Looking for a luxury home in the Riverside Real Estate market?

Property Description:

Move in condition. Super clean and updated. Lots of privacy. Newer kitchen counters, 20″ Tiles on floor. New carpet in some rooms. Huge Great room w/fireplace. Ceiling fans in almost every room. Open Floor Plan. Lots of fruit trees, Large detached patio, Horse Property. Included 40″ Storage Container for Toys, or Tools.

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Looking for a luxury home in the Riverside Real Estate market?

Property Description:

BACK ON THE MARKET WITH AN APPROVAL FROM THE BANK AT $440,000! This is a magnificent estate in an exclusive area of Mockingbird Canyon. The full one-acre lot is completely developed and wonderfully suited for an executive who entertains, with large outdoor patios, a barbecue area and panoramic views. The interior is highly upgraded and very luxurious with a large guest room and bath downstairs, and a bonus room upstairs. The owner’s suite is a treat with a large jacuzzi-style tub, dual vanities and an over-sized walk-in closet. Two upstairs bedrooms are joined by a Jack and Jill bath, another has its own bath and the laundry room is also conveniently located upstairs near the bedrooms. The large 4-car garage has a pass-through door to the backyard and there’s PLENTY of driveway parking for guests. What a great opportunity to own a fabulous home for a bargain price!

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Located on a ½ Acre Lot with a huge deck that’s perfect for the BBQ and family gatherings, this home features a spacious floor plan that includes a formal dining room and living room with a fireplace! The Master Bedroom boasts a Walk-In Closet.

Indoor Laundry hook-ups, Stove, Dishwasher, Central Heating and New Air Conditioner further compliment the home. Pets OK. CALL NOW!

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Taxpayers taking advantage of the $8,000 first time home buyer credit or the new $6,500 home purchase credit for existing homeowners have been waiting for the IRS to post an updated home purchase credit form on its website for months. Now that the IRS has posted the revised Form 5405 on irs.gov, eligible taxpayers can now start claiming their home buyer tax credits.

Revised Form 5405 & Proof Needed for Federal Tax Credit
Anyone who wishes to claim a federal tax credit for home purchase should first fill out Form 5405, First-Time Homebuyer Credit and Repayment of the Credit. Then, they should attach one or more documents as proof of a qualifying purchase.

Documentation Needed for First-Time Home Buyers
First-time home buyers must provide the IRS with proof of purchase. The IRS indicates that one of the following documents must be attached in order for a federal tax credit for home purchase to be processed correctly:

•Copy of Form HUD-1 (Settlement Statement) or similar document that shows all parties’ names and signatures, the property address, sales price, and date of purchase.
•Copy of the executed retail sales contract (in case of mobile home purchases) that shows the same information.
•Copy of the dated certificate of occupancy (in case of new construction) that shows the owner’s name and property address.
Additional Proof Required for Existing Homeowners
The Worker, Homeownership, and Business Assistance Act of 2009 (H.R. 3548) not only expanded the first-time homebuyer tax credit, but also opened up a new $6,500 tax credit for existing homeowners.

Existing homeowners are eligible for a $6,500 tax credit if they have lived in their old house for five consecutive years out of an eight-year period ending on the purchase date of the new house. In addition to the documentation requirement above, taxpayers who fall into this category must also provide proof of the five-year residence with mortgage interest statements, property tax records, or homeowner’s insurance documents.

Important: Anyone who wishes to claim a first-time or existing home buyer tax credit must file paper returns because certain paper documents must be attached to the returns as proof of purchase.

New Home Buyer Tax Credit – Downloading 2009 Form 5405 Instructions
Unlike previous versions of the document, the instructions for revised Form 5405 come in a standalone PDF document. Revised Form 5405 (otherwise known as the “2009 version,” or “2009 Form 5405”) is available separately.

Here are direct links to revised Form 5405 and its instructions:

Revised IRS Form 5405 (2009 version)

Instructions for Revised IRS Form 5405

Obama Tax Stimulus – $6,500 & $8,000 Home Buyer Tax Credit Form
Currently, the old version of Form 5405 is no longer available on the IRS website. The 2009 version of Form 5405 should be used to claim tax credits for house purchases made in 2009 or 2010 (filed with original or amended 2008 or 2009 tax returns).

Assuming no changes are made to the form between now and the next filing season, this same form may also be required for home buyer tax credits claimed on 2010 tax returns.

New Form for $8,000 & $6,500 Tax Credits – Processing Delays
In a January 15, 2010 announcement (IR-2010-006), the IRS indicated that tax returns with attached Forms 5405 would be processed beginning sometime in mid-February 2010. The IRS mentioned a need to first test its systems for compliance with new tax laws and make sure important fraud detection systems were in place before any home buyer tax credit forms are processed. Anyone who files their return with attached Form 5405 and proof needed for the federal tax credit should expect any anticipated refund to be delayed while the IRS double-checks its systems.

Looking for a home in the Riverside Real Estate market?

Property Description:

WOW!WOW! LOCATION*LOCATION*LOCATION… 50k PRICE REDUCTION FOR QUICK SALE!!! NOT A SHORT SALE, NOT A REO!!! Cozy single story home in highly desired area of Riverside! GREAT neighborhood on tree lined street! Large spacious lot with HUGE pool and spa! Covered porch and patio! Hardwood floors! Tile counter tops! Newer Aluminum roof! New cooper piping throughout! Newer Pool equipment including pool heater. Purchase to include appliances including refrigerator! Garage is insulated, paneling on walls and has A/C unit. Charming home waiting for your buyer’s family. Don’t miss out on this GEM, it won’t last! CHARMING*CHARMING*CHARMING

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Since buying a home is most likely the biggest and most complex purchase you will ever make in your life, it is vital that you choose a real estate agent that can help make the transaction go as smooth as possible. When interviewing a real estate agent, here are 5 straightforward questions that you should ask:

• How long have they been licensed as a Realtor?An inexperienced real estate agent may be fine for easy transactions, like condos or townhouses. But for most transactions, you want to look for a real estate agent who has a minimum 5 years of experience. It’s not too difficult to become a licensed real estate agent. It’s staying licensed and staying in the real estate industry for at least five years that demonstrates a strong commitment to the profession.
• Does the Real estate agent do this as a part-time or full-time job?While all agents have to start somewhere, working with a part-time real estate agent may not be in your best interests. Part-time real estate agents have other obligations that can get in the way of giving you full time attention
• How much of a real estate education does the real estate agent have behind them?Although designations and college degrees are not needed, there are very few agents that have industry designations or a college degree. Getting one or the other, or both may show the real estate agent’s devotion to their expertise.
• How accessible is the agent?Does the agent have office hours? Can you call them at home? Do they quickly respond to emails? Buying real estate can be a hectic experience. With lots of surprises along the way, you’ll want an agent that’s easily accessible if you need to reach them.
• Take note if the agent is good listener.Do they butt in before you’ve finished a sentence? There’s nothing worse than wasting time looking at houses you have no interest in because the agent has not listened carefully to your needs.

Looking for a luxury home in the Riverside Real Estate market?

Property Description:

Are you sick and tired of the same old humm drum tract house? Bored with cookie cutter details and flat walls? Have you ever dreamed of being different than all of your neighbors? Then THIS is the home for YOU! A fabulous vine covered trellis leads the way to your wood-shingled entry way. Once inside, the open floorplan encompasses the kitchen, dining room and sunken living area which leads out to a covered patio and raised planter beds. You will love the rustic columns throughout! Formal living room, a bathroom for every bedroom, two fireplaces, and a master balcony that wraps around almost the whole house! There is an entire basement apartment, complete with bathroom and kitchenette which is not permitted , so not included in the square footage of the house. Access from inside or outside means room for all of the teenagers, or a separate rental unit. Set in a quiet little neighborhood with tree-lined streets. Come and see and fall in love with your new home.

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Beautiful Woodcrest Home for sale in the Riverside Real Estate market.

Property Description:

This exclusive Woodcrest home has views at every angle. Spacious Gourmet kitchen w/ double oven, granite countertops, custom 20~ tile flooring w/ granite inlay, walk in pantry. High ceilings throughout, French doors, Great room, Unique octagonal dining room, Upgraded maple cabinets throughout. The Large Master retreat features a Double door entry, Private Fireplace, Whirlpool tub, Large Walk-in closet, and private entrance to back patio. Featuring a unique outside pool shower and bathroom with changing area, a roomy 4 car garage ~-with extra high clearance and tandem parking for a large boat. Gated RV parking w/ sewage and electrical lines run to it. Covered patio in the backyard w/ exterior fans. The front has a courtyard area w/ fountain and a circular driveway. Pool size yard with outside shower and dress area. Side yard ready to build your own dream backyard, all acreage is usable space; plenty of room for basketball/tennis courts, etc.

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Discouraged about all the new Fannie Mae and Freddie Mac financing Guidelines, I chose to look into some kind of alternative home loan financing for second time home buyers and investors in the Riverside Real Estate market. Great news! After searching through the Internet, I found an excellent program that is offered by Fannie Mae. It’s HomePath mortgage, and it’s only offered by Fannie Mae Bank Owned residences. I’ve included a few details below:

• Second Home/Investment requires a ten percent down payment! (Practically every loan requires 20-25% down!)
• Owner Occupied is a 3% minimum down payment; however, California requires 5%.
• No Appraisal Required! Property is acceptable as-is!!!
• No Private Mortgage Insurance (PMI)! That means you can buy a more expensive home!
• Less than perfect credit is acceptable (typically, you will need at least a FICO of 660+).
• 1-4 unit homes, Condo’s, PUD’s, Modular, and Manufactured (Double Wide) are all satisfactory.
• Fixed Rate, ARM, Interest Only, 10yr, 15yr, 20yr, 25yr, and 30 yr options.
• Up to 6% seller concessions! (2% for investors)
• Down Payment can be a gift, a grant, or a loan from a nonprofit organization, state or local government or employer.
• Up to 10 financed homes are all right (5-10 residences require 6 months in reserves for each property you own plus the one you want to buy).
• Conventional Rates.

I hope this article has been useful to investors and home buyers who do not qualify for an FHA home loan.

Looking for an affordable home in the Riverside Real Estate market?

Property Description:

Wonderful home in Orange Crest area. seller has upgraded this home with granite counters, crown molding, designer paint, beautiful wood floor and designer carpeting. Master suite with sitting/retreat area and master bath, all downstairs. Family room with fireplace is open to the kitchen to make a great room and hub for the house. Formal living room/ dining room opens to the formal entry. Upstairs are 3 more bedroom and a huge bonus room that had been closed to be a separate room (it could be a 5 bedroom home). 3 car garage. Large lot 9,148 sq ft with great fruit trees and concrete patio and pathways (spa not included in sale). This is a short Sale and subject to lender approval. Mello Rous Community Facilities District Bond, paid with property taxes is apx $1,170 per year.

View this property: Riverside Home for Sale