Financing Vacation Homes

It's not as easy as it was in 2005 to finance a vacation home purchase - but still possible. This New York Times article provides all the details:

http://www.nytimes.com/2011/05/01/realestate/01mortgages.html?_r=1&ref=realestate

Interested in purchasing a vacation home? We can help.

Judy Clarke
The Clarke Team
Bay Area Real Estate
650-489-5399
sold@clarketeam.com

New Year’s Resolution: Remodel the Bathroom?

From the House Values Home Essentials Newsletter of January, 2011: It’s no secret that bathrooms are a popular room to remodel—because of outdated features, different decorating taste from the previous owners or simply normal wear and tear on a very functional room of your home. If the New Year has you thinking about remodeling a bathroom, here are a few things to consider:

• Timely or Timeless Style - Before you remodel, picture what it will look like in a couple years when you sell your home. Will you still enjoy that trendy sink? Make sure future buyers will, too. Otherwise they’ll factor in the cost of their own remodel when making an offer.


• Costs—Good News - Right now many contractors are eager for work, and prices are lower for their materials and labor, so now may be an ideal time to make your bathroom more livable.


• Resale Value - You may have heard during the housing boom that bath remodels add value to your home. These days you can recoup about 64% of the costs of a minor bathroom remodel, according to Remodeling magazine’s “2010-11 Cost vs. Value Report.” If your bathroom is especially in need of updates, you may recapture more.


• Too Much? Think Small - If you’re not ready for a full remodel, then a fresh coat of paint, new towels and a pretty framed print can do wonders to update your bathroom—and give you a new look for 2011.

Remember: you and your family are the ones using your bathroom on a daily basis, so think about whether it makes you feel good when you brush your teeth every morning.

If you’d like more information about how a remodel can affect the value of your home, please don’t hesitate to call or email.

A B Trust rules are changing for 2011

The new laws signed in December, 2010 for tax relief and job creation contain many tid-bits for estate planning. Now each individual has a $5 million combined exemption for estate and gifts. There is also a new tax rate of 35% which applies to both. A married couple is allowed "portability" or the chance to share their $5 million each for a possible total exemption of $10 million. Whew - my head is spinning already! So glad I have a great estate tax attorney who can help me understand all these changes. Need a referral? Contact me and I would be happy to provide. Judy Clarke The Clarke Team Bay Area Real Estate 650-489-5399 sold@clarketeam.com