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Did you know…Right Time to Buy or Sell Your Home can save you thousands?

Many of us are very busy daily with work, family, friends, church, serving, activities and events that we forget to review our investment status. There are many laws and regulations that can benefit homeowners, but majority of people are not aware of them. Different market, economy, geographical location, lifestyle changes, career environment, financial status all play a part of factors to determine when to do what in order to best leverage out your financial gain.

Did you know that each person has up to $250,000 owner occupied equity gain tax free? For example, if you have purchased a home at $300,000 and today is worth $700,000 and you have occupied the property for your own usage within the last 2 years out of 5, you may be eligible for a $250,000 per person tax free when you sell for a profit! That means the average people would have to work at least 5 years to have a net of $250,000!

If you are married, you have up to $500,000 tax free gain for the same criteria. If you have exceeded that maximum allowable equity gain, you will be subjected to tax. For example, if you have purchased the property at $200,000 and today is worth $900,000. As an owner-occupied single person given $250,000 tax free gain, you will need to pay tax on the remaining $450,000 gain, which is very hefty. However, if we had planned this out a few years before on all of your properties, we can sell right above your maximum allowable tax free equity gain, purchase another home for you to live in and start accumulating the equity again to leverage out your tax free equity.

There are many more benefits that may benefit each person or family based on lifestyle, needs and goal. Most successful people in the U.S. invest into real estate because they can work years less by knowing how to leverage real estate laws. Real Estate is my passion and I enjoy helping people plan for the long term in order to best leverage and utilize their wealth by working smarter and understanding the tax laws.

Real estate is not just a career that I enjoy, but also my passion and investment. I have used my real estate knowledge to help many others already; contact me so I can also help you!  Please feel free to visit my Testimony page and see how many people I have already helped and continue to help!

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Why Am I Required to Have a Condo Insurance H06 Policy?

Buying a condo is different from buying a standalone home. Especially when it comes to insurance coverage. Buying a condo means you are becoming a partner with other owners. Plus, the common areas are insured by one or more master insurance policies. Most condo master policies do not cover the interior of the condo. Tiis is why condo “walls in” policies, also known as an H06 policy, exist. In the event of damage or a loss to the condo interior, this form of condo insurance covers the unit owner. A key point to remember when a mortgage is involved, the lender requires a certain level of H06 policy coverage.

What is an H06 Policy?

Master condo policies cover the buildings, common grounds, and even liability in case someone is hurt on the premises. But, many master policies stop their coverage at the interior walls of each condo unit. That means the unit owner is on their own when it comes to the interior and its contents. That is where an H06 policy steps in. An H06 or walls in policy is purchased by the unit owner through an insurance agency and for the most part, the owner decides on the level of coverage. One area of importance to remember is that these condo policies may not cover all perils. For instance, coverage for other areas such as flood or wind/hail damage may require an additional policy or riders.

Does the Condo Master Insurance Policy Ever Cover the Interior?

Yes, but this is not common. When considering a condo purchase, it is key to get a copy of the master policies. Plus, make sure to have a thorough discussion with the master policy insurance agent. It is key for a potential condo owner to understand the coverages and exclusions. At this time, it will be known if the master policy covers the condo interior and the unit owner’s personal contents. Keep in mind that if the master policy does cover the walls in, pay attention to the policy deductible. It may be a very large deductible. In this case, ask your insurance agent if supplemental coverage is allowed.

How Much H06 Coverage Does My Mortgage Lender Require?

If a buyer pays cash for the condo, then the unit owner may choose any coverage they choose. Even waive the policy altogether. Yet when a mortgage is involved, there are lender requirements. As a general rule of thumb, lenders will require coverage equal to 20% of the condo unit value. For instance if the condo is purchased for $200,000, the H06 condo policy must have at least $50,000 coverage. Furthermore, if your mortgage requires escrows for taxes and insurance, this insurance will be in the escrows. The master policy is typically included in a unit owner’s HOA dues. Although, condominium complexes with only a few units may handle this differently.
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A Day in Life

Last Wednesday, a passenger in a taxi heading for Stafford station leaned over to ask the driver a question and gently tapped him on the shoulder to get his attention. The driver screamed, lost control of the cab, nearly hit a bus, drove up over the curb and stopped just inches from a large plate glass window. For a few moments, everything was silent in the cab. Then the shaking driver said “Are you OK?  I’m so sorry, but you scared the daylights out of me.” The badly shaken passenger apologized to the driver and said, “I didn’t realize that a mere tap on the shoulder would startle someone so badly.” The driver replied, “No, no, I’m the one who is sorry. It’s entirely my fault. Today is my very first day driving a cab. I’ve been driving a hearse for 25 years.” ~ A reported true story from Manchester Evening Times
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Leveraging Your Needs Wisely

Leveraging Your Financial and Future Needs With the current U.S. system, it is important to plan for the future. Whether you have  limited income or high income, it is important to understand how to leverage your  financial future. Even through market fluctuations, people still have different needs.  Some people need to have more tax deduction from one year to another. Others desire to  focus on increasing monthly income. Every type of low and high market accommodates  the needs of people. Real Estate is considered a more stable investment than stock  markets globally. As long as there is a high population in the world, there will always be a  high demand for real estate. There are different types of goals and purpose in various  stages of a person or family’s life. There are also national and global changes in financial  and situation needs. As a result, it is important to view real estate, finances and investing  as long term annual planning goals to best accommodate these changes. There are many  people who have been Alisha’s clients over 10 years greatly benefited from the annual  financial planning with Alisha to leverage and meet their future goals. Contact Alisha  today for your annual personal and family financial planning at (888) 988-9867.
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COVID and the Future

Housing has been the economic setter around the world. However, has COVID-19 helped  you evaluate what is working or not working with your choices and lifestyle? Let us take a  closer look at areas in your life in relation to this Global Pandemic. Do you see the  direction going more positive or negative for the year 2020 to 2021? What is going on  regarding interest rate, housing, stock market, employment? How are you interpreting  this outcome? In terms of finances, are you better or worse? In terms of quality people,  has ethics and morality deteriorated or improved? Are people in general more pleasant,  less patient, more caring or careless? The quality and conduct of people are the  foundation of how the society and the future will be. Since people are the ones setting  laws, structures, procedures, businesses, etc., this means how people are will set the tone  for the future in every personal and business engagements. Therefore, how the future will  be relies most heavily on each one of us. Alisha has countless experiences as a  relationship counselor. She has positively improved many lives of marriage couples,  parents to children relationships, internal company team relationships that is sustainable. 

The most common relationship killer is ignoring the problems which almost always  escalate to deeper negative consequences. Join many others today to get help and  improve your mental, emotional and physical health. Contact Alisha for counseling  appointment for a better and new beginning 888-988-9867. 

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Effect of Music

Music is one of the categories that are difficult to explain or fully understand.  However, none of us can deny that it has a tremendous impact in our lives.  No matter which type of music you prefer or reject, music does impact us in more ways than most of us realize indirectly.  While many of us would agree that we listen to various types of music ranging from slightly different to extremely different depending on what we ‘feel like at that moment.  We also cannot minimize its effect on molding our character, thought process, responses, attitudes and behaviors. (watch the video for more info)
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Alisha, Well-Rounded Skill Set

I would unequivocally recommend Alisha’s services to anyone contemplating a real estate transaction. Alisha possesses a well-rounded skill set: a strategic thinker with a great sense of the macroeconomic environment and its connection to your specific real estate transaction; an outstanding communicator that ensures you are well-versed in the real estate process you are about to undertake; and a very strong operational aptitude as evidenced by Alisha and her team’s ability to efficiently execute the processing of documentation while maintaining strict attention to the details of the transaction. Above all else, Alisha conducts herself with the utmost level of professionalism. In Alisha, you have a true partner that will deploy her skills and vast experience to provide you peace of mind throughout this all-important process. ~De Casas