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For anyone considering taking out a mortgage, the new law imposes a lower dollar limit on mortgages qualifying for the home mortgage interest deduction. Beginning in 2018, taxpayers may only deduct interest on $750,000 of qualified residence loans. Continue reading “New dollar limit on total qualified residence loan balance”

The Mortgage Interest Deduction is available to homeowners for up to $750,000 of acquisition debt on the combination of their first and second home.  They can also deduct interest on up to an additional $100,000 of Home Equity debt. Continue reading “Shifting Debt to Tax Deductible”

It’s interesting that the housing climate has changed so quickly. Some buyers, who think they’re still in the driver’s seat, find the market is now going up and they’re losing the home that they really want. Continue reading ““Please take our offer…””

The benefits of regularly changing the heating and air-conditioning filters are obvious to homeowners; the real challenge is creating a system to make sure it gets done.  Continue reading “Breathe Easy”

How much is a one carat diamond worth? Anyone who has shopped for one knows that the price could have a significantly wide range of value. It’s been said that purchasers  should consider the color, cut, clarity and carat size to compare stones but when it gets down to decision time, buyers still want to know “how much is it worth?” Continue reading “What’s It Worth?”

Inventory is dramatically shrinking and it is commonplace in many markets to have multiple offers on a home. While the sellers would prefer to be able to choose the best offer for them, it can be incredibly frustrating for the buyers who might consider the following tips to get their offer accepted.  Continue reading “Get Your Offer Accepted”

A certificate of deposit will generate a cash flow based on the interest rate that it pays which is the only way it generates a return for the investor. Continue reading “Find a Better Return”

Not many buyers have assumed a mortgage in the past 25 years. Most people think it was because FHA and VA in the late 80’s began to require that buyers qualify for the assumptions. Not having to qualify for a mortgage would certainly benefit certain buyers.  Continue reading “FHA & VA Assumptions”

Planning for retirement is obviously important and many times, an activity plagued by procrastination. Some people plan to have their home paid for by that magical date so they won’t have payments after they retire. It makes sense to eliminate a large recurring expense before they quit working. Continue reading “Retirement Without a Mortgage”

Equity is the difference in what your home is worth and what you owe. Ideally, as the value goes up and the unpaid balance goes down with each amortized payment made, the equity grows from two directions. Continue reading “Equity Dynamics”