The Grangetto Group, Inc. - Real Estate Services (760) 525-4228

EIGHT THOUSAND?

 

$8,000.00 IN TAX CREDITS?!?!

 

You read it correctly.

The Federal and State government are offering AMAZING tax credits for purchasing a home right now (the state is offering up to $10,000 on a new home purchase). Tax credits are NOT THE SAME as tax deductions. You actually get the dollar amount credited toward your tax amount owed and in some cases a REFUND!

Attached is an outline of the details: Homebuyer Tax Credit Chart

Now more than in many years past it makes sense to purchase a home.

What are you waiting for?

 

The Clock is Ticking for First Time Home Buyers

This is a great interview that indentifies a big opportunity for first time home buyers; however, LISTEN CAREFULLY...THERE IS A DEADLINE TO MEET!

Numbers Don't Lie

I've been digging into the numbers.

Much of the media information these days is full of doom and gloom. I'm sure they can't find a lot of good to report with the economy, jobs and property values being such an issue.

I think I found the silver lining in the gray clouds.

Did you know that real estate sales in San Diego County are up vs. last years numbers?  Here are the facts:

SALES                       Dec. '08     Nov. '08       Dec. '07        +/-   *
Resale houses             2,033         1,631         1,074         89.3%
Resale condos                971            780            521         86.4% 
All combined               3,003         2,411         1,595         88.3%

Simple economics, prices go down, sales go up. Who says right now is a bad time to buy real estate?

*Source: MDA Dataquick

Over Supply On The Market

An over supply of houses on the market, means prices are dropping.

This might signal the perfect opportunity for first-time house buyers to get the house of their dreams or for property investors to buy low.

If you want to invest in real estate or buy your first house at a discount, information is key. You want as much information as possible. Here is a ‘to do’ list of things to consider…

1. Determine what kind of property you want.
2. Realize that the property you buy may not appreciate for some time.
3. Talk to potential lenders and find out how much they’re willing to lend you.
4. Work with a realtor who understands your personal goals for a property.
5. Get out and drive around your preferred area and look around.
6. Negotiate the price well when you’re buying and be sure not to overpay for the home.

Call me for expert advice. You need expert advice to make good choices in this market, do you not? (760) 525-4228.

Power in asking great questions...I am so grateful

Last week my friend Chuck and I went to a real estate training called the Main Event in Palm Desert.

 

It was great. Aside from the weather being nice, there were many exercises we went through that are meant to help us help people to get to what is most important about something; like buying, selling or borrowing. We went through this exercise too on some levels.

 

I had to ask myself, what is important about making money?

 

I started off with reasons like money is comfort, security and freedom. Then we ask, why are these important? The exercise continues on until you get to reasons #5, #6 & then #7. When I got to #5, #6 and #7 the answers revolved around giving my kids a great foundation in school, at home, with sports and socially too. I had a reading disability growing up and this affected my feelings about myself for years. After a lot of personal work and learning I got past the reading difficulties and finally feel really good about myself. So, giving my kids a great start is really important to me. This is my drive to do well at work.

 

I really learned a lot about how to ask great questions.

 

We had some fun too.  One thing we did was, go shopping at the local Ralphs Market for a food drive to benefit the local food bank. We went as a group and it was nice to do something good for others. It didn't really hit me until I went to bed that night. I just felt good. I am not talking 'back massage' good I mean emotionally on the inside. I was touched by the thought of the difference we made in other peoples lives. It was really great to share that experience with Chuck, and the others that also contributed to the 1 ton of food collected.

 

After the event we drove back home. I wanted to see my kids before they went to bed. I made it home just before they were in bed.  Jasmine (5) gave me a big hug and cried that she was so happy I was home. I asked 'why is it important to you that I am home?' I knew the answer... “I am loved”. 

 

What a great life I have!

 

Are you making a difference?

You want to know what I make?

The dinner guests were sitting around the table discussing life.  One man, a CEO, decided to explain the problem with education.  He argued, “What’s a kid going to learn from someone who decided his best option in life was to become a teacher?”  He reminded the other dinner guests what they say about teachers:  “Those who can, do.  Those who can’t, teach.”  To corroborate, he said to another guest, “You’re a teacher, Susan.  Be honest.  What do you make?”

Susan, who had a reputation of honesty and frankness, replied, “You want to know what I make?"

“I make kids work harder than they ever thought they could.  I make a C+ feel like the winner of the Congressional Medal of Honor and an A- feel like a slap in the face.  Don’t waste my time with anything less than your very best."

“I make kids sit through 40 minutes of study hall in absolute silence.  No, you may not work in groups.  No, you may not ask a question.  Why won’t I let you get a drink of water?  Because you’re not thirsty, you’re bored, that’s why."

“I make parents tremble in fear when I call home:  I hope I haven’t called at a bad time, I just wanted to talk to you about something Billy said today.  Billy said, ‘Leave the kid alone.  I still cry sometimes, don’t you?’  And it was the noblest act of courage I have ever seen.  I make parents see their children for who they are and what they can be."

“You want to know what I make?  I make kids wonder.  I make them question.  I make them criticize.  I make them apologize and mean it.  I make them write.  I make them read, read, read.  I make them spell ‘definitely’ and ‘beautiful’ over and over until they will never misspell either of those words again.  I make them show all their work in math, and hide it on their final drafts in English."

“I make them understand that if you have the brains, and follow your heart, if someone ever tries to judge you by what you make, pay no attention because they just didn’t learn.” 

Susan paused and then continued, “You want to know what I make?  I make a difference!  What do you make?”

I ran this story in my monthly newsletter "The Grangetto Group Home News" a few of years ago. I like to think I make a difference too.

Respectfully,

Frank Grangetto

"Your Real Estate Consultant...For life"

(760) 525-4228 

Do you have questions?

The negative information about real estate and the mortgage market is well documented in the news and on the Internet. While the real estate price correction and slow down is very real and painful for some of us; it is a natural correction and does create some positive opportunities. Today, let's talk about some of positives.

One example is, homes are still selling. In past slower markets there have been much more strict loan requirements; here that is not the case - yet. Each day, there are emails in my in box noting new loan guideline changes; however for people that have good credit and some cash there is still a big opportunity.

Now really is a good time for people that are looking to upgrade to a larger home or buy income properties, vacation homes or second homes.

Here are a few ideas for you... Bank repo's, foreclosures, short sales and the properties that are priced to compete with them.

There are some home owners that really do need to sell right now - here are the benefits of buying these homes; ease of purchase, less competing buyers, seller warranty and often times better maintained homes.

There are some properties that are in default and/or foreclosure. This would include:

Short Sales: A short sale is where an owner owes more than the property is worth and the seller is asking the bank negotiate the sale for a lower return. The house is 'upside down' and the seller needs to show a reason/hardship to the bank...the bank makes the final determination. While there are some deals to be made, it is a lot of work and many times not fruitful because after finding a home, negotiating with the seller, completing inspections and appraisals; the lien holders still have final approval and can reject the offer, leaving potential buyers at 'square one'.

Trustee Sales: This is an opportunity for buyers with cash or a credit line available. On the court house steps, they conduct an auction where buyers can purchase homes for sometimes 15-20% under market value. This is a great way to buy at reduced prices and there are a couple of sales like this each week. I can provide you with a list of properties that are coming up, in areas you request. On a side note, I am looking for a financial partner to do this with me in the future (If you are interested, email me and I will give you more information).

Bank Repo's: There are many homes now listed that are ready to be sold. These homes are sold at a 5-10% savings. Most of these can be found on the MLS. If you would like a list let me know what areas and the price range you would be interested in and I can send it to you.

Many people are afraid to buy right now. There is money to be made in real estate through sales and investments (I know, because I've made some money myself). The time to buy is when no one else is buying (like now) and sell when no one else is selling. You know they saying - Buy low, sell high!

If you have questions, please call or email me. I have time for you and those you care about that need great advice with their real estate decisions.

Frank Grangetto
of The Grangetto Group/Realty Executives

Your Innovative, Energetic Real Estate Consultant with Integrity"
Office: 760-525-4228