New Homes Sale Biggest Monthly Jump in 47 Years, Thanks to the $8000..

New home sales rose 27 percent in March, bouncing off February's record low.

The rise in new home sales was seen nationwide. Sales grew a whopping 44 percent in the South and 36 percent in the Northeast. They also rose about 6 percent in the West and 3 percent in the Midwest.

Major homebuilders like Lennar, Hovnanian and MDC. are aggressively promoting countdowns to April 30 or "last chance" sales on their websites.

Still, new home sales are down 70 percent from their peak in July 2005, and some analysts predict they will sink back to the winter's dismal levels after the tax credit runs out.

No More State Tax on Forgiven Debt

Enacted into law yesterday, Distressed homeowners no longer have to pay California state income tax on debt forgiven in a short sale, foreclosure, or loan modification. 这么做，short sale更有持无恐了。

Andalusia new release

Plan 1: 630K

Plan 2:

LOT 1002 665K 7244 sf
LOT 1004 658K 6889 sf
LOT 1008 667K 7074 sf
LOT 1012 663K 6777 sf

Plan 3:
LOT 1006 668K 7032 sf
LOT 1011 677K 7044 sf

Plan 4:

LOT 1001 701K 7125 sf
LOT 1005 693K 6827 sf
LOT 1009 701K 8372 sf

92130

现在有96个房子pending, 其中有22个是7天之内pending的。 看房，写offer, negotiation, 无一不要眼快，手快，心快. 真有种让人觉得“一夜回到旧社会"的感觉啊。

卖掉北京城可以买下半个美国

北京全市土地面积16410平方公里。其中平原面积6338平方公里，山区面积10072平方公里。即使考虑到山区的综合利用率低，不算计价范围以内，理论上北京平原地区土地总市值为22万亿人民币，相当于美国地价总值的1/2以上，买下半个美国尚有余钱。

当然，以上预测并没有考虑到在实际市场环境下，6338平方公里土地推出市场，对地价的打压作用，推论并不十分科学严谨
　　
　　过去的10年，政府在社会保障方面的投入远远不足，“两会”之后，仓促间推出“住房双轨制”，北京市政府计划50%的新增用地投向社会保障性住房，在没有土地增量的情况下，强行划走商品房用地份额，无视中产阶层以及“城市新移民”的刚性需求，只能让房价越涨越高，越来越离谱。

BofA to start reducing mortgage principal (AP)

Bank of America Corp., the largest mortgage servicer in the country, said Wednesday it will forgive up to 30 percent of some customers' total mortgage balances. The homeowners must have missed at least two months of mortgage payments and owe at least 20 percent more than their home is currently worth. The borrowers must also qualify for the Obama administration's $75 billion mortgage loan modification program.
According to new plan, which begins in May, Bank of America will first offer to set aside a portion of the principal balance, interest free. That principal can be forgiven over five years, if homeowners don't miss any payments. The maximum decrease in principal will be 30 percent.

Good news! Gov. Schwarzenegger signed Assembly Bill 183, the Homebuyer Tax Credit legislation, into law

The eligible taxpayer who purchases a qualified personal residence on and after May 1, 2010, and on or before Dec. 31, 2010, or who purchases a qualified principal residence on and after Dec. 31, 2010, and before Aug. 1, 2011, pursuant to an enforceable contract executed on or before Dec. 31, 2010, will be able to take the allowed tax credit. The credit is equal to the lesser of 5 percent of the purchase price or $10,000, in equal installments over three consecutive years. Under AB 183, purchasers will be required to live in the home for at least two years or forfeit the credit (i.e., repay it to the state).

Ashley Falls Closing?

Several clients brought it up to me that they heard the rumor says that Ashley Falls will be closing. I did some research...

http://www.signonsandiego.com/news/2009/aug/28/parents-challenge-idea-close-campus/

As for Ashley Falls closing , that was an issue last year – but, as far as I know, it has been resolved. The Del Mar School district announced several months ago that Ashley Falls is not going to be shut down for several reasons. One of the reasons that stood out was because there were too many legal ramifications because of the Mello-Roos that is paid by all of the homeowners in the neighborhoods surrounding Ashley Falls. We had it was a remote possibility that Ashley Falls could be closing as a disclosure last summer but when the Del Mar School district made an announcement before the end of the year, that Ashley Falls school would not be closed – the disclosure was no longer needed. If you are in any doubt, I recommend that you call the Del Mar School district to verify what I am saying.

Testimonial

最近太猛了，2周close了5个房子。好在买到房子的同学们都很开心。 我没有要求任何人给我写testimonial, 但是今天早上收到一个客户的email, that makes my day :)

Hi Connie

We moved in the house on Sunday after a simple upgrade. We have been busy on unpacking all these days, but there are still some boxes in the garage. We also bought some furnitures, and we are all very happy with our new home, so thank you very much for helping us settle down such a great place.

Again, we really appreciate your excellent service.

Best,

Ming @ Scripps Ranch

Facts about Home Buyer Credit

First-time home buyer tax credit upto $8000 or 10% of purchase price is available for contracts by April 30, 2010 (close by June 30, 2010). Income limits are $125k for singles, $225k for couples.

A new $6500 long-time home buyer credit is available for home buyers who have owned a principal home for 5 years and now is upgrading. Contract before April 30, 2010. Income limits are the same as above.

To claim the credit, a copy of Form HUD-1, settlement statement are required. For new construction, if settlement statement is not available, a certificate of occupancy is required. For long-time home buyers, in addition to above documents, mortgage statement/property tax documents/home insurance etc showing 5 years consecutive residence are required.

To be considered as first-time buyer, you either never owned a home as principle residence or didnot have a principle residence during the last 3 years.

楼市春晚

道尽房奴辛酸

虽然是讲的国内，但是心有戚戚。 很快就可能被河蟹了。 赶快看看吧。

Manzanita Trail new release on March 6

Lot 49 = 875K 3B

Lot 51 = 865K 3A

Lot 48 = 899K 4AR

Lot 50 = 915K 4DR

Lot 52 = 907K 4BR

All sold on the release date.

FIRPTA

1980年之前，外国公司/人在美国投资房地产出售获利之后，因为人不在美国，也不报任何所得税(Capital Gain or Business income)，美国国家税务局(IRS)也没有办法追缴，所以，就制定了对于外国人在美国进行房地产投资方面的税务规定，英文就是Foreign Investment in Real Property Tax Act (FIRPTA) 。

FIRPTA主要内容: 对于符合IRS定义的"外国人"和"外国公司"在出售房地产是不管是否盈利均预扣成交价的10%(可能从2007年有更加详细的百分比)作为美国联邦所得税款,这笔钱是由过户公司扣留然后交给美国国家税务局IRS.在年底,卖主要如实申报必要的税收,IRS根据报税结果,再退还多余的部分,如果年终,卖主没有报税,IRS就扣留这笔款.
如果你没有赚钱,IRS就不会让你交任何税,这要看你的报税的情况决定.

IRS定义的外国人是:
一年中在美国居住的时间没有超过183天的外国人.所以,一个非美国公民,非美国永久居民,如果是在长期居住的,诸如工作签证(H1)的外国公民 ,也不是IRS所定义的外国人.

如果属于IRS定义中的外国人，自住的房子：业主是自住(没有住过半年) ，但出售时价格不超过30万美元，就与正常的交易一样，过户公司就不会预扣10%的成交价。但是有一个条件，就是买主买了之后也是自住的。

所以，这个豁免有三个条件，必须同时满足：买主，卖主均是自住(不是投资物业)，成交价不超过30万美元。

如果不属于IRS豁免的范围，那么在过户时就要被过户公司预扣10%的成交价。如果有获利，获利部分要交纳所得税，税率至少21%左右(因为税法可能有变化，只能给出大概范围)。如何是超过一年的投资的话，税率就会低一些，估计是15%左右。



比如加州的外国人(外州人)房地产投资的税法就很值得注意。加州的法律要求，凡不是加州的居民，这当然包括外国人，在卖房地产时要被预扣3.33%成交价来纳税，当然多余的本分会退回给卖主。

New release of Manzanita Trail -- Price increase of 50K

Lot 49 3B 875
Lot 51 3A 865
Lot 48 4A 899
Lot 50 4D 915
Lot 52 4B 907

Sold in 10 minutes.

Without Tax Credits, Housing Market Is Flat

The housing market is flat, with 2010 home sales likely to be equal to last year’s if you subtract the effect of the tax credits, says Tom Lawler, noted housing economist.

He believes that until more jobs are created, housing is likely to remain in the doldrums, but not in free fall. A significant recovery will depend on interest rates remaining affordable and limiting the number of homes in foreclosure, as well as rising employment, he says.

Highland Village

新的Townhouse小区，位于Torrey Hill.

一共167家。 1274-2069 sf.

HOA is 268/ month for now. MR在60-85之间。

第一天开盘人非常的多。 应该未来是CV又一popular的小区。

关于water pipes

很多买家看房子的时候都会问，这个房子的水管是铜管还是PB的。

一般来说，Polybutylene (简称PB)是一种类似塑料的材料，以其低廉的造价和容易安装，广泛的应用在于1978年到1995年左右建造的房子。 PB的水管有蓝色的，灰色的，还有黑色的。

怎么能看出来房子用的是铜管还是PB， 很多的home inspector也都会推辞让你去找专业的水管工(plumper）来看。 有一些signs你可以观察来确定水管的材质：

Exterior - Polybutylene underground water mains are usually blue, but may be gray or black (do not confuse black poly with polyethelene pipe). It is usually 1/2" or 1" in diameter, and it may be found entering your home through the basement wall or floor, concrete slab or coming up through your crawlspace; frequently it enters the home near the water heater. Your main shutoff valve is attached to the end of the water main. Also, you should check at the water meter that is located at the street, near the city water main. It is wise to check at both ends of the pipe because we have found cases where copper pipe enters the home, and poly pipe is at the water meter. Obviously, both pipes were used and connected somewhere underground.

Interior - Polybutylene used inside your home can be found near the water heater, running across the ceiling in unfinished basements, and coming out of the walls to feed sinks and toilets. Warning: In some regions of the country plumbers used copper "stub outs" where the pipe exits a wall to feed a fixture, so seeing copper here does not mean that you do not have poly. Any gray plastic pipe could be poly. Look at pipes near the water heater. See what kind of pipe runs across the ceiling in an unfinished basement. Check the pipe that comes out of walls to feed sinks and toilets. Many properties have a combination of copper and poly pipes.

为什么说PB管不好？

因为水的PH值可能偏酸或者偏碱，然后很多地方的水里含有oxidants， 会和PB管起一些反应，最后引起管子变脆。 整个水管系统就会慢慢的损坏。

买房子的时候，建议问清楚卖家和listing agent, 水管是不是PB的。 然后可以检查sink 下面，around 热水器， 看有没有灰色，黑色和蓝色的管子。 如果你不sure, ask your home inspector or plumber.

Earthquakes in Carmel Valley and Sorrento Valley

Earthquakes in Carmel Valley and Sorrento Valley：San Diego Fault Lines (Source: USGS.GOV)


Earthquakes in Carmel Valley and Sorrento Valley.

Testimonial: Lago Di Grata

Connie, I and my husband very enjoy working with you. Thanks for being our agent in this difficult market. You were always available and interested in our concerns.We were impressed with your experience, ethics, professionalism, knowledge of Carmel Valley, and marketing research. We will recommed to our friends for buying or selling a house.

WSJ: No Exit in Sight for US as Fannie, Freddie Flail

Fannie and Freddie remain troubled wards of the state, with no blueprints for the future and no clear exit strategy for the government. Nearly a year and a half after the outbreak of the global economic crisis, many of the problems that contributed to it haven't yet been tamed. On Dec. 24, Treasury said there would be no limit to the taxpayer money it was willing to deploy over the next three years to keep the two companies afloat, doing away with the previous limit of $200 billion per company. As mortgage delinquencies rise, Fannie and Freddie are required to set aside more capital to cover anticipated losses. Each quarter, if their revenues are insufficient to meet those financial needs, the Treasury has to kick in more money.

Fannie's CEO Mr. Haldeman stated recently that they were "fortunate" to have such a clear mission—the government's foreclosure-prevention drive. "We're doing what's best for the country," he told them. "We're making decisions on [loan modifications] and other issues, without being guided solely by profitability.

Together with the Federal Housing Administration, they fund 9 out 10 American mortgages.