What do FHA Appraisers look for when doing an inspection?

Here is a list of items that typically require inspection and/or repair by an expert and compliance return inspection by the appraiser.

1. Broken Windows

2. Damaged decking (unsafe)

3. Holes in interior wall.

4. Fixtures removed and wiring exposed.

5. Water damage (possible mold)

6. Foundation Cracks

7. Furnace and water heater damage / removal

8. Roof damage, holes, shingles missing, leaks.

 This is the area that seems to be open for interpretation: Livability Issues.

1. Stove Missing. Almost always has to be replaced.

2. Sinks, toilets, interior doors missing.

3. Fixtures, both electrical and plumbing (faucets) missing.

4. Cabinets (bath and Kitchen) missing.

5. Carpet, tiles, flooring missing or damaged.

6. Exterior fences, damaged or removed.

7. Anything else that has been removed and is missing (if you can tell it has been pulled out and is supposed to be there, i.e.: baseboards, etc.) 

8. Also, the utilities must be on and functional at the time of inspection.

GREEN Designation

Pleasanton Weekly Press Release with logo

REALTOR® Magazine-Daily News-HUD: Tax Credit Can Be Used on Closing Costs

REALTOR® Magazine-Daily News-HUD: Tax Credit Can Be Used on Closing Costs

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Pleasanton Real Estate: May 2009

Pleasanton is HOT!  Check out this report from CBS News.  If by chance the correct video is not in the main window, just search “Pleasanton” on the same page.  It’s a very interesting report.

Jill Denton get her Green Designation from the National Association of Realtors!

 FOR IMMEDIATE RELEASE

Contact: Jill Denton, Realtor Lic# 01804876 @ 925.998.7747

Hometown GMAC Real Estate: 4725 First Street, Suite 150, Pleasanton, CA 94566

 

 

 

 

LOCAL REALTOR® ACHIEVES NATIONAL ASSOCIATION OF REALTORS® GREEN DESIGNATION April 20, 2009         Pleasanton, CA – Jill Denton with Hometown GMAC Real Estate has been awarded the National Association of REALTORS®’ (NAR’s) Green Designation, the only green real estate professional designation recognized by NAR. Jill achieved this prestigious designation after completing 18 hours of course work designed specifically for REALTORS®.  The courses were created in collaboration with a multidisciplinary team of industry experts from across the country; ensuring designees gain comprehensive knowledge of green homes and buildings and issues of sustainability in relation to real estate.         More specifically, Jill was trained in understanding what makes a property green, helping clients evaluate the cost/benefits of green building features and practices, distinguishing between industry rating and classification systems, listing and marketing green homes and buildings, discussing the financial grants and incentives available to homeowners and helping consumers see a property’s green potential.         “As energy costs rise along with concern for the environment, homeowners are looking for innovative ways to save money and live responsibly,” said Dick Gaylord, NAR’s immediate past president.  NAR’s Green Designation was developed in response to growing consumer awareness of the benefits of resource-efficient homes and buildings. The designation helps consumers who care about energy efficiency and sustainable building practices identify REALTORS® who can help them realize their green real estate and lifestyle goals. As an NAR Green Designee, Jill has gained the knowledge and the tools necessary to become a trusted green resource for Pleasanton. For more information about Jill Denton please visit www.jilldenton.com or email jill@jilldenton.com.     For more information about NAR’s newest designation, visit www.greenresourcecouncil.org

 

Going Green

Going Green is not only a way to help our planet, it’s a way of life.

There are 7 categories in being Green.  Where do you fit in?

• Economizers:  Those who are interested in saving on operating costs through resourse management.
• Investors: Those who are interested in life-cyle cost analysis and the value proposition of various green features.
• Health Conscious: Those who believe in the potential health benefits of  green living.
• Idealists:  Those who believe that conservation of resources for future generation is a social responsibility.
• Lifestyle-Focused: Those who think that living by overall sustainability principles contributes to a more meaningful and comfortable personal lifestyle.
• Eco-Chic: Those who are interested in the status and prestige of green living.
• Skeptical/Unaware: Those who are skeptical of the green hype or are unaware of the benefits of being green.

Which are you?

Now that you know which category you fit into, take it one step further and find out how big is your carbon footprint?  WHAT’S YOUR EARTH IMPACT?

Jill Denton
Realtor, Lic #01804876

Five Deadly Mistakes Home Sellers Make

Sooner or later, most homeowners will be in a position to sell their home. This report summarizes the top five mistakes that home sellers make, simply because the experience is new to them.

 

Mistake #1.  Using a Real Estate Agent Instead Of a Realtor

When you’re looking for help buying or selling property, it’s important to remember that the terms “real estate agent” and “Realtor” are not synonymous.

–  To be a Realtor, you must be a member in good standing of the National Association of Realtors (NAR).  The equivalent organization in Canada is the Canadian Real Estate Association (CREA).  Both are non-profit trade organizations that promote real estate information, education and professional standards.

–  NAR and CREA members adhere to a strict code of ethics founded on the principle of providing fair and honest service to all consumers.  Realtor business practices are monitored at local levels.  Arbitration and disciplinary systems are in place to address complaints from the public or board members.  This local monitoring keeps Realtors directly accountable to the individual consumers they serve.

–  The National Association of Realtors also has earned a strong reputation for actively championing private property rights and working to make home ownership affordable and accessible.

 

Mistake #2.  Failing to Maximize the “Curb Appeal” of Your Home

When you’re preparing your house for sale, remember the importance of first impressions.  A buyer’s first impression can determine whether they’ll choose to look inside.  It’s estimated that more than that 50% of shoppers decide to purchase a home even before they get out of their car.  With that in mind, be sure to stand outside your home and take a realistic “fresh look.”  Then ask yourself (and your Realtor) what you can do to enhance the “curb appeal.”  It could make a significant difference in your final sales price as well as the speed of your sale.

Mistake #3.  Not Appreciating the Buyer’s Point of View

Unreasonable though it may be, a prospective buyer would like to see a perfect home from top to bottom and inside and out.  To improve the likelihood of an easy, fast and profitable home sale, we suggest that you attend to the following items:

 

On the outside

1. Sweep the front walkway.
2. Remove newspapers, bikes and toys.
3. Park extra cars away from the property.
4. Trim back the shrubs.
5. Apply fresh, clean paint on your home, wooden fence, and outbuildings.
6. Clean windows and window coverings.
7. Maintain sprinkler systems.
8. Maintain sealants around windows and doors.
9. Make sure roof and gutters are clean and in good condition.
10. Mow the lawn frequently and plant flowers.
11. Keep pet areas clean.
12. Take down out-of-season decorations.

 

On the inside

1. The kitchen and bathroom should look and smell clean.
2. Vacuum rugs and carpets (and have them professionally cleaned, if necessary).
3. Place fresh flowers in the main rooms.
4. Put away dishes, unless setting a formal display for decoration.
5. Make all beds and put away clothing.
6. Open drapes and turn on lights for a brighter feel.
7. Straighten closets.
8. Put away toys.
9. Turn off televisions.
10. Play soft music on the radio/stereo.
11. Keep pets out of the way and pet areas clean and odor-free.
12. Secure jewelry, cash, prescription medication and other valuables.
13. Consider removing unnecessary furniture and appliances from counter tops to create a greater sense of space.
14. Consider baking cookies or lighting scented candles to create a homey atmosphere.

 

Mistake #4.  Thinking You Need To be In the Home to Provide Details to Prospective Buyers

Allow your Realtor to do his or her job without you on site.  Most potential buyers feel more comfortable if they can speak freely to the real estate professional without the owner present.  If people unaccompanied by an agent would like to see your property, refer them to your real estate professional for an appointment.

Mistake #5.  Over-Pricing Your Home

Perhaps the most challenging aspect of selling a home is listing it at the correct price.  It’s one of several areas where the assistance of a skilled real estate consultant can pay for itself versus trying to sell your home yourself.  

 

If the listing price is too high, you’ll miss out on a percentage of buyers looking in the range where your home should be priced.  Some people think that if they leave some “wiggle room” in the price, they’ll always have the opportunity to negotiate and accept a lower offer.  However, chances are the offers won’t even come in, because the buyers who would be most interested in your home have been scared off by the price, and won’t even take the time to consider it.  By the time you correct the price, you’ve already missed exposure to a group of potential buyers.  

 

The listing price becomes even trickier to set when prices are quickly rising or falling.  It’s critical to be aware of where and how fast the market is moving – both when setting the price and when negotiating an offer.  An experienced, well-trained real estate consultant is always in touch with market trends – often even to a greater extent than appraisers, who typically focus on what a property is worth if sold as is, right now.

This report courtesy of

Jill Denton

925.998.7747

Home Buyers Tax Credits

Spring is one of the most popular times during the year for buyers of residential property.  As you are undoubtedly aware, now is a great time for anyone considering the purchase of a home. There are many properties on the market and interest rates are at historic lows. Please consider the following significant tax breaks for purchasers of residential property:

 

·         A $10,000 state of California tax credit for anyone who purchases a new home

 

·         An $8,000 federal tax credit for some buyers

 

There are limitations and important details to consider for both the state and federal tax credits – buyers can qualify for both if they meet certain criteria. Please call me and I will be happy to explain the specifics.

First-time purchasers get a tax credit windfall if they buy before December 2009.

Final score: $8,000 for homebuyers

First-time purchasers get a tax credit windfall if they buy before December 2009.

By Les Christie, CNNMoney.com staff writer

Last Updated: February 17, 2009: 12:13 PM ET

NEW YORK (CNNMoney.com) — There’s a nice windfall for some homebuyers in the economic stimulus bill awaiting President Obama’s signature on Tuesday. First-time buyers can claim a credit worth $8,000 – or 10% of the home’s value, whichever is less – on their 2008 or 2009 taxes.

A big plus is that the credit is refundable, meaning tax filers see a refund of the full $8,000 even if their total tax bill – the amount of witholding they paid during the year plus anything extra they had to pony up when they filed their returns – was less than that amount. But there has been a lot of confusion over this provision. Adam Billings of Knoxville, Tenn. wrote to CNNMoney.com asking:

“I will qualify as a first-time home buyer, and I am currently set to get a small tax refund for 2008. Does that mean if I purchased now that I would get an extra $8,000 added on top of my current refund?”

The short answer? Yes, Billings would get back the $8,000 plus what he’d overpaid. The long answer? It depends. Here are three scenarios:

Scenario 1: Your final tax liability is normally $6,000. You’ve had taxes withheld from every paycheck and at the end of the year you’ve paid Uncle Sam $6,000. Since you’ve already paid him all you owe, you get the entire $8,000 tax credit as a refund check.

Scenario 2: Your final tax liability is $6,000, but you’ve overpaid by $1,000 through your payroll witholding. Normally you would get a $1,000 refund check. In this scenario, you get $9,000, the $8,000 credit plus the $1,000 you overpaid.

Scenario 3: Your final tax liability is $6,000, but you’ve underpaid through your payroll witholding by $1,000. Normally, you would have to write the IRS a $1,000 check. This time, the first $1,000 of the tax credit pays your bill, and you get the remaining $7,000 as a refund.

To qualify for the credit, the purchase must be made between Jan. 1, 2009 and Nov. 30, 2009. Buyers may not have owned a home for the past three years to qualify as “first time” buyer. They must also live in the house for at least three years, or they will be obligated to pay back the credit.

Additionally, there are income restrictions: To qualify, buyers must make less than $75,000 for singles or $150,000 for couples. (Higher-income buyers may receive a partial credit.)

Applying for the credit will be easy – or at least as easy as doing your income taxes. Just claim it on your return. No other forms or papers have to be filed. Taxpayers who have already completed their returns can file amended returns for 2008 to claim the credit.

First Time Home Buyers Seminar

Attend a Free First-Time Home Buyers Seminar and learn what you need to know BEFORE you buy your first home. 

The class will save you time, money and worry – even if you’ve owned a home before.  We’ll discuss and answer your questions regarding: Mortgage, Title, Insurance and Real Estate.  Here are a few of the topics:

·         Help answering the question, “Am I ready to buy a home?”

·         How to get pre-approved to buy a home that you can afford.

·         Information on how to buy a home with a low down payment.

·         What does the Title Company do for me?

·         Do I qualify for the First-Time Homebuyer $7,500 tax credit?

·         Why do I have to have home owner’s insurance?

·         What to expect with the process of buying a home.

You’ll leave this free seminar with a clearer vision of how the process comes together; as well as, with a free Home Buyers’ Information kit for easy reference.

 Date:  Saturday, April 25th, 2009

Location: Hometown GMAC Real Estate, 4725 First St, Suite 150, Pleasanton

Time:  10:00am-11:00am

 

Please register ASAP!  Seating is limited! 

·         Plan to arrive about 10 minutes early to grab a good seat.

·         If you do have to cancel once you’ve registered, please notify us immediately so we can free up the seat for someone else.

·         There is no pressure or obligation.  Just come and learn.

 

To sign up contact Jill Denton:

Email Jill or Call 925-998-7747 for more information.

Please forward this information to your family, friends, neighbors and coworkers who might benefit from learning the process of buying their first home.