May  2006 Newsletter

1. Real Estate: Save Thousands of $$$ on your Next New Home Purchase

2. Home remodeling Pays-off

3. Time to Clean the Gutters Again

4. Property Tax Basic

5. Back Off, Bloodsuckers

6. $125 for High Efficiency toilet for East Bay Municipal Utility District Users

7. Medicinal Properties of Green Tea

8. Mango Mojitos Recipe

9. REGISTER TO VOTE DEADLINE FOR JUNE 6 BALLOT IS MAY 22

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1. Real Estate: Save Thousands of $$$ on your Next New Home Purchase

Inventory of New Homes for sale are increasing. As a result, builders are offering free upgrades, price drops, and Cooperation with Real Estate Brokers. Just like in the resale market, the builder will pay a commission to me for introducing them to a buyer. Because my level of involvement in these transactions ends, once the buyer decides to buy. I am offering to share up to half of my commission with the buyer towards their non-recurring closing costs. In almost all cases, this should cover all their closings costs. If you or someone you know is interested in buying new construction, have them contact me before they visit the new home development. I have to register them at the property the first time they visit it in order to earn the commission. If they go on their own, the builder will not give them any of this incentive. back to top

2. Home remodeling Pays-off

Whether you plan to sell this summer or years from now the Home improvement Projects that offer the best payoff are:
    * Kitchen  remodels can add 120-130% payback
    * Bath remodels can add 110% payback
If you do the project now, you get to enjoy now, and when your ready to sell, these improvements will offer a faster sell as well as more money.  back to top

3. Time to Clean the Gutters Again

Were your gutters overflowing during the rainy season or was water collecting near or in the crawl space. If yes, than you need to address the problem before the gutter system breaks or foundation or mold issues develop. If you need a referral call me.  back to top

4. FACTS about California Property Taxes

Prior to Proposition 13 property values in California were assessed every 4 years. Thanks to Proposition 13, the assessed value is based on the value at the time of ownership change and can be no more than 1% of the assessed value. Property taxes thereafter are not allowed to increase at more than 2% a year. Furthermore no additional tax can be added without approval by two-thirds of the voters affected.

If you think your property value has declined, here's info on how to appeal your assessed value. http://www.boe.ca.gov/proptaxes/pdf/pub30.pdf

Exceptions to Ownership Change, Causing New Assessment.
There are some exceptions to the change in ownership rule. A transfer of the property into a revocable trust or a change in the method of holding title, such as changing from Joint Tenancy to Tenants in Common or transferring the title to a LLC (% ownership in new entity must remain the same as before the transfer). Also allowed exceptions are transfers between spouses, transfers between joint tenants,  transfers between parents and children (under proposition 58). This last exception is not automatic, an application for exclusion must be filed within 6 months of the notification of reassessment (supplemental tax bill).

55 and older Allowed to Take their Old Property Tax Basis to their New Property
(Proposition 60, 90 & 110)
Proposition 60 allows for the 1 time transfer of the property tax basis from an existing primary residence to a new primary residence in the same county. If married, one of the transferees must be 55. If the new property is purchased within 1 year after the sale of the old property, the value of the new property cannot exceed105% of the value of the old sold property, or 110% if it is acquired in the 2nd year after the sale of the property sold. The transfer property must be purchased within 2 years of the sale of the old property.

Proposition 90 allow the transfer to occur between counties  that have adopted this ordinance, which currently includes: Alameda, Los Angeles, Orange, San Diego, Santa Clara, & Ventura.  back to top

5. Back Off, Bloodsuckers (from This old House)

Some ways to keep mosquitoes out of your yard

• Place goldfish in your lily pond
• Replace outdoor bulbs with yellow bug lights, which insects have trouble seeing, to discourage swarming
• Crush marigold leaves and petals between your fingers and rub the oil extract on your skin for a mild repellant.
• Toss rosemary or sage onto burning coals in your grill to act as a repellant
• Remove shady areas from your yard.  back to top

6. $125 for High Efficiency Toilet for East Bay Municipal Utility District Users

For more on this rebate program go to www.ebmud.com or call 1-866-403-2683.

Lowes has a high efficiency toilet that you can buy for $128, which makes it almost free.   back to top

7. Medicinal Properties of Green Tea

Green Tea gets a lot of praise. Here are just a few medical conditions in which drinking green tea is reputed to be helpful:

I just discovered a brand I like better than others - Taylor Maid Farms True Green Tea. If you have a brand you really, please let me know.

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8. Mango Mojito Recipe (something fun and tropical for those summer parties)

Ice Cubs (3/4 cubes)       10-12
Mint Leaves (washed and split)    10-12
Lemon        1/4   
Barcardi Gold Rum    1 1/2 oz
Marie Brizard Mango Liqueur    1 oz
Sweet and Sour    1 1/2 oz
Soda    2 oz

Place ice cubes in glass. Place leaves on ice cubes. Add remaining ingredients. Stir.

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9. REGISTER TO VOTE DEADLINE FOR JUNE 6 BALLOT IS MAY 22

In California, you must be registered to vote 15 days prior to an
election.  For this year’s primary -- which is June 6 -- you must
register prior to the May 22 deadline.  Regardless of your political
affiliation or your political beliefs, I encourage you to register to
vote and to remind your family and friends to register.

If you have turned 18 years of age, moved since you last voted, or want
to change your political affiliation, you can register by using this
link on my website:
http://boxer.senate.gov/vote2006/

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Remember: FRIENDS DON'T LET FRIENDS BUY OPTIONS ARMS

What's Happening in Fremont, Newark and Union City  About Fremont

Cities served: Fremont, Newark, Union City, Hayward, Castro Valley, San Francisco, Oakland, Pleasanton, Diamond Bar, Temecula, San Diego, Los Angles, La Jolla, Sacramento, Fullerton, Brisbane, Menlo Park, San Jose, Sunnyvale, Milpitas, Sherman Oaks, Tracy, Livermore, Dublin, Pomona, Walnut Creek, Berkeley, San Leandro, Milbrae, Petaluma, Ontario, Marin, Manhattan Beach, San Mateo, San Ramon, Fremont, Newark, Union City.

Fremont based, Realtor, Mortgage Broker, MBA, CPA
SMA Financing is a Real estate broker, California Department of Real Estate, License #0117376

(c) 2003-2006 all rights reserved, Sunil Sethi.