Real Estate Information Archive


Displaying blog entries 1-3 of 3

How to Claim Your Home Buyers Tax Credit

by Carol or Jim Chamberlain

The IRS has clarified what documentation is needed to claim your first time buyers and move-up buyers tax credit.

You are still required to fill out a 5405 form but is NOT requiring all buyers and sellers to sign the HUD-1 settlement statement. If you live in an area where it isn't common for the all parties to sign the HUD-1 its OK.

The IRS says: " in areas where signatures are not required on the settlement document, the IRS has clarified that it will accept a settlement statement if it is completed and valid according to local law. The IRS encourages those buyers to sign the settlement statement prior to attaching it to the tax return."

So if you live in Southern California where it’s uncommon for buyers and sellers to sign the HUD-1 make sure you the buyer(s) sign your HUD-1 statement before mailing it in with your tax return.

If you are a move up buyer or repeat buyer, the IRS is requiring documentation that proves you lived in your last home 5 of the last 8 years. Items the IRS will consider as proof are: tax records, mortgage interest statements, and home owner’s insurance records.

January 2010 Houses Values Up

by Carol or Jim Chamberlain

Median prices in So Cal are on the rise compared to a year ago January 2009. The Orange County and Los Angeles home sales markets improved significantly while Riverside, San Bernardino, and Ventura took a hit again.  Orange County was up by 3.4% in sales over January of last year for a total of 1,867 home sales. The Big new is prices rose 15.4% over January 2009 in Orange County. San Bernardino County is the only one where prices in homes dropped another 7.4% while prices remained the same in Riverside County with no gain over last year.  Over all the six counties home prices rose 8.6% over January of last year.

Now if you have been sitting on the fence to take advantage of the bottom of the market you better find a home NOW! With all the counties experiencing increases in home values except in San Bernardino County waiting for the right moment is over.

The $8,000.00 tax credit runs out the end of April 2010.

Printable Coupons to Save Money

by Carol or Jim Chamberlain

In our current economic time we are all trying to stretch our dollars. It has been a couple of tough years for most people with job layoffs, companies closing, or having your hours cut back.

My wife for years has saved money by cutting coupons out of the newspaper, PennySaver,  grocery coupon mailers, and magazines to name a few. It’s a game to her and I used to think it was a waste of time, until I realized just how much money she was saving us each month. Coupons are now avaliable on the internet and here is a list of her favorite sites for printable coupons.

Retail Me Not, My Coupons, Hey Its Free, Promotional Codes, Coupon Barn, Slick Deals, Coupons. Just in January 2010 my wife saved $321.45.

Just found another great coupon site

Displaying blog entries 1-3 of 3

Contact Information

Photo of Carol and Jim   Real Estate
Carol and Jim
Preferred Home Brokers
3230 E Imperial Hwy, Ste 125
Brea CA 92821

Carol & Jim Chamberlain 714-726-3166 or 714-726-3144                  "Yes, We Can Be In Two Places At Once!"                                              BRE Lic Numbers: 00912962, 01015143