Hope Leitner, Realtor®, CRS

It is a misdemeanor to act as a contractor while working under a suspended license. Any advertisement for unlicensed work is only legal if the aggregate contract price for labor and materials is less $500. This law provides that, unless exempted, it is a misdemeanor for a person to engage in the business of, or act in the capacity of, a contractor while his or her license is suspended. The Contractors’ State License Law presently provides that it is a misdemeanor for any unlicensed person to advertise for construction or work of improvement unless that person states that he or she is unlicensed in the advertisement.   This law additionally prohibits an advertisement for construction work or a work of improvement by an unlicensed person unless the aggregate contract price for labor, materials, and all other items is less than $500, and the work or operations are casual, minor, or inconsequential. Senate Bill 315 codified as Business and Professions Code §§7011...

Consumers cannot be forced to waive right to make critical or disparaging statements about a business. This law prohibits a contract or proposed contract for the sale or lease of consumer goods or services from including a provision waiving the consumer’s right to make any statement regarding the seller or lesser or its employees or agents, or concerning the goods or services. It imposes civil penalties upon any person who violates the provisions of the law, of $2,500 for the initial violation and $5,000 for each subsequent violation, as well as an additional penalty of $10,000 if the violation was willful, intentional, or reckless in actions that may be brought by the consumer, the Attorney General, or a district attorney or city attorney. It does not prohibit or limit a person or business that hosts online consumer reviews or comments from removing a statement that is otherwise lawful to remove. Assembly Bill 2365 codified as Civil Code 1670.8. Effective January 1, 2015. ...

Often, homeowners try to “test the market” with a higher than fair-market price when first listing their home. That can be a poor marketing strategy. When your agent tries to talk you out of it: Listen!  Setting “too high a price” will be too high a price for you to pay in the end. Results from too high an initial price Lowering your price after listing causes a chain-reaction in the marketplace that reduces the status of your listing. In the eyes of other agents that might bring buyers your way, a price reduction raises red flags. Here’s the short list: You miss the critical first 14 days when buyers and agents are most interested in a new listing. Other agents may dismiss you as an unreasonable seller that would be difficult to work with. Your home can no longer compete with other new listings fresh on the market, particularly if they are more fairly priced for your market. Buyers may think something is wrong with the home. They may press for more concessions, dis...

Owning a home can pay off at tax time. Take advantage of these home ownership related tax deductions and strategies to lower your tax bill: Mortgage Interest Deduction One of the neatest deductions itemizing homeowners can take advantage of is the mortgage interest deduction, which you claim on Schedule A. To get the mortgage interest deduction, your mortgage must be secured by your home - and your home can be a house, trailer, or boat, as long as you can sleep in it, cook in it, and it has a toilet. Interest you pay on a mortgage of up to $1 million - or $500,000 if you're married filing separately - is deductible when you use the loan to buy, build, or improve your home. If you take on another mortgage (including a second mortgage, home equity loan, or home equity line of credit) to improve your home or to buy or build a second home, that counts towards the $1 million limit. If you use loans secured by your home for other things - like sending your kid to college - yo...

These hypothetical examples are illustrations for educational purposes only and are not an offer to lend nor a Good Faith Estimate. Examples are for a $250,000 home that rose to $275,000 with a rate increase from 4.50%/4.762% APR to 6.50%/6.95% APR on a zero point 30-year, fixed-rate loan with a 20% down payment, $4,000 in taxes and annual insurance of $580 for the "today" example and $638 for the "tomorrow" example. APRs are calculated using closing costs equal to 3% of the loan amount. Actual costs can be less, and actual rates are subject to change at any time. Qualification for any loan is dependent on individual circumstance and subject but not limited to employment/income, credit history and acceptable liquid assets to close. First time home buyers currently have a historical advantage with both low rates and prices. What happens when the trend begins to shift? You might not qualify to purchase the same house. Unless your income keeps pace with price a...

Focus on the positive and remain consistent in working toward your goals.  Let's make 2015 a good year!    Here Are 12 Steps to a Positive New Year! Stay Positive.   You can listen to the cynics and doubters and believe that success is impossible or you can trust that with faith and an optimistic attitude all things are possible. Take a morning walk of gratitude.   I call it a "Thank You Walk." It will create a fertile mind ready for success. Zoom Focus.   Each day when you wake up in the morning ask: "What are the three most important things I need to do today that will help me create the success I desire?" Then tune out all the distractions and focus on these actions. Talk to yourself instead of listen to yourself.   Instead of listening to your complaints, fears and doubts, talk to yourself and feed your mind with the words and encouragement you need to keep moving forward. Don't chase dollars or success.   Decide to make a...