Real Estate Tax Law tag:blogger.com,1999:blog-26070753 2006-07-12T17:13:13Z Blogger
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 true Real Estate Pro 2006-07-12T10:09:07-07:00 2006-07-12T17:13:13Z 2006-07-12T17:13:13Z tag:blogger.com,1999:blog-26070753.post-115272439375563315 Texas Property Tax Cut

Finally some relief - the Texas House of Representatives approved, 139 votes to five, an 11% cut in property taxes. Now the bill goes to the state senate and the governor. If passed, the bill will give school districts around $2 billion from the state's surplus. Most districts across the state are taxing property owners close to $1.50 per $100, which is the maximum amount allowed by the state. Let's hope we get the relief that property owners need.

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Texas Property Tax Cut


false Real Estate Pro 2006-07-12T10:09:06-07:00 2006-07-12T17:13:13Z 2006-07-12T17:13:13Z tag:blogger.com,1999:blog-26070753.post-115272439316678007 Private Annuity Trust

The Newest Exit Strategy for Real Estate The Private Annuity Trust By Christian Ramsey What would you think if I told you that you could sell a highly appreciated property, not pay any capital gains tax or depreciation recapture costs, and not be forced to buy another piece of real estate? The PAT is a tool that defers the capital gains tax in a fashion very similar to an Installment Sale would and completely avoids Depreciation recapture costs.

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Private Annuity Trust


false Real Estate Pro 2006-06-27T12:46:32-07:00 2006-06-27T19:50:16Z 2006-06-27T19:50:16Z tag:blogger.com,1999:blog-26070753.post-115143781631073420 Proposed Elimination of Home Mortgage Interest Deduction

The President's Advisory Committee on Tax Reform has recently proposed eliminating the home mortgage interest deduction, along with deductions for property taxes and state and local income taxes, and replacing these deductions with tax credits. Although I have not studied the FairTax proposal, the idea of not having to prepare and file an annual federal income tax return for myself and my two businesses sounds quite appealing.

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Proposed Elimination of Home Mortgage Interest Deduction


false Real Estate Pro 2006-06-21T13:54:36-07:00 2006-06-21T20:58:09Z 2006-06-21T20:58:09Z tag:blogger.com,1999:blog-26070753.post-115092348946365421 Who Wins: Discount Brokers or Six Percenters?

As far back as 2004, the smartest realtor I know told me he wouldn?t pay IAC for client leads because RealEstate.com referrals were always for buyers, and he had all the buyers he needed. The much more ominous thing for highly paid brokers is that now nearly a quarter of buyers, according to the head of one discount brokerage I interviewed, buy a specific home they found online themselves.

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Who Wins: Discount Brokers or Six Percenters?


false Real Estate Pro 2006-06-20T12:44:46-07:00 2006-06-20T19:48:17Z 2006-06-20T19:48:17Z tag:blogger.com,1999:blog-26070753.post-115083289782180993 Michigan Principle Residence Exemption - What You Need to Know

Additional guidance is contained in the instructions for completing the Homeowner's Principle Residence Exemption Affidavit. An owner can only claim a principle residence exemption if, as stated in the affidavit, the property being claimed is actually one's principal residence, which is described as "the place you intend to return whenever you go away.
..which you do not occupy as your principal residence may not be claimed."

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Michigan Principle Residence Exemption - What You Need to Know


false Real Estate Pro 2006-05-11T16:30:15-07:00 2006-05-11T23:32:43Z 2006-05-11T23:32:43Z tag:blogger.com,1999:blog-26070753.post-114739036312643651 Stairway to heaven

The realtor's choice of photo says a lot about a property. With a photo like this one, you just know that this has got to be a classic PoS. Desperate to find something positive to say about this one bedroom LA apartment, the realtor claims that the "courtyard has lots of greenery and flowers." Desperation did not just infect the realtor.
Like so many of today's listings, the valuation for this PoS just does not make financial sense.

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Stairway to heaven


false Real Estate Pro 2006-05-11T16:30:14-07:00 2006-05-11T23:32:42Z 2006-05-11T23:32:42Z tag:blogger.com,1999:blog-26070753.post-114739036268875736 Happy April 15th this weekend. Anyone else see a problem with tax-free windfalls on housing sales?

I buy a stock for $100 and sell it for $100,000, I pay capital gains tax (as I should) on the gain.
I buy a house for $100,000 and sell it for $200,000, as long as I've been there for two years, I get the $100,000 gain (less costs) tax free.

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Happy April 15th this weekend. Anyone else see a problem with tax-free windfalls on housing sales?


false Real Estate Pro 2006-05-10T19:43:11-07:00 2006-05-11T02:45:38Z 2006-05-11T02:45:38Z tag:blogger.com,1999:blog-26070753.post-114731553826372679 Title Unavailable

Just returned from traveling, and we must report that real estate is still the "hot topic" of conversation! Prices, continued development and construction, and... gas prices! That's right - gas and real estate.
Not only is the price of gas affecting the cost of commuting, but also the dollars spent on housing. By taking precious dollars out of one's wallet to pay for gas, there is less money left in the budget for housing.

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false Real Estate Pro 2006-05-10T19:43:11-07:00 2006-05-11T02:45:37Z 2006-05-11T02:45:37Z tag:blogger.com,1999:blog-26070753.post-114731553785978700 Title Unavailable

Consider the tax burden. When deciding where to live, or possibly where to retire, you might want to look at the tax burden. First, the U.S. Census Bureau has recently published an interesting chart: States Ranked by Total Taxes and Per Capita Amount: 2005. The Tax Foundation publishes an interesting study, ranking states by the amount of taxes one pays in that state: State and Local Tax Burdens Compared to Other U.S. States, 1970-2005.

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false Real Estate Pro 2006-05-03T14:14:53-07:00 2006-05-03T21:17:08Z 2006-05-03T21:17:08Z tag:blogger.com,1999:blog-26070753.post-114669102800863085 Buying and Selling: The Realtor Curse II

Remember my friend who was selling her home in upstate N.Y.? Seems her realtor--a former co-worker (Warning sign #1)--nearly bollixed her entire home sale by inexplicably overestimating her buyer's potential property taxes by almost $3,000, then demanding to keep his commission!
She managed to restore the sale, took a minimal financial hit, and reported his behavior to his brokerage, the Greater Rochester Realtors Association, etc.

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Buying and Selling: The Realtor Curse II


false Real Estate Pro 2006-05-03T14:14:52-07:00 2006-05-03T21:17:07Z 2006-05-03T21:17:07Z tag:blogger.com,1999:blog-26070753.post-114669102763482717 Housing News: Now 100% 75% Bubble Free

Follow the money trail--if using legislation and advocacy doesn't work, pressure the lenders to make changes or have them be embarrassed through exposing their risky portfolios. And the National Association of Home Builders said the industry could be in danger of losing a significant portion of its labor force if immigration reform doesn't include a guest worker program and a program to address illegal immigrant issues.

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Housing News: Now 100% 75% Bubble Free


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