Recent content by IrvineMom_IHB

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    How to make a buck off short sales

    oc_fliptrack - you are correct. BUT, the IRS does not get a 1099's is when the buyer bought the home at inflated price and 100% financing, and the buyer recieved illegal cash back from the seller, which is unaccounted for, which technically is an income for the buyer. Here is the problem, the...
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    What do you right now with a Half-Million Dollars in Irvine???

    ISB - How much time left do you have with the exchange? I am not familiar with Ashton Green. Turtle Ridge is good bet. Stay clear of 3 stories though - harder to rent.
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    NAR and Fed numbers out for Feb: what does it mean for OC/Irvine?

    Yes, I am noticing homes are selling quickly (nice ones though). Inventory is very limited (not much to choose from). The buying season for 2006 never came. I am thinking these are the buyers from 2006. And renters, they are coming in from other states. LOL.
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    What do you right now with a Half-Million Dollars in Irvine???

    <p>ISB - I am no tax expert but I read somewhere there are 6 hits for the long term tax. I can not remember all; however I do have 4 main ones:</p> <p>1. 15% for Federal</p> <p>2. 11% for State Income tax (no long term, just straight)</p> <p>3. Alternative minimum tax since your income...
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    1 Warranty is set to expire this week, what to look for?

    I would say 10 yr warranty. I just had the builder reroute my broken air duct at no cost after 6 years of ownership.
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    What do you right now with a Half-Million Dollars in Irvine???

    I would take the long term cap gains and done with the 1031 and be free! Either way you lose money through tax or through depreciation. Now what if the markets bottom already!!!! Also, are you going to burn the money that you net, or are you going to put it in stocks? ... this option is also...
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    Woodbury - Stonetree Manor

    Let's look at the big picture - say the builder got the wrong upgrades installed, or poor quality, you can push out the move-in date. Also a cost saving for homewoner.
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    Woodbury - Stonetree Manor

    <p>Optional Office v.s. bedroom reduces your home resale value by about $30K so do not do this. --- 1 bedroom less.</p> <p>Master bedroom fireplace will increase your resale value. It will cost about $15K+ to add a fireplace after market.</p>
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    Possible Fraud? - 92602

    NickStone - Thank you for the info. Under standard policy, forgery is covered. Say if a straw buyer is involved and the real buyer forged his signature, then will this be covered by title insurance? Thank you again.
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    1 Warranty is set to expire this week, what to look for?

    EvaLSeraphim - great idea. I will remember this when I purchase my brand new home, which I am waiting to buy.
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    Possible Fraud? - 92602

    NickStone - Thank you for explaining very well. Is there any title insurance that cover fraud?
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    Woodbury - Stonetree Manor

    <p>Oak Creek Renter - You must go with the builder for granite and epoxy. I see enough mistakes!</p> <p>- After market granite is a nightmare - dusty, takes forever, mess-up plumbing/faucet,appliances, warranty void - you save $5K upfront, then you pay $10K afterward for damages, time...
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    1 Warranty is set to expire this week, what to look for?

    It depends on who is the builder? Usually, appliances - 1 year or manufacturer. Everything else, years... Windows, structurals, roof - 10 years. It's actually cheaper to own a new home!
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    Woodbury - Stonetree Manor

    <p>Oak Creek Renter - granite counters and epoxy flooring are definitely a builder thing as these items take weeks to complete. And not to mention poor look and quality.</p>
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    Villages of Columbus - Columbus Grove - Cantara

    The home pricing for new build appears lower than resale; however, if you look at the new cost for Mello-roos and HOAs, it's more, or a wash at best.
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