Questions You SHOULD Be Asking Your Lender

Questions You SHOULD Be Asking Your Lender

2011: The Year a House Again Becomes a Home

2011: The Year a House Again Becomes a Home

I am so lucky!

I have to tell you as a manager of a real estate office, I hear a lot of things.   Some bad and some good.  Since no one wants to hear the bad, let's focus on the great things!

Here is what some of our customer and clients said.

"Kai was enthusiastic and encouraging at all times.  After each showing she called and game me feedback."

"Dawn and Kim always kept in contact with us which is very important to us."
"Amy was patient, professional and informative."

"Shawn did an excellent job!  He went out of his way to meet our needs."

"Erica put a lot of time and (very much beyond) effort to sell our home."

WOW!!  Great job!!  It makes me happy to work with such great agents!

Thank you!

Remember… Pigs Get Slaughtered

Remember… Pigs Get Slaughtered

5 Reasons You Should Sell Today (UPDATED)

5 Reasons You Should Sell Today (UPDATED)

November Home Sales Fall as Prices Hold Steady

http://www.wra.org/online_pubs/press_releases/2010/monthly_reports/december_2010.html

Are Homes Actually UNDERVALUED?

Are Homes Actually UNDERVALUED?

The facts about Mortgage Interest Deduction

Commentary: Mortgage Interest and Real Estate Tax Deduction Facts

December 7, 2010

By Danielle Hale, Research Economist
In recent weeks, many proposals, suggesting a variety of changes to the tax system, have been discussed. The estimates below are for the complete elimination of these two tax benefits at current marginal tax rates, one of the most extreme possible changes.
Mortgage Interest Deduction Facts:
• 51 million—or 68 percent—of the approximately 75 million owner-occupied houses in the United States in 2009 had a mortgage.
• 38.5 million taxpayers claimed a deduction for mortgage interest, deducting a total of $470 billion, in 2008.
• The average taxpayer claiming the MID deducted $12,200 from taxable income in 2008.
• Therefore, the average taxpayer saved $3,050 in taxes by claiming the mortgage interest deduction¹ .
• The total tax savings from the MID in the United States in 2008 was $117 billion.
Real Estate Tax Deductions Facts:
• 42 million taxpayers in the United States claimed a deduction for real estate taxes in 2008, deducting a total of $172 billion.
• The average taxpayer claiming the real estate tax deduction subtracted $4,090 from taxable income in 2008.
• Therefore the average taxpayer saved $1,020 in taxes as a result of the real estate tax deduction² .
• The total savings from the real estate tax deduction in the United States in 2008 was $43 billion.
Eliminating Deductions: Losses for Home Owners and the Nation
If the mortgage interest and real estate tax deductions were eliminated, the loss would not be a one-year event; homeowners lose out on these potential savings each and every year. The present value³ of these lost savings could total $3.2 trillion. The value of all owner-occupied real estate in the United States in 2009 was $19.3 trillion⁴ . If the lost tax savings are fully capitalized into the price of houses, the average decline in value in the United States would be 17 percent. From the individual perspective, the median priced home in the United States in the third quarter 2010 was $177,800. A decline in value of 17 percent, as projected, would mean a loss in home value of $29,500 for the typical home owner.
These estimates, because they are based on a complete elimination of these deductions, can be viewed as a high-end estimate. Other changes will result in smaller losses to home owners. Additionally, national results are computed by looking at national averages. A very different picture can result when looking at the state level depending on the characteristics of the housing market, tax payers, and homeowners. For state information, contact data@realtors.org.
¹Marginal rates range from 10 to 35 percent. A 25 percent rate was used to calculate the tax savings.
²Ibid.
³Present value calculation assumes 5 percent discount rate and 1000 year time horizon.
⁴As measured by the American Community Survey. The Federal Reserve Flow of Funds for 2009 estimated the market value of household real estate to be $17 trillion which would raise the estimate of the decline in value to 19 percent.
This is one in a series of commentaries by the Research staff of the National Association of REALTORS®.

Good news for 2011!

http://kcmblog.com/2010/12/13/demand-for-housing-will-increase-in-2011/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+KeepingCurrentMatters+%28KCM+Blog%29

Peering into 2011: Five Features of Next Year's Housing and Mortgage Markets - Freddie Mac

Peering into 2011: Five Features of Next Year's Housing and Mortgage Markets - Freddie Mac

Strong rebound in pending home sales

http://www.realtor.org/press_room/news_releases/2010/12/strong_phs

7 reasons why your house won't sell

Here is a great article by Alan May.

http://activerain.com/blogsview/1993651/7-reasons-why-your-house-won-t-sell-