• Horario de atención 9:00 AM - 5:00 PM
  • Dirección: 1569 Sloat Boulevard, Suite 300, San Francisco, CA 94132
  • Teléfono: (415) 213-1600

Sin categoría

Rent Vs. Buy

Americans’ Expectations Align to Encourage Inicio Buying

rent vs buyMore consumers may be looking to purchase homes with a shift in several key housing market indicators, according to Fannie Mae’s March 2012 consumer attitudinal National Housing Survey. More Americans now expect both Inicio rental and Inicio purchase prices to increase over the next year.

 

  • Nearly half of consumers expect higher rental prices, the highest number recorded since monthly tracking began in June 2010.
  • Thirty-three percent expect Inicio prices to increase, up 5 percentage points since last month, and the highest percentage recorded in over a year.

In addition, confidence in consumers’ views of their own finances is stabilizing—for three straight months—44 percent believe their personal finances will get better over the next year. These trends may be providing Americans with an increased sense of urgency to buy a Inicio as 73 percent of Americans now believe it is a good time to buy a Inicio, up from seventy percent in February.

“Conditions are coming together to encourage people to want to buy homes,” says Doug Duncan, vice president and chief economist of Fannie Mae. “Americans’ rental price expectations for the next year continue to rise, reaching their record high level for our survey this month. With an increasing share of consumers expecting higher hipoteca rates and Inicio prices over the next 12 months, some may feel that renting is becoming more costly and that homeownership is a more compelling housing choice.
Homeownership and Renting
Thirty-three percent of respondents expect Inicio prices to increase over the next 12 months, a five percentage point increase from last month, the highest level over the past 12 months.

The survey shows that on average, Americans expect Inicio prices to increase by 0.9 percent over the next 12 months (up slightly since last month).

Additionally, 39 percent of Americans say that hipoteca rates will go up in the next 12 months, a five percentage point increase from last month.

The percentage of respondents who say it is a good time to buy rose by three points to 73 percent, the highest level in over a year, while the percentage of respondents who say it is a good time to sell rose one point to 14 percent this month.

On average, respondents expect Inicio rental prices to increase by 4.1 percent over the next 12 months, a significant increase since February, and the highest number recorded to date.

Forty-eight percent of respondents think that Inicio rental prices will go up, a three percentage point increase from last month and the highest number recorded to date.

Sixty-six percent of respondents say they would buy their next Inicio if they were going to move, up one point since last month, while thirty percent say they would rent, up one point versus last month.

The Economy and Household Finances
The rise in confidence in the economy’s direction leveled this month, with 35 percent responding that they think the economy is on the right track, consistent with February’s total. The percentage who say the economy is on the wrong track rose slightly from 57 percent to 58 percent.

Only 12 percent think that their personal financial situation will worsen in the next 12 months, consistent with February as the lowest value in over a year, and tied with January 2011 for the lowest to date.

Twenty-one percent of respondents say their income is significantly higher than it was 12 months ago, up 1 point versus February, while 63 percent say it has stayed the same – consistent with February’s values

Thirty-four percent say their expenses have increased significantly over the past 12 months (a slight increase of one percentage point).

Goodness in Skydiving and Real Estate

Skydive Pismo BeachCentury 21 real estate agentes have recently been on adventures to expand their personal courage and promote local charities. It is partially personal mission and partially component of the Century 21 mission of “Smarter, Bolder, Faster.” Recently, the Arroyo Grande Relay For Life, a chapter of the American Cancer Society has been the benefactor.

Anne McCracken, veteran Century 21 Hometown real estate agent is also a cancer survivor. She and fellow Century 21 agent Crystal Cowart are co-chairs for Relay for Life. Over the past few weeks, they have been jumping out of planes to raise money for cancer research. Other Century 21 Hometown agentes joining the effort include Nancy Tucker, David Hubbel, Michelle Adney, and Hubbel team assistant, Andrianna Burbank.

“It was bucket list stuff because I lived through cancer” says McCracken. “As a survivor, I personally understand that the support for the American Cancer Society in fighting such a terrible disease is the greatest gift that I can give back to humanity.”

Anne has sold real estate for 8 years. Before that she was the Manager of Silverado Tours for 14 years. McCracken was also employed with the Lucia Mar school district for 11 years. Real Estate became a natural evolution in McCraken’s career. “My mom was an agent so I grew up as the child of a REALTOR.” Her brother is also a real estate broker and REALTOR. “I love the people I work with and have purchased and sold many homes for myself,” says McCraken.

For McCraken, Century 21 Hometown Realty has the size, training, support, and collaborative environment that allows her to specialize in residential real estate. McCraken is an agent on the Hubbel Team with 3 other agentes. The Hubbel team is ranked #8 team in the Nation for Century 21.

To raise money for Relay for life, McCraken and others flew out of Oceano Airport and parachuted into a landing area at sea venture beach. The flight took them up to 10,000 feet and had everyone the opportunity to take in the majestic view. The skydiving company managing the event was Skydive Pismo Beach.

Each Century 21 agent did a Tandem dive with a certified instructor. Skydive Pismo beach has master instructors on staff with more than 2500 jumps. Giving that kind of control to another person was akin to giving control and faith to your doctors. Compradores y Vendedores are in some way putting that level of control in their agent.

Safe landing, weather it is in real state, skydiving, or in cancer survival is the greatest possible outcome that keeps McCraken coming back for more.

10 Common Errors Home Owners Make When Filing Taxes

Pay TaxesDon’t rouse the IRS or pay more taxes than necessary — know the score on each Inicio tax deduction and credit.

Sin #1: Deducting the wrong year for property taxes

You take a tax deduction for property taxes in the year you (or the holder of your escrow account) actually paid them. Some taxing authorities work a year behind — that is, you’re not billed for 2011 property taxes until 2012. But that’s irrelevant to the feds.

Enter on your federal forms whatever amount you actually paid in 2011, no matter what the date is on your tax bill. Dave Hampton, CPA, tax manager at the Cincinnati accounting firm of Burke & Schindler, has seen Inicio owners confuse payments for different years and claim the incorrect amount.

Sin #2: Confusing escrow amount for actual taxes paid

If your lender escrows funds to pay your property taxes, don’t just deduct the amount escrowed, says Bob Meighan, CPA and vice president at TurboTax in San Diego. The regular amount you pay into your escrow account each month to cover property taxes is probably a little more or a little less than your property tax bill. Your lender will adjust the amount every year or so to realign the two.

For example, your tax bill might be $1,200, but your lender may have collected $1,100 or $1,300 in escrow over the year. Deduct only $1,200. Your lender will send you an official statement listing the actual taxes paid. Use that. Don’t just add up 12 months of escrow property tax payments.

Sin #3: Deducting points paid to refinance

Deduct points you paid your lender to secure your hipoteca in full for the year you bought your Inicio. However, when you refinance, says Meighan, you must deduct points over the life of your new loan. If you paid $2,000 in points to refinance into a 15-year hipoteca, your tax deduction is $133 per year.

Sin #4: Failing to deduct private hipoteca insurance

Lenders require Inicio compradores with a down payment of less than 20% to purchase private hipoteca insurance (PMI). Avoid the common mistake of forgetting to deduct your PMI payments. However, note the deduction begins to phase out once your adjusted gross income reaches $100,000 and disappears entirely when your AGI surpasses $109,000. Also, unless Congress acts to extend the PMI deduction again, 2011 is the last tax year for which you can take this deduction.

Sin #5: Misjudging the Inicio office tax deduction

This deduction may not be as good as it seems. It’s complicated, often doesn’t amount to much of a deduction, has to be recaptured if you turn a profit when you sell your Inicio, and can pique the IRS’s interest in your return. Hampton’s advice: Claim it only if it’s worth those drawbacks. If so, here’s what to know acerca de what you can write off.

Sin #6: Missing the first-time Inicio buyer tax credit

While the original Inicio buyer tax credit deadline passed in April 2010 (and isn’t available in 2012), military families and some government workers on assignment outside the U.S. were given an extension until April 30, 2011, to get a Inicio under contract and take advantage of up to $8,000 in tax credits for first-time compradores and $6,500 in credits for repeat compradores.

It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010.

Sin #7: Failing to track Inicio-related expenses

If the IRS comes a-knockin’, don’t be scrambling to compile your records. Many people forget to track Inicio office and Inicio maintenance and repair expenses, says Meighan. File away documents as you go. For example, save each manufacturer’s certification statement for energy tax credits, insurance company statements for PMI, and lender or government statements to confirm property taxes paid.

Sin #8: Forgetting to keep track of capital gains

If you sold your main Inicio last year, don’t forget to pay capital gains taxes on any profit. However, you can exclude $250,000 (or $500,000 if you’re a married couple) of any profits from taxes. So if you bought a Inicio for $100,000 and sold it for $400,000, your capital gains are $300,000. If you’re single, you owe taxes on $50,000 of gains. However, there are minimum time limits for holding property to take advantage of the exclusions, and other details. Consult IRS Publication 523.

Sin #9: Filing incorrectly for energy tax credits

If you made any eligible improvement, fill out Form 5695. Part I, which covers the 30%/$1,500 credit for such items as insulation and windows, is fairly straightforward. But Part II, which covers the 30%/no-limit items such as geothermal heat pumps, can be incredibly complex and involves crosschecking with half a dozen other IRS forms. Read the instructions carefully.

Sin #10: Claiming too much for the hipoteca interest tax deduction

You can deduct hipoteca interest only up to $1 million of hipoteca debt, says Meighan. If you have $1.2 million in hipoteca debt, for example, deduct only the hipoteca interest attributable to the first $1 million.

This article provides general information acerca de tax laws and consequences, but shouldn’t be relied upon by readers as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice; tax laws may vary by jurisdiction.

By: G. M. Filisko

Published: January 5, 2012

Pagar en efectivo por una vivienda

Original article available at Forbes.com

Buy outright or invest? This recent Forbes article showcases one man’s decision.

When a 62-year-old financial advisor bought a two-bedroom Manhattan co-op recently, he showed up at the closing with a check for the full $970,000 purchase price. No hipoteca? “The money I had in cash was sitting getting 0% interest,’’ explains the man, who asked not to be named. “It made absolutely no sense to borrow.”

There were other benefits as well to buying for cash, he says. He figures he got a “liquidity discount” for being able to close quickly—the asking price had

Similar closing scenes are playing out across the country these days—minus the theater chitchat. Rates for 30-year fixed mortgages are hovering at 4%, and 15-year fixed loans can be had for 3.5% or less, the lowest in more than 50 years. Yet the National Association of Realtors ­estimates that roughly 30% of U.S. Inicio compradores are now making their purchases 100% in cash, compared with 15% in 2008.

Some cash compradores are foreigners, who have never easily qualified for U.S. mortgages. Some are very-high-net-worth folks who have long favored cash for their multimillion-dollar trophy mansion purchases. The increase in cash buying comes mainly from two other groups: real estate investors, who nowadays rarely qualify for mortgages at all, and older compradores (like the New York financial advisor) who could qualify for mortgages but don’t want to.

In foreclosure-plagued Florida, where prices in some areas are down 55% from the peak, investors and ­snowbirds bearing cash dominate the market. Charlie Brasington is chief executive of Hoffman Development Group, which since 2008 has been using cash from private investors to buy distressed Tampa- and Palm Beach-area condo buildings from banks. Hoffman fixes the properties up and then sells the units to end users. Brasington reports two-thirds of the roughly 300 units Hoffman has sold so far, through Engel & Völkers, have gone for cash, as have all eight of the $1 million-plus penthouses it has moved.

“These people probably have $5 million or more, so to take 10% of it out and buy a quality Inicio in Florida and know that you’ve got your stake in the sand, that may be a good investment,” Brasington says. “Your cash is not ­making money in a CD, that’s for sure, and in the stock market there’s volatility. In real estate, sure, you may have some downward trend still, but there’s not that volatility anymore.”

A sales pitch? Sure. But recent cash compradores make similar points, and signs abound that Florida prices may have bottomed. If you’re considering a cash purchase, here are some pointers.

Continue reading at Forbes.com.

es_MXEspañol de México