Home Sweet Home (Especially at Tax Time)

Planning to buy a house? It’s one of the smartest decisions you can make—and not just because you’ll be creating a wonderful home in the location of your choice. It’s because homeownership has many tax benefits as well.

Homeowners may receive benefits from Uncle Sam when they purchase or sell a home, and tax advantages may even accrue during the period you own a home. That's why many people consider homeownership to be the ultimate tax shelter.

Here are just three of the possible tax-saving opportunities for homeowners*:

• Mortgage interest deductions. Interest paid on a mortgage on a first—or even second—home is deductible for those who itemize. That reduces the cost of ownership. For example, someone who pays $10,000 in mortgage interest and who falls in the 25% tax bracket could save up to $2,500 in taxes each year. Generally, all the interest paid on a mortgage is deductible, unless the loan is more than $1 million.
• Real estate tax deductions. Property taxes based on the assessed value of your home and paid to a state or local government can be deducted—whether you pay directly or through an escrow account. Your bank will provide you with a statement of the actual amount it paid. Also, remember to look at your settlement statement if you recently purchased a home. Any prepaid taxes for which you reimbursed the seller are deductible as well.
• Capital gain exclusion for the sale of a home. Under current law, if you are selling your principal residence, you can exclude from taxation any profits up to $500,000 for married taxpayers or $250,000 for single taxpayers.

Call our CENTURY 21 Adams & Barnes office today so we can get you on the path to the home of your dreams.

* Consult a tax professional for details.

CENTURY 21 Adams & Barnes Walks for Hope

The CENTURY 21 Adams & Barnes residential sales team has registered once again for Walk for Hope (Sun. Oct. 25, 09) because we refuse to let this terrible disease affect anymore people than it already has.

Now we need your help.

Like you, we all know of someone who has felt the impact of cancer in their lives and perhaps you've "What can I do to help them." Walk for Hope supports breast cancer research, treatment and education at City of Hope, an amazing place that is saving lives every day.

Walk for Hope is a national breast cancer walk that supports breast cancer research, treatment and education at City of Hope, a National Cancer Institute-designated Comprehensive Cancer Center. The event is family oriented and a great way to get involved in the fight against this terrible disease.

Please support the CENTURY 21 Adams & Barnes team and City of Hope's work. By doing so, YOU are helping to make a difference in so many lives.

BTW: Did you know that more than 200,000 new cases diagnosed of breast cancer are diagnosed each year? That means another 200,000 of our mothers, sisters daughters and friends and all their loved ones will be affected by this terrible disease.

Small donations add up to make a big difference. Just "Click Here" button - you can't miss it - and make a tax-deductible donation. It's that easy and it's that important.

Whatever you can give will help - it all adds up! We greatly appreciate your support and will keep you posted on our progress.We hope to see you on the big day with your jogging shoes.

Thank you!

The CENTURY 21 Adams & Barnes Walking for Hope Team

CENTURY 21 Llc. Recognizes Joe Garcia & Karen-Taylor Straley for Sales Achievement & Performance

Monrovia, CA / September 01, 2009 — The management at CENTURY 21 Adams & Barnes presented REALTORS® Joe Garcia and Karen Taylor-Straley with CENTURY 21’s Pacesetter Gold Award at a recent company sales/marketing meeting. The award, which recognizes Sales Achievement and Performance for the first half of the year, is a good indicator of agents who will receive top CENTURY 21 Honors at the end of the year.

“Karen (Taylor-Straley) and Joe (Garcia) approach everything they do with passion and professionalism. Over the years, each has worked to become fixtures within their service area in the San Gabriel Valley.” said General Manager Hugo Torres of CENTURY 21 Adams & Barnes. “Our real estate family could not be more proud of both Karen and Joe for their significant production thus far and the high customer marks the consistently achieve.”

Karen has been a long-standing real estate force in the San Gabriel Valley. For over 20 years she has represented clients who habitually come back to her for their real estate needs. Believing that civic affairs are an important part of the community, she has served as the President of the Monrovia Chamber of Commerce and Past-President of Monrovia’s Kiwanis Club. Over the years, Karen has ammased countless CENTURY 21 Llc. awards for production and customer satisfaction.

Joe Garcia has quickly made a name for himself in the real estate community. His intimate knowledge of Historic properties in the San Gabriel Valley gives his clients the advantage of working with a Real Estate professional who understands the uniqueness and value that every address possesses. Joe Garcia’s civic involvement has broadened the scope of his knowledge and this grants his clients a proven practitioner that can maneuver and coordinate through a transaction efficiently.

Joe and Karen continue to set eye-catching production levels and high customer satisfaction marks.

Located at 433 West Foothill Boulevard, CENTURY 21 Adams & Barnes is a full service brokerage specializing in residential, commercial and luxury properties. For more information about Joe Garcia and/or Karen Taylor-Straley, contact us today at 626.675.0658 or visit us on-line at www.c21ab.net

Welcome Edda Hudson (Broker-Associate) to our Real Estate Family

The management at CENTURY 21 Adams & Barnes is thrilled to welcome long-time industry trailblazer Edda Hutson to our realty family.

With over 21 years of experience in the field, Edda has amassed and impressive string of awards, accolades and production benchmarks.

"Edda has been a friend of CENTURY 21 Adams & Barnes for a long time and it is exciting that we'll now have the opportunity to work together" said Broker/Owner Tom Adams at a recent marketing meeting

A resident of Monrovia, Edda has specialized in San Gabriel Valley residential sales for decades and has been awarded much industry and brand recognition over the years. In 1998, after 5 consecutive years of earning CENTURY 21's CENTURION award, Edda was inducted into the brand's Hall of Fame and has been in its CENTURION Honor Society ever since.

Personally, Edda keeps busy with six grandchildren and a garden.

To speak with Edda today, contact our office at 626.358.1858 or visit us on-line at http://www.c21ab.net/

Tips for Sellers Competing Against Foreclosures and Short Sales.

If you’re trying to sell your home, you already know it’s a challenging market. Not only are there a lot of other homes on the market competing with your house, but some buyers are finding it difficult to obtain mortgages. Plus, with distress sales—foreclosures and short sales—accounting for half of all home sales in some parts of the nation, it’s hard to compete on price alone.

There are things you can do, however, to better make your home stand out. Here are some tips:

Price Your House Right. This is probably the most important thing you can do. With the market so competitive these days, buyers will completely ignore your home if it’s not priced realistically. Buyers today don’t care what your neighbor sold his home for a few years ago. A realistic, fair market price—or even a price slightly lower than fair market value—is the best way to attract buyer interest. This is where a qualified real estate agent can provide invaluable assistance.

Get Out Quick. Short sales are notorious for being, well, not short. Banks may take months to evaluate a short sale offer, and the potential buyer is left waiting helplessly during this time. By offering a fast closing, however, a buyer—who perhaps has children she wants to enroll in school—can move in and get settled quickly. That’s a huge advantage over waiting for a short sale to be approved.

Offer Curb Appeal “Plus.” Foreclosures often need substantial repairs because they’re frequently abandoned by their owners. Often, they are sold “as is” by the banks that own them. A home that is in move-in condition can save a buyer time and money. Consider doing some minor renovations or improvements to update your home and make it more attractive to potential buyers.

Call CENTURY 21 Adams & Barrnes today for more tips to sell your home. Recently we have found the our listings are typically seling in less than 14 days when price and marketed correctly.