Realty World – Pigati & Russell Realtors

More stable home prices point to housing market bottom, as REALTORS? ready to rally for home ownership and the economy in Washington.
The news that home prices are stabilizing across the country suggests that 2012 will be the year the housing market bottoms out. We also look to Washington, the site of next week’s rally for the American Dream. Plus, a group of REALTORS® is making waves with a $100M plan for the state’s national mortgage servicing settlement.
Forbes: Home Prices are Stabilizing, Signifying a Housing Market Bottom
Well, 2012 may or may not be the end of the world as we know it, but one thing is certain: It’s the end of the ghastly price hemorrhages home owners have suffered since the real estate market crashed in 2007. Yet new reports from several real estate research firms signify that home prices are finally stabilizing. The data reinforces a notion already asserted by many an economist, real estate agent, and Wall Street investor: 2012 is the year of the bottom.
Sunshine State News: REALTORS® Suggest Housing Trusts for Mortgage Settlement Money
REALTORS® in Florida are the latest to chime in on how Attorney General Pam Bondi should spend $300 million, the state’s share of a national mortgage servicing settlement. The Realtors and others that are part of the Sadowski Housing Coalition suggest one-third of the money go in the trust fund that supports affordable housing efforts.
HouseLogic: Renew Flood Insurance for Home Owners: REALTORS® to Congress (http://www.houselogic.com/news/issues-affecting-home-owners/renew-flood-insurance-program/)
The federal government’s national flood insurance program is set to expire at the end of this month, leaving thousands of home buyers without access to affordable coverage – unless Congress renews the program. “Real estate markets are continuing to recover and can’t tolerate the instability of operating the NFIP by stopgap or shutdown,” NATIONAL ASSOCIATION OF REALTORS® President Moe Veissi told a Congressional panel May 9. “More than 5 million home and business owners in 21,000 communities rely on it.”
National Journal: Thousands of Realtors to Rally Next Week (http://influencealley.nationaljournal.com/2012/05/thousands-of-realtors-to-rally.php)
The NATIONAL ASSOCIATION OF REALTORS® will hold a rally near the Washington Monument May 17 to which members of Congress, such as Rep. Steny Hoyer (D-Md.) and Sen. Johnny Isakson (R-Ga.), and up to 10,000 REALTORS® are expected to attend. The Rally to Protect the American Dream is aimed at calling attention to the role home ownership plays in helping the economy.
Wall Street Journal: Vacation Homes Beckon (http://online.wsj.com/article/SB10001424052702303877604577382002073347624.html?mod=googlenews_wsj)
If you’re thinking of buying a second home in the next five years, this might be your best opportunity. Near-record-low mortgage rates, bargain prices, and dwindling home inventories are bringing some once-untouchable markets within reach for the first time in a decade, say housing market experts.
Have a Great day,
Keith Parrett
Realtor/CDPE – Realty World
(925) 580-4650
keith@keithparrett.com
www.keithparrett.com
License No: 01714500
Article From HouseLogic.com
By: Meghan Smith
Published: May 11, 2012
Visit houselogic.com for more articles like this. Reprinted from HouseLogic with permission of the NATIONAL ASSOCIATION OF REALTORS®
Copyright 2012. All rights reserved.

Have home prices finally hit bottom? Many analysts think so. According to the latest forecast by Fiserv, the market watcher sees a big boost to home prices on the horizon, projecting that home prices will rise nearly 4 percent per year for the next five years.
Housings rising affordability mixed with falling inventories of for-sale homes are the main factors driving the expected price increases, according to Fiserv.
Initially, investors are expected to help drive most of this price increase, and then followed by first-time and trade-up buyers as they re-emerge in bigger numbers to the market.
Source: “U.S. Home Prices Could Rise 4% a Year, Forecast Says,” USA Today (May 8. 2012)

3216 Plantation Ct. Modesto Ca

LINK TO 368 MADRONE

ONE OF A KIND SINGLE STORY CHARMER! BEAUTIFUL COURT LOCATION WITH A 80+FOOT DRIVEWAY~2 CAR DETACHED GARAGE & 1 CAR CARPORT, HIGH END GRANITE KITCHEN COUNTERS, NEW WAINSCOTING, DOORS & HARDWARE, REMODELED BATHS, NEW CENTRAL AC/HEAT, BRAND NEW ROOF, NEW LANDSCAPING, NEW PAINT INSIDE/OUT, NEW FLOORING!
Double click the picture for details.

What is a bank owned home?
Here is the definition set by Wikipedia:
“Real estate owned or REO is a class of property owned by a lender—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction. A foreclosing beneficiary will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the beneficiary will legally repossess the property. This is commonly the case when the amount owed on the home is higher than the current market value of this foreclosure property, such as with a high loan-to-value mortgage following a real estate bubble. As soon as the beneficiary repossesses the property it is listed on their books as REO and categorized as an asset (non-performing asset)”
A Bank Owned Listing then is, in simple terms, when the bank takes the property back via a foreclosure action and then attempts to resale the property often on the open market. I have extensive experience in selling these types of homes. If you are interested in purchasing a bank owned house or property please call me so I can educate you on the process and assist you in acquiring one before they are all gone!
My cell phone is 925.383.5590, Thank you Anthony Pgati ~broker

With tax deduction limits coming for 2013, medically related home upgrades are a smart project this year.
What a difference year makes.
For the 2012 tax year, you can take a tax deduction on medically necessary home improvements (http://www.houselogic.com/home-advice/tax-deductions/medical-tax-deductions-home-improvements/) – like installing a wheelchair ramp and other projects that make life easier for an ill or injured family member – if you:
•Itemize deductions
•Spend more than 7.5% of your adjusted gross income on the upgrades (10% of AGI if you’re subject to alternative minimum tax).
Starting in 2013, if you’re under age 65, you can’t take the tax deduction on medical expenses until you spend 10% of your AGI. But if you’re 65 or older in 2013, you can stick with the 7.5% AGI tax deduction threshold through the end of 2016.
The rules for tax deductions on medical home improvements are tricky:
1. Start with what it costs to modify your home.
2. Subtract the value the upgrades add to your home.
3. What’s leftover is your tax deduction – if you meet your AGI threshold.
How it works
Say you’re 45 years old and spend $20,000 to put a bathroom on the first floor of your home because your husband can’t climb stairs anymore. Your AGI is $100,000. A REALTOR® says the bathroom adds $10,000 to the value of your house.
1. Start with the cost of the improvements: $20,000
2. Subtract your added home value: $10,000
3. Of that $10,000 difference, you can only take a deduction for expenses that exceed 7.5% of your AGI or $7,500.
So if you itemize, you can take a $2,500 deduction for the 2012 tax year. Wait until 2013 and you get no deduction because your threshold rises to 10%. If you’re over age 65, though, you can claim a $2,500 deduction.
Tip: Doing all your improvements in a single year will help you meet the AGI threshold.
Some of the improvements that you can claim a tax deduction for, according to IRS Publication 502 (http://www.irs.gov/publications/p502/index.html), “Medical and Dental Expenses”:
•Entrance ramps for your home
•Grading the yard before building a ramp, or to make it easier to get in your home
•Widening exterior or interior doorways
•Widening or removing hallways
•Installing railings, support bars, or other bathroom improvements
•Lowering or modifying kitchen cabinets and equipment
•Moving or modifying electrical outlets and fixtures
•Installing porch lifts and other forms of lifts (but elevators generally add value to the house)
•Modifying fire alarms, smoke detectors, and other warning systems
•Modifying stairways
•Adding handrails or grab bars anywhere (whether or not in bathrooms)
•Changing door knobs
•Upkeep of medically necessary upgrades, like elevators, and operating costs
•Lead-based paint removal if your child has lead poisoning
•Renovating an existing bathroom to make it handicap accessible or adding a new accessible bath
Will the tax change encourage you to make necessary changes this year?
Have a Great day,
Keith Parrett
Realtor/CDPE
Realty World Pigati and Russell
Direct: (925) 580-4650
Efax: (866) 404-4934
Email: keith@keithparrett.com
www.keithparrett.com
License No: 01714500
If you, a friend or family member need Real Estate assistance, please feel free to contact me anytime. Your referrals are the greatest compliment I can receive!
Article From HouseLogic.com
By: Dona DeZube
Published: April 10, 2012
Visit houselogic.com for more articles like this. Reprinted from HouseLogic with permission of the NATIONAL ASSOCIATION OF REALTORS®
Copyright 2012. All rights reserved.

Give me a call and I will take you on a personal tour on the New Homes In the Brentwood area. Let me do all the negoatiating between you and the builder and save you time and money. I have good relationships with these builders which allows me to represent you on a new purchase, I do need to bring you there and introduce you to the development for the first time. Call me to set your time up today….Cell 925.383.5590 Anthony Pigati
About the New Homes @ Penrose in Brentwood:
Situated between the lush delta countryside and the beautiful San Francisco Bay Area, the elegant new community of Penrose at Barrington brings the best of Northern California comfortably within reach. Located in the city of Brentwood, Penrose sits within view of the magnificent Mt. Diablo and among fifty plus gorgeous parks as well as three golf courses, over 16 miles of beautiful trails, hundreds of acres of vineyards and endless recreational opportunities. At roughly an hour from major bay area destinations like San Francisco and the Silicon Valley, Penrose combines the serenity of home with the convenient access to the metropolitan Bay Area.

Open House this Thursday April 5th from 4-7pm at 2039 Reseda Way in Antioch. Don’t miss your chance to view this beautifully remodeled single story home in Mira Vista Hills. Conveniently located off James Donlon Blvd;  close to park, freeways and shopping. Hope to see you there!