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very year, it seems like the same things are on the list but this could be the year you really do invest in a rental home.Rents are climbing, values are solid and mortgage rates are still low for non-owner occupied properties. A $150,000 home with 20% down payments can easily have a $300 to $500 ...
In 1966, a gallon of gas was $0.32 and today, it is $2.49. A dozen eggs were $0.60 but they’ve only doubled to $1.33. A gallon of milk was $0.99 and today, it costs $3.98. You could send a letter for five cents and now, it costs forty-seven cents.The average cost of a new car in 1966 was $3,500 a...
Since the election, rates have started going up and it will have a direct effect on the cost of housing. There is a rule of thumb that a ½% change in interest is approximately equal to 5% change in price.As the interest rates go up, it will cost you more to live in the very same home or to keep t...
During the Great Recession, some homeowners elected to rent their home rather than sell it for less than it was worth.IRS tax code allows for a temporary rental of a principal residence without losing the exclusion of capital gain based on some specific time limits. During the five year period en...
Mortgage approval isn’t final until it’s funded. Things can change prior to the loan being closed that can affect a pre-approval such as changes in the borrowers’ financial situation or possibly, factors beyond their control like interest rate changes.Good advice to buyers is to do nothing that...
A person called into a radio talk program with a situation that was troubling to the caller and disturbing based on the potential tax liability that may have been avoided.The caller’s elderly father had deeded his home to his daughter a few years earlier because in his mind, his daughter was goi...