http://www.justlistedsandiego.com/ Search All San Diego Homes and Real Estate for Sale en-US http://blogs.law.harvard.edu/tech/rss FAQ's What is "Expanded HAP"? A. Congress created in the HAP program in 1966 (see Section 3374, Title 42 United States Code) to financially compensate eligible military and civilian Federal employee homeowners when the real estate market was adversely affected directly related to the closure or reduction-in-scope of operations due to Base Realignment and Closure (BRAC). The Army Corps of Engineers runs it on behalf of all the military branches. The American Recovery and Reinvestment Act of 2009 (ARRA), Public Law 111-5, expanded the HAP to provide assistance to: Wounded members of the Armed Forces (30% or greater disability) and wounded Department of Defense (DoD) and Coast Guard civilian homeowners reassigned in furtherance of medical treatment or rehabilitation or due to medical retirement in connection with their disability; Surviving spouses of the fallen Base Realignment and Closure (BRAC) 2005 impacted homeowners relocating during the mortgage crisis; and Service member homeowners undergoing Permanent Change of Station (PCS) moves during the mortgage crisis. How do I apply? A. Visit the HAP web site: http://hap.usace.army.mil/ and download the application package. Complete the application and mail to the U.S. Army Corps of Engineer District responsible for the area in which your home is located. Will the application packages be handled in a first come first served manner? A. Applications will be processed as quickly as possible according to eligibility in the following order: Wounded, Injured, and Ill. Within this category, applications will generally be processed in chronological order of the wound, injury, or illness. Surviving Spouses. Within this category, applications will generally be processed in chronological order of the date of death of the member or employee. BRAC 2005 Members and Civilian Employees. Within this category, applications will generally be processed in chronological order of the date of job elimination. Permanently Reassigned Members of the Armed Forces. Within this category, applications will generally be processed beginning with the earliest report-not-later-than date of PCS orders. If I am eligible, what should I do after I mail in my completed application?A. Each individual's situation is unique. Contact the CoE District office where your home is located for assistance. What rights do I have if I am not satisfied with decisions made regarding Expanded HAP? A. You have the right to appeal any decision denying benefits or contesting the amount of benefits allowed. No particular format is required. Simply submit a written statement of your objections to the district office. The appeal will be reviewed at the district level. If favorable action cannot be taken, your appeal will be submitted to higher headquarters. If a favorable decision cannot be made at this level, a final decision will be made by the Deputy Under Secretary of Defense (Installations and Environment). What are the specific eligibility requirements for Permanent Change of Station (PCS)? A. PCS refers to the assignment or transfer of a member to a different permanent duty station (PDS), to include relocation to place of retirement, under a competent authorization/order that does not specify the duty as temporary, provide for further assignment to a new PDS, or direct the military service member return to the old PDS.To qualify, a service member must have: owned home prior to July 1, 2006. have PCS orders dated between February 1, 2006 and September 30, 2010 be reassigned to a new duty station or home port outside a 50-mile radius of the member's former duty station or home port. The orders must specify a report-no-later-than date of on or before February 28, 2010. These dates may be extended to September 30, 2012 at the discretion of the DUSD(I&E) based on availability of funds. suffered at least a 10% home value loss between July 1, 2006 and date of application for Expanded HAP benefits for the county/parish/city in which the primary residence is located, and 10% decline of personal home value loss from the date of purchase to date of sale. Will my Expanded HAP benefits be taxable? A. No. President Obama signed HR 3548, Unemployment Compensation Extension Act of 2009 into law and thereby exempted Expanded HAP benefit payments from taxation. Payments to military members are not subject to social security or Medicare taxes. Tax documents will be certified by the HQUSACE Finance Center, and distributed to applicants and the Internal Revenue Service (IRS) on an annual basis. Who pays the closing costs when the government purchases a home under the Expanded HAP? A. The Government will pay for title services to close the transaction, and any other allowable closing costs. Will I have to bring any money to closing? A. If you occupy your home until or nearly until the closing date and have not made payment for the month, you will be responsible for interest due for the previous month plus year-to-date real estate taxes. If I rent my house before I sell it, will it impact HAP benefits? A. No. Rental income is not deducted from benefit payments.Is there any information I should include in the lease regarding the Expanded HAP?A. Make certain the lease agreement contains the following clause: "If the leased premises are approved for purchase by the United States of America under the Homeowners Assistance Program, pursuant to P.L. 89-754 and P.L. 111-5, the Lessor shall have the right to terminate this lease by providing to the Lessee either a 30 or 60-day written notice to vacate the premises." I had a contract to purchase my home prior to July 1, 2006, but closed after that date, do I qualify?A. If you are a Military PCS eligible applicant and were under contract to purchase prior to 1 July 2006 and closed after that date, you would qualify. For applicants eligible as Wounded, Injured or Ill and Surviving Spouses the requirement to purchase the primary residence prior to July 1, 2006 does not apply. Will HAP assign me to a realtor? No, it is the responsibility of the homeowner to find their own realtor. HAP recommends finding a local realtor familiar with the HAP process. In San Diego, the Trident Realty Group is owned by two former Marine Corps Captains and has helped over a dozen local military with their HAP transaction. You can contact them at 858.756.9287 or email at: TridentRE@gmail.com http://www.justlistedsandiego.com/homeowners-assistance-program-hap-now-helps-san-diego-military-who-receive-pcs-orders <p>http://www.islanddivine.com</p>What better way to enjoy springtime in San Diego than a walk along the bluffs above La Jolla Cove with an award-winning glass of wine in your hand, listening to beautiful music drifting along with the breeze? Island Divine is a premier food, wine, spirits and beer tasting event presented by the Junior League of San Diego. Our 10th annual event theme transports you to the beautiful and romantic Greek island of Santorini. For more information about the award-winning wines, unique brews, delicious liqueurs and culinary delights that we'll offer, or to see some of the spectacular silent auction items and packages up for bid, visit http://www.islanddivine.com/. Don't forget to check out all of the special perks that our VIP ticket holders are offered! Buy your tickets online today at http://www.jlsd.org/?nd=island_divine http://www.justlistedsandiego.com/island-divine-la-jolla-cove Governor Arnold Schwarzenegger proposed and extended tax credit as a portion of his job creation initiative to help bolster the real estate market in California. The new tax credit will be for first time home buyers that purchase their home between May 1st and December 31st this year. The tax credit is for 5% of the purchase price up to $10,000. The bill increases the original $100 million dollar cap to $200 million to be provided as a credit to those looking to purchase their first home this year. The tax credit was originally designed to be available for buyers that were purchasing new homes and has been opened up to new and existing homes. For more information regarding the tax credit please go to the State of California Franchise Tax Board . http://www.justlistedsandiego.com/homebuyer-tax-credit-extended-california-legislature 1. What Is A Short Sale? Technically speaking, a short sale is when a homeowner is selling their home at a loss and their lender, or more specifically the lien-holder of their mortgage, agrees to take the loss to prevent a foreclosure. The approval process can be lengthy as the homeowner will need to send their lender a letter detailing their hardship and why it is imperative for the homeowner to sell the home. The approval process can take 90-180 days depending on the lender - generally speaking, if a homeowner owes significantly more than their home is worth, is struggling to make payments, or will be struggling in the future due to an interest rate adjustment, they will qualify for a short sale. 2. How Do I Know If I Can Conduct a Short Sale? This will be answered by the lien-holder(s) of your mortgage. For a successful short sale, you will need both the first trust deed and second trust deed, if applicable, to agree to the short sale. Generally, a real estate expert that specializes in short sales will be able to give you a solid idea if you might qualify. 3. What Are the Benefits Of Selling My Home Through a Short Sale? Avoiding foreclosure and saving your credit. A short sale is much less adverse on your credit score as a whole - the impact on your credit will depend on how the lien-holders decide to characterize the loss as well as how many late payments you may or may not have. 4. What Are The Negative Effects Of A Short Sale? Your credit score will be damaged - according to most sources a short sale will have a negative impact on your credit that can be repaired within 2-3 years. This is a much better than a foreclosure that can have a negative effect on your credit for 5-7 years. 5. Who Do I Need To Assist Me In Completing A Short Sale? You will absolutely need to have a short sale expert on your side. It is best to hire a realtor that has a significant amount of experience handling short sales and one that works with an in house negotiator to handle the often labor intensive job of communicating with the lien-holders and shipping paperwork back and forth. Mike Chiesl and Dan Chapman of Trident Realty Group are short sale experts in San Diego with years of experience. You can contact TRG at JustListedSD@me.com for more info. http://www.justlistedsandiego.com/top-5-most-asked-questions-regarding-short-sales-short-sale-faqs The Villas at La Costa Resort and Spa in the La Costa area of Carlsbad provide owners with a vacation and spa lifestyle up to three months out of each year. However, very few patrons realize the villas also provide a year around investment for owners as well. Some owners are realizing up to a 6% net on their whole investment. From 2004-2006, the resort spent 140 million dollar renovating and rebuilding the resort. The La Costa Resort was quite successful when they launched their whole ownership condominium villas as the entire resort sold out despite being released while the market was ticking down (2006 - 2008). The villas are fractional (limited use) in nature since you are permitted 120 days of usage during the year and may rent them for the rest of the time, either yourself or through the resort. Currently, only resale units are available. One bedroom approximately 1,000sqft units start around 600k while dual master 1,800sqft suites go for approximately 1.1million and floor plans range all the way up to 2,500sqft for approx 1.3million. As of March 2010, all resale units are being offered by the resort's in-house real estate office which has shifted its focus to rental units since selling out the resort for the most part. The one exclusive listing outside of the resort office is being offered by the Trident Realty Group. The Trident Realty Group unit is 7319 Estrella De Mar #17, a dual master floor plan with 1,810 sqft of living space and has three large view decks. The unit is being offered for $1,060,000 which represents approximately a 10% discount from its original sales price. The only model match unit currently on the market is being offered for $1,075,000 making 7319 Estrella De Mar #17 an outstanding value. All units are fully furnished and owners are also provided with the La Costa Villas Signature Sport Membership (a value of $16,500) which allows access to the sport facility and private locker rooms, use of 17 tennis courts, access to the pools and jacuzzis, the Splash Landing Waterslide, preferred pricing on golf, dining, retail purchases, room service and spa treatments and special events. __________________________________________________ If you would like more information about this community or the San Diego coastal housing market in general, please contact me by phone or text at (858) 756-9287 or email me at danchapman@me.com. Please feel free to search for homes on the most advanced MAP searching technology available at JustListedSanDiego.com. http://www.justlistedsandiego.com/carlsbada-039-s-la-costa-resort-villas-provide-investment-and-vacation-opportunities