Mario Gonzalez - Wednesday, May 14, 2014
One of the most common reasons buyers want to deal directly with the seller is because they feel they can save the commission. It’s a valid consideration but interestingly, it’s the same reason the seller isn’t employing an agent; they feel they can save the commission. Both parties cannot save the commission. The buyer ...
Mario Gonzalez - Wednesday, May 7, 2014
Consideration associated with a contract is generally thought to be the price and terms but being sympathetic and courteous towards the seller could make a difference in getting the home you want. Business people, like store owners, expect to deal with customers and even come to expect behavior that might not be accepted in a purely socia...
Mario Gonzalez - Wednesday, April 30, 2014
Paying cash for a home seems like a huge advantage to qualifying for a mortgage and an appraisal. However, for the fortunate few who don’t need a mortgage, there is a question they should answer before they make that decision: Do you think at any point in the future, you might put a mortgage on this property? It’s important be...
Mario Gonzalez - Wednesday, April 23, 2014
94% of purchasers last year opted for a fixed-rate mortgage at some of the lowest rates in home buying history. Yet, some of them will pay more in interest than necessary based on the time they’ll own the home. If a person only plans to be in the home a few years, the adjustable-rate can offer significant savings. Not only is the in...
Mario Gonzalez - Wednesday, April 16, 2014
Section 1031 exchange for rental and investment real estate is a tool that allows investors to move the gain from one property to another without immediate income tax consequences. An instant benefit is to postpone the tax due which gives the investor a larger amount of proceeds to invest. In the example shown, the investor has 21% more p...
Mario Gonzalez - Wednesday, April 9, 2014
With interest rates lower than they’ve been in over 40 years, it may be difficult to think of a “window of opportunity” closing. However, it isn’t difficult to understand that it may very probably cost more to live in a home in the near future due to rising interest rates and prices. Zillow recently reported result...
Mario Gonzalez - Wednesday, April 2, 2014
IRS allows taxpayers the option to take the standard deduction or the itemized deduction. The astute taxpayer will compare to see which one will result in the greatest deduction and the election can be made each year. The 2013 standard deduction for a married couple filing jointly is $12,200 and $6,100 for a single taxpayer. It doesn&rsqu...
Mario Gonzalez - Wednesday, March 26, 2014
Prepaid interest, sometimes called “points”, is generally tax deductible when a person pays them in connection with buying, building or improving their principal residence. When points are paid on a refinance, they are not a current deduction but have to be taken prorata over the life of the mortgage. For instance, if $3,000 i...
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