|
Change Affecting Personal
Residences and 1031 Exchanges...
A popular way of turning
investment property into tax free cash is to sell an investment
property, such as a four-plex, and then roll the gain into a single
family residence via a 1031 exchange.
Source:
The Experts,
December, 2004 - Website:
www.expert1031.com
Conforming Loan Limits Increased
to $359,650
The cap on a mortgage the
two government-sponsored enterprises can buy climbed to $359,650 from
$333,700 following a report that the average U.S. single-family home
price surged in October by 8.5 percent.
Source: Rod Dennis of America's Mortgage
Store,
December, 2004
How Can a 1031 Exchange
Work for Me?
A
1031 exchange can defer the capital gain taxes that are due
when you sell property that has increased in value or been depreciated
for tax purposes. These federal and state capital gain taxes can be
costly.
Source:
The Experts,
December, 2004 - Website:
www.expert1031.com
Mortgage and Taxes
Home
equity debt limit. There is a limit on the amount of debt that can
be treated as home equity debt.
Source: Rod Dennis of America's Mortgage
Store,
November, 2004
Market Trend Analysis -
October 2004
An assessment of current housing market
conditions and a short-term projection is made for each of the
metropolitan statistical areas. Additionally, there is an overall
picture of the economic health in each metropolitan statistical area
obtained by analyzing six major economic variables.
Source: MGIC, October, 2004
Valley Home Prices at
Record, Still Rising
A home-buying frenzy is pushing prices to
record levels in a number of metro Phoenix neighborhoods, delivering
double-digit increases in many spots and solid gains nearly across the
board.
Source: Glen Creno and the
Arizona Republic, October,
2004
Sales Gains Driven by Low
Rates
New home
sales jumped 3.5% in September 2004 to a seasonally adjusted annual rate
of 1.206 million. Economists’ estimates were for a small decline.
Source: New Home Sales, October, 2004
Asset Protection Nightmare
Real estate is a
common target of lawsuits and creditors. Is your investment protected?
If not, a limited liability company may be the solution.
William Gibney, Esq. of
Gibney and Associates, PLC
3420 East Shea Blvd, Suite
200, Phoenix, AZ 85028
Phone: 602.953.0006
· Email:
gibneylaw@cox.net
Source: Arizona
Journal of Real Estate and Business, September, 2004
OFHEO
House Price Index Shows Largest One Year Increase Since 1970's
Average U.S. home prices increased 9.36
percent from the second quarter of 2003 through the second quarter of
2004. Appreciation for the most recent quarter was 2.21 percent, or an
annualized rate of 8.83 percent. The figures were released today by
Armando Falcon, Jr., Director of the Office of Federal Housing
Enterprise Oversight (OFHEO), as part of OFHEO’s House Price Index (HPI).
The HPI is a quarterly report analyzing housing price appreciation
trends.
Source: Corinne Russell of the Office of
Federal Housing Enterprise Oversight (OFHEO), September, 2004
Interest Only Loans
Interest Only Loans are an excellent way
to finance a home. They allow the borrower the option of paying the
principal reduction on a loan when they want to instead of being forced
to do so by amortization.
Source: Rod Dennis of America's Mortgage
Store, September, 2004
Housing Price Bubbles
U.S. home values increased 8.0% in 2003,
the largest calendar year gain since an 8.3% increase in 1986. The boom
in house prices has drawn parallels to the multi-year stock market
bubble and its above-average gains from 1995 to 2000, followed by its
subsequent steep decline. Consequently, the idea of a house price
bubble is often floated by the media and then debated among economists.
In fact, there is an almost equal division between those that support
the thesis of a housing bubble and those who rationalize that current
house prices are in equilibrium.
Source: Annette L. Gnacinski of MGIC Insight,
June, 2004
|
