As an EcoBroker Certified real estate professional, I have received special training on issues pertaining to energy efficiency and other environmental aspects of homes. I can help buyers understand the cost savings and potential for increased comfort of living in a home with energy efficient upgrades on features such as windows, insulation, heating/cooling systems, and appliances. There is also a health component to upgrading a home and I have knowledge of indoor air quality improvements related to proper ventilation, use of low-VOC paints and adhesives, and other environmentally-friendly building materials. For sellers, the advantage of working with an EcoBroker is an understanding of the key improvements that can be made to a home in order to increase the property's value and make it more attractive to potential buyers. Buyers are interested in the cost-savings inherent to energy efficient upgrades.
I encourage you to explore the EcoBroker web site (http://www.ecobroker.com/misc/learn.aspx) for information on different 'green' topics relating to home ownership. There are many ways to enhance a home's market value and 'green' quotient at the same time.
Thursday, May 28, 2009
Wednesday, May 27, 2009
5.27.09 Real Estate a Good Investment
According to a recent Gallup poll (http://www.gallup.com/poll/118300/Savings-Accounts-Real-Estate-Seen-Best-Investments.aspx?CSTS=alert), investing in real estate and keeping money in savings accounts are currently seen as the top two best long-term investments by Americans. Confidence in the real estate market is returning and many believe that now is a great time to buy.
Locally, there are great deals to be found due to the huge inventory of homes for sale. Now is a terrific time to be looking for an investment property. Prices are down, rents are good, interest rates are good, and money is being freed up by banks again so that the loan/financing aspect of deals can get done without a hassle.
Locally, there are great deals to be found due to the huge inventory of homes for sale. Now is a terrific time to be looking for an investment property. Prices are down, rents are good, interest rates are good, and money is being freed up by banks again so that the loan/financing aspect of deals can get done without a hassle.
Sunday, May 24, 2009
5.24.09 2009 Economic Stimulus Plan
Here is some information I have received regarding the areas of the stimulus plan created by President Obama that directly affect potential home buyers and home owners:
There are four sections of the 2009 economic stimulus plan that could be beneficial to homebuyers and home owners:
1) The Home Improvement Tax Credit
The tax credit for making energy efficient home improvements is now 30% of the cost of the improvements, with a maximum of $1,500. Energy efficient exterior doors and windows, insulation, heat pumps, furnaces, central air conditioners and water heaters are some eligible items. The contractor and/or manufacturer can give certification that energy efficiency standards are being met.
2) The First-time Home Buyer Tax Credit
The tax credit available to first time home buyers has increased to $8,000 for homes purchased between January 1, 2009, and December 1, 2009. This credit no longer needs to be paid back as long as you live in the home without selling it for at least 3 years.
The income limitations remain the same ($75,000 for single tax payers claiming the full credit and $150,000 for married tax payers). Also, the credit remains refundable. This means that first-time home buyers who owe less than $8,000 in taxes for the year are still eligible for the full $8,000 credit when they file their tax returns.
3) Higher Reverse Mortgage Loan Limits
The loan limits for FHA-insured reverse mortgages have been increased to $625,500 across the entire country. This coincides with another little-known change in the reverse mortgage arena: the availability of reverse mortgages on home purchase transactions. This is a fantastic opportunity for senior citizens to buy a new home and live mortgage payment-free without having to wait for their old home to sell. Seniors could also use this strategy to buy a new home and turn the old home into a rental or otherwise wait for market conditions to improve before trying to sell the old home.
4) $729,750 FHA and Conforming Loan Limits Restored in High Cost Areas
This makes higher cost homes more affordable in housing markets that have higher than average home values.
There are four sections of the 2009 economic stimulus plan that could be beneficial to homebuyers and home owners:
1) The Home Improvement Tax Credit
The tax credit for making energy efficient home improvements is now 30% of the cost of the improvements, with a maximum of $1,500. Energy efficient exterior doors and windows, insulation, heat pumps, furnaces, central air conditioners and water heaters are some eligible items. The contractor and/or manufacturer can give certification that energy efficiency standards are being met.
2) The First-time Home Buyer Tax Credit
The tax credit available to first time home buyers has increased to $8,000 for homes purchased between January 1, 2009, and December 1, 2009. This credit no longer needs to be paid back as long as you live in the home without selling it for at least 3 years.
The income limitations remain the same ($75,000 for single tax payers claiming the full credit and $150,000 for married tax payers). Also, the credit remains refundable. This means that first-time home buyers who owe less than $8,000 in taxes for the year are still eligible for the full $8,000 credit when they file their tax returns.
3) Higher Reverse Mortgage Loan Limits
The loan limits for FHA-insured reverse mortgages have been increased to $625,500 across the entire country. This coincides with another little-known change in the reverse mortgage arena: the availability of reverse mortgages on home purchase transactions. This is a fantastic opportunity for senior citizens to buy a new home and live mortgage payment-free without having to wait for their old home to sell. Seniors could also use this strategy to buy a new home and turn the old home into a rental or otherwise wait for market conditions to improve before trying to sell the old home.
4) $729,750 FHA and Conforming Loan Limits Restored in High Cost Areas
This makes higher cost homes more affordable in housing markets that have higher than average home values.
Saturday, May 23, 2009
5.23.09 Saratoga Market Update
Tse Group publishes a newsletter full of housing statistics and analysis which I distribute when I doorknock in Saratoga. We of course have access to the data for all of the Bay Area and can provide information on market trends in all of the different localities. The May 2009 Tse Group Saratoga Newsletter demonstrates that between March '09 and April '09, the inventory of houses remained virtually the same as well as the number of closed sales. However, from March to April there was an increase in median price as well as the percentage of the list price received, which is a positive trend to watch as we head toward the strong Summer months.
Comparing April of this year to April '08, there is a marked increase in inventory as well as average days on the market for home sales. This of course has created a very strong buyer's market currently. Potential buyers have a multitude of homes to choose from, and are able to negotiate down from the list price when making an offer. For anyone looking to relocate to Saratoga (or just about anywhere in the area), now is a fantastic time to find a great deal. Median home prices in Santa Clara and San Mateo Counties are down approximately 30% from one year ago. Things seem to have bottomed out in January '09 and have since leveled off. This is a great time to act! Call or email for more information on the statistics if you do not already have your own hard copy of the Tse Group Newsletter.
(atse@interorealestate.com, (408)807-8808)
Comparing April of this year to April '08, there is a marked increase in inventory as well as average days on the market for home sales. This of course has created a very strong buyer's market currently. Potential buyers have a multitude of homes to choose from, and are able to negotiate down from the list price when making an offer. For anyone looking to relocate to Saratoga (or just about anywhere in the area), now is a fantastic time to find a great deal. Median home prices in Santa Clara and San Mateo Counties are down approximately 30% from one year ago. Things seem to have bottomed out in January '09 and have since leveled off. This is a great time to act! Call or email for more information on the statistics if you do not already have your own hard copy of the Tse Group Newsletter.
(atse@interorealestate.com, (408)807-8808)
Friday, May 22, 2009
5.22.09 Best Local Japanese Cuisine
I ate with my family at one of our favorite spots last night. Kitsho in Cupertino is one of our favorite Japanese restaurants. (Kitsho, 19541 Richwood Drive, Cupertino, CA 95014, (408) 873-1444, Closed on Sundays) Another great Japanese spot in the South Bay is Tanto. This is really one of the most authentic Japanese places to dine. (Tanto, 1306 Saratoga Avenue, San Jose, CA 95129, (408) 249-6020, Cash Only, Closed on Mondays) Lastly, if you are a fan of ramen, a great lunch spot for a hot bowl of noodles is Ramen Halu. (Ramen Halu, 375 Saratoga Avenue, #M, San Jose, CA 95129, (408) 295-4510, Cash Only) Happy eating!
Thursday, May 21, 2009
5.21.09 Welcome
Welcome to the Tse Group Real Estate Blog.
We will be providing information regarding the residential real estate market in the Bay Area. In addition, general information on various housing issues, interesting news and happenings in the Bay Area, and some of our own local favorites will make their way into the blog.
Please enjoy.
Andy Tse
We will be providing information regarding the residential real estate market in the Bay Area. In addition, general information on various housing issues, interesting news and happenings in the Bay Area, and some of our own local favorites will make their way into the blog.
Please enjoy.
Andy Tse
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