Patty McMillen

Our office is doing super! Click below to see a  list of the Realty World November Top Achievers.

2011_11_November

5620 Black Bart Trail, Redwood Valley

Lakeviews, private gated setting on hilltop with 4.5 acres. 3 bedroom 2.5 bath home, remodeled kitchen with granite counters, hardwood floors and walk in pantry. Large covered outdoor entertaining area with built in barbecue, large deck for entertaining, two car garage with adjoining workshop & above storage, below property is a large pad with full sun exposure for gardening and potting shed, lots of fruit trees. $469,000

Call me to schedule a private showing!

707-467-3637

There have been lots of questions regarding the new tax to come on January 2013.  This is a federal tax for some but not for all.  The tax is sometimes called a “Medicare Tax” because  of the tax are earmarked for the Medicare Trust Fund.  The tax has the potential to increase taxes for owners who sell their primary residence and investors who sell investment property, so it is important for all owners of real estate and their advisors to have a basic understanding of how the tax will work.

The new tax is an additional 3.8% tax on “unearned income” whih is generally defined as interest, dividends, rents and capityal gains.  The tax is only imposed to the extent the taxpayer’s adjusted gross income (AGI) is higher than $200,000 for an individual or $250,000 for a married couple.

There will be more information coming as we proceed to 2013.

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This has  been all over the news and here is the update on which borrowers may be eligible for the enhanced HARP program.

• The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae.
• The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
• The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae Loan that was  refinanced under HARP from March-May, 2009.
• The current loan to value ratio must be greater than 80%.
• The borrower must be CURRENT on the mortgage at the time of the refinance, with no late payment in the past six months and no more than one late payment in the past 12 month.

If you don’t know what type of loan that you have you can go to Freddie Mac or Fannie Mae and type in your name or loan number and it will tell you if you have one of these loans.  There will be more information to come as this program starts.

This executive  home offer 3954 square feet with four bedrooms three baths on 3 acres, formal dining, master bedroom with fireplace & game room, two wells, 2500 square foot gambrell style barn with stall & concrete floors, excellent opportunity to own your own home $314,900.00

VA Home Loans are mortgages guaranteed by the US Department of Veterans Affairs and are available for all qualified Veterans, active duty personnel, certain reservist, National Guard members and surviving spouses of those missing in action or who have died in active duty.  The Veterans Administration stands behind the loan with the lender.  This guaranty reduces the risk for the lender, and as a result, allows the lender to reduce the overall cost of the loan in terms of rates, fees and closing costs.  Lower costs translate into lower payments which makes it easier for home buyers to qualify and/or buy homes with higher loan amounts.

If you would like for information on homes that qualify, please give me a call at 707-467-3637

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Lake County is home to the cleanest air in California, achieving state standards for the past 22 years, as certified by Air Resources Board. In fact, Lake County made the Top l0 list of cleanest counties in the nation for a year-round particle pollution; in the American Lung Association’s State of the Air 2011 report, Lake County tied for No. 6 with Maui, Hawaii.

Homeownership Plummets: The nation’s homeownership rate fell to 65.9 percent in the second quarter, its lowest level since early l998, according to the Census Bureau.  The decline, which shows as many as 1 Million more renters than a year ago, spared no region.

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U.S.D.A. Rural Development has partnered with a number of local lenders to help extend 100% financing opportunities to individuals and families living in rural areas.  This unique program offers 30-year fixed-rate mortgage financing guaranteed by the U.S. government.  Additional advantages under this program include the ability to finance closing cost and the required guarantee fees into one loan amount.  With the added advantages under this program include the ability to finance closing cost and the required guarantee fees into one loan amount.  With the added advantage of gifts, grants, and seller concessions also permissible under this program, potential home buyers can purchase a home in a USDA approved* neighborhood with no money down.