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Proposed Elimination of Home Mortgage Interest Deduction

comments Published Tuesday, June 27, 2006 by Real Estate Pro.  


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


Who Wins: Discount Brokers or Six Percenters?

comments Published Wednesday, June 21, 2006 by Real Estate Pro.  


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?


Michigan Principle Residence Exemption - What You Need to Know

comments Published Tuesday, June 20, 2006 by Real Estate Pro.  


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


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