John L. Scott Real Estate
Saturday, April 20, 2019
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Friday, February 15, 2013
MI is Tax Deductible through 2013! MI Tax Deductibility passed as part of the American Taxpayer Relief Act of 2012. This allows MI to be tax deductible for 2012 and 2013.
Posted by dawnmitchell at 2/15/2013 3:22:00 PM
Thursday, January 24, 2013
More buyers and sellers return to the housing market. Home sales increase 6-7 percent while home prices increase 3-4 percent. Inventory reaches an all time low. Number of short sales and REO continues to drop. New construction peaks. Mortgage rates rise slightly by year's end from record lows. Lending remains constrained for home buyers. Home affordability remains at record high.
Posted by dawnmitchell at 1/24/2013 4:39:00 PM
Thursday, January 3, 2013
Mortgage Cancellation Relief is extended for one year to January 1, 2014!!!!
Posted by dawnmitchell at 1/3/2013 11:42:00 PM
Tuesday, January 1, 2013
Close vents around the perimeter of your home. Disconnect hoses from outside faucets. Be aware of pipes exposed to outside walls, make sure they are properly insulated. Be aware of pipes above garage, bonus rooms with bathrooms, leave faucets dripping if necessay. Clean debri from gutters. Check and replace caulk around windows. Change out furnace filters to increase air quality in home. Keep your garage door closed to keep the warm are in, and cold air out. Wrap a reflective blanket around your water heater. Replace weather stripping around doors to keep drafts out. Check smoke & carbon monoxide detectors to make sure they are working. Shovel and salt driveways and walkways. Be safe this winter!
Posted by dawnmitchell at 1/1/2013 3:28:00 PM
Friday, December 28, 2012
A tax break that has saved struggling homeowners from paying thousands of dollars to the IRS is just days away from expiring. If the Mortgage Forgiveness Debt Relief Act of 2007 does not get extended by Congress by the end of the year, homeowners will have to start paying income taxes on the portion of their mortgage that is forgiven in a foreclosure, short sale or principal reduction. That means if someone owes $150,000 on their home and it sells for $100,000 in a foreclosure auction, they could owe taxes on the remaining $50,000. For someone in the 25% tax bracket, that would mean paying $12,500 in taxes on the foreclosure. Similar taxes would apply for amounts that were forgiven in short sales and principal reductions.
Posted by dawnmitchell at 12/28/2012 4:57:00 PM
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