Jonathan Cabral goes after his goals

Jonathan Cabral (Courtesy of the Acorn)

By: Sheri Karp

The Agoura Hills track and field hurdler recently ran the 3rd fastest time in the nation for the 300 hurdles with a time of 36.83 seconds. On March 4th, Jonathan Cabral also set his personal best in 110 hurdles in 13.81 seconds, which is also a top 10 national mark.

The 6-3, 180 pound hurdler is built perfectly for the sport, but his technique is superb. “Every day I get my technique better, slowly by slowly,” says Cabral. “It’s kind of cool but I don’t let it get to me.”

Despite his lax attitude, Cabral aims to obtain a world record the end of his senior year. He then plans to attend the London Olympics in 2012. Keep your eye on this star, he is doing big things.

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Sheri Karp

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By: Sheri Karp

Since it’s genesis in August, 2009, the Agoura Hills farmers market in the Agoura Hills City Mall has been a hit. Every Sunday from 9am to 2pm, the market pulls in the community to help support local farmers. The idea is fabulous and the community has thoroughly embraced it.

Recently, however, musicians with amplifies will be allowed to perform at the weekly farmers market. Although no stage is permitted, they are allowing a signer and 2 other musicians to accompany. Given the music is not disruptive, this idea could add a complimentary element to the community farmers market. Look for a change next week when you head over to grab your fresh vegetables.

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Sheri Karp

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Since taking office on 2007…

By: Sher Hann

State Controller John Chiang has made returning property to rightful owners has been one of his top priorities, according to his web site. In fact, the State of California is currently holding more than $5.7 billion in unclaimed property belonging to some 11.6 million individuals and organizations.

California acquires unclaimed property through California’s Unclaimed Property Law, which requires “holders” such as corporations, business associations, financial institutions, and insurance companies to annually report and deliver property to the Controller’s Office after there has been no customer contact for three years. Often the owner forgets that the account exists, or moves and does not leave a forwarding address or the forwarding order expires. In some cases, the owner dies and the heirs have no knowledge of the property.

To check if you might have an unexpected windfall, go to http://scoweb.sco.ca.gov/UCP/Default.aspx.

My thanks to Courtney Kittner for this profitable tidbit.

And this just in: A colleague went to this site today and found $500!

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

sherhann1

The state of California has re-established and expanded the $10,000 homebuyer tax credit

By: Rob Jordan

This program was so successful in 2009 that it ran out of funds after just four months with 10,659 home buyers claiming the credit.  The new law doubles the allocation to $200 million in tax credits for homes purchased between May 1, 2010 and Dec 31, 2010.  The state also extended the new credit to first-time homebuyers of existing homes, as well as buyers of newly constructed homes.  The funds will be split evenly between the two groups and will be available on a first-come, first-served basis.

As before, the tax credit is equal to the lesser of 5% of the purchase price or $10,000 and will be applied in equal amounts over a period of three taxable years.  The buyers will have to occupy the home as their primary residence for at least two years.  Buyers have no income limits or purchase price limits.  The only requirements are that the buyer must not be a dependent and must not purchase a home belonging to a relative.  Remember – the program ends when funding allocations have been met.

Rob Jordan
tel 818 237 4425
fax 818 332 7051
www.robjordanhomes.com

Estate Agent
Sotheby’s International Realty/
Ewing and Associates

Information provided by Rob Jordan, Estate Agent at Sotheby’s International Realty/Ewing and Associates Agoura Hills. Contact Rob at 818 237 4425. Original article by Brownie Stanisch, Prospect Mortgage.

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Rob Jordan

By: Rob Jordan

If you don’t know, there’s been an ongoing battle to build a school over a 71 acre piece of land in the city of Agoura Hills. Heschel religious school owned property east of Chesebro Road that allegedly went into default and will now be sold to the highest bidder. Heschel sought approval from LA county to construct a larger campus that would effectively host 750 students. But, given the current economic crisis, Heschel school has decided to continue operating the 9 acre property currently in use.

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Rob Jordan

Great News for Conejo Valley FHA Buyers and Sellers!

By: Rob Jordan

It’s a common scenario for a real estate agent. I have a well-qualified FHA buyer who has been patiently making offers on condos and town homes, but losing every sale for the last six months.  I now locate the property of their dreams, miraculously get the offer accepted, and find the condo project is not FHA approved.  AAAARRRRGGGGHHHH!

But there may be some good news!

A bit of background: FHA is a great way for entry level buyers to purchase a home. FHA purchases only require a 3.5-5% down payment, AND the seller may pay some of the Buyer’s closing costs. By the time you add in the first time buyer’s tax credit, it can take only a few thousand dollars to buy a home!

But the FHA has strict guidelines about property condition, so there is a list of FHA approved condos. If a project is on the list, it’s “preapproved for FHA purchases”.

If a project is not on the approved list, it was possible to obtain an FHA “spot” approval for one particular unit. But this was time consuming and often unsuccessful.

But in an odd turn of events, instead of fighting a losing battle to get just one unit approved,  I may be able to get THE ENTIRE COMPLEX FHA APPROVED at once.

My loan source, Prospect Mortgage, is an FHA Direct Endorsement lender. This means that they have the authority to approve entire condominium projects… not just one unit. No waiting for the government to get involved. My lender can do it all!

To get a project approved the following are the minimum standards:

·  Projects must be at least 12 months old
·  There can be no pending litigation or special assessments
·  At least 50% of the units must be owner-occupied
·  No more than 15% of the total units can be delinquent in their HOA dues
·  Reserves for capital expenditures must equal 10% of annual budget
·  CC&Rs cannot contain a “Right of First Refusal”
·  No more than 50% of the units may be FHA insured

Why the change in approval process? The government desperately wants the real estate market to recover. So they’re doing everything they can think of to make it easier for buyers and sellers to do business. FHA financing is one way to make it easier for Buyers to buy. It does take a bit longer overall for the process, but in the end, it’s worth it for Sellers and Buyers!

So, are you an FHA Buyer or Seller? I may have good news for you! Contact me today!

Rob Jordan is a successful real estate agent with Sotheby’s International Realty/Ewing and Associates in Agoura. He specializes in the Agoura, Oak Park, Westlake Village area. He can be reached at 818.237.4425, or by email: rob@robjordanhomes.com

(This blog based on an article by Brownie Stanisch, Prospect Mortgage, the best darn loan officer in the business! Call her at 818.742.3137. Article edited and reprinted with permission.)

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Rob Jordan

Pikeys in Agoura

There is a new bar in town…

By: Misty Smoke and Regina Cordell

This new restaurant and pub is all things Irish, right in our own backyard.  Stop by for a pint of Guinness and new experience at Pikeys.

This is Agoura Hills‘ first and only Irish pub and restaurant. Come be part of the community and relax, play a game of darts or watch your favorite teams on one of the 15 HD flat-screen TV’s. PIkey’s serves fabulous food and drinks to give you an Irish pub experience.

Pikeys Pub in Agoura Pikeys Pub
30315 Canwood Street
Agoura Hills, CA 91301
info@pikeyspub.com

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Misty Smoke

Misty Smoke, estate agent at Ewing and Sotheby's International Realty, offers the highest level of services with the essential integrity, dedication and knowledge necessary to achieve her client's lifestyle and goals.With over 10 years of sales experience, Misty's success is a direct result of her dedication to individualized service for her clients.

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By: Rob Jordan

The tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence is in it’s final stages. The tax credit applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by April 30, 2010, a home purchase completed by June 30, 2010 will qualify. So buyers need to be IN ESCROW by the end of April, and CLOSE by end of June.

Here are some common questions and answers regarding the tax credit. (Information obtained from Federal Government website.)

1. Who is eligible to claim the $8,000 tax credit?
First-time home buyers purchasing any kind of home—new or resale—are eligible for the tax credit.
2. What is the definition of a first-time home buyer?
The law defines “first-time home buyer” as a buyer who has not owned a principal residence during the three-year period prior to the purchase. For married taxpayers, the law tests the home ownership history of both the home buyer and his/her spouse.
3. How is the amount of the tax credit determined?
The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
4. Are there any income limits for claiming the tax credit?
Yes. For sales occurring after November 6, 2009, the income limit for single taxpayers is $125,000; the limit is $225,000 for married taxpayers filing a joint return.
5. How do I claim the tax credit? Do I need to complete a form or application? Are there documentation requirements?
You claim the tax credit on your federal income tax return. Specifically, home buyers should complete IRS Form 5405 to determine their tax credit amount, and then claim this amount on line 67 of the 1040 income tax form for 2009 returns (line 69 of the 1040 income tax form for 2008 returns). Please note that although the Form is titled “First-Time Homebuyer Credit,” this is the correct form for claiming both the $8,000 first-time homebuyer tax credit and $6,500 repeat buyer tax credit.
No other applications are required, and no pre-approval is necessary.
6. What types of homes will qualify for the tax credit?
Any home that will be used as a principal residence will qualify for the credit, provided the home is purchased for a price less than or equal to $800,000. This includes single-family detached homes, attached homes like townhouses and condominiums, manufactured homes (also known as mobile homes) and houseboats. The definition of principal residence is identical to the one used to determine whether you may qualify for the $250,000 / $500,000 capital gain tax exclusion for principal residences.
It is important to note that you cannot purchase a home from, among other family members, your ancestors (parents, grandparents, etc.), your lineal descendants (children, grandchildren, etc.) or your spouse or your spouse’s family members.
7.  I read that the tax credit is “refundable.” What does that mean?
The fact that the credit is refundable means that the home buyer credit can be claimed even if the taxpayer has little or no federal income tax liability to offset. Typically this involves the government sending the taxpayer a check for a portion or even all of the amount of the refundable tax credit.
8.  Instead of buying a new home from a home builder, I hired a contractor to construct a home on a lot that I already own. Do I still qualify for the tax credit?
Yes. For the purposes of the home buyer tax credit, a principal residence that is constructed by the home owner is treated by the tax code as having been “purchased” on the date the owner first occupies the house. In this situation, the date of first occupancy must be on or after January 1, 2009 and on or before April 30, 2010 (or by June 30, 2010, provided a binding sales contract was in force by April, 30, 2010).
9.  Is a tax credit the same as a tax deduction?
No. A tax credit is a dollar-for-dollar reduction in what the taxpayer owes. That means that a taxpayer who owes $8,000 in income taxes and who receives an $8,000 tax credit would owe nothing to the IRS.
A tax deduction is subtracted from the amount of income that is taxed. Using the same example, assume the taxpayer is in the 15 percent tax bracket and owes $8,000 in income taxes. If the taxpayer receives an $8,000 deduction, the taxpayer’s tax liability would be reduced by $1,200 (15 percent of $8,000), or lowered from $8,000 to $6,800.
10.  Is there a way for a home buyer to access the money allocatable to the credit sooner than waiting to file their 2009 or 2010 tax return?
Yes. Prospective home buyers who believe they qualify for the tax credit are permitted to reduce their income tax withholding. Reducing tax withholding (up to the amount of the credit) will enable the buyer to accumulate cash by raising his/her take home pay. This money can then be applied to the down payment.

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Rob Jordan

Tax Credits for Replacing Heating and Cooling Systems

By: Rob Jordan

Upgrading to an energy-efficient heating and cooling system can save hundreds on your utility bills and earn you a tax credit worth as much as $1,500.

Replacing an aging heating and cooling system can save you money over time. According to Energy Star, a federal program that promotes energy efficiency, about half of what the average household spends on energy bills goes toward heating and cooling.

Upgrading your heating, ventilation, and air conditioning (HVAC) to energy-efficient units can cut utility costs by about 20%, or $200 annually, on average. A tax credit for heating and cooling systems can make the project more affordable.

You’re going to enhance a home’s saleability by moving to a more energy-efficient heating and cooling system. That doesn’t mean adding a $5,000 furnace will add $5,000 to the sale price. Rather, potential buyers are less likely to push for repairs or negotiate a credit if the HVAC is in good shape.

GETTING TAX CREDIT FOR YOUR UPGRADES

The federal energy tax credit is based on 30% of the cost of an eligible HVAC system. Installation charges count too. A $5,000 bill would max out the credit. You’ll need to owe more in taxes than you’re trying to claim in credits to qualify. Use IRS Form 5695. Save receipts for your records, as well as manufacturers’ certification statements. If part of a new HVAC system qualifies for the credit but another part doesn’t, ask the contractor to itemize the receipt.

Only improvements to your existing primary residence count.

This article provided by Rob Jordan, energetic Realtor specializing in Agoura, Oak Park and Westlake Village. He can be reached at 818 237 4425, or Email Rob.

Rob Jordan
tel 818 237 4425
fax 818 332 7051
www.robjordanhomes.com
Email Rob

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Rob Jordan

Hyman tells his story…

By: Sheri Karp

Rick Hyman

Artist and Historian Rick Hyman and his wife Ronda presented paintings, slide show and a book of Hyman’s heritage which includes slaves and landowners. Thanks to seventh grade teacher, Gila Brook, students received the pleasure of listening to Hyman.

Hyman’s work has been showcased in several museum exhibits and on USPS commemorative envelops and postcards. He recently helped 150 families express their family history through art.

His novel, “My Texas Family: An Uncommon Journey to Prosperity,” documents his ancestral heritage and photographs that his family took from 1912 – 1927.  Hyman plans to paint depictions based on 300 photographs. He has painted 36 since 1996 with the help of his creative adviser, his wife.

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Sheri Karp

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