Archive | Uncategorized RSS feed for this section

Principle (Home or Residence) Defined Hopefully

In order to take advantage of the up-to-$500,000 exclusion of gain (or up-to-$250,000 if you file a tax return as a single taxpayer) the house you sell has to be your “principal residence”. Under most circumstances, we do not need a legal definition of this concept. “This is my house, and I have lived here […]

Continue Reading Comments { 0 }

(When & Why) to Transfer Title to Children?

Question. My wife and I are retired and are in our seventies. We have two children, and our house is currently worth approximately $300,000. We purchased the property many years ago for $32,000, and currently have a very small mortgage and a $40,000 home equity loan. We are debating on whether to sell the house […]

Continue Reading Comments { 0 }

What Are Boomerang House Buyers Doing

Are Millions Of Boomerang Buyers About To Ignite The Real Estate Market? Houston Prime Realty Remember all those people who defaulted on their homes during the last housing crisis? Well, those bankruptcies are about to be discharged, or they already have been, and that means we could soon see an avalanche of homebuyers hitting the […]

Continue Reading Comments { 0 }

1031 Tax Deferred for Real Estate Investors

Congress is currently talking tax reform. Two very important real estate benefits are on the so-called “chopping block”, either to be completely eliminated or significantly curtailed. It is doubtful that the home owner exclusion of up to $500,000 (or $250,000 if you file a single tax return) of profit will be impacted; there are too […]

Continue Reading Comments { 0 }

How NOT to Losing Your Earnest Money

Question: The contract I just signed to purchaser a house contained the following language: “If the buyer defaults, the earnest money will be forfeited to the seller. This is to be considered liquidated damages and not as a penalty”. Can you please explain what this means? Beth.Answer: Shame on you, Beth, for signing a contract […]

Continue Reading Comments { 0 }

Paying For College? Why Your House Can Be A Windfall

Some of us are deep in the land of college tours and scholarship research and trying to learn all we can about how to get our kids into their preferred school, and pay for it without having to pack up and live with them in their dorm. And, by “some of us”, I mean Yours […]

Continue Reading Comments { 0 }

8 Easy And Cheap Things You Can Do To Transform Your Bathroom

8 Easy And Cheap Things You Can Do To Transform Your Bathroom   Cringing every time you walk into your bathroom? You don’t need to rip the whole thing out. “Reviving a tired washroom needn’t require a total overhaul,” said This Old House. Indeed, small changes can help make it feel new again, and many […]

Continue Reading Comments { 0 }
Subscribe +
Feed Widget