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TODAYS LOAN RATES - 1/12/2009

Monday, January 12, 2009
by The Schaller Family

Todays mortgage loan rates are presented for you.  Should you have questions regarding real estate  or suggestions for mortgage excellent mortgage people in our area, please CALL us at 800-660-0903 or email us at aimee@schallers.net

 

We’re here to be of service to you!

 

LARGER LOAN AMOUNTS IN ELEGIBLE AREAS.  In federally designated metropolitan areas, qualified customers may be able to borrow up to $625,500 on conforming, or FHA loans without paying the typical higher interest rates on jumbo loan amounts.  Contact a local home mortgage specialist to determine your eligibility for a larger amount.

Product Interest Rate APR
Conforming1 Loans
40-Year Fixed 7.250% 7.462%
30-Year Fixed 4.750% 4.960%
20-Year Fixed 5.000% 5.289%
15-Year Fixed 4.750% 5.115%
5-Year ARM 4.875% 4.527%
Jumbo Loans – Amounts that exceed conforming loan limits1
30-Year Fixed 7.750% 7.913%
15-Year Fixed 7.000% 7.253%
10-Year ARM 7.625% 6.595%
5-Year ARM 6.125% 4.936%
FHA – loan limits vary by county.
30-Year Fixed 5.000% 5.645%

MORE ENTHUSIASM FOR SOLAR POWER - 1/12/2009

Monday, January 12, 2009
by The Schaller Family

            Buyers are showing a clear enthusiasm for newly-built homes that have solar power equipment installed. Some believe this is the boost that solar power systems need to start selling in more significant quantities.
            In a slower real estate market, homebuilders are especially sensitive to incentives that catch potential buyers’ interest. Buyers have been showing up at new home open houses where the homes feature solar power. Part of the response is curiosity; part of it is a growing desire to decrease energy costs in their new homes.
            Retrofitting a home with solar power equipment is costly, of course, even though it holds out the eventual promise of paying for itself (often in roughly 20 years) and providing the homeowner with the pleasure of selling electricity back to the local utilities. In many cases, the cost of purchasing of solar power equipment is reduced by local, state and federal energy-saving programs.
            The possibility of buying a new home that is fully equipped for solar power, though, lessens the sense that the buyer is paying a premium for the equipment. Some builders are using the equipment much as they use incentives like free landscaping—and buyers are responding with great interest. For help with real estate call Lil at 530-550-5007 and visit our web site at www.alltruckeehomes.com.

The Schaller Family Realtors® are Associates of Dickson Realty.

RAILYARD PROJECT UPDATE - 1/10/2009

Friday, January 09, 2009
by The Schaller Family

Master Plan

The purpose of the Truckee Railyard Master Plan is to capture and describe the Town’s vision for the Railyard Area and to guide its future redevelopment. This Master Plan describes the scale and character of development envisioned for the Railyard Area and includes development standards and design guidelines to help ensure that future development is consistent with the Town’s vision for the area.

The Railyard will be redeveloped with an eclectic mix of building types and uses within an attractive, pedestrian-oriented neighborhood. Development will extend easterly from the Downtown Core. The highest development intensity will occur immediately adjacent to the Downtown Core and then decrease as development extends to the north and east. Three distinct Districts will guide and shape redevelopment of the Master Plan Area:

The Downtown Extension (DE) District will be a physical extension of the commercial shops, restaurants and lodging now located along Commercial Row. The DE District will also provide new housing, recreation and civic uses in Downtown. The DE District will have the greatest intensity of development of the three Districts.

The Industrial Heritage (IH) District will contain a mix of uses supporting a community of local business people, artisans, and entrepreneurs. Multi-family residential, live-in work and work-live units and commercial development will occur in the IH district. Development in the IH District will reflect historic industrial character of uses that once existed on the site including the Lumber Mill and railyard operations.

The Trout Creek (TC) District will provide a mix of multi-family and single-family residential homes with connections to the Trout Creek Greenway. The TC District will have the lowest density of the three Districts.

 

Prined from Sierra Sun January 9,2009

INSTALLMENT SALE 1/8/2009

Thursday, January 08, 2009
by The Schaller Family



            One of the easiest ways to loan money--because you don't have to take any money out of your pocket and give it to someone else--is to sell your investment property in an installment sale. Consider selling your investment property with some of the buyer's financing covered by "seller financing"--a note and second TD that provides the seller with a stream of payments over a set number of years ... and also provides potentially valuable tax savings.
             Suppose you have owned a group of single family residences that you have been renting for several years, and you want to generate some cash by selling one or more of the homes. What you don't want, however, is to create a huge tax liability in the year of sale.
            By taking back part of the financing in the sale of the home or homes, you effectively spread the tax liability for capital gains taxes over the term of the carry-back financing. You not only have an income stream over three, five, seven or more years, you also spread your tax liability over that term.
            At the same time, any home offering seller financing is especially attractive to buyers. And the terms of that financing are entirely negotiable between buyer and seller, creating the potential for a win-win transaction.
            Given these details, you can see how important it is to consult with your tax advisor or accountant before you buy or sell real estate. For assistance in any real estate transaction,    call Lil at 530-550-5007 and visit our web site at www.alltruckeehomes.com.

The Schaller Family Realtors® are Associates of Dickson Realty

SCHALLER PIC OF THE WEEK - $300,00O-$500,000 - 1-7-2009

Wednesday, January 07, 2009
by The Schaller Family
Great views of Northstar and the Carson Range! This wonderful family home has been immaculately maintained by the owners. Lots of remodeling and upgrading throughout. Space for everyone with a bonus lower level family room and separate home office. A huge country kitchen and sunny living area is surrounded with windows for a nice open feeling. Located in a nice quiet neighborhood of Glenshire.
$399,000 
MLS# 2803512
15468 Crown Circle
Truckee, CA 96161
Area: Truckee Ca
Subdivision: Devonshire Est
Type: Single Family
Beds: 3
Baths: 2.0
Square Feet: 2152
Garage: 2
Year Built: 1985
Setting: Street
Acreage Range: .26 - .5
No. of Acres: n/a
View: Mountain
Estimated Payment: $1,965.37*

SCHALLER PIC OF THE WEEK $250,000 - $300,000 1/6/2009

Tuesday, January 06, 2009
by The Schaller Family
 
$299,000
 
This adorable home is situated on a lovely oversized lot in a quiet neighborhood of Glenshire. Enjoy the beautiful spacious back deck overlooking a fully fenced backyard with 2 bonus storage sheds. The inside has been lovingly maintained; warm and comfortable with a gas stove in the living room and hardwood flooring throughout. The country kitchen has a huge pantry with all appliances included. New furnace in 2006. This could be a wonderful starter home at a fantastic price.
For Additional Information Contact:
Dickson Realty
(530) 587-7444  Office Phone
(530) 550-5009  Agent's Phone
Schaller, Kane
Kane@schallers.net

SCHALLER PIC OF THE WEEK $1,000,000 UP 1/6/2009

Tuesday, January 06, 2009
by The Schaller Family
 
 
 
1 of 9
VIEW
Panoramic, Mountain, Golf
TOPOGRAPH
Y
Downslope
ROOF
Composition
FOUNDATION
Perim Concrete
GARAGE/
PARKING
Attached, Oversized
APPLIANCES
Range, Oven, Microwave,
Disposal, Dishwasher,
Compact, Refrigerator,
Washer, Dryer
FIREPLACE
Living Room, Master Bedroom,
Gas Fireplace
HEATING
Natural Gas
FLOOR
COVERINGS
Carpet, Wood, Tile
SEWER
Utility District
LAUNDRY
Room
GAS
Natural
WATER
Utility District
DECKS
3 or more
BONUS
ROOMS
Loft, Formal Dining, Breakfast
Room, Air Lock Entry
OTHER
Pantry, Central Vacuum, High
Ceilings
11048 K T Court
Truckee
$1,095,000
MLS #
Status
ACTIVE
# of Bedrooms
4
# of Baths
4.5
Garage
Three
Square Feet
3590
Price/Sq Feet
$305.01
Year Built
1991
Days On Market
228

 

 

 

 

 

 

 

 

5 REASONS TO TAKE HEART IN 2009 - 1/6/2009

Tuesday, January 06, 2009
by The Schaller Family

 

1.     CHEAP MORTGAGE RATES

         There are a number of reasons that give us hope that mortgage rates  will remain low for at least the near future.  The threat of inflation is easing.  Fannie May and Freddie Mac are slated to get back into business.  Government Bail out should start taking affect. Major banks should start lending again, albeit on a more sound basis.

 2.     LOWER PRICES

    Home prices nationally have fallen 21 percent since the 2006 peak while in some markets, such as Phoenix and Las Vegas close to 30 percent over the last year alone.  These lower home prices will start to stimulate sales which, in the end will begin to mop up excess inventory.

3.     FEWER HOUSING STARTS 

           Builders faced with the prospect of their homes not selling and coming into direct competition with current inventories of homes, most selling at large discounts, are deciding not to build at this time.  Thus, not adding to already heavy inventories.

 4.     OBAMA STIMULUS

           In an attempt to boost the economy, the president elect has announced plans for a massive federal spending program.  The initiative is expected to put between $500 Billion and I trillion dollars into infrastructure repair and other projects in an effort to keep Americans working.  Should this program succeed  in keeping unemployment from skyrocketing and keeping the economic contraction from hitting the dourest projections, certain housing sectors may firm up quicker than expected, says Susan Wachter, a professor of Real Estate at the Pennsylvania’s Whorton School of Business. 

 5.     CREDIT PROGRAMS

           It will be difficult for the housing market to become healthy  until the credit markets begin to function again.  The federal  government has already taken a number of steps to do just that.  The federal Reserve has slashed benchmark interest rates to between 0 and 0.25 percent and committed to 2 trillion dollars in new lending    programs.  Meanwhile, Congress has passed a $700 Billion bailout  while the treasury department has already injected a chunk of that money into banks of all sorts.  While these efforts have as yet not  brought the credit markets back to health, they have produced the easing of interbank  lending.  This could signal  the easing of certain credit  markets.  If,  “for whatever reason” this should lead to a broader recovery of the credit markets, the economy and housing demand that comes with the growth could turn around quicker than expected.

     

TODAYS LOAN RATES - 1/5/2009

Monday, January 05, 2009
by The Schaller Family
 

Todays mortgage loan rates are presented for your interest.  Should you have questions regarding real estate  or, suggestions for excellent mortgage people specializing in our area, please CALL US at 800-660-0903 or email us at aimee@schallers.net

 

We’re here to be of service to you!

____________________________________

 

LARGER LOAN AMOUNTS IN ELEGIBLE AREAS.  In federally designated metropolitan areas, qualified customers may be able to borrow up to $625,500 on conforming, or FHA loans without paying the typical higher interest rates on jumbo loan amounts.  Contact our home mortgage specialist to determine your eligibility for a larger amount.

Product Interest Rate APR
Conforming1 Loans
40-Year Fixed 7.250% 7.462%
30-Year Fixed 5.500% 5.719%
20-Year Fixed 5.750% 6.048%
15-Year Fixed 5.125% 5.494%
5-Year ARM 6.375% 5.356%
Jumbo Loans – Amounts that exceed conforming loan limits1
30-Year Fixed 7.875% 8.040%
15-Year Fixed 6.875% 7.127%
10-Year ARM 7.750% 6.814%
5-Year ARM 6.125% 5.178%
FHA – loan limits vary by county.
30-Year Fixed 6.000% 6.696%

RECEIVE A PROPERTY TAX REDUCTION

Saturday, January 03, 2009
by The Schaller Family

 

 

          With the current decline of home prices in the 20% to 30% range, there may be a way to have your present home value reflect the current reduction in value and to have your property reassessed at a lower rate and thus receive a commensurate property tax reduction.

 

          In speaking with the Nevada County Assessor’s office, it seems like a fairly simple process.  Nevada county Assessors Office tells me that they  are reducing some of the property values already to reflect lowered values.  The biggest reductions will occur with people who have purchased homes in the last several years. 

 

          In order to see where your property lies in this situation, you would call the Nevada County Assessor’s office at 530-265-1232.  They are set up to make it easy on the home owners to get this information and have the information at their finger tips.   They can tell you what the current value of your home  and what you paid for the property and if you are likely to have an assessed value credit coming.

 

          While this information is directed at Nevada County, other counties probably have a similar procedure in place.

 

 We’re here to be of service to your.

 

Schaller, Family Real Estate  800-660-0903

 

Don Schaller, broker/owner Dickson Realty, Truckee

Displaying blog entries 561-570 of 623