You’ve decided to purchase a home and take advantage of the Extended Home Buyer Tax Credit. Here’s what you have to do to get your benefit:

1. Close on your home purchase between November 7, 2009 and April 30, 2010, or have a binding written contract by April 30, 2010 and close by July 1, 2010.
2.  Decide whether to: 

• apply the credit to your 2009 tax return, filed on or before April 15, 2010;
•  file an amended 2009 return; or, 
• apply the credit on your 2010 return, filed on or before April 15, 2011.

1. Attach documentation of purchase to your return.

When to Apply the Credit

Buyers purchasing homes on or before December 31, 2009 may claim the credit on their 2009 tax returns.

Buyers purchasing in 2010 will have the option to:

•  Claim the credit on their 2009 return, even if the purchase is completed after December 31, 2009;
•  File an amended return for 2009 if their purchase is completed after April 15, 2010; or,
•  Claim the credit on their 2010 tax returns.

Applying the Credit to Your 2009 Taxes

You will need to do three things to claim the credit on your 2009 tax return:

1. Fill out Form 5405 to determine the amount of your available credit;
2. Apply the credit when you file your 2009 tax return or file an amended return;
3. Attach documentation of purchase to your return or amended return

Applying the Home Buyer Tax Credit to Your 2009 Return

To claim the credit as part of your 2009 return, you will need: The standard Form 1040 and Form 5405 for the home buyer tax credit.

1. First begin Form 1040.
2. Be sure to take note of your adjusted gross income, which you enter on lines 37 of the form. Form 5405 actually requires you to note your modified adjusted gross income, but that affects few people, so most will just use their adjusted gross income.
3. When you come to Line 69 you’ll be asked to enter your tax credit amount. To do that, you’ll need to first complete Form 5405. 
4. Once you complete Form 5405, enter the amount on Line 69, then complete your return.
5. Attach Form 5405 to your return.
6. Be sure to contact your tax professional for specific instructions and advice.

Collecting Your Refund

Any refund for which you qualify will be sent to you.

It’s very apparent when visiting or spending any amount of time in the San Mateo Coastal area that it’s residents are behind their community 100%.  We strive to do our part in making it an inviting and desirable place to visit or call “home.”  Due to its’ natural environment, scenic views and close proximity to larger cities such as San Francisco, the San Mateo Coast has become a vacation destination for many.

The residents of this great area pride themselves in all that is offered in each of its’ towns along the coast.  One of the ways to ensure we continue to not only maintain, but enlarge our appeal is through The San Mateo County Resource Conservation Districts’ Blue Circle meeting.  All are invited to attend the upcoming meeting on Wednesday, March 24 from 3:30-5:30pm in Moss Beach.  This informal meeting will go over the various aspects of Geotourism in San Mateo Coast.

Geotourism is ”best practice” tourism that sustains or enhances the geographical character of a place, such as its culture, environment , heritage, and the well-being of its residents.  The Blue Circle Community is designed to be a place to share information, ideas and resources to enhance the natural resource management, stewardship and education of the San Mateo Coast.  Learn more and rsvp to attend this event at coastsider.com.

We enjoy providing the San Mateo Coast about current events and news that affects our community.  If you have any questions regarding the San Mateo Coast or are hoping to make this your permanent home, feel free to contact us!  We look forward to talking with you!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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As this world becomes more technologically advanced opening doors we never thought possible, it is interesting to see the recent draw back to simplicity.  This is evident as we advocate a more “green” planet in which we can live, and it also springs up in the art of natural healing.

The San Mateo Coast climate is ideal for gardening and this works in our favor as we consider the use of medicinal herbs.  If you’re not familiar with the herbs and their uses, there is a class, Herbal Basics of Herbal Garden Medicine, taking place on Sunday, March 21 at Pacifica Gardens.

This class, taught by Dina Ayala, will cover infusions, decoctions and herbal teas.  Learn which herb can cure your ailments such as stress and insomnia! The medicine you need can be grown right in your own backyard and this class will help show you how.   You will also be able to taste some of the herbal remedies and learn how to make a few of them.  Learn more here.

It’s important that we take of the environment around us and our health, and this is a natural way to do both!  One of the things we enjoy about living in the San Mateo Coastal area is being presented with opportunities such as this year round.  If you are interested in learning more about this great area or have any questions, please let us know!  We’d be happy to help you in any way we can.

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
View San Mateo Coastal Listings
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860 George Street, Montara, CA 94037

** Open House – Saturday, 2/27, 3/6 & 3/13 from 1:30-4:30pm **
Sunday, 2/28 & 3/7 from 1:30-4:30pm

Enjoy the expansive views from this Tahoe-inspired home in Montara.  This four bedroom, three bathroom home is set on an extra deep lot which features delightful gardens.  One of the many highlights of this home is wood beamed cathedral ceilings which create an environment of spaciousness plus the open and light floorplan.

A wall of oversized Pella windows in the great room allows natural lighting to come streaming throughout the main living area. Feel the tranquillity of the great room when you take in the tree lined views and Montara Mountains. The brick fireplace with gas insert will be a favorite place to cozy up on cooler evenings. Large sliding glass doors grant access to the outside front deck.

Conveniently located just off the great room is the open kitchen featuring stainless steel appliances, enough counter space for a cooking party plus a breakfast bar. An oversized pantry and Viking stove are added bonuses while the view from the kitchen makes cooking a joyful event. The cathedral ceilings continue into the kitchen and family room as well as the abundance of windows and natural lighting. Dining can also be enjoyed in this space and with access to the upper back deck; entertaining is easy as the deck has existing water for your potted garden and natural gas for your BBQ.

The upstairs bedroom offers a cathedral ceiling echoing those found throughout the home and is highlighted by its own sliding glass door and deck access. Lovely flooring and deck access are among the favorite features of the second bedroom, while the third bedroom is ideal for a home office. The spacious Master Bedroom has a wall of closets and sliding door to the wrap around deck and inviting backyard. An additional full bathroom and indoor laundry room with extra storage offer the convenience you desire.

Outside one will find the large, deep lot and garden environment to be relaxing and a great space for entertaining. This home has the open floor plan and views that anyone will be sure to appreciate!

Asking Price: $775,000
MLS: 81008102
Sq. Feet: 2400
Lot Size: 6250 sq ft
Bedrooms: 4
Bathrooms: 3
# of Floors: 2
Garage Size: 2
Subdivision: Montara
Year Built: 1984

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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With Spring right around the corner, many are beginning to think about taking advantage of the “move-up” buyers tax credit and are considering putting your home up for sale!  Move into your San Mateo Coastal area dream home quickly by making your current home irresistible to buyers.

First impressions are vital in the sale of your home, and we want to make sure yours make a positive lasting first impression!  By creating beautiful curb appeal, buyers will get a sense that you care for your property and have the same respect and care for your home.  The lawn and exterior sets the tone for how the buyers will view your home- making it a very important aspect of the home sale.

Below are a few landscaping tips that will “wow” buyers.  They may not even realize why they are drawn to your home, but the goal is that they view your home as set apart from all other properties they’ve seen.

1.  Add splashes of color – A landscape should provide a new display of colors, textures, and fragrances.

2. Size trees and shrubs to scale – These should be planted in the right scale for the house so that they don’t block windows, doors, and other architectural features on the home’s facade.

3. Maintain a perfect lawn – A velvety green lawn demonstrates tender loving care, so be sure sellers’ homes don’t have brown spots.

4. Light up the outside – Good illumination allows buyers to see a home at night and adds drama.

5. Let them hear water – The sound of water appeals to buyers, and you shouldn’t just reserve this for your backyard.

6. Use decorative architectural elements – A new mailbox, planted window boxes, and a low fence wrapped in potato vines add cachet.  Just don’t overdo!

View the full article 6 Landscaping Tricks That Wow Buyers.

Start planning now how you will spruce up your San Mateo Coastal area home as the warmer air begins to blow Spring our way!  If you have planned ahead- this will make improvements more efficient allowing your home to be placed on the market more quickly.  We have years of experience in the San Mateo Coastal real estate market and know that we can make your home sale a quick and stress-free process!  Finding a new Coastal home is something we’re passionate about helping buyers with as we have a strong base of properties for sale and a solid network in the San Mateo market.  Contact us today to set up a meeting!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
View San Mateo Coastal Listings
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As we weather this economic storm, there are three essential principles we can count on for the future:

1. Inflation leads to higher interest rates.
2. Houses are selling in high quantities.
3. If you’re a seller, it’s time to cut your price and be decisive; if you’re a buyer, it’s time to purchase or miss out on the opportunity.

Houses Are Selling in High Quantities

According to the National Association of REALTORS ®, the U.S. is currently in position to sell 4.68 million homes this year. That would put 2009 within the top 5% of homes sold in U.S. history. Although many people are purchasing distressed properties in foreclosure or short sales, there’s also a large number of purchases made on non-distressed property sales. The market is indicating that we may have reached the bottom.

Buyers and Sellers

• Buyers—don’t make the mistake of waiting for everybody else to make a move before you feel comfortable enough to purchase. Many people have made a purchasing decision already, and we never know what the bottom of the market is until it has passed. Here’s one thing you can take to the bank – higher interest rates are the equivalent of a price increase.

• Sellers—if you’re serious about selling your property, adjust your price to where the market is moving, take your lumps and move on, or you’ll be waiting a long time.

“Get ready for inflation and higher interest rates.”  – Arthur B. Laffer, Wall Street Journal, June 11, 2009.

Information Provided by
Susan O’Driscoll
Princeton Capital- Experts in Home Lending
650-712-2483

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Kathy & Michael Rain
Your San Mateo Coastal Real Estate Expert

San Mateo Coastal Real Estate
View San Mateo Coastal Listings
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1120 Birch Street, Montara, CA 94037

** Open House – Saturday 2/20 & 2/27 from 1:30 – 4:30pm & Sunday 2/21 & 2/28 from 1:30 – 4:30pm **

Enjoy the coastal area of Montara in your very own ranch style home! This three bedroom, two bathroom residence is updated and ready for you to move right in! The charming living room with pellet stove insert in the brick fireplace, hardwood flooring, recessed lighting, and sliders that lead to the extra deep backyard, is a great place to entertain your loved ones. Cook with ease in the bright and airy kitchen featuring ample cabinetry space and tile countertops. Enjoy meals in the eating area with lots of natural lighting. This room also conveniently opens to the living room and grants access to the backyard!

All three bedrooms feature hardwood flooring and neutral décor. Two renovated bathrooms, and an oversized, deep fenced-in backyard leaves you plenty of room for endless possibilities. Updates of the home include: refinished hardwood flooring, dual pane windows and new water heater. Contact us today for a private viewing of this home!

Asking Price: $669,000
MLS: 81007023
Sq. Feet: 1,270
Lot Size: 50′ x 125′
Bedrooms: 3
Bathrooms: 2
# of Floors: 1
Garage Size: 2
Subdivision: Montara
Year Built: 1963

With the unpredictability of interest rate movements, now is a great time to buy.  Today’s low rates coupled with the Homebuyer Tax Credit will make a difference for many of you who are buying in the $800,000 and below price range.

In late January the Federal Reserve met and confirmed that the Mortgage Backed Securities (MBS) purchase program will end on March 31, 2010. We expect rates to begin moving up as a result of this–what is uncertain is how quickly and how much. Most experts place the rate change value at 100 bps difference, or 1% higher mortgage interest rates. Our best guess at the outlook places rates at the beginning of the year (now) in the low 5’s and ending in high 5’s to low 6’s. However, expect volatile cycles.

The wild card with regard to short term interest rates (which would affect prime rates, and adjustable rate mortgages) is any change in the Fed’s pre-commitment language which, as of their meeting, is currently committed to keeping the Federal Funds Rate exceptionally low for an “extended period.”

We don’t expect the Fed to raise short term rates any time in 2010, but long before the Federal Open Market Committee (FOMC) actually does the deed, it will have to change its language. That could very well happen in 2010, and there is genuine uncertainty over how quickly and strongly the market will anticipate a tightening process.

Keep in mind that rates are currently about 1% lower than they would be if the Fed weren’t buying all those Mortgage Backed Securities. This means when that 1% suppression is no longer in effect, it would cost about $21,000 to buy the rate down by that 1% on a $700k mortgage. When you combine the 1% lower rate with the tax credit, you see that homebuyers stand to gain between $27,500 and $29,000 on a home in the $800,000 or under price range. That’s a big incentive to act now, while both incentives still exist.

Andy Block
Mortgage Advisor & Financial Advisor
Reverse Mortgage Specialist
DRE License 01096311
Opes Advisors, Inc.
400 S. El Camino Real, Ste. 250
Ph: 650.931.0605
San Mateo, CA 94402
www.opesadvisors.com
OPES/ope’s • n./latin for wealth

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We’re here to help with your Real Estate needs.  Let us know how we can best serve you!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Expert

San Mateo Coastal Real Estate
View San Mateo Coastal Listings
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THE HOME BUYER TAX CREDIT HAS BEEN EXTENDED AND EXPANDED. 

 Current homeowners can now receive a $6,500 tax credit, while first-time buyers are still eligible to receive an $8,000 credit. 
But act soon, the opportunity of a lifetime ends April 30th, 2010.

First time Home Buyer Credit has now changed 3 times.  The biggest change came in December 2009:
Extends the First-Time Home Buyer Tax Credit of up to $8000 to first-time home buyers until April 30, 2010 under the Binding Contract Rule-“as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until June 30, 2010 to close.
Who Qualifies-First-time homebuyers and current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five (5) consecutive years within the last eight years.
Increased Buyer Income-Under the Extended Home Buyer Tax Credit-effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000-may receive the maximum tax credit.
Price-Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

HURRY IF YOU’RE THINKING OF PURCHASING OR YOU’LL LOOSE OUT ON FREE MONEY!

Super Bowl Sunday can’t come fast enough for the real estate market.  Historically, this is when the floodgates open and sellers start putting their homes on the market.  Good news for Buyers but not as good for Sellers.  Read what is happening in the Bay Area below.

“What’s happening? First-time buyers are rushing to take advantage of the federal tax credit before it expires this spring. Unfortunately, we aren’t seeing a commensurate number of sellers bringing homes to the market to capitalize on this. There are inventory shortages throughout the Bay Area. Open homes are attracting a flood of serious buyers. The result is that attractive, well-priced homes in good neighborhoods are getting lots of interest and, in some cases, multiple offers. 

Without as much competition for buyer’s attention, a well-maintained home could stand out like a redwood tree in a desert. This may not last for long as more homes come on the market in the weeks and months ahead (don’t forget the old adage that people start listing homes after the Super Bowl).

So by and large, it’s pretty much a conversation about inventory when you talk about our Bay Area real estate market.  Even the luxury market, while admittedly slower than lower price points, has inventories trending down.  Take San Francisco, for example, for homes over $2 million.  The luxury market finished out December 2009 with a 6 months supply of inventory – compared to 10 months supply for the same period in 2008.  You’ll find similar trends in the high end in many of our communities in Silicon Valley, Peninsula, Marin, and the East Bay.  Accuracy in pricing and attention to detail in showing condition remains critical in the luxury markets, but sales activity is picking up and inventories are going down.”  by Rick Turley, President, Coldwell Banker San Francisco Bay Area

1237 Main Street, Montara, CA 94037

* *  Join Us at an Open House, each Sunday in February from 1:30PM to 4:30PM!  * *

Have you ever dreamed of living in a home with ocean views located in a quaint beach town? This dream home is now available and in move-in condition! Imagine waking up to the sounds of waves crashing or watching the sunset over the ocean while sitting peacefully in your home. Only thirty miles from San Francisco in the quiet town of Montara, this three bedroom, two bathroom home is far enough away to enjoy solitude but close enough to take advantage of all that the community has to offer!

Lovingly maintained and beautifully remodeled throughout, this open floor plan home is only a short distance to the beach and boasts unique features. Entering the foyer, you will notice the oak hardwood flooring and crown molding that shows the great attention to detail. These features continue into the living room where you will find the large picture window affords scenic views while the stunning brick fireplace adds a touch of warmth. The gourmet kitchen will be a favorite place to gather and enjoy the art of cooking while taking in ocean views. Travertine flooring, granite countertops and maple cabinetry are accented by top of the line stainless steel appliances. Viking dual ovens and cooktop range, a sub-zero refrigerator, wine refrigerator and stunning Franke kitchen deep sink are among the many features that make this an ideal chef’s kitchen. Host dinner parties in the dining area which conveniently opens to the kitchen and boasts a chandelier.

Stunning master bedroom suite acts as a private getaway with its own gas fireplace, an art niche situated in the corner of the room and a large walk-in closet. French doors lead out onto the back deck and manicured yard. The spa-inspired master bathroom comes complete with marble flooring, gorgeous soaking tub and granite vanity. Two additional rooms offer plenty of space for a large family or weekend guests and boast closet organizers. The guest bathroom mimics the master bathrooms’ marble flooring and granite vanity.

This homes’ unique features are endless and are what make this such a desirable place to live. Coming home will be like a vacation with the serene setting and access to many outdoor activities such as hiking, kayaking, sailing and surfing as well as close proximity to the Fitzgerald Marine Reserve. Truly a masterpiece, this home is a must-see!

Asking Price: $950,000
MLS: 81005605
Sq. Feet: 2,000
Lot Size: 5,000 Sq. Ft.
Bedrooms: 3
Bathrooms: 2.5
# of Floors:  2
Garage Size: 2 Car Attached
Year Built:  1976

With beautiful beaches ideal for surfing and Highway 1 which takes travelers along our breathtaking coastline, it’s no wonder that the San Mateo Coastal area draws in exciting events each year.  We’re pleased to announce the return of two sporting competitions that bring crowds and media coverage our way and highlight all that our coast has to offer.

The first is taking place this Saturday, February 13, on the shores of Half Moon Bay where surfers from around the world will compete in the Mavericks Surf contest for the $150,000 prize.  Surf enthusiasts and local business owners welcome this event which has brought in upwards of 40,000 spectators in the past to the small beach surrounding Pillar Point.  For those not planning to attend the event, please note that Princeton will be closed to drivers coming off Capistrano Road at Prospect Way and Airport Street on contest day – except to Princeton residents and business owners.  And although this may make travel around this area tricky, it’s a small price to pay for the attention and business brought to our community.  If you’ve never witnessed the Mavericks Surf contest, this may be the year to check it out!

Another exciting event of which our community gets to be an integral part is The Amgen Tour of California bicycle race which was officially announced this past Wednesday and will make its way along the San Mateo Coast.  Highway 1 is stage three of this six-stage race along the coast making this the second time our highway will be used in the five years of this race’s existence.  Set for May 18, this race 120 mile race begins in Ocean Beach in San Francisco at 11:15 am and concludes in Santa Cruz, about four hours later.

If you’ve always wanted to be involved in a community where fun events are guaranteed and the residents enjoy taking part in all that’s offered, perhaps the San Mateo Coastal area is for you!  We’ve loved living in this paradise inspired location and know you would as well!  We’d be happy to show you around the community and some of the great homes that are available.  We hope to hear from you soon!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Expert

San Mateo Coastal Real Estate
View San Mateo Coastal Listings
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One of the many things we love about the San Mateo Coastal area is the great attention to our environment and community.  Residents take pride in tapping into the local flavor of tasty foods grown nearby knowing that they are not only helping nurture the surrounding land, but people’s lives as well.

This is no more clearly seen than in the upcoming event “Spring Ahead” on February 24 from 6-8pm at Cypress Meadows in Moss Beach.  This unique event will highlight organic food from the local farmers markets, tips from resident experts on gardening and healthy living as well as live music and dance performances!  Learn about sustainable landscaping and how you can transform your lawn to be independent of water and chemicals.  Have your questions answered and become inspired by creative ideas!

San Mateo Coastal area offers many events like this throughout the year to make sure our community is growing together as we grow our environment.  Learn more about this event.

If you are searching for a strong community in a naturally beautiful setting – look no further!  The San Mateo coast has it all with close proximity to big city life while retaining a charming small coastal town feel.  We would enjoy the opportunity to answer any questions you may have regarding life here on the coast and would be happy to show you some of the amazing coastal properties that are the perfect place to call home!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Expert

San Mateo Coastal Real Estate
View San Mateo Coastal Listings
Visit My Website
Email Me