Moms ❤ Yorba Linda

MOTHER’S DAY is nearly here in Yorba Linda, and that means a WONDERFUL day of celebration for everyone, especially the city’s nearly 23,000¹ children and their moms. That’s a lot of heartfelt hugs and kisses, hand-drawn cards, flowers, gifts, and just-slightly-burnt-toast breakfasts in bed!  

Many of Yorba Linda’s residents moved here because it is such an ideal place to raise a family. With California’s 24^th-lowest city crime index ranking², award-winning schools, proximity to southern California landmarks and attractions, and quality lifestyle, Yorba Linda’s appeal to families is one of the strongest in Orange County.

Pride of home ownership and a strong sense of community are also cherished qualities of many Yorba Linda neighborhoods. Summertime block parties, neighborhood book clubs, Bunco groups, preschool play groups, and walking and hiking groups are just some of the activities residents enjoy together.

Moms especially, both workforce and stay-at-home types love it here. There are seemingly endless family resources and choices for their children’s enrichment as well as their own within the city boundaries:

Activity Centers - Year-round youth activities and enrichment classes, including fine arts, dance, theater, music, summer camps, and sports.

• Yorba Linda Community Center
• Travis Ranch Activity Center
• Thomas Lasorda Jr. Field House

Annual Community-wide Events

• Eastlake HOA Holiday Boat Parade
• Fiesta Days Parade
• July 4^th Celebration @ Valley View Sports Park

Award-winning Schools

• Placentia-Yorba Linda Unified School District

Equestrian Activities

• Phillip S. Paxton Equestrian Center
• Riding trails throughout the city
• Yorba Country Riders

Golf Courses

• BlackGold Golf Course
• YorbaLinda Country Club

Grocery Stores & Markets

• Albertsons
• Main Street Saturday Farmer’s Market
• Sprouts
• Stater Brothers
• Trader Joe’s
• Vons

Libraries & Museums

• Richard M. Nixon Presidential Library & Museum
• Susanna Bixby Bryant Ranch Museum and Garden
• Yorba Linda Library

Music & Fine Arts

• McCoy Rigby Conservatory of the Arts
• Mosaic Music
• The Music Lab
• Southern California Youth Philharmonic
• Yorba Linda Spotlight Theater

Parent Support Groups

• MOMS Club – Moms Offering Moms Support (Central and East YL)
• North Orange County MOPS – Mothers Of Preschoolers
• North OC Mommies

Parks  & Playgrounds

• Arroyo
• Box Canyon
• Brush Canyon
• Bryant Ranch
• Eastside Community
• Fairmont Knolls
• Hurless Barton
• Jean Woodard
• Jessamyn West
• Las Palomas Tennis
• Roland E. Bigonger
• San Antonio
• Shapell
• Travis Ranch Youth
• Veterans
• Vista Del Verde

Preschools - Huge variety of choices, including non- and for-profit organizations, Montessori, academic and faith-based.

Youth Groups

• Boys & Girls Club
• Boy Scouts
• Girl Scouts
• YMCA
• Faith-based - Most Yorba Linda religious organizations offer family and children’s programs representing many faiths, including Buddhist, Christian, Jewish and Muslim.

Youth & Adult Sports and Outdoor Activities

• Youth Baseball
• Bowling
• Youth Football
• Golf
• Youth Gymnastics
• Hockey
• Ice Skating
• Equestrian
• Youth Lacrosse
• Martial Arts
• Youth Soccer
• Youth Softball
• Swimming
• Tennis
• Walking/Hiking/Biking trails

Thinking about moving your family to Yorba Linda? Feel free to call me if you have questions about the community or would like to begin your search for a home. I’ve lived in this wonderful city for over 15 years and would love to show you around!

Nanette Shapiro

(714) 924-0781

nanette.shapiro4@gmail.com

www.homesbynanette.com

¹2010 US Census http://quickfacts.census.gov/qfd/states/06/0686832.html

²USA.com http://www.usa.com/rank/california-state--crime-index--city-rank.htm

This list is not an endorsement of the featured programs and services, and is by no means exhaustive but meant only to serve as a sample of area amenities.

What Do Home Buyers Want?

LAST MONTH I wrote about getting the most out of your springtime remodeling choices when it's time to sell your home. Some projects make your life more comfortable and convenient, and some will also contribute to a higher selling price later.

But let's say you're going to sell in the near future and want to add some updates to further enhance the appeal of your property. What are buyers looking for in today's real estate market?

Buyers' Wish List

The National Association of Realtors recently conducted a survey of home buyers to learn just what features they look for in their search for a home.

Topping the 2013 list of features:

• Central air conditioning
• New kitchen appliances
• Large clostes
• Extra storage space

Interesting to note, more than half of home buyers undertook an improvement project within three months of their home purchase, and most of those projects were in the kitchen. Also, nearly half of all home buyers felt that a laundry room was an important feature for a property to have.

The next question to ask yourself: How much to spend to fulfill the wish list?

Keeping Up With The Joneses

On April 28, 2013, USA Today's Samuel Weigley reports in his 24/7 Wall St. column that home buyers are "willing to pay for some desirable extras, but they may not be willing to pay as much as you think."

If your soon-to-be-listed property doesn't already boast the "latest and greatest" amenities, think well on the return you'll get for the dollars you plan to spend. It's important to be competitive with the neighbor's house for sale down the street. If their kitchen has granite counter tops, new or updated cabinetry and stainless steel appliances, you would be wise to swap out your old tile counter, worn out cabinet facings and mismatched appliances for new materials and finishes to create a fresher appeal for buyers. You don't have to spend a small fortune, but you should spend smartly!

Save Those Receipts!

Don't forget: Any major improvements you make can potentially be added to your property's basis, which will help you out at tax time. Save receipts and any other project records, and/or consult your tax professional before you start a project if you have any questions or doubts about how to treat the expenses when it comes time to file.

Feel free to call me if you have any questions about the home features popular right now in Yorba Linda or other areas of Orange County!

Nanette Shapiro

(714) 924-0781

nanette.shapiro4@gmail.com

www.homesbynanette.com

ORANGE COUNTY REAL ESTATE: What time is it?

By now, the fact that today’s mortgage rates are at historical lows is old news. Although lending rules have tightened in recent years, for buyers who do qualify for financing one could assume it’s a great time to be in the market to buy a home. In truth, it IS a good time to buy, however people shopping for Orange County real estate are seeing the impact of unprecedented market pressures that have made home buying today a challenge.

ECONOMICS 101: Supply & Demand

The laws of Supply & Demand affect virtually every type of goods or service you can imagine. The main thing to remember is this: Shortage = Higher Price, Surplus = Lower Price; High Demand = Higher Price; Low Demand = Lower Price.

In Orange County real estate, we’re experiencing a supply and demand “Double Whammy”:   both a shortage in the supply of and an increased demand for homes in the area.  The resulting higher prices buyers are willing to pay and the combined slim pickings are making it much tougher for typical buyers to find a home they can afford. What’s more, additional outside pressures are driving up home prices further.

LOWER SUPPLY

So what brought all this about? First, there are fewer short sales on the market compared with last year to compete for buyers’ attention.  Last week, real estate industry analyst DataQuick released March numbers for California, showing that short sales continue to decline, as do foreclosures, suggesting a healthier economy with fewer people in financial distress.

Second, many potential sellers are sitting on the sidelines waiting to see how far prices will increase, hoping to eventually maximize their profits. While that’s an understandable strategy, they run the risk of timing it wrong and missing their opportunity.  

Case in point:  in recent years there have been fewer new homes on the market in north Orange County because of both limited sites and home builders waiting for the market to improve. That time may be upon us as we are already seeing activity with new construction sites in Yorba Linda and Brea. This additional inventory means more competition for existing home sales, and more competition can mean lower prices.

HIGHER DEMAND & CASH SALES

Another factor driving up home prices is the undeniable fact that Orange County is a great place to live and people want to buy here to enjoy the lifestyle.  But there’s more:  Recent changes in lending laws that have made it more difficult for some buyers to acquire financing leave them with cash as the only way of competing with a bid on a home. That can end up excluding a lot of first-time buyers. Historically, the majority of cash buyers have been retirees or others who are ready to down-size and have cash in hand from the sale of a larger family home.

Another group of cash players on the rise in Orange County are investors and foreign buyers who see this real estate market as a good place to park their liquid assets. Home values have been rising at a rate that offers these buyers a better return than they can find on other investments.

What’s more, cash buyers can pay whatever a seller asks because cash transactions side-step the appraisal process required in bank-financed purchases. Banks won’t loan money for a purchase that is too far above their predetermined market value limits. Appraisals serve to protect lenders and keep home prices from fluctuating wildly. Unrestricted cash sales eventually influence neighborhood prices and are factored into the analysis of comparable sales that banks use to set those upper limits on loans. 

HOW FAR WILL IT GO?

With over two decades of Orange County real estate experience, I can tell you that today’s market conditions are NOT the norm. And while most experts would agree that it’s a seller’s market right now in Orange County, one thing we can all count on is for the market to eventually change. Low interest rates will not stay low forever, and real estate investors may one day take a hard look at their rental properties, deciding to liquidate them in search of higher returns elsewhere. Supply goes up, price goes down, and the pendulum swings to back to the buyer’s corner.

For DataQuick’s 2012 overview of Orange County individual zip code performance, click here.

Feel free to contact me if you have questions about buying or selling your home in Orange County!

Nanette Shapiro 

714-924-0781 

nanette.shapiro4@gmail.com

DRE #0143577

Homeowners Cheer For PYLUSD Schools

Last week three campuses in the Placentia-Yorba Linda Unified School District received the California Distinguished School award:  Yorba Linda Middle School, El Dorado High School, and Yorba Linda High School.  Schools that are invited to apply for the award must meet federal and state accountability measures based on the Elementary and Secondary Education Act (ESEA) and the Academic Performance Index (API) requirements. Those schools that go on to actually win the award demonstrate “education excellence for all students.”

If you’re a parent with a student at any of these schools, congratulations! You already know your child is getting a first-class education, but official validation is always a bonus. And if you’re a resident living near these schools, whether or not you have children that attend them, you have much to celebrate, too!

When Schools Win, We All Win 

It’s true. Research has consistently shown a direct correlation between neighborhood home values and the performance of the local school district. In fact, the National Education Association in their report “K–12 Education in The U.S. Economy” cites up to a 10% difference in value between a house in a high-performing school district and the same house in a lower-performing district. Called “capitalization,” it’s a situation where a neighborhood asset adds to a property’s overall value.

PYLUSD Earns High Marks

There are 23 elementary, seven middle schools, and seven high schools in the Placentia-Yorba Linda Unified School District. Since the state education awards program first began in 1986, more than 75 percent of PYLUSD schools have received either the California Blue Ribbon or Distinguished School designation. Even more impressive is that a full 95% of all PYLUSD graduates go on to pursue a college degree. Who wouldn’t want to live in an area where education results in such impressive achievements?

To read the California Department of Education press release and see the entire list of Orange County schools that were recognized this year, click here.

Nanette Shapiro 

714-924-0781 

nanette.shapiro4@gmail.com

DRE #0143577

Make the Most of Home Improvements

The home improvement industry invariably launches into its busiest time of year each spring. The weather is more cooperative for work outdoors, plus many homeowners are eager to spend the annual windfall from their income tax refund on needed repairs or major upgrades. Aside from making home life more comfortable and enjoyable, home improvement projects can also improve your property’s future resale value. There are a few things to consider as you build your springtime “to-do” list.

WHERE TO BEGIN?

The list of project possibilities around the house can seem endless, and deciding what should have priority can be a challenge. Should you fix the leaky faucet or add on a bathroom? Paint the peeling exterior trim or update the kitchen? Most experts would agree that repairs and maintenance projects should come first in order to keep your home habitable. After that, larger remodeling or replacement projects like a kitchen update, home office, extra bathroom or bedroom, or even a swimming pool can be considered, and preferably with an eye on future returns. Important factors in your decision include your immediate needs and wants, how long you plan to live in your home, and of course, what you can afford. If selling your home in the not-too-distant future is a possibility, then the focus should probably be on projects that can translate into a better selling price.

GET THE MOST FOR YOUR MONEY

The National Association of Realtors and Remodeling  magazine recently published the informative “Cost vs. Value Report 2013” in which a variety of home improvement projects are evaluated based on cost and return on investment (ROI). The chart here illustrates the top ten projects covered by the report. Why do these projects have such a high cost recovery? Because they tend to improve a property’s “curb appeal” and increase its perceived value in the eyes of a prospective buyer!

SAVE THOSE RECEIPTS

Remember that the cost of major home improvements (versus normal repairs and maintenance) can factor in calculating the basis of your home when it's time to sell. The basis consists of the sum of the property’s original purchase price + purchase costs + improvements + selling costs – any depreciation taken (like the home office deduction). Subtract the basis amount from the final selling price to determine your final gain or loss, and that is the amount used to calculate any capital gains tax owed from the sale. You can see why, along with your mortgage records, it’s important to keep receipts and any other paperwork related to all major improvement projects as long as you own your home.

For more information about the basis of assets, read IRS Publication 551.

Nanette Shapiro 

714-924-0781 

nanette.shapiro4@gmail.com

DRE #0143577

The information provided here is not guaranteed and you should always consult with your tax professional before making any financial decisions that could affect your tax liability.

Tax Season For Homeowners

It's Tax Season for Homeowners!

Spring is in the air, and for most of us that also means it is tax season. Without a doubt, planning and preparation are the two best tools to ensure you don’t pay more than your fair share at tax time, and nowhere is this more relevant than in real estate. Whether you’re a buyer or seller, real estate transactions can trigger a variety of tax situations. Depending on how well you plan and prepare will determine your tax outcome for the following year, and especially the year when you sell your property.

TAX ISSUES FOR BUYERS

Aside from providing a place to live and a retreat from the daily "grind," home ownership affords a number of immediate well-known tax advantanges:

• Mortgage interest and loan points are deductible on both primary and second homes.
• Mortgage insurance premiums may be deductible.
• Property taxes are deductible on primary and second homes.
• Home offices may be tax-deductible.

Keep in mind, however, in 2013 buyers with income exceeding the threshold of the "Pease Limitation" ($250,000 single; $300,000 married/jointly) could find their mortgage interest deductions reduced.

TAX ISSUES FOR SELLERS

Home sellers can typically expect to pay tax of 15-20% on any gains over the first $500,000 on their primary residence if married filing jointly, or $250,000 if filing singly. The final rate is determined by your income level and filing status. But how are gains calculated?  The IRS states:

“To figure the gain or loss on the sale of your main home, you must know the selling  price, the amount realized, and the adjusted basis. Subtract the adjusted basis from the amount realized to get your gain or loss.”

Your property’s basis factors any improvements you’ve made (not general repairs required from normal wear and tear) such as room additions, interior modernizations, landscape improvements (sprinkler systems, fencing where none previously existed, swimming pools, etc.), and heating and air conditioning, electrical, plumbing or insulation upgrades. Some energy-saving improvements can also qualify for a tax credit. 

With all the improvements you'll likely make over all the years you'll own your home, it is VERY important to keep accurate records of these expenditures for as long as you own the property. This little bit of planning and preparation will help you accurately calculate the property's basis when it is eventually sold.

On a final note, you should be aware that Congress passed new legislation for 2013 that imposes a 3.8% tax on certain gains, including real estate, for individuals with adjusted gross income above $200,000 or couples filing jointly with income above $250,000. For more detailed information, visit the Internal Revenue Service website or read IRS Publication 530 – Tax Information for Homeowners.

The information provided here is not guaranteed and you should always consult with your tax professional before making any financial decisions that could affect your tax liability.

Nanette Shapiro

714-924-0781

nanette.shapiro4@gmail.com

Saint Patrick's Day Remembered

How Saint Patrick’s Day Works For Me

During this year’s unseasonably warm and sunny Saint Patrick’s Day, I was reminded of a fine Celtic pastime and traditional game-turned-art-form: golf.  Yes, golf as far as anyone knows originated in 15^th century Scotland, not Ireland, and yes, Saint Patrick’s Day commemorates the arrival of Christianity on the Emerald Isle in the early 5^th century (not the game of golf).  But few places on the globe were as golf-perfect this last Saint Patrick’s Day as was Yorba Linda.  As an observer of avid golfers from my long membership in the Yorba Linda Country Club, I knew it was golf “go time” for certain.

The Yorba Linda Country Club opened in 1957 and has a rich history much like Yorba Linda itself.  The 18-hole regulation course is located in the heart of Yorba Linda, very close to the Nixon Library and from the longest tees it presents 6,834 yards of golf for a par of 71.  The course was designed by renown golf course expert Harold Rainviille in the old fashioned vein; keeping the terrain natural.  Bermuda fairways stand in harmony with peaceful water features, elevated greens, and well-placed bunkers.  For the serious golfer’s information and to verify the world class nature of the grounds, this is for you: the course rating is 73.2 with a slope rating of 130. For those of you who don’t necessarily know what that means, let’s just say it means a fantastic golf experience in a neighborhood country club setting.  In short, Yorba Linda Country Club embodies more of the same “retreat at home” experience I shamelessly brag about in this blog; where no other city in Southern California can compare.  A near perfectly balanced game of golf awaits you in a near perfectly balanced community.

Yorba Linda Country Club is not just for the experienced golfer, I should note.  As an example “Get Golf Ready” is a special program offered by the club which is designed to help the new or returning golfer develop fundamental skills and a love for the game.   My game, tennis (more on the amazing tennis program I’ll cover in future blogs), is thoroughly enjoyed on the country club grounds as are many other events.  For more information about this Southern California landmark, stop by the Yorba Linda Country Club at 19400 E. Mountain View Avenue, Yorba Linda, CA  92886, visit www. http://www.yorbalindaclub.com or call (714) 779-2461.  If you are looking to wisely make your home (or sell to those who want to make their home) in Yorba Linda, contact me. 

Nanette Shapiro

714-924-0781

Nanette.shapiro4@gmail.com