Category Archives: News you can USE!

Unique GEM located in Springfield has the Wow factor!

01 Tuesday May 2018

Posted by in News you can USE!

≈ Leave a comment

Tags

, , , , ,

http://www.tourfactory.com/1790910 Enjoy the Tour!

IMG_5096

This home will not disappoint w/ its soaring 23” ceiling, large beams, varied ceiling heights, & wall of windows that looks out over the massive deck & reinforced bulk head pond. Amenities in this 4 bed, 4 bath home with SUN-ROOM, LOFT, and OFFICE are numerous.The kitchen features a 2 drawer Dishwasher, DOUBLE OVEN with warming tray, triple sink w/ disposable, ISLAND w/ hot water tap, sink, & disposable, you will love the POT filler over the gas 5 burner stove, wine cooler, ice maker, and slab granite on the island, large snack bar that sits 6. You have more than enough storage with the large walk in pantry, upper and lower cabinets and pull out drawers, large closets everywhere to be found. In the master, you and yours will have additional privacy w/ separate baths & walk in closets. Over-sized laundry, separate cabinet areas & utility sink along with a garage sink gives you additional comfort & care with all your laundry & outside needs. EASY maintenance w/ ceramic tile throughout most of the home, & hardy plank siding on the exterior. Nice 8 FT. doors, upscale light fixtures, fans, and hardware finish off the details of this custom-built home WITH post tension slab. If you like to entertain, the complete open flow of the home with the massive deck allows for any type of occasion that you have in mind, and everyone will enjoy the built BOSE speaker system both inside and outside the home. This home has it ALL and completes its comforts w/2. 15K generators that will keep your home up and running. The two attic entrances are floored for ample storage, along with an outside storage and LARGE workshop area. One One more perk is the parking area for any travel trailer with full hook ups with a 30 /50 amp & dump station. Now all that sits on 3.727 acres in a non-flood and never flooded CUSTOM BUILT HOME! If you are looking for privacy & luxury in the country you you must Drive out and Take A TOUR today

DCIM100GOPROGOPR0528.

Amazing Listing in Springfield, La.

19 Thursday Apr 2018

Posted by in News you can USE!

≈ Leave a comment

Tags

, , , , ,

https://rem.ax/2Hf59yw CLICK THE LINK

cropped-img_5096.jpg

This home will not disappoint w/ its soaring 23′ ceiling, large beams, varied ceiling heights, & wall of windows that looks out over the massive deck & reinforced bulk heard pond. Amenities in this 4 bed, 4 bath home with SUN-ROOM, LOFT, and OFFICE are numerous.The kitchen features a 2 drawer Dishwasher, DOUBLE OVEN with warming tray, triple sink w/ disposable, ISLAND w/ hot water tap, sink, & disposable, you will love the POT filler over the gas 5 burner stove, wine cooler, ice maker, slab granite on the island, large snack bar that sits 6. You have more than enough storage with the large walk in pantry, upper and lower cabinets and pull out drawers, large closets everywhere to be found. In the master, you and yours will have additional privacy w/ separate baths & walk in closets. Over-sized laundry, separate cabinet areas & utility sink along with a garage sink gives you additional comfort & care with all your laundry & outside needs. EASY maintenance w/ ceramic tile throughout most of the home, & hardy plank siding on the exterior. Nice 8 FT. doors, upscale light fixtures, fans, and hardware finish off the details of this custom-built home WITH post tension slab. If you like to entertain, the complete open flow of the home with the massive deck allows for any type of occasion that you have in mind, and everyone will enjoy the built BOSE speaker system both inside and outside the home. This home has it ALL and completes its comforts w/2. 15K generators that will keep your home up and running. The two attic entrances are floored for ample storage, along with an outside storage and LARGE workshop area. One One more perk is the parking area for any travel trailer with full hook ups with a 30 /50 amp & dump station. Now all that sits on 3.727 acres in a non-flood and never flooded CUSTOM BUILT HOME! If you are looking for privacy & luxury in the country you you must Drive out and Take A TOUR today

 

Case Study – Housing Decision During Retirement

16 Monday Apr 2018

Posted by in Helpful Information, News you can USE!, Timely Advise

≈ Leave a comment

Tags

, , , , , ,

A couple is planning to tour the United States in a travel trailer during their first few years of retirement. They are going to sell their current home now and purchase another home when they finish their travels.

30349530-250.jpg

An interesting exercise is to determine the optimum time of selling the home: now or when they’re ready to buy their replacement home.

If they intend on traveling for more than three years, then, it may be a good decision to sell prior to the sojourn to avoid paying taxes on the gain in their home. IRS allows for a temporary rental of a principal residence while still keeping the $250,000/$500,000 capital gains exclusion intact. A homeowner must own and use a home for three out of the previous five years which means that it could be rented for up to three years, but it would need to be sold and closed before that three-year window expires.

If the travel will be less than three years, there is an option of selling now or later. Using the example below, the homeowner sold the home, paid their expenses and invested the proceeds in a three-year certificate of deposit until the replacement home was purchased.

case study retirement-1.jpg
As an alternative, if the homeowner rented the home, not only would they have income, the home would continue to appreciate and the unpaid balance would go down resulting in larger net proceeds. Based on a 5% appreciation and continued amortization of the mortgage, the net proceeds could easily be $40,000 more.

case study retirement-2.jpg
Obviously, there are a lot of considerations that affect the decision to sell now or later but in an appreciating real estate environment, being without a home for several years could affect the financial position of the owner in the replacement property. It is certainly reasonable to look at various alternatives before making a decision. Call me at (225) 291-1234 to help you look at the different possibilities and talk to your tax professional.

New Listing near the town of Livingston!

14 Saturday Apr 2018

Posted by in News you can USE!

≈ Leave a comment

Tags

, , , , ,

1

Exceptional SPACIOUS home offering 3 bed/ 2 bath with office, plus an outside ALL PURPOSE room with kitchenette and bath along with a built in salt water POOL and large two CAR garage with amazing storage. All NEW PAINT, NEW wood Laminate flooring, new pool liner …updates inside and out, all this along with large kitchen that has an ISLAND and snack bar with lots of windows in dining area and living area, large great room for family to enjoy along with a SPLIT floor plan for a private master suite. You will love the large master and private master bath along with your own private patio/deck. There is plenty of storage room with two walk in closets along with a separate tub and shower. Lots of privacy on .761 of an acre including a completely fenced in in-ground salt water POOL where you can sit outside under the patio and enjoy the summer season at your own little oasis. The two Car 24 x 28 garage has plenty of room for additional storage along with a side entrance door and two roll up doors. The All purpose room has been nicely updated with a kitchenette, and bathroom. This would make a great Mother-in-law suite, Game ROOM for the kids, office, man’s cave, or she shed, you name it. All updated and ready for you. There is so much to admire and love about this unique and special home. Make sure to schedule your private showing today. http://www.tourfactory.com/1971347

 

Waiting Period After Distressed Sale

09 Monday Apr 2018

Posted by in Helpful Information, News you can USE!, Timely Advise, Who New?

≈ Leave a comment

Tags

, , , , , , ,

“How long do we have to wait to qualify for another mortgage” is the question concerning people who’ve had a foreclosure, short sale or bankruptcy. The loan types for the new loan will differ in amounts of time to heal credit scores based on the event.

43296989-250.jpg

The following chart is meant to be a general guide for how long a person might have to wait. During this waiting period, it’s important that the person be current on all payments and maintains a history of good credit.

A recommended lender can give you specific information regarding your individual situation and can make suggestions that will improve your ability to qualify for a mortgage. This process should be started before looking at homes because of the time constraints listed here can vary based on current requirements and possible extenuating circumstances of your case.

Waiting periods Distressed sales 2.png

We want to be your personal source of real estate information and we’re committed to helping from purchase to sale and all the years in between. Call us at (225) 291-1234 for lender recommendations.

Waiting Will Cost More

02 Monday Apr 2018

Posted by in Helpful Information, News you can USE!, Timely Advise

≈ Leave a comment

Tags

, , , , ,

With the first quarter of 2018 in the books, the 30-year fixed rate mortgage is nearing what Freddie Mac predicted it would be in the second quarter. If this pace continues, rates will exceed the five percent mark expected by the end of the year.

42814186-250.jpg

The Fed has had its first of an expected three raises for this year and two more are expected in 2019. While these rates are not directly related to mortgages, they certainly have an effect.

Delaying the decision to purchase or refinance could be an expensive missed opportunity. A $270,000 mortgage at 4.44% has a principal and interest payment of $1,358.44 per month. If the rate were to rise one-percent in the next twelve months, the payment would be $1,522.88.

The $164.44 increase would cost a homeowner an additional $13,812.97 in seven years and close to $60,000 over the full term of the loan.

The question facing people is “what would you spend $164.44 each month if you had acted sooner to get the lower rate?”

If you’re curious to know what your “missed opportunity” could be costing you, try this Cost of Waiting to Buy calculator . Use 0% increase on price change if you are refinancing a home you already own.

FHA Advantages

26 Monday Mar 2018

Posted by in Helpful Information, News you can USE!, Timely Advise

≈ Leave a comment

Tags

, , ,

The Federal Housing Authority, operating under HUD, offers affordable mortgages for tens of thousands of buyers who may not qualify for other types of programs. They are popular with both first-time and repeat buyers.

The 3.5% down payment is an attractive feature but there are other advantages:

fha3.png
  • More tolerant for credit challenges than conventional mortgages.
  • Lower down payments than most conventional loans.
  • Broader qualifying ratios – total house payment with MIP can be up to 31% of borrower’s monthly gross income and total house payment with all recurring debt can be up to 43%. There is a stretch provision taking it to 33/45 for qualifying energy efficient homes.
  • Seller can contribute up to 6% of purchase price; this money must be specified in the contract and can be used to pay all or part of the buyer’s closing costs, pre-paid items and/or buy down of the interest rate.
  • Self-employed may qualify with adequate documentation – two year’s tax returns and a current profit and loss statement would be required in addition to the normal qualifying and underwriting requirements.
  • Liberal use of gift monies – borrowers can receive a gift from family members, buyer’s employer, close friend, labor union or charity. A gift letter will be required specifying that the gift does not have to be repaid.
  • Special 203(k) program for buying a home that needs capital improvements – requires a firm contractor’s bid attached to the contract calling for the work to be done. The home is appraised subject to the work being done. If approved, the home can close, the money for the improvements escrowed and paid when completed.
  • Loans are assumable at the existing interest rate with buyer qualification. Assumptions are easier than qualifying for a new mortgage and closing costs are lower.
  • An assumable mortgage with a lower than current rates for new mortgages could add value to the property.

Finding the best mortgage for an individual is not always an easy process. Buyers need good information from trusted professionals. Call (225) 291-1234 for a recommendation of a trusted lender who can help you.

Standard or Itemized

19 Monday Mar 2018

Posted by in News you can USE!, Timely Advise

≈ Leave a comment

Tags

, , , ,

Taxpayers can decide each year whether to take the standard deduction or their itemized deductions when filing their personal income tax returns. Roughly, 75% of households with more than $75,000 income and most homeowners itemize their deductions.

Standard or Itemized-250.png

Beginning in 2018, the standard deduction, available to all taxpayers, regardless of whether they own a home, is $24,000 for married filing jointly and $12,000 for single taxpayers.

Let’s look at an example of a couple purchasing a $300,000 home with 3.5% down at 5% interest. The first year’s interest would be $14,630 and property taxes are estimated at 1.5% of sales price would be $4,500.

The interest and property taxes would provide a combined total of $19,130 which is less than the $24,000 standard deduction. Unless this hypothetical couple has other itemized deductions like charitable contributions that would make the total exceed $24,000, they would benefit more from taking the standard deduction.

If the mortgage rate were at 8%, the combined total of taxes and interest would be almost $28,000 which would make itemizing the deductions more beneficial.

Tax professionals will compare available alternatives to find the one that will benefit the taxpayer most. For more information, see www.IRS.gov and consult a tax advisor.

FAIR SKIES ON THE HORIZON

27 Tuesday Feb 2018

Posted by in News you can USE!, Timely Advise

≈ Leave a comment

Tags

, , , ,

Buyers who have been concerned about what might happen to the tax laws affecting home ownership should feel more comfortable about moving forward with their decision to purchase. The 2017 Tax Cut and Jobs Act passed by Congress and signed by the President continues to treat real estate as a favored investment.

31496145-250.jpg

Whether it is for a home to live in as your principal residence or to use as rental property, the tax laws are in place but other dynamics to be concerned with are not; mortgage rates are expected to rise as well as prices.

Reasons to buy now:

  1. The mortgage interest deduction is intact for most taxpayers.
  2. The capital gain exclusion for principal residences up to $500,000 remains in place.
  3. Taxpayers can elect annually to take newly increased standard deduction or itemize deductions whichever will benefit them the most.
  4. The house payment with taxes and insurance is most likely cheaper than the rent.
  5. Rents will continue to rise making the difference even greater in the future.
  6. Lock-in the principal & interest payment with a fixed-rate mortgage.
  7. 30-year mortgage terms are available to most borrowers.
  8. Prices will likely increase due to lower inventories and several years of low housing starts.
  9. Section 1031 exchanges, capital gains and depreciation remain the same for rental properties.

For a summary of specific real estate provisions in the 2017 Tax Cut and Jobs Act, click here.

20903 Illinois Street Livingston, La. 70753

14 Wednesday Feb 2018

Posted by in News you can USE!

≈ Leave a comment

Tags

, , , ,

Take a Tour and let me know when you would like to schedule your private showing.

<table><tr><td>http://www.tourfactory.com/yt1807989/ap_1</td></tr><tr><td style=”text-align: right;”><a href=”http://www.tourfactory.com/1807989″>View the Tour</a></td></tr></table>