Daylight Savings Time: Don’t forget!

At 2:00 a.m. while you’re sleeping tonight, Daylight Savings Time takes effect. Don’t forget to “Spring” your clocks forward one hour! We’ll have to lose an hour of sleep, but we gain an extra hour of that warm sunshine during the day!

Supplemental property taxes can confuse a buyer

Have you recently purchased a home and been thrown off by getting bills about “supplemental property taxes?” Our friend Jay Vorhees at JVM Lending breaks it down for you:

Supplemental property taxes often create significant confusion for new homebuyers. When someone purchases a property in California, the County Assessor is required to immediately re-asses the property for property tax purposes. This re-assessment usually correlates to the purchase price and can take up to six months to complete.

JVM Supplemental property taxes

When a home is purchased, property taxes are usually based on the property tax bill of the current owner or seller. But usually, their property tax bill correlates to the price the seller paid for the property – often much less than the buyer is paying. Then, buyers mistakenly believe the property tax payment estimate when they purchase is an accurate reflection of their actual property tax. Usually, that’s false.

Anywhere from three months and beyond, buyers should expect a “supplemental tax bill” from the County Assessor. Even if a buyer has an escrow or impound account, they have to pay for the supplemental taxes, which can be sizable. As soon as a supplemental bill is received, a buyer should contact their loan servicer.

Also, when new buyers refinance into a new loan less than a year after a purchase, supplemental tax bills can cause confusion. Even if a borrower is refinancing into a lower rate, the housing payment can appear to increase. This is because lenders are basing the new housing payment on the new property tax liability, while borrowers are still basing their housing payment on the seller’s property tax liability, which is too low.

Another happy client!

Our newest seller! Congratulations to Todd, on selling your home on San Carlos Ave. in Concord. The home was listed at $400,000 and sold for $460,000. Todd chose to do a lot of things at once: get his home prepared for sale, get married, move out between friends’ weddings, and take a short trip to Palm Springs [I don’t recommend such a busy schedule when selling a home! ;-)]. Now he and his new bride search for their new home together! Wishing you many wonderful memories!

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Open House this weekend: 1326 San Carlos Ave. in Concord

Don’t miss this cozy, updated gem! Just a couple blocks from the Concord BART station and close to Todos Santos Plaza, you’ll feel right at home in this 2-bedroom, 1-bath (with an extra bedroom and bathroom in the converted garage) property.

Fresh paint, new bamboo floors, skylights, granite countertops and a big backyard with a spacious shed top the list of eye-catching features this property has to offer.

You can use that converted space as an AirBNB income-generating room that can be locked off from the rest of the house, and it even has its own little private side yard!

The open kitchen/dining room concept, complete with skylight and dark, beautiful cabinetry, flows into a separate living room with a fireplace and recessed lighting. Both main bedrooms open to the deck and backyard.

Speaking of, both main bedrooms open to the massive deck and backyard. You’ll have plenty of space to entertain friends and family. And you’ll love the huge tree in the front yard casting much-needed shade over the house in the summer.

Come see for yourself how so much can fit into such a beautiful space!

Visit our Open House this weekend from 1-4 p.m. both Saturday (7/30) and Sunday (7/31)!

You can see a virtual tour of 1326 San Carlos Avenue here.

Calling all Foodies, Walnut Creek’s Restaurant Boom!

Good luck reading this blog and not drooling everywhere. In the most recent issue of Walnut Creek Magazine, they laid out a long list of new restaurants coming to town. Here is a quick run down of twelve new places to eat.

Credit: tonygemignani.com
Credit: tonygemignani.com

As part of Walnut Creek’s transition from sleepy suburb to must-see Capitol of the East Bay, the already thriving restaurant scene is getting another injection of new, hip hot spots.

First, let’s talk about pizza. As if we weren’t already spoiled by good pizza joints in Walnut Creek, MOD Pizza is moving into The Orchards, Slice House – from the world-famous Tony’s in San Francisco – will set up shop right below Teleferic and Rooftop, and Pizza My Heart will snag Project Pie’s old space on California.

The artist formerly known as Pyramid is going to be (highly-anticipated BBQ joint) Sauced, McCovey’s is turning into brunch king Momo’s, and the Hubcaps team is transforming their space into Broderick Roadhouse.

Credit: Twitter

Lemonade, a SoCal chain that serves fresh California cuisine, is coming to the old La Boulange space, and the aforementioned Rooftop is already enjoying a swell of crowds every night to dine and drink under the stars.

Looking for comfort food among all the fancy feasting joints? Hops & Scotch on Treat Blvd. will bring a restaurant and bar with mac n’ cheese, chicken strips, fried cheese curds and more.

And just to pile on top of the never-ending sushi craze, Kona Grill will enter at The Agora on Main, and also offer burgers and pasta.

Lastly, look for Limon Rotisserie and Lokanta Mediterranean Grill & Bar on Locust St.

Whew … just in time for summer dining!