Thursday, August 28, 2014

Open House Saturday 1pm-4pm with Bertha Taylor Elementary (API 903)

Open House Saturday 1pm-4pm with Bertha Taylor Elementary (API 903)

For more details about the open house, listen to this Song

Lyrics:
Come to my open house Saturdaaaay
1pm to 4pm
Saturday.  This Saturday you don't have anything better to do
because there's no 49ers for you to watch
So why don't you come to my open house
My open house in South San Jose
The schools are so awesome
Bertha Taylor Elementary...
with its API over 903
Your kids will be smart
Your kids will be smart
They will become geniuses
after they go to Ber Tay
They'll learn so much
They'll become doctors, lawyers, ... or software engineers
Making lots of money
Making apps for your iPhone or your Android phone
just because you bought this house
2014 was the turning point of your children's lives
Just because you were so smart to buy this house in...
Bertha Taylor Elementary in the Oak Grove Elementary school district
The #1 school in Oak Grove Elementary
Make sure it's Bertha Taylor
because Bertha Taylor is the one with API of 903.
Come on to my open house.
Come on to my open house.
Bring your kids because they are going to become....so smart
after going to Bertha Taylor Elementary
The house with the white picket fence.

Monday, August 25, 2014

Waiting period to buy again after foreclosure or short sale

Waiting period to buy again after foreclosure or short sale

After a distressed sale, how long is the wait before you qualify for a new mortgage to help you get back to becoming a homeowner?
a) If you did a short sale for your last house, you normally have to wait for 4 years before you can qualify for a loan to purchase a house again.  However, with Extenuating Circumstance, you might be able to get a loan after 2 years.
b)    If you let your last house go to foreclosure with a valid hardship, then you still need to wait only 4 years to qualify for a conforming loan to get back to becoming a homeowner.
c) If you
let your last house go to foreclosures with no valid hardship (i.e. strategic foreclosure), then for both conforming and non conforming loan, you will need to wait 7 years
For an FHA loan, you only need to wait 3 years.

Friday, August 8, 2014

Open House Saturday 8/9/14 from 1-4pm. 3274 Payne Ave, San Jose, CA 95117


Open House Saturday 8/9/14 from 1-4pm.  3274 Payne Ave, San Jose, CA 95117

To view the flyer, click here.

High Ceiling
3 bedrooms 2.5 bathrooms
New Interior Paint
Granite Counters in Kitchen
Master Suite has Large Walk-in Closet
2 Car Garage

Thursday, August 7, 2014

Trumark Homes' Momentum at Pace in Milpitas

Trumark Homes' Momentum at Pace in Milpitas offers 2 floor-plans. 

Click here to see the brochure.

Page 1 lists the Features and Amenities.  Pages 3-4 show the two floor-plans (which they call "residences"). 

Both Plans 1 and 2 have tandem garages.

Both Plans 1 and 2 are more rectangular in shape.

Both Plans 1and  2 have the master and the 2nd bedroom separated by a laundry room.

Both Plans 1 and 2 are tri-level.  However, plan 1 has kitchen, great room, and half bath down on the 1st floor, which minimizes the occupants' climbing and descending of stairs.  Plan 2 is organized like a typical tri-level from other home builders in the Bay Area (1st floor has garage, den, guest bedroom, guest bathroom; 2nd floor has kitchen/dining/living rooms; 3rd floor has the remaining bedrooms).

Trumark Homes' Velocity at Pace in Milpitas Offers 6 Very Different Floorplans

Unlike some other new communities whose floor-plans are all very similar to each other with only minimal tweaks, Trumark Homes' Velocity at Pace in Milpitas offers 6 very different floor-plans. 

Click here to see the brochure.

Page 1 lists the Features and Amenities.  Pages 3-8 show the six floor-plans (which they call "residences"). 

Plans 1, 2, and 5 have tandem garages.
Plans 3, 4, and 6 have side-by-side garages.

Plans 1 and 2 are more squarish.
Plans 3-6 are more rectangular.

Plan 2 has the master and the 2nd bedroom open right next to each other in case you are a parent who wants to keep close tabs on your kids.

Plan 6 has only two levels, which is great for people who are tired of seeing tri-level new homes.  Aside from the garage and office and bathroom on the 1st floor, the remaining common rooms (kitchen, dining, living) and bedrooms/bathrooms (master, 2nd) are all on the 2nd floor, which minimizes the occupants' climbing and descending of stairs.

Friday, July 25, 2014

Open House Saturday 12:30-3:30pm 1446 Golden Meadow Square, San Jose, CA 95117

Open House Saturday 12:30-3:30pm
1446 Golden Meadow Square, San Jose, CA 95117
Desirable "Merrivale West" townhouse complex
Centrally located off Payne & San Tomas Expressway
Call Robert Lei (408) 893-2410 if you have questions or would like to see the inside


Friday, July 18, 2014

Wiring Money from Overseas Bank Account vs. Opening a US Bank Account to Gift Money to Kids

From a Gift Tax perspective, it is better for parents to wire money directly from their foreign bank account to their kids in the United States. 

Some parents who live overseas make the mistake of opening a bank account in the United States for the purpose of transferring money to their kids in the United States.  However, that opening a US account and paying from that US account to their kids, makes them have to Pay a gift tax in the United States.

Going back to the first method, if the parents fund transfers take place overseas, then the buyers will not have to pay gift tax.
For full details, check the 3520 gift report form "
 
 
 








Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts
 
 
:
http://www.irs.gov/pub/irs-pdf/f3520.pdf


Per bank social, you are allowed $100k per year.
If the buyers are buying the property for investment (rather than to live in themselves), then gifts will not be allowed.

Disclaimer: I am not a tax professional.  Please contact your tax professional for full details.