America isn't building enough homes for first-time buyers

Unlike the pre-recession housing crisis that contended with too much supply and bad financing, the current "crisis" is centered around financing conditions that are extremely tight with inventories that are dwindling.
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Are you a fan of this beautiful pool home??

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Starter home dearth: Why existing home sales are plunging

A dearth of starter and mid-priced homes may be to blame for the housing market's current impasse, according to a Trulia study released Monday. Existing home sales dipped 7.1 percent in February, according to the National Association of Realtors.
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Look for Code Violations Before You Sell

Code violations can extend the Home Selling process – even halt it altogether. It’s a solid investment to hire a home Inspector before placing your home on the market.

A quality home Inspector knows local codes – from electrical, plumbing, building, structure, and more. They can help home Sellers understand any code violations and the steps and costs necessary to become compliant. When the city records a violation, a fee is assigned to the property. Because violations don’t appear as a lien on a title search, it can be difficult to determine whether a sanction has been assessed that will delay closing.

Violations can include the presence of garbage in a yard, maintenance issues, overgrown lawns, non-sanctioned improvements, safety issues, or other dangerous items needing repair. This article addresses some of the most common inspection problems.

Bedrooms – All rooms listed as bedrooms must have an operating window with 30 square inches of clearance for use as a fire escape. Bedrooms also must have heat. If a home is listed with three bedrooms, and one does not meet both these requirements, it cannot legally be called a bedroom.

Furnaces and Compressors – Rust in the heat exchange is a common problem that shows up on inspections. So is missing insulation required by code at the time the house was built, or, at the time improvements or replacements were installed.

Electrical – Common violations include junctions not enclosed in a junction box, a lack of ground fault circuit interrupter (GFCI) outlets in bathrooms and kitchens, or reverse-polarity on outlets.. Life-Saving Equipment – Smoke and carbon dioxide detectors are required by law in most States. Not having them, or not having the proper kind, is considered a code violation.

Plumbing – Violations can include everything from dripping faucets, to loose toilets, to improper drainage.

Structural Damage– Common code violations include rotting wood trim around windows and doors, rotten or delaminating siding and missing flashing on roofs or above windows and doors.

Extra Rooms – Some Home owners renovate basements or add sunrooms without permits. Be sure your improvements and additions are backed by the proper permits and resulting inspections.

Don’t hurt your sale because of code violations that can easily be fixed. Get an inspector, make the changes, and enjoy the comfort your efforts bring when your Closing comes to fruition!!

Tax Considerations for Home Buyers and Sellers

Home Buyers and Sellers need to stay informed about tax considerations before entering into a Real Estate transaction. If you’ve purchased or sold a home last year, there are a number of tax deductions for which you may qualify. This article contains some important factors to keep in mind.

Profitability – According to the IRS, if you have a gain from the sale of your main home, you may be able to exclude up to $250,000 of the gain from your income as a single tax filer, or $500,000 on a joint return in most cases.

Interest – Currently, much of the interest paid on a mortgage is tax-deductible. A married couple filing jointly can deduct all of their interest on a maximum of $1 million in mortgage debt secure by a first or second home.

Selling Costs – Broker commissions, title insurance, legal fees, advertising costs, administrative costs, and inspection fees are all considered “Selling Costs, and currently may be used to reduce one’s taxable capital gain by that amount.

Refinanced Mortgage Points – These may be deductible, but not all at once. Homeowners who refinance may be able to immediately write off the balance of the old points and begin to amortize the new points. Interest paid on a home equity loan, or similar line of credit, may also be deducted.

Points and Origination Fees – On a Home loan, if points or origination fees are paid during the Home purchase, they are generally tax-deductible for the year in which they were paid.

Repairs and Remodels – Qualifying capital improvements may be able to be deducted, including costs of a new roof, fence, swimming pool, garage, porch, built-in appliances, insulation, heating or cooling systems, and landscaping.

Relocation Expenses – If you move because of a new job, you may be able to deduct some of your moving costs. To qualify for these deductions, you must meet several IRS requirements, including that your new job is at least 50 miles farther from your old home than your previous job.
Moving-cost deductions can include travel or transportation costs, lodging expenses, and fees for storing your household goods.

Property Taxes – These taxes are currently deductible from your income. If you have an Impound or Escrow account, you can’t deduct the money held for property taxes until the money is actually used to pay your property taxes. City or State Property Tax Refunds reduce your federal deduction by an equal amount.

First-Time Buyer Credit – For those Buyers who took advantage of this credit within the past two years, remember that if within 36 months of the date of purchase, the property is no longer used as your principal residence, you are required to repay the credit. Another important tip for those moving into a new hoe is to make sure you update your address with the IRS and the U.S. Postal Service to ensure you receive refunds or correspondence from the IRS.

Home Tax Base – If you’ve thought of moving, but have lived in your current home for a long time and don’t want to lose your current tax base, remember to check if you qualify for Prop 60/90. If you’re unfamiliar with those laws, please contact me and I’ll be happy to explain them.

Tax laws change every year, and certain deductions become available while others phase out. Talk to a professional tax consultant about these and other considerations.

Wow, look at this beautiful outdoor living space! What do you think? Would you love to have this in your backyard??

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Take a look at these amazing homes that just hit the market

EXCLUSIVE LIST of Golf Community Homes for sale in INGLEWOOD CALIFORNIA
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10 Things You Absolutely Need To Know About Buying A Home

Ready to buy a home? Buying a home is one of the most significant financial decisions you’ll make in your lifetime. From figuring out pricing to why you should consider a realtor, here are 10 Things You Absolutely Need To Know About Buying A Home:
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What is your favorite element of this master bedroom? Do you like the all white look, or do you prefer more pops of color in your decor?

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Your new neighbor in the 'burbs? A millennial. Yes, really

It was only a matter of time. Literally. As millennials grow older, get married, have children, they are seeking out bigger houses and better schools. That means the suburbs. They are also getting tired of paying higher urban rents and watching those rents rise.
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Check out this modern bedroom, complete with circular entryways! What do you think?

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Single Family Housing Starts at Highest Levels Since 2007 in U.S.

According to the U.S. Department of Housing and Urban Development and the Commerce Department, nationwide housing starts rose 5.2 percent to a seasonally adjusted annual rate of 1.178 million units in February 2016. Single-family production increased 7.2 percent to 822,000 units--its highest level since November 2007--while multifamily starts remained virtually unchanged, inching up 0.8 percent to 356,000 units.
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Take the GUESS MY HOME VALUE Challenge and Win Big!

Take the GUESS MY HOME VALUE Challenge and Win Big!
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Stagers combine design sense with diplomacy to help sell houses

Professional stagers, many of whom are certified and accredited, are trained to make furnishing and decorating decisions that will show houses off to their best advantage for prospective buyers.
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Would you love to live cliffside in this beautiful home?

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Millennials in the Burbs? You Won’t Believe the Latest Home-Buying Trends

What’s a millennial pushing 30 to do? Apparently, leave the fun, the fantasy, the pace, and the possibilities of big-city living far behind and buy a home … out in the burbs.
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Very rustic chic decor in this bar & living room! Is this your style??

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Which Region Is Poised to See the Most Home Sales?

Home buyer dreams deferred: Aspiring owners put the brakes (mildly, at least) on the torrid pace of buying in January, according to the latest report on pending home sales. But one area in the U.S. still seems to be going stronger than ever: the South.
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Do you like or dislike the look of vines on a house? Would you love to live here?

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3 Bedrooms Homes in Inglewood California

EXCLUSIVE LIST of 3 Bedroom Homes in INGLEWOOD CALIFORNIA
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Here’s How Much Salary You Need to Buy an Average US House

While home prices are rising around the country, potential home buyers can take some solace in interest rates, which continue to defy expectations that they’re going to increase.
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Do you like this elegant dining room? Or would you prefer a different decor?

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Investors Are Flipping Houses Again

It was one of the most notorious practices of the financial crisis: Speculators snapping up homes, waiting a few months, and selling them at a quick profit.
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Wow, would you love to come home to this awesome ocean side house?

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Get a FREE, no obligation, instant, Home Valuation. Click here!

ATTENTION INGLEWOOD CALIFORNIA Home Owners! Do you know how much your home is really worth? It may surprise, even shock you.
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Pending Home Sales Dropped in January

Fewer Americans signed contracts to buy homes in January, as the recent hot streak appears to have been curbed by a shortage of properties for sale and colder weather.
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Are you a fan of this beautiful bathroom, complete with a TV in the mirror??

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5 Home Improvements That Can Lower Your Taxes

As you’re preparing your taxes this year, don’t forget to consider how your home might help you reduce your tax burden.
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What do you think of this chic entry way? Does the color catch your eye?

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Surprise! Your Credit Score Matters More Than Ever In 2016

If you entered into adulthood after 2008, you probably became accustomed to thinking your cash savings are more likely to grow when safely tucked under your mattress than in most bank accounts, and that interest rates on auto loans and other loans are set in the single digits. But in December 2015, after seven years of fostering a low-interest environment intended to encourage consumer spending and investing, the Federal Reserve moved to increase rates by 0.25%. While the interest rate hike was certainly on the low end, it signals a shift for consumers — one that makes maintaining a high credit score even more of a priority going forward.
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What is your favorite element of this beautiful family home?

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Custom list of Fixer Upper homes in Inglewood California

Are you looking for a Fixer Upper home in the INGLEWOOD CALIFORNIA market area? We have this custom list of homes just for YOU!
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Confidence Among U.S. Homebuilders Declines to Nine-Month Low

Confidence among U.S. homebuilders dropped in February to a nine-month low as potential buyers stayed away, interrupting the steady progress residential real estate had built over the course of 2015.
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