It is hard to pick up a newspaper or log on to a computer these days without hearing something about the housing market. Everyone seems to have an opinion as to when the market will recover, and most people do not believe that that will be any time soon.

As housing inventory increases, so has the marketing time. Millions of homeowners who must sell their homes are faced with the option of holding on to the home or dropping the price in hopes to attract one of the few qualified buyers that are out there.

Lowering you asking price can certainly help you sell in a competitive market, but many people do not want to lose money on their homes. For those that have the ability to hold on to the home until values recover, selling with a lease option or lease purchase may be a good choice.

By utilizing a Lease Purchase or Lease Option, you can sell quickly and get full market value for your home. That does not mean you can over inflate the price, but it should help you avoid taking a loss on the home.

There are several benefits of selling with a Lease Purchase. Unlike renting, when you sell with a lease purchase, you get someone who is serious about owning a home. This typically means that they will take better care of your home than a renter would. After all, someday it will be their own!

A key benefit to selling with a lease purchase or lease option is the ability to utilize a triple-net lease. When you do this, the tenant buyer becomes responsible for the maintenance on the house.

In most states, you will still be responsible for major issues, so you will want to get a home warranty. Once youve given the warranty information to your buyer, you should never hear from them about maintenance issues.

Avoiding paying realtor commissions is another advantage of utilizing a Lease Option to sell your home. If you are currently trying to sell by owner and do not have you home listed, you will receive 100% of the sales price when the buyer finally gets a mortgage. Most companies that run lease option programs get 100% of their fee from the buyer. So the monthly rent payment and end sales price are all yours!

If your home is on the market, you can still sell with a Lease Option! Most agents are happy to help you get a deal done today, even if it means deferring their commission for some time in the future. Typically, you will give the agent the first months rent that you receive from the tenant, as well as the commission that you have already agreed on when the buyer finally qualifies for the mortgage.

Using innovative strategies is essential in todays competitive real estate market. By selling with a lease option, you can sell quickly and receive full value for your home.

As the real estate market continues to tighten, homeowners are having difficulty selling their homes quickly and for fair market value. Rather than take a loss on their home, many are choosing to sell with a Lease Option or Rent to Own contract.

The need to sell a home quickly can arise for multiple reasons. Perhaps youve built another home, assuming that you would be able to sell your existing home by the time it is complete. Or maybe youve accepted your dream job in a new city. The bottom line ” you need so sell, and fast!

Unfortunately, selling your home quickly and for a good price isnt as easy as it once was. Many of todays qualified buyers are looking for steep discounts due to the abundance of distressed sales on the market.

Fortunately, there is an alternative to a traditional sale. Using a Lease Option or Rent to Own contract, you can sell your home for full value quickly!

There are three reasons that it makes sense for sellers to sell with a lease option in today’s market.

Asking Price If you must move quickly, there is a good possibility that you will have to take a loss.

By selling with a lease option, you can get full market value for your home.

The potential buyer who wants your home cannot currently get a loan. But, they want to own a home and are willing to pay fair market value to get it. Unlike a buyer who qualifies for a loan today, getting a foreclosure at a steep discount just isnt an option for them.

The situation is a win-win. You get your asking price for your home and they get to move in now!

Payments Now! There are few things more frustrating that making a payment on a home that is sitting vacant.

You can avoid this financial stress by selling your home with a lease option. Not only do you get someone to cover all of your expenses, but you also get someone who will take great care of your home. After all, they expect it to be theirs one day!

It beats Renting! Many sellers end up doing a straight rental on a home when they can not sell it. While this is better than letting the home sit vacant, it is not the best alternative.

Career renters likely have no interest in being homeowners. They do not want to plant a garden or buy curtains. And they certainly do not want to do the mundane tasks like changing air filters. In general, they just dont want the responsibility of caring for a home.

People who Lease Option a home have a different agenda. They are willing to work to become a home owner. It is important to them. They want a home to care for and as such will care for your home like it is their own. Because that is how they will think if it!

In summary, when you need to move quickly, selling your home with a Lease Option can be an excellent choice. Why not give it a try?

The Howard Jarvis Administration was the driving force in implementing Proposition 13 which put a cap on propety taxes in the state of California. As a result, of Proposition 13 California Homeowners had to find new ways to finance government community improvements in their neighborhoods like streets, schools, parks, etc. The Mello-Roos Community Facilities Act of 1982 was enacted by the State legislature, the Act created Community Facilities Districts (CFDs) to be established as a way of obtaining this crucial community financing.

Mellow-Roos Property Taxes is different for each Community Financial District. Typically, an adopted method that relates to the residence size which is based on the square footage or lot size is utilized to ascertain the amount of specific assessment. So a smaller house in a community will pay less than a larger residence in the same community. Generally, the special property tax and assessments do not exceed 1% to 1.5% of the market value of new homes. Also, the total quantity of all yearly property taxes generally does not go above 2% to 2.5% of the residence’s taxable property base value. When you lower your taxable base value or in other words, your propety tax you will save a significant amount of money especially, if you have Mellow-Roos Taxes on your home since of the increased percentage in property taxes you pay.

In California thousands of homeowners in many urban areas have lost in excess of $200,000 in market value on their homes and paying 1.25% in property taxes they will save at least $2,500 per year for every year they keep their home! Yet, that same taxpayer at a 2% property tax rate because of Mellow-Roos taxes will save over $4,000 every year in property taxes! If you are paying Mellow-Roos and have lost $200,000 since you bought your residence and let’s say you plan to own your residence for the next 10 years, you will save $40,000! Don’t settle for Proposition 8 the temporary decline in property taxes, its only temporary. Learning to PERMANENTLY lower your taxable base value in California is the key to saving thousands over the course of your home ownership which is disclosed in the California Little Black Book.

Frequently Mellow-Roos Property Taxes are applicable to newly built neighborhoods like large scale Planned Unit Developments (PUD) where there have been many new houses built in a short period of time and the taxes are needed to create city services. Ive seen Planned Unit Developments that had upwards of 5,000 homes built! So, the county and city municipalities need to scramble for funding to establish the roads, sewage systems, schools, recreation centers, parks and so much more. Prior to buying a residence with Mellow-Roos property taxes you will be informed in the beginning negotiation stages of buying the house and while in escrow that these property taxes apply. You will never be blind sighted by Mellow-Roos Taxes, it is required that you are notified prior to purchasing.

About the Author: Valerie Faltas, Property Tax Expert has been involved in all facets of real estate for over ten years including assessments, appraisals, estates and trusts, investing and much more. She is a Certified Property Tax Appraiser, Licensed Residential Appraiser and a member of the International Association of Assessment Officers. As a real estate investor and advisor she is well versed in all aspects of real estate. To contact Valerie Faltas go to her website: www.propertytaxlittleblackbook.com.

First of all let me define PUD: PUD stands for Planned Unit Development. A PUD is essentially a single family home and the ownership of the residence is legally treated that way. The biggest difference is that a PUD is part of a community, part of a larger development similar to a condo. Even though you will own your home if its a PUD you will pay an association fee per month to maintain community areas which usually include parks, pools and sometimes recreation rooms. The association regulates community improvements so if you want to make major improvements to your home or want to paint your house you will need the homeowners’ association’s approval. Since a PUD is basically a single family home that is also part of a larger neighborhood you are liable for your own repairs and maintaining your own homeowners insurance because you own your own land and own building.

A condo and townhouse are essentially the same thing, in terms of legal ownership there is no difference. Generally, the differences between these two terms refer to the architectural style in which they are built. Often, a condo is more of an apartment style building whereas a townhouse looks like an independent home that may or may not have attached walls to the rest of the townhouses in the community. However, in terms of legal ownership they are the same. When you purchase a condo or townhouse what you are purchasing is cubic airspace of a specific unit with an undivided interest in the common elements of the property. The common elements referring to the lobby, swimming pool, recreation area, land, etc. What you technically own is airspace, you dont actually own any land or building for that matter.

Every condo and townhouse community has a homeowners’ association and that association is responsible for maintaining the grounds, structures and systems of the complex. That is the reason the association fees are pretty high. You wont need homeowners insurance though because this is part of what is covered by your association. Unlike owning a house where you may have a huge repair to do every five years, you pay monthly and the money accumulates with the association and then is used when needed to maintain the community and all of the structures. If you are looking into purchasing a condo or townhouse it is important to find out about the association. If the association is bankrupt you will have problems in the future with the value of your condo and with any repairs that the community may need.

A Co-Op (short for Cooperative) is also called an Own-Your-Own is unique in its own right. Structurally a condo and co-op often look the same, like an apartment you own. A co-op is where the building itself is a corporation that holds title to realty. If you are an owner, you own stock in the corporation and you are granted the right to occupy as a shareholder. Co-ops like condos have an association that handles the community building and grounds. Along with the association is a monthly association fee to maintain the community. When you own a co-op you wont need homeowners’ insurances because the association covers it. Cooperatives are common on the east coast. Sometimes getting a loan for this type of real estate can be challenging in an area like Los Angeles where cooperatives are not common.

A home also referred to as a single family home or single family residence is the simplest type of ownership to understand. When you own a home you own the structure and land beneath it and have full rights to the entire property. You are also fully liable and responsible for repairs since the buck stops with you. You need to make sure you have your own homeowners insurance and are able to cover repairs the home may need. There is no association to handle problems. Consequently there is no association fee that goes along with owning a single family residence.

When you are shopping for a home, condo, co-op or PUD know that there are FOUR costs you need to factor into your monthly overhead: mortgage payment, property taxes, homeowners’ insurance and association fee. Your mortgage payment is only the beginning!