Mortgage and Real Estate Investment Blog

As many of you know, I am a softy for the critters. I used to volunteer with the San Francisco SPCA training dogs and monitoring dog “play group” with the pups (and yes, that is as fun as it sounds!) Now that the Oregon Humane Society has a new building, they are offering classes to the public to help people and their pets get along better and lead happier more fulfilled lives. OHS offers many varied classes for dogs from puppy class to dealing with “reactive” dogs (you know these, the ones that bark at every other dog they see). They also offer classes for “finicky felines” and Tellington Touch or T-Touch, which is a kind of animal massage which is supposed to calm animals, help with the healing of injuries and generally improve the bond with your pet. SFSPCA offers many classes for the public as well. If you are having any pet issues or just want to understand what is going on in your critter’s mind, check out some of these courses. Your “best friend” will thank you.

The mortgage market, as I am sure you have heard, has been a roller-coaster ride. The beginning of this year has continued the streak. Attached to the federal government’s economic stimulus plan is a provision to increase conforming loan limits (currently $417,000) to 125%-150% of the median home price with a cap between $625,000 and $730,000, depending on which version becomes law.

Although 30 year fixed rates have fallen recently, jumbo rates have been stuck at around 7%. Secondary market interest evaporated with the subprime meltdown and only a few large banks have offered jumbo loans, but at higher rates. By allowing more homeowners to qualify for “conforming” loans, this should allow people to refinance and avoid the costly adjustable rate mortgage resets that have perpetuated the issues in the marketplace.

This month’s mailer is about taxes and using your home as your largest tax deduction. It also has reminders for all of the data and paperwork that you will need to complete your taxes. I highly suggest, for most people, that you have a specialist prepare your taxes. One person I just spoke to received an extra $2800 for the past two years because her tax person itemized her deductions. She had not itemized because it hadn’t made a difference on her federal taxes, but it made a huge difference on her state taxes. Another friend of mine was working with a preparer who charged her $1700 for her personal taxes.  Now THAT is ridiculous!  Unless you are filing an EZ form, a professional will likely save you more than their fee. If you don’t know a great tax preparer, I would be happy to recommend one.

All my best!

Kelly