Timeshare Trading Companies - Review and Comparison

As an owner of nine timeshares, I have had the unique ability to use many of the exchange companies over the years. In my opinion, the best customer service is offered by VRIety Exchange (powered by Trading Places), the best value is offered by VRIety Exhange and the best exchange company overall would be a tie between Interval International and VRIety Exchange. RedWeek is up-and-coming and if they are able to increase their inventory, their low cost and fair points-based system may overtake the others. Having the diversity of four exchange companies makes vacationing anywhere possible. Our road-trip this summer will include one II short-stay, one RCI trade, and one VRIety split-week trade in addition to hotel/extended-stay reservations. The diversity of memberships has offered options, but I do not plan to renew my RCI membership when it expires next year because of their drive to sell deposited units to travel agents; an exchange company should be in the business of exchanging units not selling then to outsiders. 

$18,000 in Combined Homebuyer Tax Credits for a Limited Time

Today I received an important alert from the California Association of Realtors I wanted to share with you.

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Californians have a brief window of opportunity to receive up to $18,000 in combined federal and state homebuyer tax credits.  To take advantage of both tax credits, a first-time homebuyer must enter into a purchase contract for a principal residence before May 1, 2010, and close escrow between May 1, 2010 and June 30, 2010, inclusive.  Buyers who are not first-time homebuyers may use the same timeframes to receive up to $16,500 in combined tax credits if they are long-time residents of their existing homes as permitted under federal law, and they purchase properties that have never been previously occupied as provided under California law.

Under the federal law slated to soon expire, a first-time homebuyer may receive up to $8,000 in tax credits, and a long-time resident may receive up to $6,500, for certain purchase contracts entered into by April 30, 2010 that close escrow by June 30, 2010.  Additionally, under a newly enacted California law, a homebuyer may receive up to $10,000 in tax credits as a first-time homebuyer or buyer of a property that has never been occupied.  The new California law applies to certain purchases that close escrow on or after May 1, 2010 (see Cal. Rev. & Tax Code section 17059.1(a)(4)).  California law generally allows buyers of never-occupied properties to reserve their credits before closing escrow, but buyers seeking to combine the federal and state tax credits will not be able to satisfy the timing requirements for such reservations (see Cal. Rev. & Tax Code section 17059.1(c)(1)(A)).  Other terms and restrictions apply to both tax credits.

For more information, C.A.R. offers a Homebuyer Tax Credit Chart with a side-by-side summary of the federal and California laws.  C.A.R. also offers a legal article entitled Homebuyer Tax Credit Update.

Realegal® is published by the CALIFORNIA ASSOCIATION OF REALTORS®, a trade association representing more than 175,000 REALTORS® statewide.
Edited by: Stella Ling
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Let me know if you have any questions or need any help finding your next home.

Life Expectancy of Home Components

I have always found it interesting to review the budget summaries of the many timeshares I own.  They budget reserves (sort-of like a savings account for major repairs) for roofing, furniture, etc.  I was curious as to how long major components in my house should last and when could I expect them to go out.  I looked around and found a published detailed report from 2007 outlining most of the major components in a house. 

You can view the Life Expectancy of Home Components Report by clicking the link.

What Do Home Inspectors Look For?

So what exactly do home inspectors look for?  If you are buying orselling a house it is important to know what can and will be foundduring a home inspection.  For sellers, it is a good idea to make sureyour home is in tip-top shape.  For buyers, you will want to know what isn't inspected so you can have a specialist come out and look atadditional items you find necessary.  Win Home inspection has an informational flyer about what is and what is not included in their home inspections. 

Click here to view the attached Home Inspection Information Flyer published by Win Home Inspections.

Real Estate Conference Was A Winner

Where do I start? Can’t beat having a conference so close to home at the San Diego Convention Center. There were so many great learning sessions from improving memory to better communicating with online consumers. At the Expo we had several hundred vendors including Chase, Wells Fargo, IDX Broker, My Personal Marketing Company, Realtor.com, and more.  Best of all, we had a private celebrity concert featuring Reba – now that was awesome. I look forward to using the knowledge I gained to help my buyers and sellers make the best of their transactions. 

Windows 7 Upgrade

Yesterday, I did it; I got rid of Vista and replace my operating system with the new Microsoft Windows 7.  I had an option to 'upgrade' but I chose to start fresh with a completely new OS installation.  The installation program put all of my old stuff in a folder called "Windows.old" which has been very convenient.  At first, I was frustrated and re-installed it three times because all I saw was a black screen with a white arrow. Well, as it turns out, it was my misunderstanding of a setting. I have two monitors on my computer (one my desktop and one my HD TV) but only my desktop monitor was turned on. All the setup information was being displayed on the monitor that was turned off. Once I figured this out, things have been great.

I was happy to discover very few compatibility issues in Windows 7.  As a Realtor, I use a program called Winforms to prepare contracts.  It never worked right in Vista so I always had to keep my XP laptop on hand to prepare my contracts.  I installed Winforms onto my Windows 7 OS and it works perfectly.  I have had no issues with Windows 7 except installing my Brother MFC-8460N printer/scanner.  Microsoft and Brother both indicate this will work with Windows 7 but it doesn't.  Brother's website says Windows 7 Drivers will be available shortly.  So, I guess I will wait.  I also do not like the way the start menu work, it has the Vista feel and no option to go back to the classic feel like Vista did.

The new look and feel make Windows 7 a winner in my book.  You get thumbnails of every application you have running.  If you hover over the thumbnail, it gives you a full-screen preview which is really awesome.  If you like listening to music, the media player with the thumbnail functionality makes listening easy.  I toyed with the Internet TV function, but I was not impressed; it is nice, but after using ABC's full episode player, there is no comparison.  Microsoft should check out the ABC full episode player and mimic it.  If you haven't seen the full episode player, check it out at http://abc.go.com/watch. 

Overall, Windows 7 is well worth the money.  You can buy a three license family version through amazon for around $150 (Windows 7 Home Premium Family Pack on Amazon).  I have installed Window 7 on my home computer with just my network printer problem.  My son should have his computer up with Windows 7 tomorrow and we will see how it goes - I anticipate the same printer problem though. 
 

Home Prices on the Way Up

Nothing beats a little good news; no doubt we have enough bad news to go around.  As soon as I heard that the CAR (California Association of Realtors) economists announced that home prices would likely climb 3.3% in 2010, I wanted to share the good news with you.  In the past, CAR economists have been reasonably accurate so this information comes with credibility.The Press Enterprise has a nice summary of the 2010 market forecast online.

You can read the summary at: 

http://www.pe.com/business/local/stories/webhousing08.1f3b159c5.html. 

Let me know your thoughts!

Yucaipa Real Estate Blog

The National Association of Realtors recently released an in-depth reference guide to the economic recovery act of 2009.  This guide provides information and guidelines about the first-time home buyer tax credit that is available in 2009.  If you have been considering home ownership or purchased a home recently, you may find this guide helpful.  If you have a friend or family member who may benefit from this information let me know.  For specific questions about the tax implications of the credit, please consult a tax professional. If you or anyone you know is in need of real estate advice or assistance, I am just an e-mail away.