Posts Tagged ‘Real Estate’

•Sunnyvale Elementary School Gap Appears to be Closing

October 17, 2012
Robert Lei
By Robert Lei | Agent in Sunnyvale, CA

  • Sunnyvale Elementary School Gap Appears to be Closing

    Posted Under: Home Buying in Sunnyvale, Home Selling in Sunnyvale, In My Neighborhood in Sunnyvale | October 17, 2012 11:56 AM | 13 views | No comments
    The gap in performance between schools in the Sunnyvale Elementary school district appears to be closing, based on the recently released latest API results. For many years, we had Cherry Chase #1 and Cumberland #2 both FAR ahead of the rest of Sunnyvale schools in Academic Performance Index (API). Ellis Elementary then emerged as a clear #3 with the remaining schools still far behind.
    However, the latest results show a strong improvement in Bishop Elementary (+25) and good improvement in San Miguel Elementary (+7) while a couple of the top schools Cherry Chase (-11) and Ellis Elementary (-4) dropped slightly. If Bishop Elementary and San Miguel Elementary continue their climb, they will break the 800 API barrier next year. From an investment point of view, you might be wise to buy houses in those two neighborhoods while they are still below the psychological 800 barrier.
    By the same token, now may be the smart time to buy in the Cumberland Elementary neighborhood. Cumberland Elementary looks poised to overtake Cherry Chase as the #1 ranked school in the Sunnyvale School District. If/when that happens, it will be a huge psychological stimulus for Cumberland home prices.
    Robert Lei, REALTOR, ePRO Century 21 M&M and Associates 474 E. El Camino Real Sunnyvale, CA 94087 (408) 893-2410

 

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How is Real Estate treated when considering Child’s Eligibility for Financial Aid?

November 20, 2011

How is Real Estate treated when considering Child’s Eligibility for Financial Aid?

If you have a child entering or in college, then this is an important question.

From the FinAid SmartStudent Guide(TM)to Financial Aid “Real estate is normally treated as an investment asset, not a business asset, unless it is part of a formally recognized business that provides services beyond utilities and trash collection, such as maid service. However, incorporating a business and transferring the real estate to the business bypasses this restriction, since a corporation is a separate legal entity. When combined with the small business exclusion, this can cause real estate to change from being reported as an investment asset to being entirely excluded from assets.”

Real estate is a good investment. It’s better to make money than lose money. Obviously, it doesn’t make sense to really lose money just for the sake of getting more financial aid. However, what you can legally do is consider the timing and the mix of you cash, assets, etc and whose name they are under. In general it’s better if you the parent and/or the grandparent owns the assets rather than your child. Delay putting assets in your childs name until late in their junior year in college after you’ve filed your last application for financial aid.

Also, spend your cash, don’t save it. Don’t buy anything you wouldn’t buy, but if it’s something you eventually need to buy and/or pay, then do it during the student financial aid years. If your car is getting old, then buy it now rather than waiting until it’s really old. If you have lots of cash, should you purposely spend it by buying investment property? Yes, if it’s a good investment property. No, if it’s not a good investment property. If you do buy investment property, then consider the strategy I mentioned earlier that can cause real estate to change from being reported as an investment asset to being entirely excluded from assets for financial aid purposes.

Disclaimer: This post is just to give you some ideas. I am a REALTOR not a lawyer. Please consult legal counsel for professional legal advice.

Posted by Robert Real Estate (408) 596-3188 at 10:35 AM

New California Real Estate Laws Coming 2012: Water-Conserving, Mining, No Fee Bundling for HOA Disclosures

November 17, 2011

Three New California Real Estate Laws Coming in 2012 are:
1. Senate Bill 837: Sellers Disclose Water-Conserving Plumbing Fixtures
2. Senate Bill 110: NHD Companies Disclose Mining Operations
3. Assembly Bill 771: No Fee Bundling for HOA Disclosures

In more detail:
1. Senate Bill 837: Sellers Disclose Water-Conserving Plumbing Fixtures
Effective January 1, 2012, the Transfer Disclosure Statement (TDS) will include a check-box in Section A for the seller to disclose whether the property has water-conserving plumbing fixtures (e.g. low-flow toilets, shower heads, and faucets under section 1101.3 of the California Civil Code.

2. Senate Bill 110: NHD Companies Disclose Mining Operations
Starting January 1, 2012, any natural hazard disclosure (NHD) must disclose whether the property is located within one mile of a mining operation, according to the map coordinate data from the Office of Mine Reclamation.

3. Assembly Bill 771: No Fee Bundling for HOA Disclosures
The HOA cannot bundle the fee for providing required HOA disclosures with any other fees, fines, or assessments. This law will prevent an HOA’s third-party document preparation company from bundling together both mandatory and non-mandatory HOA documents and charging a higher fee for providing ALL the documents.

Also, the HOA is prohibited from charging any additional fees for electronic delivery. These must be available to a requesting party if the HOA maintains the documents electronically.

Additionally, at buyer’s request, the HOA must provide 12 months of approved minutes of the association board of directors meeting.

Delivery of the required HOA documents must be accompanied by a cover sheet itemizing the documents.
Posted by Robert Real Estate (408) 596-3188 at 8:14 PM
Labels: 2012, Bundling, California, Coming, Conserving, Disclosures, Fee, HOA, Laws, Mining, new, No, Real Estate, water

June 2011 Real Estate Report for Santa Clara County

June 8, 2011

June 2011 Real Estate Report for Santa Clara County

Real Estate Report, Santa Clara County, 2010 June

June 17, 2010

Click on the hypertext to access the latest Real Estate Report local market trends in Santa Clara County dated 2010 June

Real Estate Report for Santa Clara County April/May 2010

April 18, 2010

For the latest local housing market trends click on the
Real Estate Report for Santa Clara County April/May 2010

Some of the stories this month are:
Sales Price to List Price Ratio Stays over 100%
New State Tax Credit
How to take advantage of BOTH the Fed and State tax credits
Mortgage Rate Outlook
…and more…