Food, Entertainment, and Arts
Sunday, March 31, 2013
Tuesday, March 26, 2013
Tax Tips~PMI and FHA
PMI and FHA mortgage insurance premiums
Helpfully, the government extended the mortgage insurance premium deduction through 2013. You can deduct the cost of private mortgage insurance as mortgage interest on Schedule A — meaning you must itemize your return. The change only applies to loans taken out in 2007 or later.
What’s PMI? If you have a mortgage but didn’t put down a fairly good-sized down payment (usually 20%), the lender requires the mortgage be insured. The premium on that insurance can be deducted, so long as your income is less than $100,000 (or $50,000 for married filing separately).
If your adjusted gross income is more than $100,000, your deduction is reduced by 10% for each $1,000 ($500 in the case of a married individual filing a separate return) that your adjusted gross income exceeds $100,000 ($50,000 in the case of a married individual filing a separate return). So, if you make $110,000 or more, you lose 100% of this deduction (10% x 10 = 100%).
Besides private mortgage insurance, there’s government insurance from FHA, VA, and the Rural Housing Service. Some of those premiums are paid at closing and deducting them is complicated. A tax adviser or tax software program can help you calculate this deduction. Also, the rules vary between the agencies.
Read more: http://www.houselogic.com/home-advice/tax-deductions/home-tax-deductions/#ixzz2OhV3yICW
Wednesday, March 20, 2013
Monday, March 18, 2013
Saturday, March 16, 2013
What You Want, What You Need
Here are some suggestions to help
you prepare for your search.
Needs and wants list
Make a list of your needs and wants. Do you need an extra bathroom, a garage, a fenced backyard, lower utility bills? Do you want a fireplace, a short drive to work, a lakeside view, or maybe minimal yard work?
Once your list is made, go back over it and decide what is most important to your lifestyle. It may be privacy, creativity, or recreation. Decide which items are musts and which you are willing to give up. Assign each item a priority so that you will know what to look for as you begin house hunting. Location
Deciding where you want to live may be the single most important factor in choosing a home. Location affects your day-to-day living. Location to employment centers, shopping centers, schools, major traffic arteries, and other attractions are important. Evaluate location carefully. Location of a property is one of the most significant influences on value. Your choice of location may be limited somewhat by the price you can afford. Even so, make sure you consider such things as:
Type of home and lot
A single-family detached home is attractive to a lot of people because it typically provides more living space and land area than other types of living units. Typically the detached structure permits you greater freedom (less restrictions) on remodeling, expanding, painting, and altering the appearances of the structure.
If you don't like spending leisure time on yard work, consider garden or patio homes. These homes are set on small lots. Many garden home developments share common garden areas.
A condominium is another option. Condos and patio homes often offer shared greenbelts or membership in private recreational facilities such as swimming, golf, and tennis. New vs. older homes
In selecting the type of home you want, consider new versus preowned homes. Preowned homes usually have established yards, and usually the neighborhood or subdivision is built-out. On the other hand, older homes may require more maintenance and need some repairs. New homes are not without problems. Although they require less maintenance in the first few years, you may have to put in landscaping and call the builder back to correct faults. If buildings are still active in area, you may have to endure nearby construction. Finally, consider size and style. You may already have in mind a wood-and-glass contemporary lodge with sun decks or a two-story Victorian mansion with a cozy attic. Or you won't know what you like until you see it. Either way, your Real Estate Professional will listen to your preferences and help you find the right home for you.
Needs and wants list
Make a list of your needs and wants. Do you need an extra bathroom, a garage, a fenced backyard, lower utility bills? Do you want a fireplace, a short drive to work, a lakeside view, or maybe minimal yard work?
Once your list is made, go back over it and decide what is most important to your lifestyle. It may be privacy, creativity, or recreation. Decide which items are musts and which you are willing to give up. Assign each item a priority so that you will know what to look for as you begin house hunting. Location
Deciding where you want to live may be the single most important factor in choosing a home. Location affects your day-to-day living. Location to employment centers, shopping centers, schools, major traffic arteries, and other attractions are important. Evaluate location carefully. Location of a property is one of the most significant influences on value. Your choice of location may be limited somewhat by the price you can afford. Even so, make sure you consider such things as:
- prices of properties and property taxes,
- distance to work, schools, shopping, and entertainment,
- proposed changes in land use such as commercial shopping centers and roads, and potential hazards such as flooding and noise from a nearby airport or highways.
Type of home and lot
A single-family detached home is attractive to a lot of people because it typically provides more living space and land area than other types of living units. Typically the detached structure permits you greater freedom (less restrictions) on remodeling, expanding, painting, and altering the appearances of the structure.
If you don't like spending leisure time on yard work, consider garden or patio homes. These homes are set on small lots. Many garden home developments share common garden areas.
A condominium is another option. Condos and patio homes often offer shared greenbelts or membership in private recreational facilities such as swimming, golf, and tennis. New vs. older homes
In selecting the type of home you want, consider new versus preowned homes. Preowned homes usually have established yards, and usually the neighborhood or subdivision is built-out. On the other hand, older homes may require more maintenance and need some repairs. New homes are not without problems. Although they require less maintenance in the first few years, you may have to put in landscaping and call the builder back to correct faults. If buildings are still active in area, you may have to endure nearby construction. Finally, consider size and style. You may already have in mind a wood-and-glass contemporary lodge with sun decks or a two-story Victorian mansion with a cozy attic. Or you won't know what you like until you see it. Either way, your Real Estate Professional will listen to your preferences and help you find the right home for you.
101 Things I Love about Portland Maine
285.Egg and I Cafe in Scarborough--breakfast all day!
Eggs Benedict Parisian style anyone??http://www.theeggandirestaurants.com/locations/scarborough.html
Thursday, March 7, 2013
Monday, March 4, 2013
Landscaping
Landscaping Affects Property
Value
Those trees in your yard provide more than just shade. According to a recent
study by the U.S. Forest Service, trees can increase a home's value by three to
seven percent. Meanwhile, poor landscape design can actually decrease property
values by up to 10-percent according to a 2003 study published in the Journal of
Environmental Horticulture.
101 Things I Love about Portland Maine
284.: Royal River Grillhouse in Yarmouth on the Royal River. Very comfortable atmosphere and delicious food. .http://www.royalrivergrillhouse.com/
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