Tuesday, November 10, 2009

Saratoga Senior Salvation-A Tax Credit for Move-DOWN Saratoga Buyers

Saratoga Senior Salvation-A Tax Credit for Move-DOWN Saratoga Buyers

By Michelle C. Carr-Crowe

Lost in the hoopla about extending and expanding the “up to” $8,000 credit for new homebuyers is the credit for existing homeowners. In my opinion, this can be “Senior Salvation” - a tax credit for move-DOWN Saratoga buyers.

I called my broker, my local real estate board, the California Association of REALTORS®, and even the IRS to ask my question: does this credit apply for move-down buyers?

So far the answer is, “As long as they qualify and have a tax to apply the credit to, it looks like YES.”

To summarize:
1. A first time homebuyer is one that has not owned a home for at least three years.
2. A repeat homebuyer must have owned their current home for at least five consecutive years out of the last eight years.
3. The maximum purchase price for the new home is $800,000.
4. If single, your earning maximum to qualify is $125,000; if married, it’s up to $250,000.
5. There's no gap between the prior deadline (November 30th) and the new credit period, which ends April 30th.
6. While you must be in a contract to purchase your new home on or before April 30th, you have until June 30th to close the transaction.
7. To prove you qualify, you'll need to attach proof of purchase to your tax return (most likely a HUD-1 or final closing statement).
Caveat: please, please check with your tax professional and attorney before making any real estate commitments.

However, this may finally be a tax credit that helps seniors who’ve lived in their homes for more than five consecutive years of the past eight.

For example, a senior couple selling a 1.5 million dollar single family home in Saratoga Lynbrook they’ve owned for the past 10 years, then buying a single-level 3 bedroom condo in San Jose for $650,000 not only get to keep their $500,000 tax-free capital gains benefit and transfer their tax basis, they can also now use up to $6,500 as a tax credit.

Savings for Cupertino Seniors-the Tax Credit for Move-DOWN Cupertino Buyers

Savings for Cupertino Seniors-the Tax Credit for Move-DOWN Cupertino Buyers

By Michelle C. Carr-Crowe

Lost in the hoopla about extending and expanding the “up to” $8,000 credit for new homebuyers is the credit for existing homeowners. In my opinion, this can be “Senior Salvation” - a tax credit for move-DOWN Cupertino sellers and buyers.

I called my broker, my local real estate board, the California Association of REALTORS®, and even the IRS to ask my question: does this credit apply for move-down buyers?

So far the answer is, “As long as they qualify and have a tax to apply the credit to, it looks like YES.”

To summarize:
1. A first time homebuyer is one that has not owned a home for at least three years.
2. A repeat homebuyer must have owned their current home for at least five consecutive years out of the last eight years.
3. The maximum purchase price for the new home is $800,000.
4. If single, your earning maximum to qualify is $125,000; if married, it’s up to $250,000.
5. There's no gap between the prior deadline (November 30th) and the new credit period, which ends April 30th.
6. While you must be in a contract to purchase your new home on or before April 30th, you have until June 30th to close the transaction.
7. To prove you qualify, you'll need to attach proof of purchase to your tax return (most likely a HUD-1 or final closing statement).

Caveat: please, please check with your tax professional and attorney before making any real estate commitments.

However, this may finally be a tax credit that helps seniors who’ve lived in their homes for more than five consecutive years of the past eight.

For example, a senior couple selling a $2 million dollar single family home in Cupertino Monta Vista they’ve owned for the past 8 years, then buying a new single-level 2 bedroom condo in San Jose for $650,000 not only get to keep their $500,000 tax-free capital gains benefit and transfer their tax basis, they can also now use up to $6,500 as a tax credit.

And as the capital gains $500,000 tax-free credit is set to EXPIRE as of December 31, 2010, now is a huge window of opportunity for seniors seeking to maximize their benefits.

Saturday, November 7, 2009

Lovely 3 Br Home in Exquisite Neighborhood Missing Just 2 Things-YOU & 1 Other Thing …

Lovely 3 Br Home in Exquisite Neighborhood Missing Just 2 Things-YOU & 1 Other Thing …

Lovely 3 Br Home in Exquisite Neighborhood Missing Just 2 Things-YOU …and 1 Other Thing...a Second Bath...But WAIT!
More than half of the homes on this street only have 1 Bath also.
Before you reject, come see it Sunday from 1:30 to 4:30
You can't buy a better neighborhood for the $$!

REMEMBER: Tax Credit and Unemployment Benefits Officially Extended & Expanded
The existing tax credit for first-time buyers, originally set to expire at the end of the month, has been extended, expanded and approved by the House, Senate and President Barack Obama.

The new measure benefits a larger group of potential home buyers. It allows both first-timers and existing homeowners to take advantage of thousands in the form of a tax credit. All properties must close by the end of April.

The measure would continue giving an $8,000 tax credit to first-time buyers. In addition, it provides a $6,500 tax break to qualified homeowners looking to move up to middle-market homes that cost no more than $800,000.

The legislation also significantly raises the qualifying income levels to $125,000 for individual income tax filers and to $225,000 for joint filers.

Grandma's Cottage! Updated Willow Glen Charmer! Located in Superb Neighborhood!
* REDUCED $!
* FREE Gifts at Open House on Sun, 10/18 1:30-4:30!

*Grandma's Cottage is Light, Lovely & Squeaky Clean!
*Move-In Condition & Located on Quiet St in Fabulous DRY CREEK Area of Willow Glen!
*Gleaming Hardwood Floors!
*Dual Pane Windows!
*Custom Blinds!
* Great Natural Light-Fabulous Airy Feeling-All BR Feature 2 Windows!
* Gated CourtYard!
* Pretty Patio!
* Yummy Fruit Trees!
* E-Z 2 Block Walk to Booksin, Willow Glen Jr & Willow Glen High!

2180 Cheryl Way, San Jose

Tax Credit and Unemployment Benefits Officially Extended & Expanded

Tax Credit and Unemployment Benefits Officially Extended & Expanded

By Michelle C. Carr-Crowe

The existing tax credit for first-time buyers, originally set to expire at the end of the month, has been extended, expanded and approved by the House, Senate and President Barack Obama.

The new measure benefits a larger group of potential home buyers. It allows both first-timers and existing homeowners to take advantage of thousands in the form of a tax credit. All properties must close by the end of April.

The measure would continue giving an $8,000 tax credit to first-time buyers. In addition, it provides a $6,500 tax break to qualified homeowners looking to move up to middle-market homes that cost no more than $800,000.

The legislation also significantly raises the qualifying income levels to $125,000 for individual income tax filers and to $225,000 for joint filers.

Finally, the bill would extend unemployment benefits 14 more weeks nationwide and 20 more weeks in California and other hard-hit states. That would give the long-term unemployed nearly two years' worth of benefits.

Reprinted with permission from the National Association of REALTORS®.

Thursday, November 5, 2009

Ten Ways to Make A Difference Daily Even When You Have No Cash

Ten Ways to Make A Difference Daily Even When You Have No Cash

Did you know there are at least 10 ways to make a difference in the world daily—even when you have no cash? It’s true, easy, and can be done in less than 10 minutes each day.

One is to simply smile, and be sure to give your smiles away. Everyone needs encouragement. Besides, it makes you look younger.

Two through seven are clicking various websites to donate support. The way it works is generous corporate sponsors, such as The Nature Conservatory, Mercy Corps and the Helen Keller Foundation, will donate resources for every daily click.

Two thru Seven are clicking daily to generate monetary support from generous corporate sponsors for important causes
2. Click to feed the homeless animals
3. Click here to feed the hungry children of the world
4. Help provide mammograms to needy women
5. Provide life-saving vitamins, prosthetics, surgery, disease testing and vaccines to children
6. Help save a portion of the rain forest
7. Help teach children to read and love books.

I love this program. I've been telling people to view and click these six "sister" sites since 2005.

Number eight is to pray for these needs, the people giving and receiving them.
Nine is to sincerely thank at least one person each day, whether it's a family member, friend or stranger.

Number ten is easy – tell your friends! You can become a FaceBook fan of these sites, blog about them like I did, write a published newspaper article about them like I did, forward an email of this article, text message or simply call your friends. Like you, they’ll likely be grateful to know there are nine things they can do daily to make the world a better place.

Be sure to write these down, and make a commitment to repeat all nine steps daily.
YES! You can click these daily, but only once. (Insert smile emoticon here.)

Tuesday, November 3, 2009

Cupertino Schools Residents-Remember to Exercise Your Right to Vote Today!

By Michelle C. Carr-Crowe

Whether you live in Cupertino, San Jose, Santa Clara, Sunnyvale or Los Altos, your property’s value benefits from being in the Fremont Union High School District (commonly referred to as “Cupertino Schools”). http://www.fuhsd.org
Today, Measure G is on the ballot. Below is a synopsis of the proposal. Basically, it is an extension of the existing parcel tax at the same amount of $98, which is set to expire, as well as an annual adjustment for inflation. The measure exempts homeowners who are seniors and/or disabled. Please remember to exercise your right to vote today!

NOVEMBER 3, 2009: MEASURE G

To provide stable, local funds needed to protect teaching positions, and assure that Cupertino, Fremont, Homestead, Lynbrook, and Monta Vista High School students are prepared to successfully compete for college admission, shall the Fremont Union High School District replace its existing, expiring parcel tax with a tax at the same annual rate of $98 per parcel to be adjusted annually for inflation, with all funds benefitting local high schools, and offering an exemption to seniors and the disabled?

According to information for the 2007-2008 Fiscal Year from the California Dept of Education, following is some basic information on district funding dollars per student as compared to all of California as well as other nearby districts with high-performing academic scores.

Fremont Union High School District $9,255
Statewide Average for all High Schools $9,433

San Jose Unified $9,818
Los Gatos-Saratoga HS $11,264
Mountain View- Los Altos HS $12,699
Palo Alto Unified - $13,509

Be an informed voter and make your voice heard! Polls close tonight at 8:00 pm.

Sunday, November 1, 2009

West San Jose Cupertino Schools Lynbrook High Homes Update 11.01.09

West San Jose Cupertino Schools Lynbrook High Homes Update 11.01.09
by Michelle C. Carr-Crowe 408.252.8900
Hello, this is Michelle Carr Crowe with your Lynbrook High Homes Update for West San Jose with Cupertino Schools for 11.01.09. In Santa Clara Clara County (aka Silicon Valley), there are a variety of top-performing schools and school districts, many of which do not appear to follow logical boundaries, which is why we offer a variety of specialized market reports to help buyers like you learn more about opportunities, values and trends in the areas and schools you are most interested in. Regularly offered reports include:

West San Jose Cupertino Schools Lynbrook High Homes Update
Saratoga Cupertino Schools Lynbrook High Homes Update
Cupertino Monta Vista High Cupertino Schools Homes Update
Saratoga Monta Vista High Cupertino Schools Homes Update
Cupertino Cupertino High Cupertino Schools Homes Update
Santa Clara Cupertino High Cupertino Schools Homes Update
Sunnyvale Cupertino Schools Homes Update
Saratoga High Homes Update

GREAT NEWS: 4090 Yellowstone in West San Jose just closed & with 8 great above-asking-price offers. Now we have an opening for a New Seller Client-Who do you know who'd like to get this kind of RE$ult$? Just Call ... (408) 252-8900.
Now we have an opening for a New Seller Client-Who do you know who would like to get this kind of RE$ult$? Just Call (408) 252-8900.
SELLERS: Homes in Lynbrook are selling again this week there are three times as many PENDING single family homes as there are homes FOR SALE. (6 for sale vs. 19 pending). As the deadline looms for obtaining the $8K first time homebuyer tax credit, more buyers are pushing themselves to act now and take advantage of the free money while its available. I have *6* different pre-approved buyers who want to buy in the next 3-10 weeks but the homes they want and need arent on the market right now. Who do you know whos thinking of selling?
SELLERS: Click HERE to Find Out Home Values BEFORE You Sell


BUYERS: This week we have something really special! 1 3 Br Lynbrook TownHome & *3* separate 3 Br TownHome Opportunities in Monta Vista! All 3 are at least 3 Br and 2 Bath! All are in low-traffic locations, and feature 2-car garages, too. Please call 408.252.8900 to request a showing time. We must have your most current pre-approval letter on file prior to showing you can email it to info@michellejudycarr.com or fax it to 408.378.9056.
VIP BUYERS ONLY: All 3 Monta Vista TownHomes will have showings daily -Just Call (408) 252-8900 for times.
BUYERS: Click HERE to Find Out Home Prices BEFORE You Buy
This Weekend's Get RE$ult$ Team Special Events:
1 Lynbrook & 3 Monta Vista SNEAK PEEK PREVIEWS! This Weekend ONLY!
Grandmas Cottage Charmer in Willow Glen! Sun., Nov. 8th, 1:30-4:30 Free Gift & Treats!
2180 Cheryl Way, San Jose 95125 - REDUCED $$! Asking $612K OR BEST WRITTEN OFFER !!
Active Single Family Homes for sale in San Jose Lynbrook: 6


1033 Windsor St San Jose 6 4 30 4,956 $482 10,950 $2,388,800 6
1681 Provincetown Dr San Jose 4 3 155 2,800 $535.67 6,500 $1,499,888
1693 Provincetown Dr San Jose 5 3 55 2,701 $518.29 6,500 $1,399,888
1142 Johnson Av San Jose 5 2 74 1,904 $530.46 6,549 $1,010,000 51
1428 Yilufa Ct San Jose 4 4 (3/1) 41 2,309 $433.07 2,132 $999,950
1403 S Blaney Av San Jose 3 2 4 1,357 $713.99 6,180 $968,888 50


Summary Of Comparable Properties
Townhouse/Condo (Comm Int Dev)

Address City Beds Baths DOM LOE SqFt $/SqFt HOA List Price Age Sale Price

ACTIVE
1566 Duckett Wy #6 San Jose 3 4 (3/1) 44 1,740 $516.6 $285 $898,880
7250 Clarendon St San Jose 3 3 (2/1) 4 1,448 $531.77 $300 $770,000 30
7126 Clarendon St San Jose 3 3 (2/1) 23 1,448 $502.76 $300 $728,000 30
1082 Norfolk Dr San Jose 2 2 (1/1) 11 1,149 $598.78 $295 $688,000 37
7150 Rainbow Dr #21 San Jose 2 2 (1/1) 264 1,050 $476.14 $393 $499,950 45
7100 Rainbow Dr #7 San Jose 2 1 26 968 $485.54 $374 $470,000 45







To receive a FREE subscription to the full Lynbrook High Homes Update, including information on homes not yet on the open market, send an email request to subscribe to lynbrookhomes1@hotmail.com orinfo@michellejudycarr.com.
To see any of these homes, Just Call 408.252.8900.

SOLD Single Family: 3
1019 Corvette Dr San Jose 5 4 164 39 2,789 $493.73 6,348 $1,478,888 $1,377,000
1438 Bing Dr San Jose 3 2 10 24 1,430 $667.83 5,974 $948,000 49 $955,000
1005 N Avondale St San Jose 2 1 66 29 840 $1,041.67 10,200 $900,000 59 $875,000

SOLD Th/Condo: 1

1075 Whitebick Dr San Jose 3 3 (2/1) 7 23 1,532 $513.71 $295 $769,950 37 $787,000

Curious about home values and sales in your area? Wondering how prices are in the area youd like to move to? Simply click on the link below, fill in your current address and submit it to obtain a free, detailed market snapshot of whats happening right now in your area. To find out about values

Click Here to Find out Home Values in Your Area!

SNEAK PEEKS! 1 Lynbrook 3 Br-Sunday by Invitation Only! 3 Monta Vista 3 Br Homes! Showing Daily! RSVP to 408.252.8900!
2180 Cheryl, Willow Glen REDUCED! $612K!
4090 Yellowstone, West San Jose $OLD! Multiple Offers! Asking $599K $OLD! Multiple Offers $651K!

Thank you for your time in reading this. Aloha & God bless you!

New Short Sale/Bank-Owned Class & Tour: As a Certified Distressed Property Expert (CDPE), I bring specialized knowledge and experience to assist both sellers and buyers of distressed properties. Each month, we classes and tours of these types of Luxury Homes that are either bank-owned, in foreclosure or pre-foreclosure or short-sales. Next class & tour will be the first Thursday, of the month at 6 pm. Class & tour space is limited. RSVP to 408.252.8900 or send an email to FSSBO@michellejudycarr.com.

Did you know the First Time Buyer $8,000 Tax Credit only lasts til the government money runs out? And unless and until additional legislation is passed, you must close by Nov. 30th. Why wait? Grab YOUR $8,000 NOW! Call for Details - 408.252.8900!*

Be sure to ask for our FREE Buyers Guide to Lynbrook High Homes!

5567 Kimberly . 3 Br / 2 Ba SFH . $720K CLO$ED!
16345 Sanborn . 5 Br / 4.5 Ba SFH . CLO$ED! $1.410M!
136 N. White . 2 Br / 1 Ba SFH . SHORT SALE! $248K CLO$ED!
5516 Bollinger . 3 Br / 2 Ba SFH . $818K CLO$ED!

6111 CastleKnoll . 3 Br / 2.5 Ba TH . $781,250! CLO$ED!
EXCLUSIVE! 3 Br / 2 Ba TH . $739K By Appointment! EXCLUSIVE! Not on MLS!
$40K Down Possible + $729K FHA Loan* & You Could Move Into a Stunning 3 Br Beauty -
12779 Chaparral, Saratoga 3 Br / 3 Ba SFH . CLO$ED!
1264 Oak Knoll . 6 Br / 2.5 Ba SFH . For Rent $3600/mo. AVAILABLE NOW!
12779 Chaparral, Saratoga 3 Br / 3 Ba SFH . For Rent $3600/mo. AVAILABLE NOW!
(RENTED) EXCLUSIVE . 5 Br / 2 Ba SFH . GONE!
NEW Cupertino High Condo . 3 Br / 2 Ba For Rent $2700/Mo. -- AVAILABLE NOW!

Fabulous END UNIT! 2 Br / 2 Ba $620K CLO$ED!

So the Lynbrook Short Sale at Kimberly is CLOSED!!! Did you miss out? Are you curious about the price and terms of this or other homes? Just Call 408.252.8900!
We also recently closed on our Beautiful Mansion in the Making at 16345 Sanborn Road in Saratoga. Even in this challenging market, we succeeded in reaching the sellers goals. Asking price was $1.480M closing price was $1.410M! Thank you again to Mr. & Mrs. Iwamoto for the honor and privilege of helping you. Thank you also to Mr. & Mrs. Saito for introducing the Iwamoto Family to us.
If you have been watching the market and waiting for the bottom, be sure to check out my blog on
How Can You Tell If (and When) The Real Estate Market has Hit the Bottom?
I dont want to buy when the market is still going down
I want to wait and see if prices go down further before buying
After the market hits bottom, then Ill buy click here to read the rest

EXCLUSIVES + NEW HOMES COMING SOON
REMEMBER: For Get RE$ult$ Team Clients ONLY we have ADDITIONAL OPPORTUNITIES!
COMING SOON-Beautiful 4 Br / 2 Ba on Quiet St. & E-Z Walk to Lynbrook, San Jose

*All information deemed reliable but not guaranteed. Program details, terms & pricing may vary.
Just Call...408-252-8900!

The Lynbrook High Homes Update is published by, and is the exclusive property of, Michelle C. Carr-Crowe, for use by Get RE$ult$ Team clients. To receive a complimentary subscription, send an email to LBU@michellejudycarr.com.
All Universal Rights Reserved. No portion may be copied, truncated or distributed in any form without the express written permission of Michelle C. Carr-Crowe. All violators will be prosecuted to the full extent of the law.
Michelle C. Carr-Crowe leads the Get RE$ult$ Team, and is the Experienced Lynbrook and Cupertino Schools Expert, assisted by her excellent team. A licensee for over 20 years, she is a Multi-Million Dollar Producer. In addition to marketing and business development, she's an internationally-published freelance writer with over 1,000 articles published in publications such as the San Jose Mercury News, the San Jose Business Journal, San Jose Magazine, Cupertino Courier, the San Mateo Weekly Times and Inman Real Estate News Service.

Her designations include: Accredited Buyers Representative (ABR), Accredited Luxury Home Specialist (ALHS), Accredited Staging Professional (ASP), Certified Distressed Property Expert (CDPE), Property Marketing Expert (PME), Real Estate CyberSpace Specialist (RECS), Senior Real Estate Specialist (SRES), and one of less than 150 agents worldwide to achieve the Accredited Luxury Home Specialist (ALHS) designation. She has just completed specific coursework and testing as a Certified Distressed Property Expert (CDPE), to help clients dealing with foreclosures and pre-foreclosures, short sales, bank-owned homes and loan modifications. Visit her online at www.michellejudycarr.com or www.lynbrookhighhomes.com. For RE$ult$ Just Call (408) 252-8900 !!
Remember...Get RE$ult$ Team VIP Buyer Clients receive additional opportunities NOT available on MLS !! (See below for details).
Exclusive/private opportunities are by appointment.

**For VIP Buyers only-3 Exclusives!*Send Pre-Approval Letter to 408.378.9056!**
Call Michelle and the Get RE$ult$ Team at 408-252-8900 for Details & Showings!

Are You Anxious About the Market ??
Are You Wondering if You Should Sell ??
Are You Curious Whether It's Your Time to Buy ??

WONDERING WHAT TO DO??

Right now, lots of people feel uncertain--should we sell now? buy now? invest this year? We have the solution--a no-obligation opportunity for you to ask questions and get specific market data about the part of the market that applies to your situation--in a consultative (not sales) environment. We can connect over the phone, via e-mail or in person--whatever is most comfortable for you.
In today's competitive real estate market, timing, market knowledge and EXPERIENCE are absolutely critical. Be sure to work with EXPERTS and not amateurs (or real estate hobbyists). Many of the best homes (and exceptional values) are sold to pre-approved, ready-to-act Get RE$ult$ Team clients before they are ever advertised...many never go on MLS. HomeBuyers, you can beat other homebuyers to the hottest new homes for sale in San Jose with my New Listings Notification. We also have access to all of the up-to-date foreclosure info.

If you own real estate that you're thinking of selling, I and my team will gladly provide you with a FREE, No-Cost, No-Obligation Home Evaluation send an email to FreeCMA@michellejudycarr.com. If you want to own a home or invest in real estate, I and my team will gladly provide you with a FREE, No-Cost, No-Obligation Buying Power Analysis there are HUGE opportunities right now for savvy, solid investors send an email to FreeBPA@michellejudycarr.com.
Just Call (408) 252-8900 !!
FREE Consultation Sessions Available !!


*NEW TOOLS FOR CLIENTS*
Foreclosures? Auctions? Short Sales? Curious about where the true real estate bargains are at today? Did you know we have access to ALL foreclosure data NATIONWIDE?? Talk to Michelle or any of our Friendly & Knowledgeable Get RE$ult$ Team Consultants about these opportunities. Our goal is to Build Family Wealth thru Real Estate! Also, if you want to be on the Auctions & Foreclosure notice lists, send an email to foreclosures@sanjosebargainhomes.com.

Check out our *NEW* Website filled with FREE Reports, and Info to help Buyers, Sellers and Investors navigate today's unique market at www.michellecarrcrowe.com

When you want to talk about your options, remember we offer FREE 30-minute Market Analysis and Home Buying Power Analysis Consultations-Call us at 408.252.8900!
As always, many of the best homes (and values!) are available
through Michelle and the Get Re$ult$ Team!
Remember...ALWAYS check www.lynbrookhighhomes.com first!

Sellers ..
Our Team has 30 Ready-to-Act, Pre-approved Buyers!
If you're thinking of selling in the next 6-12 months, call 408.252.8900 now to see how we can help you maximize your investment. Be sure to ask about our Options-28 Days or FREE, Exclusive, Double Bargain-Bonus and Custom Home Selling Programs for Sellers. Check out our new site at www.michellecarrcrowe.com

Buyers
If you haven't yet been successful in purchasing a home, consider a new approach! We just work differently. Talk with one of our friendly and knowledgeable consultants about our 4 Different Buyer Strategy Programs-for homes both on the open market and OFF!