Category - Real Estate

1
Ready to invest in real estate? Take a close look at your margins
2
Vacation Home Rentals and Your Income Taxes
3
Selling your home? Here’s the income tax facts
4
The Basics of a Mortgage Explained
5
Is Housing Really More Affordable?

Ready to invest in real estate? Take a close look at your margins

We’ve all heard the mantra: “Location, location, location!” When buying investment property, a great location is often considered the #1 rule for success. But as we’ve all seen in that late night, drag-out game of Monopoly, location certainly isn’t the only factor at play.

A decade ago, we all learned more than we wanted to know about subprime mortgages. People were investing money they didn’t have using loans they should never have been given. The stage was set for the perfect storm. Home prices started falling, refinancing became difficult (especially with historically high debt-income ratios), and those previously attractive adjustable-rate …

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Vacation Home Rentals and Your Income Taxes

You may have a vacation home that you only spend a small amount of time at each year, and the rest of the time you rent the home out to other folks who wish to vacation in your little slice of heaven. The rents that you receive is considered taxable income, to the extent that it exceeds the applicable expenses. Plus, if the vacation home is partly used for your own purposes, the expenses (allocated to the time the property is rented) cannot exceed the amount of rent income from the property (you can’t claim a loss).

Recently the IRS …

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Selling your home? Here’s the income tax facts

Summer is a time when many folks choose to move to a new home. It makes a lot of sense, especially if you have children in school – this way if the move is to a new school district, the children will not have to switch schools during the academic year.

Selling your home can have consequences for your income taxes. Recently the IRS issued their Summertime Tax Tip 2015-13, which details ten key tax facts about home sales. The text of the Tip is below:

Ten Key Tax Facts about Home Sales

In most cases, gains from sales are …

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The Basics of a Mortgage Explained

I have been helping my brother refinance his mortgage. He, like others, have this outdated idea of the evil Adjustable Rate Mortgage. After explaining to him the differences of a fixed rate mortgage and an adjustable, he chose the adjustable.
I wrote an article for GuideVine about those differences and you can check it out here:
How to Calculate Which Mortgage is Best
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Is Housing Really More Affordable?

Housing affordability indexes have been published recently showing that even with higher interest rates homes are 10% more affordable than in 1994 when interest rates increased a lot. However any comparison of affordability before 2009 is dubious and unreliable because of the use of Easy Qualifier loans from 1984-2009. These loans allowed borrowers to use stated income so that if a borrower had enough current income to qualify but didn’t have that income consistently for the past two years then he couldn’t qualify for the loan under current “fully documented income” rules, but he could qualify under the old method. …

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