Tax writeoffs that help homeowners - MSN Real Estate

Real Estate is still a good investment, and you get write offs too!



The good news is you can deduct many home-related expenses. These tax breaks are available for any abode -- mobile home, single-family residence, town house, condominium or cooperative apartment.



Tax writeoffs that help homeowners - MSN Real Estate:



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It time to buy a home! Call Joan Wilson at 760-757-3468 today to start looking at the best on the market.

VA Minimum Property Standards Guide

Minimum Property Standards Guide:
Is That Listing Ready for a VA Buyer?

Below is a list of VA Minimum Property Requirements (MPRs) 
for existing homes that can be used as a screening checklist.
 

o    General:  Must be free of hazards that affect the health and safety of occupants, structural soundness of property, or impair the use and enjoyment of property. o    Handrails required on stairs with 3 or more risers. o    Severe tripping hazards must be remedied (i.e., major buckling of concrete). o    25% maximum non-residential use. o    Mechanical systems must be adequate, safe, and protected from elements. o    Conventional heating system must be present in all homes to maintain temperature of 50 degrees in areas with plumbing (i.e., wood stove cannot be only heat source). o    Solar systems for water and space heating must have reliable backup system. o    Roof must have 2 years of remaining life and no more than 3 layers of shingles. o    Crawlspace must have adequate access, be clear of debris and be properly vented.  Must have access to ductwork and plumbing. o    Excessive dampness or ponding of water in crawlspace must be corrected. o    Natural ventilation of attics and crawl spaces must be provided. o    Laundry and storage space may be shared in a 2-4 unit. o    Rear yard must have access.  Row units may be by means of alley, easement, or passage through subject dwelling. o    Private streets must have permanent easement and be maintained by HOA or maintenance agreement.

o    Streets must have all-weather surface. o    Living unit must have its own access. o    Unit utilities may not pass over, under or through another living unit unless there is legal and permanent access for maintenance and repair. o    Must be space between buildings for maintenance of exterior walls. o    Termite cert required.  Treatment required if necessary. o    Lot must drain away from dwelling. o    Exterior wood must be protected from elements.  Chipped or peeling paint must be remedied. o    Properties built prior to 1978 must have all defective paint surfaces remedied both interior and exterior. o    Property cannot be located within a high-pressure gas or petroleum easement.  If located within 220 yards special certifications will be required. o    Property cannot be located within a high-voltage electric line easement. o    Connection to public water/sewer disposal systems is only required when mandated by building, planning or health authorities. o    Private water systems must be tested. o    Water treatment systems are allowed only if public water is not available and water supply is from aquifer confirmed uncontaminated by health department. o    Shared wells must be adequate and have maintenance and well-sharing agreements.

February 2014 is a Seller's market in San Diego County!

February 2014 is a Seller's market in San Diego County! The number of for sale listings was up 38.4% from one year earlier and up 2.3% from previous month. The number of sold listings decreased 16.3% year over year and increased 1.2% month over month. The number of under contract listings was up

16.5% comparing to previous month and up 0.1% comparing to previous year. The Months of Inventory based on Closed Sales is 2.9, up 65.3% from previous year. 

The Average Sold Price per Square Footage was down 3.1% comparing to previous month and up 18.8% comparing to last year. The Median Sold Price increased by 2% from last month. The Average Sold Price also decreased by 4.9% from last month. Based on the 6 month trend, the Average Sold Price trend is "Depreciating" and the Median Sold Price trend is "Neutral". 

The Average Days on Market showed a neutral trend, a decrease of 23.9% comparing to previous year. The ratio of Sold Price vs. Original List Price is 94%, a decrease of 2.1% comparing to previous year.