Homebuyer Tax Credits

In March of 2009, President Obama signed a law adding a new tax credit for certain repeat homebuyers of up to $6,500. Together with the existing first-time homebuyer’s tax credit of $8,000; the stimulus package of $11 billion was intended to boost housing sales. Credits were available to taxpayers who used the home as a principal residence for the following three consecutive years. To avail of these tax credits, the buyer is required to have the contract completed before May 1, 2010 and to close the transaction before July 1, 2010. One of the criteria for repeat home buyers is that he/she should have lived in one residence consecutively for five years of the preceding eight. The new law incorporated anti-abuse measures intended to stem fraud that had become endemic with the existing homebuyer tax credit. The definition of principal residence included a co-op apartment, condominium, attached or semi-attached townhouse; even a boat, motor home or trailer, provided it had eating, sleeping and toilet conveniences.

Dale Warfel knows Federal and State tax credits

Many homebuyers have bought homes in San Jose neighborhoods through the services of Dale Warfel a real estate agent who has worked the area for the last 13 years. Dale Warfel is both Real Estate Consultant and a Certified Short Sale Professional who specializes in the California Bay Area from where he hails. He also deals in foreclosed properties some of which are listed on his website www.dalewarfel.com. Dale Warfel is familiar with federal and state tax credits available to first-time or repeat homebuyers.

Mortgage Norms

Though housing prices have fallen, in most places they prevail alarmingly high when compared with rents and incomes. A bank norm for a safe mortgage is a maximum of 3 times the annual income of a buyer with a down payment of 20%. According to landlords, a safe mortgage runs to a maximum of 15 times the income from annual rent. However these norms are being grossly violated on the coasts. With a 3% down payment, buyers are borrowing as much as 6 times their annual income. Even with declining prices, sellers are quoting as much as 30 times the annual rent.

Dale Warfel’s Bay Area Expertise

Dale Warfel is a realtor who buys and sells housing properties in the Bay Area. He is an experienced real estate agent who guides a buyer or seller as to a fair price for a property given the uncertain times and the neighborhood. He can also advise a buyer on a safe and affordable mortgage. San Jose real estate can be confusing to the unfamiliar, since there are so many neighborhoods. Dale Warfel’s website www.dalewarfel.com contains comprehensive data on homes in San Jose communities. It offers a homeowner an expert assessment of the value of his property and a buyer can search San Jose MLS – and all this for free. Dale Warfel can be contacted at 408.624.6202.

The Housing Market in 2010

The collapse of the housing market is what triggered the current economic meltdown. Housing determines consumer confidence and bank behavior. Lack of consumer confidence reflects in a falling housing market, as the United States has been witness to. The present financial crisis is unlikely to improve till the housing market demonstrates a recovery. Where are housing prices headed, in this New Year? That is a question no one has an answer to. Broad economic indicators like price to rent and price to income ratios along with prevailing housing inventory all point to housing being far better placed than last year. But housing is still far from cheap. Worse, the foreclosure plan and first time homebuyer’s credit are due to expire during the current year. When that happens, there is every possibility of a negative impact on prices. It would hence be fair to assume that housing prices have not seen the bottom.

San Jose Housing

Despite the ups and downs of the economy, Dale Warfel, a real estate agent of many years standing has been buying and selling homes in San Jose and other surrounding neighborhoods. Dale Warfel knows the area intimately having worked in it for the last 13 years. He has established a reputation for reliability and integrity, which remains unshaken despite the vagaries of the uncertain housing climate. To buy or sell Bay Area real estate property, do contact Dale Warfel at 408.624.6202. His website www.dalewarfel.com is a fund of useful information for buyers and sellers.

Housing Forecast for California

California has been battered by 30% unemployment, increasing bankruptcies and an economy in shambles. The state is a classic example of the consequences of unethical mortgage lending practices tinged with Wall Street manipulation. Real Estate has survived through unprecedented financial losses. California has faced the worse economic meltdown since the Great Depression. Nonetheless, housing markets are poised for a faltering U-turn in some parts of the state.

A recent spurt in sales has slashed the inventory of homes in some neighborhoods of the San Francisco area. In the Bay Area, home prices will have to drop further before activity resumes to match the demand. The forecast for San Francisco is a 6.8% deflation for the year. The situation is likely to be worse in Silicon Valley and the Bay Area where housing deflation is projected to touch 8.9%.

A realtor from Santa Clara County

Dale Warfel is a real estate agent with 13 years of dedicated experience in the real estate market, who operates in buying and selling homes in San Jose. He has a number of foreclosed properties on his listings that are available at bargain prices. Dale Warfel is a Certified Short Sale Professional (CSP) who has come to the assistance of many a distressed homeowner facing imminent foreclosure. For information on available San Jose homes for sale or real estate properties in Santa Clara County and for assistance in short sale negotiations, call Dale Warfel at 408.624.6202 or email him through his website www.dalewarfel.com.

Shopping around for a Loan or Mortgage

Before you start looking for a home loan or mortgage, be clear in your mind on what exactly you’re looking for. This will save a lot of time chasing deals that wouldn’t suit your need. Here are some steps that will help:
Ask friends and acquaintances who have been through the mill for their experiences and recommendations.
Talk to banks, mortgage companies, credit unions and brokers. Study and compare the various offers.
Check out websites that tell you about thousands of loan deals from various lenders. You will be required to enter a few details of what you’re looking for and be directed to a list of lenders that meet your requirements.
Major Banks, Building Societies and Finance Companies have special offers. Details are available on their websites.
Loan deals are also available through brokers. Brokers search the market for the best deals saving you a lot of work.

Dale Warfel and Bay Area Properties

Dale Warfel is a Bay Area realtor backed by 13 years experience in buying and selling homes in San Jose and the surrounding neighborhoods. His website at www.dalewarfel.com is a fund of information for buyers and sellers. It also contains a rundown of the most popular areas in and around Almaden Valley and Willow Glen. Dale Warfel lists foreclosures and offers a free market analysis of your property. To contact him, please call 408.624.6202

Beautiful homes in San Jose

Looking for a home in San Jose? Do you want to buy a home in Urban Downtown or quiet tree lined streets? San Jose contains many unique and wonderful areas. This great city contains so many great areas; it may be hard to decide which San Jose neighborhood would be right for you. Consider for example The South San Jose area. The South San Jose area is roughly bordered by Story Road to the north, east of Monterey Highway, west of Hwy 101, and North of Blossom Hill Road.
South San Jose is close to shopping area (interesting point for ladies). This area is also a well communicated place, as it is connected by Cal Train. Home prices are quite moderate in this area; hence this area has become an affordable option for price conscious shoppers. There are many homes for sale available in San Jose. Dale Warfel who works as a realtor in California will definitely help you in acquiring beautiful and affordable homes in San Jose. Since he is a Silicon Valley native, his area knowledge, technical background, and negotiation skills will definitely benefit you, whether you are buying or selling your home. Just contact this realtor in California and forget all your worries regarding buying/selling property in San Jose. Dale Warfel’s consultative approach towards his clients always gives them the confidence that their interests are his highest priority.

For buying/selling homes in San Jose or the surrounding areas in Silicon Valley, call Dale Warfel at: 408.624.6202 or email him: dale@dalewarfel.com. You can also visit his website www.dalewarfel.com for more information. This is an opportunity you don’t want to miss.

Looking for a Home?

It's a great time to buy!! Don't just listen to me! In my Market Update section, there is a link to an interview by Diane Sawyer with Donald Trump. If you haven't heard it, I would definitely recommend you check it out. If you are considering moving up to a larger home or a better neighborhood, this could be the best time in a long time to make that move. I highly recommend that you should, when buying a home, hire your own inspectors to check out the condition of a property as part of your investigation of property condition. On a current transaction where I represent the buyer, 2 pest inspector hired by the seller and seller's agent missed a significant property defect, which was discovered by our inspector. When hiring inspection companies, or any service provider, get a referral from someone who has used the service provider in the past. I have a large list of such service providers. Let me know if I may be of assistance.

If you need a referral for a qualified service provider, chances are that I have someone in my database that can help. From a handyman to a general contractor, from a business coach to an insurance agent, I have an excellent list of resources. E-mail me at Dale@DaleWarfel.com and let me know what you need. Are you looking for a private, secure place to search for real estate? Would you like to know what's happening in your neighborhood? My MLS Advisor Service provides up to date information on listing activity in your area or in any Bay Area region you choose. Search for active listings, properties in escrow, price reductions, and much more. Take a test drive!

JUST LISTED! - Fantastic Value!! 2 Bed/2 Bath Townhome Near Downtown San Jose
2643 Senter Creek Court, San Jose
2 Bedrooms / 2 Bathrooms / Approx. 2078 Sq. Ft.

Tell all your friends...there are affordable homes in San Jose!! This cute and affordable 2 Bed/2 Bath Townhome features an Attached Garage. The Kitchen Appliances and Water Heater are all less than 2 yrs old. Private Patio off Dining Area. Spacious Bedrooms feature Cathedral Ceilings. Community features a beautiful pool and lots of trees. Excellent location, great for commuting, close to Downtown San Jose, new "The Plant" Shopping Center, and San Jose State University. Low HOA dues ($220/mo).

PRICE REDUCED! - Stunning Saratoga Home with Swimming Pool on Huge 10,200+ Sq. Ft. Lot
12874 Lantana Avenue, Saratoga
4 Bedrooms / 3 Bathrooms / Approx. 2078 Sq. Ft.

If you have been dreaming of a gorgeous home with a Saratoga address, this one could be for you. Sitting on a huge 10,200+ sq. ft lot, this lovely 4 bedroom, 3 Bath home has the character and charm you would expect. Situated on a quiet street, this beautiful home offers a west facing entrance, and features an updated kitchen and master bath, gleaming hardwood floors, and spacious living and family rooms.In the mornings, open the French doors from your kitchen onto the large, private rustic brick patio, where you can enjoy the fresh morning air while sipping your morning coffee and reading the paper or a good book. After work, take a load off by taking a dip in the large swimming pool. If you work from home (or have extra guests), you can utilize the extra living space in the back of the oversized 2-car detached garage featuring an additional two rooms and another full bath (these two rooms and bath are not included in the square footage of the home).The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, please call or e-mail me at Dale@DaleWarfel.com.