !!!!

Copyright © 2009 by Jeff Belonger

 

 

 

 

Hablamos español.

 

SRES DEswg w tag

As an SRES® designee, I have received additional education on such topics as tax laws, probate, estate planning, equity conversion strategies, and can offer you information on current market trends as well as valuable resources regarding real estate transactions.


~How Should the Seller Prepare for a Home Inspection?~

You have accepted an offer on your house and it is time for the home inspection.  Don't be nervous, be prepared.  Here are a few tips to make a the inspection go more smoothly:

• First of all, leave the utilities connected, even if the house is vacant. A home inspector requires access to the water, gas, and electricity to be able to test the appliances, furnace, hot water heater, air conditioner, plumbing, etc.  If the inspector arrives and the utilities are turned off, the inspection will have to be rescheduled.

Give your house a good cleaning before the inspection.  It creates a good impression of your house on everyone who will be present at the inspection, the buyer, the buyer's agent, and the inspector. 

Gather all the receipts and repair documents to show the inspector any repairs you have already taken care of. These items should show the dates when appliances and other items such as the furnace were last serviced. 

The inspector needs to have clear access to the garage, attic, furnace, hot water heater, and electrical panel so may sure to clear the way or any clutter that may obstruct the inspector and delay the inspection process. 

• Make plans to leave the house during the inspection!  This is a much appreciated courtesy since it is an uncomfortable situation for the buyers, the buyers agent, and the inspector if the homeowner is present during the inspection. If you have kids and/or pets take them with you and plan on being gone for up to 3 hours. 

-photo http://www.flickr.com/people/feralboy/

 

www.shirleyparks.com

 

 

 

 

Hablamos español.

 

SRES DEswg w tag

As an SRES® designee, I have received additional education on such topics as tax laws, probate, estate planning, equity conversion strategies, and can offer you information on current market trends as well as valuable resources regarding real estate transactions.


~WICKED comes to San Antonio~

Broadway Across America San Antonio presents the legendary Broadway show WICKED at the beautiful Majestic Theatre from June 3-28, 2009. 

A lottery for a limited number of orchestra seats will be held daily  2½ hours before show time.  These tickets are for the day of performance only.  Anyone in line at the Majestic Box Office will receive an entry form to complete and drop into a lottery drum.  Two hours prior to the show, names will be drawn for a limited number of orchestra seats priced at $25 each and cash only.  You must be there in person at the Box Office to win.  A limit of 2 tickets per person will be given. 

WICKED is the winner of 20 major awards, including a Grammy and three Tony Awards.  The New York Times calls WICKED "Broadway's biggest blockbuster." USA Today calls it "the most completely satisfying new musical in a long time."

CLICK HERE for tickets.

 

 

 

 

 

 

Hablamos español.

 

SRES DEswg w tag

As an SRES® designee, I have received additional education on such topics as tax laws, probate, estate planning, equity conversion strategies, and can offer you information on current market trends as well as valuable resources regarding real estate transactions.


Despite what you might think, the real estate agent is working harder than ever to make the deal happen, and is earning every penny the hard way!

Via Richard Weisser Coweta Fayette Real Estate ERA United Realty:

Newnan Historic HomeThere is a common perception that the real estate agent has a lot less work to do today, thanks to technology and the Internet. Buyers are able to "shop" online and easily identify properties that nay be good prospects to purchase.

But if you were to ask any real estate agent this question: "now that the Internet allows buyers to find their open houses, isn't job of the real estate agent much easier?" you mighty be surprised at the answer.

Many deals are constantly under assault by any one of a number of issues that seek to interrupt the process. Delays stem from a number of sources, many of which are out of the real estate agent's control, but require action on behalf of the agent to resolve.

Any one of a combination of these items can lead to trouble in a transaction:

  1. Title issues. With all of the foreclosures and short-sales, getting clear title can take a lot moiré effort, and there may be delays. The most common severe delay on a foreclosure sale is a Federal tax lien, which is not extinguished by the legal proceeding. This can take up to 120 days to resolve.
  2. Appraisal issues. Lenders are more cautious than ever regarding the validity of appraisals. While most buyers want to see an appraisal much higher than the contract sales price, some lenders see an abnormally high appraisal as a red flag and may ask for a second opinion, causing delays.
  3. Documentation variances. The loan officer may have sent a complete application, but at the last minute an underwriter may ask for additional documentation before issuing a "clear to close."  Sometimes these documents can take some time to produce, leading to delays in the delivery of the loan funds.
  4. Audits. Many lenders are performing audits on the day of closing, including verification of employment, verification of funds,  and may pull a new credit report. Explanations may be needed to complete the closing of the sale.
  5. Logistics. The fact is, that houses are taking longer to sell, and many sellers have already moved and there may be delays in getting everyone to perform in a timely matter. You would think that everyone would try to get on the same page to expedite completion of the sale but sometimes it's difficult to get everyone working together!
  6. Car fire on I-285 by Richard WeisserProperty issues. The longer that it takes to close, the more likely that the property will develop a problem that affects the buyer's desire to purchase. Air conditioners may stop working or someone might break into the house and steal fixtures and appliances. These issues can always cause serious delays.

The good news is this: The real estate agent works diligently to intercept all of these problems and spends hours or days "putting out fires" to move the transaction along to completion. The goal is to make the closing as seamless as possible for both the buyer and the seller.

It takes a lot of work to get the job done correctly, more than you can ever imagine. And despite all of the technology, the job is more difficult now than ever. And when your deal goes smoothly, take the time to pat your agent on the back.

They have done one heck of a job!

All content, including text, original art, photographs and images, is the exclusive property of Coweta Fayette Real Estate, Inc., and may not be used without the expressed written permission of ERA United Realty and Coweta Fayette Real Estate of ERA United Realty Newnan Georgia. All information is believed to be accurate but is not warranted, Copyright 2003-2009. Richard Weisser 770-827-6225.
Learn more about Coweta County and Fayette County Georgia Real Estate, and to search the entire Georgia MLS for free with no registration required visit CowetaFayetteRealEstate.com!

Get the latest GA Foreclosure List Updated Daily!

 

 

 

 

Hablamos español.

 

SRES DEswg w tag

As an SRES® designee, I have received additional education on such topics as tax laws, probate, estate planning, equity conversion strategies, and can offer you information on current market trends as well as valuable resources regarding real estate transactions.


Always remember that freedom is not free - a tribute to our servicemen and women

"...if you are traveling through an airport or a port this weekend or you just see a man or woman in uniform in a restaurant. Please go and shake their hand and thank them for their service. And while you're at it, pick up their tab too."

No one could have said it better, Simon.

Via Simon Conway (Picket Fence Realty):

iraq flag

So here we are on Memorial Day Weekend and we have service men and women in harms way once again.

These are special people. I would say they are wired differently to the rest of us, but the evidence just doesn't back that up. Take Flight 93 on nine eleven as a perfect example. Or the soldiers, sailors and airmen of World War II. It is in us all. We just need to find it.

The picture on the right is of my friend and national hero, Master Sergeant of Marines, William "Spanky" Gibson, who is the first ever member of any branch of our military who returned to a combat zone having had an above the knee amputation.

It is a picture of Spanky saluting a flag at Camp Fellujah in Iraq. He chose to honor me and that specific flag is hanging proudly on the wall of my home today.

Thank you Spanky. Not for the flag, but for what you have done for us all.

Last night I was talking to a client for about an hour. A huge part of that conversation was about her 87-year-old grandpa who served aboard the USS Arizona. He was on that ship the day the Japanese attacked Pearl Harbor. His brother is STILL aboard that ship as he perished there when the boat went down.

She told me that whenever they visit, her Grandpa walks onto the Memorial and Salutes and says to his brother: "I will always love you. I will never forget the sacrifice you made for all of our freedom." It gives me goosebumps just hearing about it. I believe that all Americans should visit the Arizona Memorial at least once in their lifetime. Until you have been there (I have twice), you simply cannot understand what I'm talking about. The picture below is of the USS Arizona sinking in 1941.

These people understand with every fiber of their being what defending freedom means. A freedom that so many of us take for granted. A freedom that simply wouldn't exist without the ultimate sacrifice these people make in our country's name. In our name.

Arizona sinkingThe following is an excerpt from "A Foxhole's View". Written by an ordinary soldier in the middle of World War Two.

The man who wrote it received

* 1 Silver Star
* 2 Bronze Stars
* offered Purple Heart, turned it down because he thought it was bad luck

The time: December, 1944 - a few days before The Battle of the Bulge. The place: The Hurtgen Forest

I had gone down about four houses when I saw, at the convergence of the "L", a German tank supported by a platoon of infantry. This was the counter-attack. We hadn't gotten any anti-tank guns into the town as yet. There were only two bazooka gunners with our attack...and where could they be?

Being caught out in the open all alone, I panicked. I tore through the back yard fences, trying to get to the others and warn them. If the tank reached the corner of the "L", we would be trapped.

But a heavy machine-gun squad had already set up and started firing. He was no match for the tank, but if he could scare or kill the supporting infantry, the tank would be more vulnerable.

It looked like a hopeless situation. The tank slammed an 88 into the **machine-gunner's legs, but in a super-human effort, he continued to fire at the tank and the infantry. The infantry finally retreated and the tank pulled off of the attack. The machine-gunner - Ralph Neppel -was later awarded the Congressional Medal of Honor.

As I ran along I passed an unmanned German tank. Had it been in action during our crossing of the field, it would have been devastating. I also noticed a row of craters, the largest I ever saw during the war. They must have come from our bombers. Although they had missed the houses, I thought how they must have rattled the windows! One of the houses would have easily fit into one of these huge craters.

About twenty minutes later the town had been captured and we had taken numerous prisoners. Company L, which had been in reserve, had taken almost as many casualties as we did because of tree-top bursts from the German artillery.

The rest of the day was spent in setting up mortars and defenses. That afternoon, one of our tanks was placed at the other end of town where the German tank had appeared earlier. A German tank somewhere off to the left spotted our tank as it parked. It opened fire and knocked out our tank before it could get off a shot.

That night, Johnson, from our platoon, lay on a table in the light of a flickering candle. He had taken a piece of shrapnel in the back. I had expected that to happen sooner or later because I had noticed his reflexes weren't too good. Johnson was doing a lot of moaning and groaning which indicated he was out of his head. We couldn't get him out or get a medic to him until morning. Lt. Benjamin lost patience with him and told him to shut up, but to no avail. That next evening we heard that Johnson had died. This made *Lt. Benjamin feel guilty for not knowing how badly Johnson was wounded. And a few days later, Lt Benjamin was killed in action.

We all know where we would be without our servicemen and women. I have a nephew who served in Afghanistan. We all know people who have fought for our freedom or are doing so right now. It is beyond my comprehension that with all the money currently being spent by the Administration, military spending cuts are the only serious cuts they are talking about. So on this weekend we must remember our service men and women. We must thank them and we must consciously know where we would be without them.

Every one of them gave something  -  some gave everything.

So do me a favor - if you are traveling through an airport or a port this weekend or you just see a man or woman in uniform in a restaurant. Please go and shake their hand and thank them for their service. And while you're at it, pick up their tab too.

________________________________________________________________________________________________________

(Copyright © 2009 By Simon L Conway All Rights Reserved.)

Simon Conway is the winner of the FIVE STAR Best in Client Satisfaction for Real Estate Agents in the Orlando area.

Please give me a call if you have questions about the Central Florida real estate market.  You can reach me on 407 876 8200.  Also visit my web site at www.simonconway.net or www.move2orlando.net

 

 

 

 

Hablamos español.

 

SRES DEswg w tag

As an SRES® designee, I have received additional education on such topics as tax laws, probate, estate planning, equity conversion strategies, and can offer you information on current market trends as well as valuable resources regarding real estate transactions.


San Antonio Children's Museum~PowerBall Hall

PowerBall Hall -Grand Opening

San Antonio Children's Museum
305 E. Houston Street
San Antonio, TX 78205
Phone: 210/212-4453

May 30, 2009
9:00 a.m. to 6:00 p.m.

PowerBALL Hall is an interactive ball exhibit that introduces children to simple principles of physics in a fun way.  The children move among the ball stations developing motor and tracking skills while remaining physically active.  The motto is:  Explore, Engage, Experience...PowerBALL Hall!

The San Antonio Children's Museum is not only a fun place for kids, it is a unique and innovative educational resource for them. The Museum provides engaging hands-on experiences where children and the adults in their lives learn through creative play.

For more information, click here:  San Antonio Children's Museum Website

 

 

 

 

Hablamos español.

 

SRES DEswg w tag

As an SRES® designee, I have received additional education on such topics as tax laws, probate, estate planning, equity conversion strategies, and can offer you information on current market trends as well as valuable resources regarding real estate transactions.


~This Weekend is Tax Free Weekend on Energy Efficient Purchases~

Texas homeowners looking to remodel or upgrade their home will get a big sales tax break on energy efficient purchases this Memorial weekend.  To qualify for the tax-free offer, which in San Antonio will save residents 8.125 percent in sales tax, purchases must be Energy Star-qualified.

You can purchase everything from air conditioning units to compact fluorescent light bulbs tax-free over Memorial Day weekend, May 23 through 25.

The statewide tax-free weekend, similar to one usually held for clothing purchases in late August, can save homeowners hundreds of dollars when major appliances such as refrigerators, washing machines and air conditioning units are purchased.

The Energy Star label was developed by the Environmental Protection Agency and appears on appliances that use less energy or water to operate than the industry standard.

According to the state comptroller's office, the tax-free weekend includes:

• Air conditioners priced under $6,000 (both room and central units)

• Washing machines

• Ceiling fans

• Dehumidifiers

• Dishwashers

• Light bulbs (incandescent and fluorescent)

• Programmable thermostats

• Refrigerators priced under $2,000.

Washing machines are on the list but dryers are not because Energy Star doesn't certify dryers. But people who purchase combination washer and dryer units will qualify for the exemption as long as the appliance is classified as a clothes washer by Energy Star. Find out at  www.EnergyStar.gov.

Another great thing is that San Antonio Water System customers who purchase the highest efficiency washing machines (Tier 3) can qualify for a $100 rebate on their water bill. The Tier 3 machines reduce energy use up to 70 percent and water use up to half.

There is no limit on how many Energy Star items someone can purchase so landlords, home builders, developers, dealers, service providers and contractors can purchase appliances tax free even if they are held in inventory.

 

 

 

 

 

Hablamos español.

 

SRES DEswg w tag

As an SRES® designee, I have received additional education on such topics as tax laws, probate, estate planning, equity conversion strategies, and can offer you information on current market trends as well as valuable resources regarding real estate transactions.


~Get a Free Flag at KB Home This Memorial Weekend!~

Are you staying in town this week-end?  This long week-end is a good opportunity to visit a new KB Home neighborhood, tour their gorgeous model homes, and get a free flag in the process!  This Memorial Day week-end KB Home is giving away free American flags and poles.  Only one per household will be given away starting today and lasting through the three day week-end at all KB Home sales centers.  The hours are from 10:00 a.m. until 7 p.m.  So come out to any of the KB neighborhoods listed below, meet with one of the friendly and helpful KB reps, and get your free flag!

 

KB Neighborhoods

 

 

Boerne

Trails at Herff Ranch - Empire

 

Boerne

Trails at Herff Ranch Independence

 

Boerne

Trails at Herff Ranch Wildflower

 

Cibolo

Spring Tree

 

Live Oak

Auburn Hills at Woodcrest

 

San Antonio

Cobblestone

 

San Antonio

Enclave at Lakeside

 

San Antonio

Fox Grove

 

San Antonio

Mesa Creek

 

San Antonio

Quarry at Iron Mountain

 

San Antonio

Saddle Mountain

 

San Antonio

Stage Run - Hallmark Collection

 

San Antonio

Sundance Trails and Sundance Ridge

 

San Antonio

The Meadows at Bridgewood

 

San Antonio

Woods of Alon

 

Schertz

The Links at Scenic Hills

 

 

 

 

Hablamos español.

 

SRES DEswg w tag

As an SRES® designee, I have received additional education on such topics as tax laws, probate, estate planning, equity conversion strategies, and can offer you information on current market trends as well as valuable resources regarding real estate transactions.