Take the Standard Deduction & the Home

Now that the standard deduction is increased to $12,200 for single taxpayers and $24,400 for married ones, many homeowners are better off with the standard deduction than itemizing their deductions to write off their mortgage interest and property taxes. There was some speculation that without the tax advantages, homeownership is not the investment it once […]

Understanding Reverse Mortgages

Reverse mortgage loans are like traditional mortgages that permits homeowners to borrow money using their home as collateral while retaining title to the property. Reverse mortgage loans don’t require monthly payments. The loan is due and payable when the borrower no longer lives in the home or dies, whichever comes first. Since no payments are […]

4 Challenges That Come with Marketing Your Own Home

If you’re looking to list your home this year, we have some good news—2020 is forecasted to be a seller’s market, which means most properties will sell quickly and for a higher price than normal. Although buyers are scrambling to find somewhere to settle down, even the most desirable homes still need some marketing to […]

Downsizing in 2020

Approximately 52 million or 16% of Americans are age 65 and over. It is easy to understand that some of them are thinking of downsizing their home because they don’t need the same space they did in the past. It can be liberating to divest yourself of “things” that have been accumulated over the years […]

Another Source for a Down Payment

Borrowing from a 401k, 403b or the cash value of life insurance policy is a common financial strategy. While taxpayers are not allowed borrow from either a traditional or Roth IRA, they can withdraw funds before age 59 ½ for specific purposes like a first home purchase, qualified higher education expenses or permanent disability without […]

Anticipating the Cost of a Home

The largest expenditure a buyer has when purchasing a home is the down payment which can range from zero for veterans or 3.5%, 5%, 10% and 20%. With mortgages come closing costs which can be another 2-4% and must be paid at settlement in cash. Most mortgages require an escrow account to pay the property […]

The Top 4 Home-Selling Myths of 2019, Busted

“Fake news” has become one of the trendiest terms of the decade—even when it comes to real estate. Homeowners are often bombarded with selling advice that promises to get their home sold quickly and for top dollar…but more often than not, these “tips” are nothing more than misleading—and can throw you off-track.  As we near […]

an Investment Perspective on a Home

Looking for an investment that will turn $10,000 into $80,000 in seven years? Sound too good to be true? What if I told you that you could live in it every day during that seven years? Would that sound even better? A $300,000 home purchased today on an FHA loan would have a $10,500 down […]

Understanding the Mortgage Interest Deduction

Mortgage interest paid on your principal residence is deductible today as it was in 1913 when 16th amendment allowed personal income tax. The 2017 Tax Cut and Jobs Act reduced the maximum amount of acquisition debt from $1,000,000 to $750,000. Acquisition debt is the amount of debt used to buy, build or improve a principal […]

Keep Calm and Move On: How to Tackle a Long-Distance Relocation

Whether you’re heading down the street or to a new town, moving is always a tough transition. However, relocating across the country presents a whole new set of challenges you might not have considered. Picking up your life can be an exciting change, but it’s also a bit overwhelming.  Need some help navigating the process? […]