Igor Nastaskin, Author at Live in the Hollywood Riviera

Three Smart Ways to Find a Home That Fits Your Needs and Budget

If you’re a first-time home buyer, then it’s likely that you’re working with a fairly tight budget. Here are a few simple ways that you can find the right home for your needs at an appropriate price. 1. Run Those Numbers It’s important to know what your budget is before you shop, so you’ll need to sit down and figure out what you can really afford. You’ll need to know what your bank is willing to lend you for a home mortgage so that you can add the expected monthly payment into your list of all definite sources of monthly income and expenses. Don’t forget to include expenses for your particular lifestyle needs because you don’t want to give up everything for a more expensive home. 2. Buy What You Need Pay attention to the specifics of each home that you consider, and don’t settle for something that doesn’t fulfill a real need. If you require a four-bedroom home for a growing family, then you won’t save by purchasing a smaller home that you can upgrade later. It’s expensive to move, so you should try to find a home that will fit all of your important needs for many years. 3. Check Out Every Possibility While your real estate agent will be on the lookout for homes that fit your needs, you shouldn’t limit yourself to just that. Check the classifieds in the newspaper, pick up free real estate magazines and check online sources daily. You never know where you may stumble upon your perfect future home.

Great Ways to Save on Spring Home Improvements

Spring has arrived, and it’s the perfect time of the year to take on home-improvement projects. These can be expensive, but it’s possible to save money while still improving your home. 1. Siding Do a thorough inspection to see how your home’s siding has held up over the winter months. If you find damage, then you can save money by replacing only the damaged section with siding of the same color or painted to match. 2. Gutters When your gutters become overfilled with debris, they can sag, break and cease to function properly. Having your gutters cleaned each spring is costly, but you can save by installing a protective gutter guard. 3. Insulation To keep your home comfortable and save money on your energy bills, check to see if you have the proper amount of insulation for your attic and the underside of your roof decking. Speak with your energy provider about any grants that may be available to help you properly insulate your home. 4. Pests Various rodents and insects may invade your home and cause problems, but you can prevent serious damage by taking steps to rid yourself of these pests at the first sign of their presence. Both live traps and diatomaceous earth are inexpensive alternatives to professional pest-control services. 5. Decks It’s common for your deck to show some peeling after a rough winter. It’s an easy fix, and you can save big by power washing and staining it yourself.

7 Homeowner Tax Advantages

If you are interested in buying a home, you need to know how much you can afford. It’s vital to consider the tax advantages that come with ownership. Below are seven tax breaks that homeowners enjoy. 1. Mortgage Interest Deduction You can deduct mortgage interest and late charges. If you have private mortgage insurance, you can deduct the premiums as well. 2. Home Loan Fees You can deduct interest, including points, origination fees, and loan discount fees. 3. Property Tax Deductions You can deduct real estate taxes paid at your closing and future property taxes. 4. Home Office Expenses If you have a dedicated space in your home you use as an office, you can take advantage of a standard deduction up to $1,500. However, these deductions are highly scrutinized, so be careful. 5. Home Selling Costs It is possible to deduct your selling costs. These include commission, title insurance, inspection costs, legal fees, and similar expenses. If you perform repairs or decorate within 90 days of selling, you may be able to deduct those costs as well. 6. Gains If you resided in your home for two years before selling, you may be able to take a tax-free profit. However, this does not apply to second homes or rental properties. Also, you can subtract any money spent on improvements, including new windows, siding, or kitchen necessities. Routine maintenance does not apply. 7. Green Energy If you added solar panels or other green technology to you home that cuts electrical costs, you may be eligible for residential energy tax credits.

Community Event Saves Lives: 14th Annual Torrance Relay for Life

April 23-24 at South High The statistics from The American Cancer Society are grim: About 1,685,210 new cancer cases are expected to be diagnosed in 2016, with some 595,690 Americans anticipated to die of cancer this year. Cancer is the second most common cause of death in the US, exceeded only by heart disease. The lifetime risk of developing cancer is 42% (almost 1 in 2) in men and 38% (more than 1 in 3) in women. Which is why it’s more important than ever for communities like ours to come together for The American Cancer Society’s Relay For Life movement to raise funds to end cancer. Help the Hollywood Riviera and its surrounding neighborhoods save lives by joining forces the weekend of April 23-24 for the annual Torrance Relay for Life at South High School. With the support of thousands of volunteers, the American Cancer Society is helping save more than 500 lives a day Relay for Life is the world’s largest grassroots fundraising event, with participants in more than 5,000 communities in the U.S. plus countries worldwide. The event raises funds for the American Cancer Society with the help of teams of volunteers who commit to having at least one team member walking on a track at all times over a 24 hour period because cancer never sleeps. Relay For Life honors cancer survivors, pays tribute to those who have lost their lives to the disease, and raises money to fight cancer. With the support of thousands of volunteers, Relay for Live fundraisers assist the American Cancer Society in helping save more than 500 lives a day This year’s Torrance Relay for Life goal is to raise $215,000 for the American Cancer Society. The Hollywood Riviera Sportsman’s Club continues its tradition of fielding a team, with Igor Nastaskin serving as team captain for the 11th consecutive year. Please consider joining the Riviera Sportsman’s Club’s Relay team if you’d like to get involved (women and men are welcome). The team raised more than $12,000 for the American Cancer Society last year, and hopes to exceed that amount this year. Relay for Life began in 1985 with the vision of Dr. Gordy Klatt, a colorectal surgeon in Tacoma, Washington. In an effort to raise funds for his local American Cancer Society, Dr Klatt spent a grueling 24 hours circling the track at the University of Puget Sound, logging in more than 83 miles. Nearly 300 of Dr. Klatt’s friends, family and patients cheered him on as he walked, while others donated $25 to walk 30 minutes with him. Ultimately, he raised $27,000 to fight cancer. The following year, Dr Klatt organized 19 teams to take part in the first team relay event, and a total of $33,000 was raised for the American Cancer Society. Today, Dr. Klatt’s vision is a fundraising phenomenon. Highlights of the Relay for Life are the opening ceremony Saturday, April 23 at 9 am followed by a survivors’ lap at 9:30 am. At 9 pm Saturday, a Luminaria Ceremony will honor survivors as well as those who lost their battle with cancer. The luminarias burn through the night to light the path for those walking to fight back against cancer. You can purchase and decorate your luminaria at the event on Saturday. Entertainment is provided throughout the event, which concludes Sunday at 9:00 am with a closing ceremony. To sign up for the Hollywood Riviera Sportsman’s Club team, or to donate funds to the American Cancer Society, you can make a secure, tax-deductible donation online using the link www.relayforlife.org/torranceca. Once you are on the website you can register yourself as a team member by clicking the “Sign up Now” tab in the upper right portion of the page (to the right of the displayed photo), then “Join the Existing Team” tab and typing in “ Hollywood Riviera Sportsman’s Club” in the search field. Then follow the remaining steps of the registration process. You can also contact Igor at 310-892-6016 or [email protected] for sign ups or donations. Donations are accepted until August 31, 2016, so don’t be discouraged if you can’t make the event. Your gift is tax deductible as a charitable contribution to the fullest extent allowed by law. For more information about the American Cancer Society’s support for survivors and patients, please call them 24/7 at 1-800-227-2345 or visit cancer.org. We hope to see you at South High the weekend of April 23-24 as we pull together as a community to fight back against cancer.

Should Millennials Be Camping-Out at Open Houses?

Many millennials are entering the housing market for the first time. If this applies to you, it is important to learn the best way to proceed. According to Danny Gardner, Freddie Mac vice president, you should be “camping out at open houses.” With the record low interest rates, increased stability of the market, and the boom of millennials, it seems strange first-time buyers accounted for only 32 percent of the market in 2015. This number is down from 40 percent. To get past these statistics, it is essential to debunk a few myths about the market. Many buyers do not realize there are low down payment options available. Although the purchasing numbers may seem low, millennials compromise the largest section of buyers. This group is moving to suburban areas and purchasing single-family homes. Unfortunately, affordable supplies in these locations are limited. This is causing them to search in areas they find financially feasible. Many are turning to the middle of the country, which has low priced homes and good paying jobs. Price is definitely the most important home-ownership factor for millennials. In the future, real estate experts believe this group will be concentrated in metropolitan areas with stable economies. A majority of these homes are located throughout Virginia and Colorado. A shift is occurring with millennials who are buying cheaper properties in areas with improving economies. This group is heavily leaning toward affordable neighborhoods within “expensive” counties. If you join this trend, you may be part of the developing “hipster” subculture.

How Does The Line Of Credit For A Reverse Mortgage Work?

Usually, your mortgage’s principal balance and line of credit grow at the same rate. The balance and line of credit equal the principal. Interest and insurance are charged to to the balance but not the line of credit. However, when you borrow from the credit line, it decreases, and the loan’s balance increases. A reverse mortgage program is often misunderstood. Some people assume the loan balance holds a large chunk of the principal. However, the line of credit grows at the same rate as the loan balance, so a line of credit could accumulate into a large sum if left unused. To explain this concept, is it helpful to work with a relevant example. Think of two different people who take out reverse mortgages with $100,000 principal limits. In ten years, the limits grow to $200,000. One person withdraws the whole $100,000, so his or her loan balance is $200,000 after 10 years. The other person never uses his or her credit, so the $200,000 principal at the end of the 10 years reflects the line of credit’s value. This individual can withdraw the entire $200,000 after 10 years and keep the same loan balance as the first person. Bypassing the accumulation of interest, the second individual receives double the amount of money. Opening a line of credit as soon as possible provides a much higher availability of further credit over what would be received by opening a reverse mortgage at a later time. Not using your line of credit definitely works in your favor. In the future, there may be new limitations placed on line of credit growth potential. Until this point, growth from a reverse mortgage can be a valuable tool that helps supplement your retirement income.

The 20 Hottest U.S. Real Estate Markets in February 2016

February 2016 has proven to be a lucrative month for both home buyers and sellers. The number of available houses for sale on the market has increased only slightly as buyers’ demands for homes continue to reach peaks unheard of only a year ago. Housing prices are also higher than they were a year ago, with the average asking price standing at $230,000. Homes currently on the market are moving faster than they did a year ago. Reports show that homes for sale today only stay on the market an average of 96 days, although in some markets across the country homes are selling in as few as 48 days after they are listed. Among today’s real estate markets, twenty stand out as being the hottest in the U.S. The top 20 hottest real estate markets today include San Francisco, which has topped the list for the past four months. Joining San Francisco are San Jose, CA; Dallas, TX; Denver, CO; Vallejo, CA; San Diego, CA; Santa Cruz, CA; Santa Rosa, CA; Stockton, CA; and Oxnard, CA to finish out the top 10. The top 10 through 20 hottest real estate markets are: Sacramento, CA; Los Angeles, CA; Boulder, CO; Modesto, CA; Eureka, CA; Portland, OR; Nashville, TN; Colorado Springs, CO; Palm Bay, FL; and Tampa, FL. The houses in these top 20 markets stay listed for sale anywhere from 44 to 78 days. This listing rate is a seven percent drop from what it was a year ago.

Five Important Things to Do Right Away After Moving

Regardless of how organized you are, moving is a very big chore. It will take time to get everything just right and in order, but there are a few things that you should do right away as soon as you get moved. 1. Install New Locks: Even if the last occupants handed you their keys, you really have no way of knowing how many other people have keys to your new home. Change the locks on every door for your own safety. 2. Get the Painting Done: If possible, do any indoor painting first before you open all of your packed boxes. This will make the job much easier with less chance of ruining your belongings. 3. Check Your Belongings for Damage: Those who hire movers need to check carefully to make sure that their major appliances, electronics and other valuables weren’t lost or damaged during the move. The time is usually short for reporting these problems, so act quickly for a better chance at reimbursement from the company. 4. Document Your New Home With Photos: Renters should always take pictures of their new residence to ensure that their security deposit will be returned. Buyers also need to take photos in case damages occurred after the initial inspection and before the last owners vacated the property. 5. Register Your Vehicle: If you’ve moved to another state, you’ll need to register your car in your new state as soon as possible. Big tickets can pile up on a car with out-of-state plates.