| Helping People Live the Paso Style;
Real Estate News, Events, Wine, Food, Living |
April 2010 |
WINE NOTES(Local Wine and Real Estate News)
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Buy a House and Get $18,000!
Yes, that's
right. Buy a house and get up to $18,000. For a limited time
Californians who purchase a home can receive up to $18,000 in combined
Federal and State Tax Credits if you are a first time how buyer and
$16,500 credits if they already own a home. Of course there are
limitations and restrictions, but this should be incentive to
anyone who is on the fence about buying a new home now.
First,
the most critical element is time restriction. The Federal Tax Credit
expires soon. You must have entered into a purchase contract
before May, 1, 2010 and you must close before June 30, 2010. A
brief recap of some of the key provisions of both the Federal and State
programs.
Federal:
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Primary Residence (The home you spend most of your time at) |
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10% of purchase price up to $8000 for First Time Home Buyers
(not owned a primary residence in past 3 years) or up to $6500
for long term existing home owners (owned your primary residence
5 of the past 8 years. |
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Must enter purchase contract by April 30, 2010 and close
transaction by June 30, 2010. |
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For full details:
http://www.irs.gov/newsroom/article/0,,id=204671,00.html |
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State:
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Primary Residence |
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5% of purchase price up to $10,000 |
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Either First Time Home Buyer (not owned
a home in past 3 years) or purchase of a never lived in home
(must be certified by Seller). |
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Must purchase between May 1, 2010 and
July 31, 2011, but you must have entered into an enforceable
contract by December 31, 2010. |
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For full details:
http://www.ftb.ca.gov/individuals/New_Home_Credit.shtml |
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Quick Real Estate Stats:(California)
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Median Home Price-
California $279,840 |
Highest Median Home Price
Santa Barbara So. Coast $795,000 |
Lowest median home price
High Desert $122,580 |
Mortgage rates- week ending
3/25/10:
| 30-yr |
fixed |
4.99% |
Fees/points: 0.6% |
| 15-yr |
fixed |
4.34% |
Fees/points: 0.6% |
| 1-yr |
adj |
4.20% |
Fees/points: 0.6% |
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 A
focus on Real Estate. Most of us are home owners.
So if someone asked you to prove you own your home what
document will prove your home ownership?
| a) | Grant Deed |
| b) | Trustee Deed |
| c) | Title |
| d) | None |
(Please visit
http://www.pasostyleliving.com for the answer) |
PASO STYLE LIVING REAL ESTATE (Local Real Estate Market Conditions)
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 Of
course I'm asked frequently, "How's the Real Estate market". People
have a concern, our home is the largest investment that most of us
will ever make. But what is interesting, for the largest
investment we will ever make, true and accurate information on market
trends is difficult to decipher and is often not appropriate or misleading.
A recent article in the
San Luis Tribune is an excellent example of that issue. The
headline "Big Buzz: Median Home Price Rises as Sales Slip"
tells a story in itself. It has too! After reading the actual
story I was totally confused to what the real news and message was.
I know I'm repeating myself, Real Estate is a local thing!
The numbers I report are for Paso Robles Wine Country which consist of the
most of North County of San Luis Obispo County. The numbers below
indicate a significant sales increase over last month and a slip in median
sales price. Just to prove how critical locality plays into the
numbers, Atascadero shows a significant increase in Average Selling
Price for March Compared to February and Paso Robles show a significant
decrease. Again, this just indicates that statistics are an indicator
of trends and can only used in that manner.
The best
predictor of home price trends is Inventory Level. Anything over 6
months is considered a Buyer's market. |
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Real Estate Up, Down, and Around:
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Area(03/1/10-3/31/10) |
Avg Price |
Homes Available | Sold |
Pending |
| Atascadero |
$391,306 |
117 |
31 |
26 |
| Paso Robles |
$314,433 |
226 | 52 |
38 |
| Templeton |
$548,333 |
53 | 3 |
6 |
| All Paso Wine Country |
$349,007 | 474 |
89 | 83 |
| Paso Wine Country contains the following real estate areas (Paso Robles, Atascadero, Templeton, San Miguel, Creston, Shandon, and Santa Margarita) (Single Family Homes, SFRSB)
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REAL ESTATE HOT LIST (Special Properties for Sale in the Paso Wine Country)
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FOOD CORNER (Personal Recipes and Favorite Restaurants of the Paso Wine Country)
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Caldo De Res
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Spanish Beef Soup. Most of us have had Beef Soup,
but this style is more flavorful than any I've had
before. This soup is made with shank bones which
when slow cooked releases a unique sweetness from the
bone mallow.
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2 lbs |
Beef Shank (cut into 2
inch pieces) |
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1 |
Onion, coarsely chopped |
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12 oz |
Beef Stock |
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12 oz |
Diced Tomatoes |
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4 |
Potatoes, coarsely
diced |
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2 |
Squash coarsely diced
(Zucchini, Yellow, or Chayote) |
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7 |
Carrots, peeled, cut
into 2 inch pieces |
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2 Cups |
Shredded Cabbage |
Season the Beef with salt and pepper, brown over
medium high heat. Add chopped onion. When
meat is browned, add beef stock and stewed tomatoes.
Bring to boil and reduce heat to a slow simmer.
Cook until meat is fork tender.
Add
vegetables, cover with water, and simmer for 20 minutes.
Serve hot over the shredded cabbage.
Enjoy!
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