There is plenty of information about the new $6,500 tax credit for homebuyers circling the media and internet, despite that many potential buyers are still in the dark and unsure about eligibility and how to qualify for the credit.

Businessweek has decided to write an informed article on the subject which gives more detail on the specifics of the bill.

They say, in order to qualify for the $6,500 credit YOU MUST close by June 30th 2010 – and have the contract signed by April 30th 2010. The purchase price for eligible homes (The credit applies to 1-4 unit homes,) is capped at less than $800,000, after your purchase you complete an IRS form and mail it to the IRS and they will send you a check for your credit.

The credit is for home buyers that have lived in their current primary residence for at least five consecutive years out of the past eight years – previously those who were not first time homebuyers were not eligible for a credit. For single tax payers the income limit went up from $75,000 under the old rules to $125,000 under the new rules. For married tax payers, the income limitation went up from $150,000 to $225,000.

This is great news for the housing market here in Malibu California and nationally. As there are many baby boomers who are looking to downsize their home and this credit would be a perfect vehicle to encourage them to do so. Remember to get advice from your tax professional!

We will keep you updates as more develops!

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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Former Baltimore Ravens cornerback Chris McAlister has listed his Beverly Hills Post Office area home at $7.9 million.

This beautiful French Normandy-style palatial estate was built in 1990, has a two-bathroom master suite, a two-level living room and four fireplaces. The home has five bedrooms and seven bathrooms across 9,375 square feet  and is positioned on a large 32,000 square foot lot.

Also outside there is a Koi pond, swimming pool and putting green! Along with stunning views of Catalina from the front and the valley out the back!

Chris McAlister used the home as his off season retreat and is planning on moving back to Maryland. He played college ball at the University of Arizona and was selected by the Ravens in the 1999 NFL Draft.

This is absolutely a stunning showcase property located in the excellent Beverly Hills Post Office area. 

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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Who wouldn’t want a beach house in Malibu, the sun, sea and sand makes for a perfect recipe!

However beach homes in the ‘bu have come a long way since when they first started to become popular! They are no longer full of coral mirrors, sea shell frames and fish-shaped place mats.

Whether it’s a 10-room contemporary, a clapboard cottage or an ocean view apartment, today’s chic coastal interiors exude elegance, comfort and low-maintenance. People want modern, clean looks and finishes as well as the feeling of space. Which is particularly important with oceanfront real estate always at a premium homes tend to be a little smaller than those inland.

Also making use of outdoor space is a must, designers are trying to create a flow in a property where the inside and outside space join together seemlessly. After all, who wouldn’t want to have a late night drink on the deck overlooking the ocean?

The choice of interior and exterior materials is also important keeping in mind the damp ocean air and exposure to the elements. So long lasting, hard wearing materials are best.

Beach living is all about rest and relaxation. These days the trend is also about “beach living” in an environmentally friendly way – conserving water and lowering your carbon footprint.

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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Some exciting news for us all has just been issued today from the National Association of Realtors!

Much has been talked about in the last few years about going green as we have been discussing on this blog. Including the latest idea from Malibu City Council who have proposed a Green Building Ordinance for the city.

Everyone these days is jumping on the green bandwagon and wanting to know how they can do their bit as part of the green revolution as well as information on national incentives to help you become more energy efficient. Even Celebrities have got in on the action!

Private homes in Malibu of course are a prime target by environmentalists who want homeowners to do their bit, however in this instance with a commercial building, the National Association of Realtor’s is leading the way in DC!

The NAR office building on Capitol Hill (see picture above left) was the first newly constructed (in 2004), green certified building in the District of Columbia, demonstrating NAR’s commitment to environmentally sustainable real estate development.

Not only is the building aesthetically pleasing, it is certified for Leadership in Energy and Environmental Design and was awarded the Silver rating by the U.S. Green Building Council when the building opened. NAR cleaned and developed an abandoned contaminated site as the home of its D.C. headquarters. 50% of the building’s energy comes from renewable resources, and 30% less water is used compared to other buildings of similar size. (Water conservation is something which in Malibu is always making the headlines)

In testifying before a House Transportation and Infrastructure Subcommittee, NAR reiterated the significance of its green building and reinforced its support for energy efficiency tax credits as currently there is a growing trend towards greener construction and green homes are in demand as consumers are watching their energy costs and wanting to care more for their environment. Buyers are also realizing that when it comes to selling their home if they have an energy efficient home with lower than average utility bills it may help them sell their home faster.

So join in the revolution and go green in your home!

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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The time has come! The National Association of Realtors’ has announced that they have seen more and more buyers returning to the housing market to take advantage of the great selection of inventory available at record prices. “There has never been a better time to buy…Housing affordability is at an all-time high, mortgage rates are historically low, and interest rates are the lowest they’ve been since the days of Eisenhower” said NAR Chief Economist Lawrence Yun.

Historically high housing affordability and low mortgage interest rates, combined with buyer opportunities in the distressed sales market, have increased home sales in many areas of the country. In California for instance home sales are rising much faster than anticipated; some areas in the state are seeing a 70 to 80 percent increase in sales.

This could in part be attributed, not just to market conditions, but due to the that the Federal Housing Administration permitting its lenders to allow qualified home buyers to use the $8,000 tax credit as a downpayment as opposed to having them wait for the check to come from the IRS. In fact, many first-time buyers are attracted to deeply discounted and distressed home prices. Nationally, about 50% of all recent transactions have been distressed sales. 15-20% have been short sales and 30-35% have been foreclosures.

Lawrence Yun went on to comment that his projection for the real estate market was the following:

“home sales will be 10 to 20 percent higher the second half of this year than last year and we will come out of this recession in 2010.”

Being the leading Real Estate company in Malibu, rest assured that we will keep you informed through our blog. Subscribe to our blog using our RSS feed. (Click here!)

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

Philanthropist Steven Hilton is selling his 3,796 square foot Malibu property for $2.96 million.

Steven Hilton is most well known as the Uncle of TV stars Paris and Nick Hilton. He has listed his four-bedroom contemporary home in the Ramirez Canyon area of Malibu for sale. Hilton purchased the home back in 2002 for $1.625 million.

The home sits on over two acres and was built in 2000. There are two master bedrooms and dramatic high ceilings accented with skylights. Outside there is a pool and spa with a waterfall and large decks and patios. The property benefits from lush mountain views as well as close proximity to Paradise Cove.

Hilton however, will not be leaving Malibu completely when this home is sold. He owns another house in Malibu which records show that he paid $7,100,000 in 2007 for the purchase of a 2,841-square-foot house on Malibu Cove Colony Drive.

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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Leonard DiCaprio owns three homes in Malibu and recently (November 2008) has put one of his properties at 32628 Pacific Coast Highway up for sale at $8,999,000 in the hope of flipping this property which he purchased for only $6,350,000.

However he now has reduced the price of this Encinal Bluffs home to a bargain $7,999,000. However, while waiting for it to sell the famed Titanic actor has put the property up for lease at a monthly rate of only $25,000. This is great value for a 2374 square foot private property with stunning Pacific Ocean views.

The home is divided into a two bedroom two bathroom main house and two one bedroom guest suites. There is also a four car garage, hot tub overlooking the ocean and a set of steps down to the private cove below!

The property can be let short term of $50,000 per month according to the MLS.

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If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

April is the National Association of Realtors Fair Housing month which is now in 2009, in its 41st year and commemorates the passing of the Fair Housing Act in 1968.

The National Association of Realtors is committed to ensuring that there is equal access to housing an in its strict code of ethics article 10 is written with the Fair Housing Act in mind.

What does the law actually say? Well in short – the following:

Fair Housing Act (1968) - The Fair Housing Act declares a national policy of fair housing throughout the United States. This law makes illegal any discrimination in the sale, lease or rental of housing, or making housing otherwise unavailable, because of race, color, religion, sex, handicap, familial status, or national origin.

NAR guidelines are strict and by using a Realtor you can be sure that they are following these guidelines to ensure that all have access to housing.

If you would like to know more about what is going on locally for Fair Housing Month contact your local Realtor. If you are in the Malibu, California, area then contact Judy Kunisaki and her team in Malibu for more information.

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If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

Malibu’s relationship with the ocean is a long battle between land and sea. There is a great way to watch the show not only from the beach or from a boat in the ocean but from the 780 foot pier!

One of the areas best known landmarks, the more than 100-year-old pier in Malibu has a long and interesting history, serving as private shipping wharf, public promenade and even U.S. Coast Guard lookout station.

The Los Angeles Conservancy has announced the Malibu Pier as a recipient of its 28th annual Preservation Awards, which recognize outstanding achievement in the field of historic preservation. The pier has been practically rebuilt after El Nino storms in 1993 and 1995 nearly destroyed it.

When the pier fully reopened last year, there was much public praise. The award was given to the pier as during its renovation it stayed true to its original concept. The state started renovations of the pier in 1999 with a budget of $6.2 million.

The pier is nearly completely open and is restored to the condition of a 1950′s tourist attraction. It really is great news for the community.

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If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.