How about this indoor/outdoor living space? Could you see yourself enjoying summer nights out here?

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The Newberry Team

Check out some new information on our blog
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Now’s The Time to Sell Your Home!!

Los Angeles and U.S home prices have shown good growth lately.  Nationally, prices climbed 5.43% in December compared to last year.  That’s the fastest climb since July 2014, according to the S&P/Case-Shiller index.  Los Angeles and Orange Counties did even better, with prices climbing 6.17%.  Economists attribute this growth to low mortgage rates and job growth, but the major factor is a lack of homes for sale.

In the Southern California area, there was a 4.8 month supply of homes for sale in January, compared to a 5.5 month supply during the same month in 2015.  The California Association of Realtors places a normal supply at six months.  So if you’ve been thinking of selling, there’s never been a better time to put your home on the market.  And, if you need to make a few improvements before you list your home I can help with the necessary funds to make that happen.  Just e-mail me at “GeorgeNewberry@bhhsCAprops.com”

Tis the Season for Tax Breaks

With April 15 rapidly approaching, many are scrambling to complete their taxes.  For those who have recently bought or sold a home, there are a number of tax deductions that that may be a pro-rated portion of the taxes for the year at closing. This tax deduction also gets overlooked.

For those working from their new home: If a room is used exclusively for business purposes, they may be able to deduct home costs related to that portion, such as a percent­ age of your insurance and repair costs, and depreciation.  In some instances, if you have moved because of a new job, moving costs may be deducted. These can include travel or transportation costs, expenses for lodging, and fees for storing your household goods.

Every year the tax laws change and certain tax deductions become available while others phase out. If you have recently bought or sold a home, it's probably a good idea Real Estate broker's commissions, title insurance, legal fees, advertising costs, administrative costs, and inspection fees are all considered selling costs and may be used to reduce one's taxable capital gain by the amount of the selling costs. That could result in a big savings depending on the final sale price.

Interest that is paid on a mortgage is also tax-deductible, within limits. A married couple filing jointly can deduct all their interest payments on a maximum of $1 million in mortgage debt secured by a first or second home.  Buyers may also be able to deduct some of the interest they paid on a home equity loan or similar line of credit.

One deduction that many buyers often overlook is points. Points or origination fees on a home loan that were paid during the purchase of a home are generally tax-deductible in full for the year in which they were paid.  Refinanced mortgage points are also deductible but only over the life of the loan- not all at once. Homeowners who refinance can immediately write off the balance of the old points and begin to amortize the new.

Making improvements to property prior to the sale or once one moves-in might qualify for an interest deduction on your home improvement loan. Qualifying capital improvements are those that increase your home's value, prolong its life, or adapt it to new uses, such as adding a porch or installing energy-efficient windows.

Many times during a sale, the seller will send the local tax collector's office a check for real estate taxes prior to the closing. In many circumstances, however, the buyer will pay to seek out a professional tax consultant to do your taxes as missing deductions that you can legally claim can add up to quite a bit of money

4 things every seller should do before putting their house on the market

You only get one chance to make a good first impression in real estate. Once your home’s listing goes live, the days on market start ticking.
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Would you love to have this elegant bar in your new home?

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The 5 Real Estate Trends That Will Shape 2016

It’s almost the new year. Get ready to break out the Cristal: We had a great 2015—the best year for housing since 2007. And our forecast here at realtor.com® projects an even better year in 2016.
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Wow, look at this gorgeous pond! Is this your dream home?

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Housing Starts in U.S. Drop to Lowest Level in Three Months

Housing starts dropped 3.8 percent to a 1.1 million annualized rate, the weakest in three months, from a 1.14 million pace the prior month, a Commerce Department report showed Wednesday in Washington. The median forecast of 76 economists surveyed by Bloomberg was 1.17 million. Permits, a proxy for future construction, were little changed.
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Is this ultra-organized laundry room perfect for you?

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Should I buy a home while still paying student loans?

The decision to become a homeowner is likely to be the biggest financial commitment you'll make, and many factors should be taken into account.
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Should I buy a home while still paying student loans?

The decision to become a homeowner is likely to be the biggest financial commitment you'll make, and many factors should be taken into account.
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How to Probate Real Estate in California

Here's detailed information about how to handle selling a home through Probate in California. .
from The Newberry Team - Los Angeles & Orange County Real Estate https://www.youtube.com/watch?v=XzJIr5Eun94&feature=youtu.be

How to Probate Real Estate in California

Here's detailed information about how to handle selling a home through Probate in California.
from The Newberry Team - Los Angeles & Orange County Real Estate https://youtu.be/XzJIr5Eun94

What do you think of this elegant back porch? Would you love to relax here?

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Mortgage rates fall for 6th straight week, hit 10-month low

The average 30-year fixed rate mortgage fell this week from 3.72% to 3.65%, its lowest point in 10 months, according to mortgage buyer Freddie Mac.
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WOW, you have to see some of these GORGEOUS homes!

NEW EXCLUSIVE LIST of 1 ACRE PLUS homes in INGLEWOOD CALIFORNIA!
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Tips for First-Time Homebuyers Venturing into the world of home ownership can be a little scary, if you’re a first-time homebuyer. You just aren’t sure what you’re getting yourself into, what to expect, or what the process entails. Here are a few things to keep in mind when looking for your first piece of California to own. First, find a Realtor® you can trust. Realtors® have a wealth of experience in identifying and working with lenders, home inspectors, termite companies, and title companies, and negotiating the myriad of other hoops you’ll need to jump through. The home buying process demands a first-class group of professionals with expertise in various areas, and for the first time home buyer, assembling this posse is next to impossible. Trust your Realtor® to help. Second, before meeting with your lender, gather all the paperwork you’ll need. To do this, think “twos:” You’ll need your last two paystubs, W-2s, tax returns, and bank statements. Be honest with your lender about your monthly income and budget, including how much you currently spend on rent, utilities, entertainment, clothing, food and transportation. You need to show that you can take on a mortgage and stay within your means. Your lender will let you know your credit score and the amount you are qualified to borrow for a home. Next, discuss with your Realtor® exactly what you’re looking for in a home. And when you do find a home you like, take it! The biggest mistake I’ve seen first-time homebuyers make is passing up a home they like because they think they’ll find something better later on. You might find something better later on, but you might not, and in the meantime, you could easily lose out on a great house. [Don’t let perfect become the enemy of great!] Also, interest rates might rise, and the monthly payment is far more important than the purchase price. I always ask my clients to imagine leaving my office right now and seeing a $50 bill lying on the sidewalk. Would they pick it up, or would they step over it and keep walking in hopes of finding a $100 bill somewhere down the street? Trust your feelings. When you’re about to make an offer, ask your Realtor® to estimate your share of the closing costs. If they tell you that the Escrow Company will give you that information, or not to worry about it, you’re working with the wrong Realtor®, because this figure is easy to estimate and it’s something you need to know. Many first-time homebuyers are stunned by the amount they’ll need to bring to the table in closing costs to finalize the purchase of their new home. Lastly, once you make an offer on a home, DON’T decided to celebrate by buying something new for yourself like a car, new stereo, TV, etc. I’ve seen people do this and it’s resulted in them not qualifying for their home loan. Rather than get into a lengthy explanation here as to why this is true, I’ll simply ask you to talk to your lender about this. They’ll explain it. Wait until you’re in your new home, then celebrate. Interest rates couldn’t be lower than they are right now, so now is definitely the time to buy. Happy house hunting!!!!

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An Overview of How to Probate Real Estate in California So, you need to go to Probate Court to dispose of some Real Estate and are unsure of what to do. You’re not alone. About 80% of probate cases in California involve Real Estate. In fact, Superior Court downtown on Hill St. reports about 600 new cases every 2 weeks! Most people feel overwhelmed by what is involved in selling Real Estate through probate, not even sure where to start. This article addresses those concerns. Let’s start with some administrative issues. You’re not required to hire an attorney, but if you don’t know the process, it’s best to hire a professional. Attorneys have been trained to handle the complications that often arise, even in seemingly simple cases. Calculating attorney fees for a formal probate is straightforward and can be found in California’s Probate Civil Code §§ 10810 &10811. As of April 8, 2013, all probate cases need to be filed in Room 429, at the Superior Court downtown (111 N. Hill St.). There are a few exceptions, but you should call the Court for a clarification. Any heir can begin the probate process, but the Court will appoint the estate’s representative (the “Executor/Executrix” named in the will, or an “Administrator,” if no will exists or the individual named in the will cannot or will not serve). To be appointed the Estate’s representative, you must typically post a bond equal to the value of the Estate, unless a bond is waived in the decedent’s will. You can also request the bond be waived if the beneficiaries are all adults and in agreement about the disposition of the Estate; however, even in those cases, the Court may require a bond if it feels there’s a need. Simple…right? The Probate process begins with the filing of a “Petition for Probate” (Form DE-111), along with a notification of the Petition in the local newspaper. The form is fairly self-explanatory, but if you are representing yourself, you need to type in, “Petitioner in pro per,” after the words, “Attorney For,” in the top box. Although there’s no specific time frame for filing a Petition, if you’re the Executor/Executrix named in the will, you must file the petition (and the will) within 30 days of your learning of the death, or you may be found to have waived your right to appointment. Another section at the top of the form is of great importance when it comes to handling Real Estate. In the “PETITION FOR” Section, you can request to act independently of the Court’s oversight for matters related to the estate. If you lack this authority, the Court will schedule a hearing for any proposed Real Estate sale. At this hearing, the administrator will request approval of the sale to the successful bidder, but any person may “out-bid” the offer being made by the administrator (based on an “over-bid” calculation set forth in the Probate Code). The highest qualified bidder will get the Court's approval and will be the final buyer. You are free to choose your own Real Estate agent to market and sell the property. However, use caution in this area: The agent you use should have a working knowledge of the probate process. Some agents will tell you they have a Buyer for your property, simply to get in the door to try to convince you to list with them. This is the last thing you need during this difficult time. It’s best to discuss your choice of a Realtor® with your attorney.

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Improve Your Credit Score Those looking for a home should check their credit score before spending their valuable time house hunting. There’s nothing worse than learning your credit report contains a late payment that could prevent you from buying a property. The higher your credit score, the better. A score of at least 620 will give you a good chance to secure a home loan; 720 should qualify you in most cases. That being said, a lower score doesn’t mean you won’t be able to finance a home. It simply means some credit repair is needed. Credit repair starts with your credit report. You can request a free copy of your credit report annually from the Federal Trade Commission at “AnnualCreditReport,com.” Once you receive it, check it thoroughly for errors. If you uncover errors call the Company responsible and get them fixed. Try disputing the account discrepancy as “not mine.” Once you’ve fixed any errors, if there are still negative marks you can definitely take steps to fix them. For example, if you’ve missed a payment, call the creditor to explain and ask them to erase the negative listing. A well-documented letter of explanation can be of great help. There’s no guarantee a creditor will remove the negative mark, but if you’ve been a good customer through the years, this method has proven to be successful. A very common problem we’re seeing today is student loan defaults. If this applies to you, you can enter into a “rehab program,” which will get your account back on track after 12 months. It may not be the quick fix you need to buy a home right now, but the sooner you start the sooner that issue will be resolved. One way to boost your credit score is to have an older family member, with a sound credit rating, add you as an authorized user on a credit card. You don’t even need the card in your possession. Simply being added to the account will increase your score! With today’s loans requiring higher credit scores, it’s never too early to start fixing credit challenges.

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Do you love this bright & sunny kitchen with double doors to the back patio??

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8 Ways to Boost Your Home Value

Let the following renovation rules, driven by shifts in the current housing market and informed by Consumer Reports’ nationally representative survey of 1,573 millennials, inform your decisions on improving your home and its value.
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Check out this beautiful porch you can enjoy all year long!

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