Archive for the Business, Finance, Mortgages, Taxes Category

Death and Taxes! Is Tax Reform Possible?

April27
"Tax It" - The Miller Brothers Are we glad that tax season is over for 2012??  Well, really "tax season" is never over!  Tax fairness seems to already be dominant themes in a year with a presidential election in the fall. And, "Fair" is in the eye of the beholder!!  Many different tax proposals have been put forth by various committees and government representatives, but most believe that these proposals stand little chance of being enacted into tax law. Following is a brief overview of several different tax proposals: Bowles-Simpson Plan: The National Commission on Fiscal Responsibil… Read More

NOTE TO SELF: The Mortgage Interest Deduction is Limited Per Residence! ;-)

April25
Backstreet Boys - "Don't Try This at Home" Interesting story and tax case:  A recent U.S. Tax Court ruling clarified the IRS position that the $1.1 million limit for mortgage interest deduction applies per residence and not per taxpayer as some homeowners were hoping. A married homeowner filing jointly can have fully deductible interest on a mortgage of up to $1,000,000 of acquisition debt and up to an additional $100,000 of home equity debt. If the married couple files separately, each party is limited to deducting the interest on half of those maximum amounts. The court case came… Read More

April 2012 Portland Metro Real Estate Update!!

April20
"Crazy" - Gnarls Barkley APRIL 2012 PORTLAND METRO REAL ESTATE UPDATE!!! Hi again…what, so soon???!!!  Yes, last month's update was late and so here I am again in your "in-box"!!!  What's happening in our real estate market???  It's a bit crazy, a "gold-rush"!  There is a lot of pent-up buying energy, mixed with some positive economic news, add in a dash of "close-to-bottomed-out-prices" (if not totally bottomed out), then stir with a hint of the possibility of interest rates rising and you have a "flambé" (I'm talking like I actually know how or have time to cook?).  Now, mont… Read More

Housing Affordability Could Be at the Best Levels We Might See in Our Lifetime???

April12
"Money's Too Tight to Mention" - Simply Red The Housing Affordability Index was developed over thirty years ago to help consumers determine when it is a good time to buy a home. It's considered advantageous to the buyer when the index is over 100 because a median income family can qualify for a median price home. Recent figures released by the National Association of REALTORS' economic department show that the 2011 index of 184.5 is the highest annual average since it has been calculated. The most recent month released, December 2011, was 194.9. The index is also broken down into four … Read More
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