Category Archives: Investing in Real Estate

Buying a Home, Investing in Real Estate, Selling a Home

Interview with Teryn Bonime

 

Who do you work with most?

I work with a great diversity of clients from sophisticated investors to first time home buyers.  The majority of my clients are referrals from past clients who refer me to their friends and associates.

What are your strengths and areas of expertise?

My background in project management has helped me hone my skills at keeping often complicated transactions on track and on time.  I have also focused heavily on negotiating skills.   (Both by having taught negotiation courses and my own continuing education.) This has resulted in consistently saving my clients time and money. Communication is also king whether face-to-face, on the phone, via email or text—whatever it takes to keep my clients informed on a timely basis.  Knowledge of current/past inventories and market trends is also critically important to stay current with what is happening daily.  Last but certainly not least is marketing–which is marketing your house to buyers and/or marketing your offer to sellers. read more

Buying a Home, Home Improvement, Home Trends, Investing in Real Estate, Selling a Home

What Do First-Time Buyers Want?

A recent issue of Realtor Magazine noted that first time home buyers make up roughly a third of the buyers who will hit the market this year, and that number keeps growing. They are a little younger than the repeat buyers who currently dominate the market and they are thriftier.  At a median age of 31 (versus a repeat buyer who is on average 53), their average income is $70,000. They also have a different set of priorities. read more

Buying a Home, Home Trends, Investing in Real Estate, Real Estate Trends, Selling a Home

Ventura County Homes Sales: 7/30/16 – 8/6/16

11 homes in Ventura sold in the last week.

Average list price was $759,873 with a sold price average of $736,154 which translates into a 97% list price to sales price ratio.

For properties sold below $500,000, the average sale was 98% of asking.

For properties sold vetween $500,000 and $800,000, the average sale was 96% of asking. read more

Buying a Home, Finances, Home Improvement, Investing in Real Estate, Selling a Home

How Long Should You Keep Financial Records

As a general rule, keep in mind the following:

Taxes; Returns; Cancelled checks/receipts (alimony, charitable contributions, mortgage interest and retirement plan contributions); Records for tax deductions taken: Seven Years

  • The IRS has three years from your filing date to audit your return if it suspects good-faith errors.
  • The three-year deadline also applies if you discover a mistake in your return and decide to file an amended return to claim a refund.
  • The IRS has six years to challenge your return if it thinks you under reported your gross income by 25% or more.
  • There is no time limit if you failed to file your return or filed a fraudulent return.

IRA contribution records: Permanently

If you made a nondeductible contribution to an IRA, keep the record indefinitely to prove that you already paid tax on this money when the time comes to withdraw. read more