Hope Leitner, Realtor®, CRS

   Information is brought to you by Hope Leitner Berkshire Hathaway HomeServices California Properties Studies have shown that looking at certain colors can impact your mood, so if you’re looking to brighten your days, look at the walls. Orange This color boosts social connection, so paint a wall in your living room or kitchen a vivid orange and enjoy deeper, longer, joyous conversations. Yellow This sunny color is one of the most obvious mood brighteners, and there are many shades of yellow soft enough for an entire room. Green This earthy tone is a stress reliever. Roll it onto the wall across from your bed and smile your way into sleep. Violet This royal hue fosters creativity and intuition. Add it to your home office for more satisfaction in your work life. Fuchsia While this color is a tad bright for most rooms, fuchsia accent walls can still splash around enough of the color to make an impact.

"How long do I have to keep this stuff?" is the usual question you ask yourself when feeling that you are running out of room for all this "paper" that may never be needed.   The paper receipt you get from your fast-food lunch may go directly into the trash.   The prudent consumer may keep it to reconcile it with their monthly statement and then, trash it.   The natural hierarchy with receipts and documents associated with purchases is that as the price or value goes up, the more important it is to keep them.   The question becomes "but for how long?" The following table will give you an indication on how long certain documents related to your home need to be kept according to best practices of tax professionals.   IRS recommends that records are kept for three years from the date the taxpayer files their original return or two years from the date the tax was paid, whichever is later.   There is no time limit in the case of fraud or failure to file a t...

There is a little-known provision in the tax code that allows homeowners to rent their principal  residence or second home for up to 14 days a year without having to recognize the income.   In this situation, the taxpayer does not deduct the rental expenses associated with the income. There is no restriction on how much you earn.   If your first or second home is in a desirable area where people are looking for short-term rentals, it could provide a windfall to the homeowner. In cities where any big sports championships are played, there could be a market for a temporary rental of a home.   Events like PGA tournaments, college basketball tournaments, Bowl games, NFL playoffs and others can create a demand for this type of rental. For instance, there are people in Augusta, Georgia who rent their homes during the Master's Golf Tournament each year.   There are not a lot of hotel rooms in the area relative to the number of people who usually attend in non-pan...

Before you pay cash for a home, ask yourself if there is a possibility, at some point in the future, you might put a mortgage on the home and would want to deduct the mortgage interest on your federal tax return. Current federal tax law allows homeowners to deduct the interest on up to $750,000 in acquisition debt used to buy, build or improve a property.   When a person pays cash for a home, the acquisition debt is zero.   The only way to increase the acquisition debt is to make and finance the improvements to the home. As with many IRS regulations, there are exceptions to this rule.   If a mortgage is secured on the first or second home within 90 days of the purchase closing, the debt is considered acquisition debt.   The interest on the funds used to purchase the home can be deducted on up to $750,000 of the mortgage balance. Assuming a borrower has good credit, the ability to repay the loan and the home justifies the loan, lenders are willing to make mortga...

brought to you by Hope Leitner Berkshire Hathaway HomeServices California Properties For many of us, mom’s ‘use-it-up, make-it-last, wear-it-out’ mantra was our introduction to thriftiness—a traditional value that has largely been kicked to the curb due to a more materialistic lifestyle. But the truth is, most of our common throwaway items have not yet reached their full potential. Here are a few smart re-uses that will help keep junk out of landfills and make our life a little easier: Banana peel as silver polish.  Run the peel through the blender with enough water to make a paste. This makes a great silver polish when applied with a washcloth and rinsed off with water. Citrus peels as freshener . Burnt smell in the oven? Freshen the air by baking a few orange peels for a few minutes at 350 degrees. Or throw a few peels in a jar with some white vinegar. In a day or two, you’ll have a great-smelling and effective all-purpose cleaner. Lastly, lemon peels that are run through the gar...

  brought to you by Hope Leitner Berkshire Hathaway HomeServices California Properties Should You Refinance Your Mortgage? Sometimes people take out a mortgage and are forced to accept less-than-favorable terms because of a low credit score or a high debt-to-income ratio. In other cases, homebuyers choose a mortgage that has a fixed rate for a specific number of years and then convert to an adjustable rate. That can save money in the short term, but when the interest rate is recalculated, monthly payments can skyrocket, causing homeowners to struggle to meet their obligations. If you’ve been having trouble covering your monthly mortgage payments, refinancing the loan could be the solution. Refinancing could allow you to lock in a lower interest rate and significantly reduce your monthly payments. Lower Costs If your interest rate is higher than you’d like, refinancing your mortgage might lower it. A decrease of one or two percentage points could shave hundreds of dollars off your m...

  brought to you by Hope Leitner Berkshire Hathaway HomeServices California Properties Few household maintenance routines pay off better than checking out your central air conditioning unit before the hot weather sets in. Preparing the unit for heavy duty now will not only save on energy costs, but will up your chances of staying cool all summer and avoiding an emergency service call. Air conditioning experts suggest these routine tips for ensuring trouble-free performance: Turn off power to the unit . Turn off the switch and unplug the unit to allow for safe handling. Clean or replace the filter . Most likely located behind the air return grille on the wall or ceiling in a central part of the house, the air filter can accumulate dirt, dust and allergen particles over the winter months. This makes the system work harder than it needs to, and costs in terms of efficiency and utility dollars. If the filter is disposable, replace it, and keep a couple more on hand for replacement ever...

 This  information is brought to you by Hope Leitner Berkshire Hathaway HomeServices California Properties How to Organize Your Garage A garage is an excellent place for storage, but things are often put there and forgotten. This can result in a disorganized mess that makes it difficult to find room for vehicles and other important items. If your garage could use some organization, you need a strategy. Get Help and Make a Plan First, realize that organizing a garage is a task that will take a lot of time and effort. Set aside at least two consecutive days and find people to help you. Dividing the work among several people and multiple days will make it more manageable and less stressful, which means you will be more likely to get it done. When organizing your garage, you need a plan. You can work out the details and make changes along the way, but having a general idea of what should go where and which items you can get rid of will help you avoid feeling frustrated and ov...