Changing out dated brass fixtures can dramatically improve the overall look and feel of your home, and it is a small investment that may potentially impress buyers.

For instance, if your home has a builder-standard, cheap brass door handle, it is the first thing buyers see when they walk up to your front door, and it represents the first impression buyers have of your home.

Today, satin-nickel finishes or dark brown oil-rubbed bronze finishes are perceived as more up-to-date.  Often, brass light fixtures can be switched for inexpensive versions in satin-nickel or oil-rubbed bronze for the same cost as a brass model, but the change gives an instant update, sending the message that the house has been lovingly cared for.

The same goes for replacing other hardware such as hinges, yellowing switch plates, and other details.  Although they are small, easy, and cheap fixes, buyers notice them.

Carefully considering the details when staging your home for sale can make a huge difference in whether you sell the home at all, and in the amount buyers may offer.  We work closely with you in preparing your home for the market and in marketing it once it is ready.  Contact us for a free consultation!

Apparently, according to an article on Zillow.com, homes with man caves are surging in popularity these days.  You know what I’m talking about when I say “man cave”, right?  I’m talking cushy sofas, big-screen TVs, plenty of beer (or maybe even a wet bar), snacks, and a dart-board.  You might have one in your home.  But when it comes to tricked-out man caves, these properties have got it down.

Check out the man cave for car enthusiasts that has a car elevator, a billiard room, a full kitchen, and a workshop.  Or the one with four ceiling-mounted TVs, a two-lane bowling alley, a gym and spa.  Or how about a man cave with an indoor pool and slide, located conveniently next to a wet bar, basketball court, and arcade?  Sounds like the stuff of dreams, doesn’t it?

Check out the full article with listings at Zillow.com.

Although Mello-Roos and 1915 Bond Act taxes have not been legal deductions in the past, many California homeowners routinely wrote them off their state income taxes because they were lumped in with their total property taxes.  However, new rules will require that taxpayers break down their property taxes into deductible and non-deductible portions.  A new computer system will track deductible and non-deductible property taxes, making it easier for the Franchise Tax Board to catch homeowners who are in non-compliance.

The FTB initially planned to enforce the new rules for the 2011 state taxes (due April 2012), but due to negative feedback, decided to hold off until next year to allow homeowners and tax preparers to get their paperwork in order.

If you live in a Mello-Roos community, you should check with your CPA before filing your state income taxes next year to ensure that you are not claiming an illegal deduction.

Read more about the new rules at the OC Register.

When:  Saturday, Feb 4th, from Noon to 4:00pm

Where: Dr Willella Howe-Waffle House, 210 Civic Center Drive W, Santa Ana, CA

What: A Tour of the Historic Property, including a display of antique Valentines, a cup of Tea and a selection of Chocolates

Cost: Adults $5, Seniors and Members $4, Students $3

Find out more at www.SantaAnaHistory.com.

Click “more” to see the invitation below.

The Santa Ana Historical Preservation Society invites you to our GIGANTIC Antique & Collectible Sale Saturday, March 3, 2012 10:00 am – 3:30 pm Dr Willella Howe-Waffle House 120 Civic Center Drive West, Santa Ana, CA (SE corner of Civic Center and Sycamore; free parking across the street at the Old Orange County Courthouse) A huge selection of Victorian-through-1970s: ephemera ● vintage magazines ● books ● furniture ● toys ● games ● salvaged architectural elements (claw foot tubs, full staircase-c. 1900) ● glassware ● clothing ● current books on local history Priced to sell! Cash, checks, major credit cards. for more information contact at salvage@sahps.org or 714/547-9645  SantaAnaHistory.com

Markus was recently interviewed for an article on Wisebread.com entitled “How to Choose a Real Estate Agent”. How can you tell the bad apples from the true professionals? He provides tips to help consumers decide whether a real estate agent is trustworthy and competent. Your Realtor will be advising you on how to sell or buy a home worth hundreds of thousands of dollars. It only stands to reason that you want someone with the skills to do the job well.

Read the full article at Wisebread.com: How to Choose a Real Estate Agent

Hope you’re having a great week!

Markus and Heidi

If you’re considering a short sale (which is a far better alternative to foreclosure), now is the time to take action. Once the Mortgage Debt Forgiveness Act expires, and you decide to do a short sale, you may end up paying thousands more in taxes.

The Mortgage Debt Forgiveness Act was designed to give relief to homeowners forced to sell their homes in a short sale.

Prior to 2007, homeowners were responsible for paying income tax on the debt forgiven through the short sale of their primary residence. That is, if you owed $600,000 on your home, but sold it in a short sale for $500,000, you would be responsible for paying income tax on the $100,000 of debt forgiven by your bank. The Mortgage Debt Forgiveness Act, valid from 2007 through 2012, offers relief to homeowners by stating that they are NOT responsible for taxes on debt that is forgiven by the lender.

However, the Debt Forgiveness Act is set to expire at the end of 2012, and it has not yet been decided whether it will be extended.

If you are having difficulty meeting your mortgage payments, or are facing possible foreclosure, we would be glad to consult with you about the possibility of putting your home up for a short sale in 2012. We have earned the nationally recognized Short Sales and Foreclosure Resource Certification (SFR), and can walk you through the often difficult and complicated procedure of a short sale.

Markus Brown, BA, SFR
714.299.3400
markus.brown@yahoo.com

Heidi Brown, MBA, SFR
949.280.2912
heidi.brown@yahoo.com

A recent OC Register article ran the numbers on renting vs. buying in Orange County, and found that the average monthly cost of owning a home in Orange County was $2,177 whereas the average cost of renting was $1,440 (making the difference between the two the lowest since 1989).

Although a quick glance at the numbers implies that renting is cheaper, consider the difference in quality between what you can rent for $1,400 and what you can buy for $2,200 a month.  Rental apartments in desirable neighborhoods such as Tustin, Orange, and Irvine will run you between $1,400 and $2,000 or more for a 2-bedroom apartment at around 1,000 square feet. By contrast, recent clients of ours have taken advantage of the low home prices to buy single-family homes or condos, and are paying about $1,800 a month for a larger, better-quality home.

If you are considering renting a townhouse or a single-family home, rents are running between $2,500 and $3,000 for 2-3 bedroom townhouses or detached houses, more than what you would pay monthly if you owned the property. Increasing demand for such homes (as homeowners sell or move out of their homes) will drive up the rental rates.

To put it simply, you could pay over $2,000 a month to rent a spacious condo, townhouse, or single-family home in a desirable neighborhood, or pay the same amount or less and own the same home.

Owning your own home also comes with advantages such as:

• Putting your monthly payment towards building your own equity, instead of into your landlord’s pocket.
• Taking advantage of historically low mortgage rates, which make real estate one of the best investments of your money right now
• Taking advantage of depressed home prices to buy a property with future appreciation potential
• Tax savings for owning rather than renting a property
• The ability to plan for the future with a fixed mortgage at today’s favorable rates, in contrast to rents which are continually increasing and over which you have no control
• The freedom to do what you like with your own home

If you’re concerned about mobility should you need to move, the high demand for rentals should put your mind at ease. If you ever need to move, renting your home in Orange County will not be difficult and will generate ample cash flow to keep up your mortgage, property tax, and insurance payments.

If you have a good credit score and money available for a down payment, now is the time to buy a home.

We know that buying a home can be a daunting process, and we would be happy to answer your questions at a free buyer consultation. Contact us via our website or with the information below:

Markus Brown, BA, SFR
714.299.3400
markus.brown@yahoo.com

Heidi Brown, MBA, SFR
949.280.2912
heidi.brown@yahoo.com

Tustin Preservation Conservancy
350 South B St.
Tustin, CA 92780

We will be there approximately one hour. There are NO RESTROOMS in the hangar.

The house has original hardwood floors and original tile floors. The kitchen and bath are both vintage and it has a cute little dining room off the kitchen. It also has two bedrooms and a large bonus room that you can use as a family room, a hobby room or whatever type of room you’d like. The backyard is nice with a vegetable garden, a mature avocado tree, and a large storage shed. It also has a detached laundry room and a one car garage.

If you’d like more information or to see photos, please visit our website at www.oldtowntustinhomes.com. If you’d like to schedule an appointment to see it, give us a call at 714-299-3400.