Life in Walnut Creek, Lafayette and surrounding areas: February 2009

Located within the Northgate School District of Walnut Creek, this 2 Bedroom/2.5 Bath townhouse will attract those with an active lifestyle! It has been nicely updated and has an ideal location close to shopping, dining, schools, trails, freeways and BART. The complex offers greenbelts, tennis courts, clubhouse and pool. For more information, please give me a call!

 

As Realtors, we face personal situations that we don't often share or blog about.  This is a personal, human interest story that I felt was worth my time in hopes it might make a difference in someone's life. 

  My husband was diagnosed with spinal stenosis in his 2nd and 3rd lumbar region.  This is when the spinal cord is being pinched off and resulting in severe leg pain and numbness...in my husband's case...down the back of his legs.  He had a series of 3 epidurals in which he had temporary relief for a few weeks.  He finally decided he couldn't live with the pain and the longer he waited, the greater the risk of further injury to his spinal cord.  He went to one Orthopedic surgeon and he recommended a couple of spinal fusions.  The recovery time would be months!  He was desperate and in so much pain, he agreed to the surgery.  As days went by and we began to share his upcoming surgery with family and friends, the more horror stories we began to hear about in regards to spinal fusions!  The news and their experiences were not encouraging!! 

He called the surgeon and told him he wanted to discuss other alternatives and that he did NOT want the fusions.  The doctor told him he would not do the surgery unless he had the fusions done!  This raised our eyebrows, but in all fairness to the doctor, it's probably what he totally believed was the best remedy for my husband.  Needless to say, we opted for a second opinion.  This surgeon felt, in his professional opinion, that a fusion would not be necessary.  He said he has had great success with a procedure called Lumbar Microsurgery.  This procedure is done through and with a scope and the best part...recovery would be a few DAYS at the most...barring no complications.  Well, as you can imagine, this was music to our ears and knowing this surgeon's reputation, this was a no-brainer decision for us!  We did wonder why this procedure wasn't mentioned as an alternative from the first surgeon, but we later learned that not too many surgeons in this area are skilled or trained on this procedure.  We also learned that some don't believe in it.  At least we had more information and could now make an informed decision.

I'm happy to report that my husband has had this Lumbar Microsurgery operation and is doing great!  He went in for this 4 hour surgery at 11:00 am and I brought him home at 8:30 pm that SAME day!  Other than the slight soreness of his 6 inch incision, he is pain-free!  The surgery was a success and I will be forever grateful to this surgeon for giving me my happy-go-lucky husband back! 

This story is not intended to talk negative about the first surgeon or the fusion procedure itself.  Doctors are only human and they make decisions based on their professional knowledge of a situation.  It's merely a reminder that it never hurts to get a second...third...or fourth opinion when you hear a doctor say 'you need surgery'! 

(The way in which I described Spinal Stenosis and Lumbar Microsurgery may not be the proper, medical descriptions.  It's explained how I understood it!)

The following video contains a market update on the current, active market for detached, single family homes.  Walnut Creek, CA is located in the East Bay and offers outstanding schools, fine dining, upscale shopping, recreational activities, cultural arts, theatre and so much more!  There's a good selection of available homes at great prices!  For more information on this sought-after community, please give me a call.

 The following is some basic information we know so far about the Economic Stimulus Plan.  It will take 2-3 months to understand how it will all fall out and if it will truly be a REAL Stimulus Plan. 

There are four primary sections of the 2009 economic stimulus plan that could be very beneficial

if you own or are buying a home.

 

Benefit #1 - Expansion of Home Improvement Tax Credit

The tax credit for making energy efficient home improvements is now 30% of the cost of the

improvements up to a maximum of $1,500. This means that if the improvements cost you $4,500,

you would receive a tax refund of $1,500 when you file your tax returns. Eligible improvements

include energy efficient exterior doors and windows, insulation, heat pumps, furnaces, central air conditioners and

water heaters. Generally, your home improvement contractor and/or the manufacturer selling the improvements issues

a certification that clarifies whether the improvements meet the necessary standards for energy efficiency. Most

modern windows, furnaces, and air conditioners meet these requirements. If you've been holding off on making some

of these improvements, now is a great time to get a move on it - especially with all the great deals that are being

offered!

Benefit #2 - Expansion of First-time Home Buyer Tax Credit

The tax credit available to first time home buyers was increased from $7,500 to $8,000 for homes purchased between

January 1, 2009, and December 1, 2009. Also, the credit no longer needs to be paid back as long as you live in the

home without selling it for at least 3 years. The previous version of the credit expired on July 1, 2009, and required

home buyers to pay the funds back over a 15 year time frame.

The income limitations remain the same ($75,000 for single tax payers claiming the full credit and $150,000 for married

tax payers), as do most other qualification requirements. Also, the credit remains refundable. This means that first-time

home buyers who owe less than $8,000 in taxes for the year are still eligible for the full $8,000 credit when they file

their tax returns. In that case, the IRS will write you a check for the difference between $8,000 and your actual tax bill.

In fact, the credit can be claimed on your 2008 tax returns that you file by April 15, 2009, even if you buy the home in

2009.

There is one catch, however: if you bought the home in 2008, the credit remains $7,500, and it still needs to be paid

back over a 15 year timeframe beginning in 2011 when you file your 2010 returns.

Benefit #3 - Higher Reverse Mortgage Loan Limits

The loan limits for FHA-insured reverse mortgages have been increased to $625,500 across the entire country - not

just the higher cost areas. The previous limit was $417,000 across the country. This is especially important because

the FHA program is virtually the only game in town as private and jumbo reverse mortgage programs have nearly all

evaporated.

This coincides with another little-known change in the reverse mortgage arena: the availability of reverse mortgages on

home purchase transactions. This is a fantastic opportunity for senior citizens to buy a new home and live mortgage

payment-free without having to wait for their old home to sell. Seniors could also use this strategy to buy a new home

and turn the old home into a rental or otherwise wait for market conditions to improve before trying to sell the old home.

Benefit #4 - $729,750 FHA and Conforming Loan Limits Restored in High Cost Areas

The $729,750 maximum loan limit had been in force throughout 2008, but was reduced to $625,500 in 2009. The

economic stimulus plan restores the $729,750 maximum. This makes higher cost homes more affordable - especially

in the coastal housing markets that tend to have higher than average home values.

It is always advisable to consult with a Certified Mortgage Planning Specialist TM (CMPSR) when navigating today's

turbulent mortgage and real estate marketplace. As a CMPSR professional, I am committed, qualified and equipped to

help you evaluate your mortgage options!

To ensure compliance with requirements imposed by the Internal Revenue Service, we inform you that any U.S. federal

tax advice contained in this communication (including any attachments) was not intended or written to be used, and

cannot be used, by any person for the purpose of (i) avoiding tax-related penalties or (ii) promoting, marketing or

recommending to another person any transaction or matter addressed in this communication. Also, it is important to

note that I am providing this information to you as your mortgage planner, in order to make you aware of some of

interesting ideas that may benefit you. I am not an investment, tax, or legal advisor, and this information does not

constitute legal, tax or investment advice. I definitely recommend that you consult with properly licensed legal, tax and

investment advisors for specific advice pertaining to your individual situation.

Standardizing the mortgage planning process through participation with the CMPS community of experts.

 

If you would like more information, please feel free to give me a call.

This information was granted permission to share with you by Kristen Marr, The Home Loan Group

The following short video is a highlight of the day I got to spend with my Great Niece, Sofia Eve, while we were on vacation. Good friends and family are very important to me and capturing those moments are one of life's little treasures! Time passes too quickly and thank goodness for today's technology that allows us to save and share these special moments forever! Don't keep your sweet memories to yourself...capture and share them with family and friends!