HELP YOURSELF OR SOMEONE THAT YOU KNOW!
Before You Give Up Your Home, Know the Facts because.... You Have Options! You Can Save Your Home or At Least Protect Yourself.
What happens when you imagine receiving a 1099 form from the IRS after a foreclosure or short sale showing the taxes you owe. Despite the new law, in some cases, you will still receive an IRS Form 1099 and incur substantial tax liability!!!
Will you still have substantial dept even without your home? If so, neither the foreclosure nor short sale really helps you!
Could you keep your home if you did not have to pay the second mortgage or HELOC? If the value of your home is lower than what is owned on the first mortgage, we can strip the second mortgage (or HELOC), and you will not have to pay it.
Does a foreclosure or short sale affect your credit as much as a bankruptcy? In more cases, it is worse than a bankruptcy and takes longer to recover.
Talking to a good bankruptcy attorney does not mean you have to file bankruptcy. While it may be the best solution, it is not the only one.
I know how you feel, and others have felt the same, and then they found that speaking with a trained professional to understand exactly what their liability was and what they should do about was their best option.
Protect yourself! If you are struggling in making your mortgage payment or jeopardizing in losing your home and have to consider a short sale or foreclosure, I will recommend an attorney that has helped many homeowner, realtors, and believe it or not...mortgage brokers that are in the same position as you.
Call me for details or just email me at: l.pillard@gmail.com and I will gladly help you get connected with the Team that has helped so many homeowners like yourself
Sunday, August 17, 2008
Sunday, July 20, 2008
Can't Make Your Mortgage Payment? Watch Out For The IRS!!
Before You Give Up Your Home, Know the Facts because.... You Have Options! You Can Save Your Home or At Least Protect Yourself.
What happens when you imagine receiving a 1099 form from the IRS after a foreclosure or short sale showing the taxes you owe. Despite the new law, in some cases, you will still receive an IRS Form 1099 and incur substantial tax liability!!!
Will you still have substantial dept even without your home? If so, neither the foreclosure nor short sale really helps you!
Could you keep your home if you did not have to pay the second mortgage or HELOC? If the value of your home is lower than what is owned on the first mortgage, we can strip the second mortgage (or HELOC), and you will not have to pay it.
Does a foreclosure or short sale affect your credit as much as a bankruptcy? In more cases, it is worse than a bankruptcy and takes longer to recover.
Talking to a good bankruptcy attorney does not mean you have to file bankruptcy. While it may be the best solution, it is not the only one.
I know how you feel, and others have felt the same, and then they found that speaking with a trained professional to understand exactly what their liability was and what they should do about was their best option.
Protect yourself! If you are struggling in making your mortgage payment or jeopardizing in losing your home and have to consider a short sale or foreclosure, I will recommend an attorney that has helped many homeowner, realtors, and believe it or not...mortgage brokers that are in the same position as you.
Call me for details or complete the form below, and I will gladly help you get connected with the Team that has helped so many homeowners like yourself.
What happens when you imagine receiving a 1099 form from the IRS after a foreclosure or short sale showing the taxes you owe. Despite the new law, in some cases, you will still receive an IRS Form 1099 and incur substantial tax liability!!!
Will you still have substantial dept even without your home? If so, neither the foreclosure nor short sale really helps you!
Could you keep your home if you did not have to pay the second mortgage or HELOC? If the value of your home is lower than what is owned on the first mortgage, we can strip the second mortgage (or HELOC), and you will not have to pay it.
Does a foreclosure or short sale affect your credit as much as a bankruptcy? In more cases, it is worse than a bankruptcy and takes longer to recover.
Talking to a good bankruptcy attorney does not mean you have to file bankruptcy. While it may be the best solution, it is not the only one.
I know how you feel, and others have felt the same, and then they found that speaking with a trained professional to understand exactly what their liability was and what they should do about was their best option.
Protect yourself! If you are struggling in making your mortgage payment or jeopardizing in losing your home and have to consider a short sale or foreclosure, I will recommend an attorney that has helped many homeowner, realtors, and believe it or not...mortgage brokers that are in the same position as you.
Call me for details or complete the form below, and I will gladly help you get connected with the Team that has helped so many homeowners like yourself.
Thursday, June 19, 2008
Thursday, May 08, 2008
Tuesday, May 06, 2008
Property Taxes - You may be paying to much!
DON'T OVERPAY... FILE A PROPERTY TAX APPEAL
Property taxes seem to jump up year after year. Unfortunately, we've become so accustomed to rising taxes that it's no longer a surprise. But here's something that may surprise you. Did you know that over the last eight years, property taxes have actually outpaced even inflation? Those rising taxes - combined with the recent plateau in home values in some areas - mean you may be paying more than your fair share.
In fact, the National Taxpayers Union estimated that as many as 60% of home values were assessed too high, resulting in an incorrectly larger property tax bill.
Based on recent market activity and the rising property taxes across the country, there's a chance you may be in the group of people paying too much. In fact, homeowners in declining markets are receiving solicitations from companies that charge up to $250 to help lower property taxes. But with the steps below, you can work with your local County Assessor to lower property taxes for free...and save yourself the $250!
The good news: it's easy.
First, contact your local tax assessor's office and ask for someone in the reassessment area. Find out when appeals are heard, and how the process for submitting a property tax appeal works.
Additionally, ask for a copy of your property card. Review the card and confirm that the basic information about your property is correct. For example, is the square footage and number of rooms for your home accurate? If the number is incorrect, the county may change the assessment without a formal appeal. If everything on the property card is correct but the assessed value still seems too high, your next step is to gather the following documentation to support an appeal. And don't be surprised if the assessed value is lower than what you think the market value for your home is--many counties use a formula which uses a percentage of market value to determine assessed value. Ask what the formula is... because an assessment that is less than market value still might be too high.
If you have a current appraisal that supports the value being lower using recent market-value information, many counties will accept a copy of the appraisal with the appeal. If the appraisal is outdated, you can order a new one--just call me for a referral to a great appraiser. You can also visit the local assessor's office or search online, and look through the public records for other homes that have similar features to yours, but have lower assessments. They will be able to give you current market information for your neighborhood, and help you see how your market value and assessed value stacks up against your neighbors.
Submitting an appeal is generally a fairly simple process, but make sure to take the time to fill out all forms in advance and be prepared with your documentation if there is an in-person hearing that needs to take place.
More good news...
According to the National Taxpayers Union, about 33% of property tax appeals succeed! Taking the time to review the accuracy of a tax bill could easily save you hundreds of dollars per year, adding up to thousands of dollars during the time you own your home. Please feel free to contact me for more information on this money-saving tip.
Property taxes seem to jump up year after year. Unfortunately, we've become so accustomed to rising taxes that it's no longer a surprise. But here's something that may surprise you. Did you know that over the last eight years, property taxes have actually outpaced even inflation? Those rising taxes - combined with the recent plateau in home values in some areas - mean you may be paying more than your fair share.
In fact, the National Taxpayers Union estimated that as many as 60% of home values were assessed too high, resulting in an incorrectly larger property tax bill.
Based on recent market activity and the rising property taxes across the country, there's a chance you may be in the group of people paying too much. In fact, homeowners in declining markets are receiving solicitations from companies that charge up to $250 to help lower property taxes. But with the steps below, you can work with your local County Assessor to lower property taxes for free...and save yourself the $250!
The good news: it's easy.
First, contact your local tax assessor's office and ask for someone in the reassessment area. Find out when appeals are heard, and how the process for submitting a property tax appeal works.
Additionally, ask for a copy of your property card. Review the card and confirm that the basic information about your property is correct. For example, is the square footage and number of rooms for your home accurate? If the number is incorrect, the county may change the assessment without a formal appeal. If everything on the property card is correct but the assessed value still seems too high, your next step is to gather the following documentation to support an appeal. And don't be surprised if the assessed value is lower than what you think the market value for your home is--many counties use a formula which uses a percentage of market value to determine assessed value. Ask what the formula is... because an assessment that is less than market value still might be too high.
If you have a current appraisal that supports the value being lower using recent market-value information, many counties will accept a copy of the appraisal with the appeal. If the appraisal is outdated, you can order a new one--just call me for a referral to a great appraiser. You can also visit the local assessor's office or search online, and look through the public records for other homes that have similar features to yours, but have lower assessments. They will be able to give you current market information for your neighborhood, and help you see how your market value and assessed value stacks up against your neighbors.
Submitting an appeal is generally a fairly simple process, but make sure to take the time to fill out all forms in advance and be prepared with your documentation if there is an in-person hearing that needs to take place.
More good news...
According to the National Taxpayers Union, about 33% of property tax appeals succeed! Taking the time to review the accuracy of a tax bill could easily save you hundreds of dollars per year, adding up to thousands of dollars during the time you own your home. Please feel free to contact me for more information on this money-saving tip.
Sunday, April 06, 2008
What is a short sale???
A Short Sale is when the home is sold for less than what is owed on it due to market conditions, distress refinancing, or unfortunate circumstances of the seller. The Seller's real estate consultant will list the home for sale in alignment with current market conditions. Right now many homeowners owe more than their home is worth much due to the refinancing frenzy. Upon receiving an offer, negotiations are completed between the seller and buyer, at that time the offer is presented to the bank. The banks process is lengthly and unpredictable. It could take 1-2 months before the seller receives an approval or counter offer from the bank. A short sale will preserve your credit at a higher rating than a foreclosure. Also check into completing a bankrupcty in instead of a short sale. It may be a better solution. Check with your tax attorney and/or tax advisor then decide what option is best for you! If you have any questions don't hesitate to contact us. We are here to help you!
Friday, April 04, 2008
Bank Owned Properties - Deal or NO Deal?
Foreclosure filings in February are up 60 percent from a year ago. Did you know that Miami Dolphins quarterback Dan Marino also attempted to auction off his Florida home last month, and the there is Michael Jackson's with his Neverland Ranch that is in default and scheduled for auction this May.
Good news is that the Senate came to a tentative deal on Wednesday to help homeowners facing foreclosure and buyers who are buying foreclosures. In whats thought to be the biggest gift in U.S. history, the Senate has agreed to give a $7,000 tax credit to any person who buys a foreclosed home.
Auctions can be a quick way to come out with a great deal, but they can also drain your wallet, if you're not prepared. For Tips to think about before you make an offer or go to an auction, please contact me for the details that will help you make a Deal...or no deal.
Thursday, March 13, 2008
What sells a house in today's market?
This is a question that has been asked by some of my wonderful and devoted clients. So here is your answer as promised.
There are a couple of factors we must address first. One of them is a newspaper ad, home publications, & open houses they do NOT sell homes. As for all those "open houses" and "ads" you want your realtor to run - or else you feel like they aren't doing anything? Those rarely sell your house. Sellers just "think" they do. That is part of why most FSBO's do not successfully sell their homes on their own. They begin with a false impression of what makes a good listing agent effective.
Even when we had a housing frenzy the abovementioned tactics did not sell a home. It did however accomplish 2 things. It brought new clients to the realtors business and it made the seller believe their realtor was doing something for them. The stats have shown time and time again what makes a home sell is a factor of 3 things. How much is the asking price? Price your property well for maximum market interest. If the price is to high in the beginning during the preview timeframe rest assured your probability of receiving any offer is low to none. You may say…I will price it high and then negotiate after we receive an offer. The fact is that you will not have any potential buyer look at your home and therefore, will not receive an offer to negotiate. It is crucial that your home is priced at market value or slightly below from the very beginning. The second factor is your location. Location is very important to a homebuyer. If you are located in a rural town, near a highway, near a property that is NOT maintained or an area that is not desirable it may be more difficult to target a buyer for that home. The next factor is condition. What is the condition of the home? Does it need work? How much work? Is it landscaped? You see these 3 factors are the top factors buyers look at. If it meets their criteria, priced right to reflect current market condition, nice location, and good condition you will have a much higher probability of a successful sale.
Remember, ads do not sell homes… People do! Realtors with buyers. So it is important that your realtor targets the top agents in the area and let them know about your home. If it meets all of the criteria above these realtors will bring their buyers!!!
There are a couple of factors we must address first. One of them is a newspaper ad, home publications, & open houses they do NOT sell homes. As for all those "open houses" and "ads" you want your realtor to run - or else you feel like they aren't doing anything? Those rarely sell your house. Sellers just "think" they do. That is part of why most FSBO's do not successfully sell their homes on their own. They begin with a false impression of what makes a good listing agent effective.
Even when we had a housing frenzy the abovementioned tactics did not sell a home. It did however accomplish 2 things. It brought new clients to the realtors business and it made the seller believe their realtor was doing something for them. The stats have shown time and time again what makes a home sell is a factor of 3 things. How much is the asking price? Price your property well for maximum market interest. If the price is to high in the beginning during the preview timeframe rest assured your probability of receiving any offer is low to none. You may say…I will price it high and then negotiate after we receive an offer. The fact is that you will not have any potential buyer look at your home and therefore, will not receive an offer to negotiate. It is crucial that your home is priced at market value or slightly below from the very beginning. The second factor is your location. Location is very important to a homebuyer. If you are located in a rural town, near a highway, near a property that is NOT maintained or an area that is not desirable it may be more difficult to target a buyer for that home. The next factor is condition. What is the condition of the home? Does it need work? How much work? Is it landscaped? You see these 3 factors are the top factors buyers look at. If it meets their criteria, priced right to reflect current market condition, nice location, and good condition you will have a much higher probability of a successful sale.
Remember, ads do not sell homes… People do! Realtors with buyers. So it is important that your realtor targets the top agents in the area and let them know about your home. If it meets all of the criteria above these realtors will bring their buyers!!!
Sunday, February 17, 2008
12200 Park Place - Capay Valley - 5 Parcels
Park Place
12200 Park Place, Brooks, CA 95606 View Map
Welcome to the Townsite of Tancred. Located in the beautiful & desirable Capay Valley. Features a ranch style home built between 1897 & 1904, includes pellet stove with triple wall chimney, Wilsonart flooring in kitchen, spacious family room with wood flooring & pellet stove, roof installed in 1989 per seller, a pole barn set-up for livestock, barn, shed-row 12 ft. covered 12 ft open, irrigated pasture, domestic well & agricultural well, and wonderful views of the oak studded foothill that are sprinkled with pines. This property is located near Cache Creek Casino and just adjacent from the Rumsey Rancheria Reservation. Property is comprised of 5 deeded parcels. However, per Surveyor there may be individual lots that are recognized as valid. Check with County.
For Detailed Information call the Toll Free Helpline at:
1-800-882-0235 ext. 3146
Details
Asking Price:
1,500,000
MLS:
80014210
Sq. Feet:
1800
Bedrooms:
4
Bathrooms:
1
Subdivision:
Townsite of Tancred
Year Built:
1904
Saturday, February 16, 2008
Homebuyers Insider
GREAT NEWS HOMEBUYERS! The other day, President Bush signed the economic stimulus package. What does this mean to you besides receiving rebate checks? (If you file your 2007 taxes) Currently if you apply for a loan that is over $417,000 (a jumbo loan) the cost is 1-2% higher than if you apply for a loan under $417,000 (a conforming loan). The stimulus package increases the loan limits of a conforming loan to the area median price to a max of approximately $730,000, helping to keep the monthly payments down for buyers who need to borrow larger amounts. Keep in mind that this will only be for the rest of 2007.
I checked with a couple of my lenders today, and they told me that it could easily be a month or two before they have these changes figured out and implemented.
Another interesting, yet partially unrelated observation, is that in spite of the unprecedented aggressive Fed rate cuts made recently, borrower costs are actually increasing as mortgage rates slowly continue to creep up. This further illustrates the point that mortgage interest rates are not controlled by the Fed's market manipulation, and that rates are market driven. A very reliable way to keep an eye on 30 year fixed mortgage rate trends is to watch the 10-year bond yield. When the yield is going up, so are mortgage rates and vice-versa.
WHERE DO I START?
"What is the first thing I should do to get started in this house buying process?" a first time homebuyer asked me last week. "Good question", I said. "If you start looking before you know what you qualify for, odds are you will fall in love with a home that is out of your price range and you will compare everything to that home and nothing will look as good to you". She said that made sense, however, she had a concern about getting a loan because she did not know whom to trust. "You need to get a referral from someone you know and trust, if you cannot find one I would be happy to give you some references”, I told her. I then realized how difficult it must be for especially the first time homebuyer to trust someone with his or her financial information and with finding a loan that was not loaded with hidden costs. Therefore, next week, I will interview some of the informative loan agents I work with and ask them to give me the inside scoop into the loan industry, I will also find out for you what are the biggest rip-offs that you need to look out for.
I checked with a couple of my lenders today, and they told me that it could easily be a month or two before they have these changes figured out and implemented.
Another interesting, yet partially unrelated observation, is that in spite of the unprecedented aggressive Fed rate cuts made recently, borrower costs are actually increasing as mortgage rates slowly continue to creep up. This further illustrates the point that mortgage interest rates are not controlled by the Fed's market manipulation, and that rates are market driven. A very reliable way to keep an eye on 30 year fixed mortgage rate trends is to watch the 10-year bond yield. When the yield is going up, so are mortgage rates and vice-versa.
WHERE DO I START?
"What is the first thing I should do to get started in this house buying process?" a first time homebuyer asked me last week. "Good question", I said. "If you start looking before you know what you qualify for, odds are you will fall in love with a home that is out of your price range and you will compare everything to that home and nothing will look as good to you". She said that made sense, however, she had a concern about getting a loan because she did not know whom to trust. "You need to get a referral from someone you know and trust, if you cannot find one I would be happy to give you some references”, I told her. I then realized how difficult it must be for especially the first time homebuyer to trust someone with his or her financial information and with finding a loan that was not loaded with hidden costs. Therefore, next week, I will interview some of the informative loan agents I work with and ask them to give me the inside scoop into the loan industry, I will also find out for you what are the biggest rip-offs that you need to look out for.
Wednesday, January 09, 2008
Unrealistic Sellers
Recently I received a phone call to go to a horse ranch and let them know what the value was. This family wanted to relocate but they were not realistic about the price they wanted. After final review and recent comps I could not come up with the value they were hoping to get. The property had a lot of issues, the house was not completed, the outbuildings were not the best condition and just needed alot of work. Beautiful landscaping though. However, the landscaping did not justify the sellers asking price. So the seller decided to complete some projects at the house. Meanwhile, market conditions have deteriorated in our area. Today I find they listed with another agent. Why is it that when sellers don't hear the number they want they decide to go else where. You would think that sellers would want a real estate consultant that specializes in thier area, specializes in ranch properties, years of experience, and want someone to protect the biggest investment in their lives, negotiate like a pitbull...that alone is worth every penny I earn. So with all that said...Hire a real estate consultant that is an expert in your area. You can put any price on a property even if you consultant does not agree with you (be careful though it really can hurt you). Hire your consultant based on knowledge, experience, education, and integrity. Check out my website at: www.lindapillardhomes.com.
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