AMERICA'S 30 UNDER 30 REALTOR
The Real Estate Market is ALIVE!!!! I am so happy to be able to be practicing real estate at this time; I am also grateful for the learning curve during the last three years while the market was slow. It is so exciting to list homes and watch them go under-contract after 2 days, with multiple offers. I am SO excited for the energy and movement.
Call me for any questions you may have.
The one good thing that came out of September 11, 2001 is the years to follow and watching the United States for one whole day remember those that were taken and the effects. It has been 11 years since that horrible day and yet we are just now starting to see the economy come back. Not only were far too many lives taken that day, but we as an economy truly died. We must now pull together and protect what is ours and build it up again. Let’s no worry about who or what becomes the next president because we all know that is a joke; but rather instead become the change.
This morning I logged on to my FB account and scrolled down onto amazing photos and words my friends and family had posted and shared.
May we never forget(*)
This past March I was fortunate to attend a conference in Florida and it was stated there that millennials age group are living with parents as opposed to on their own. This is due to the financial standing of our country as well as the upbringing in which my generation was raised in. I am well aware of the fact that I am included in the entitlement group; we as a whole believe we are due certain things just because we desire them.
I am definitely a lucky girl that was able to own real estate at a very young age. I just recently built a home; and put 20% down on it in order to avoid M.I. (mortgage insurance).
With a new law passing short sales may actually become something worth while for average buyers. This is super exciting and we as Realtors are very hopeful!
I am sad to be closing on two deals with two very fun clients. My first one was on Monday, with Joe and Kristin. Man those two went through WAY too much in the last couple of months. I am so incredibly happy for them and their exciting new journey towards marriage, but I am also so very sad to not see/talk to them everyday. During their buying process I had the opportunity to be a part of Joe’s proposal to Kristin and I felt so very honored. They are the cutest couple in the world!
My second closing took place this afternoon with a gentleman moving here from Boston. He is a great catch for all you single ladies 🙂 He got a steal of a deal! The day after we submitted an offer for $30,000 off of asking price they received a FULL price offer, but the sellers ethically continued forth with our offer. I am so happy for my client and the amazing deal he got for a home in the avenues!
NBD that this “tree house” will cost almost as much as one of my homes!
I am currently doing a deal with some of my best friends. I was actually given the chance to have a small role in their proposal story a few weeks back, July 7th to be exact.
This deal has been quite a struggle due to the fact that the other agent refuses to communicate with me. After the inspection had taken place we were left with items needing to be repaired; including MOLD! The buyer’s fiancee and I have worked together to assure that this be taken care of appropriately and effectively. I am so grateful to be blessed with such amazing clients that make my life and job that much more fun.
We are hoping to close next week for them on a FABULOUS home!
There are times when it is better for a person to rent, but most often home ownership has many more benefits and advantages.
About 10 year ago a had a retired aunt and uncle who rented a condo in Las Vegas. Uncle Jim (not his real name, but that’s what I’ll call him) was a retired minister. Throughout his career he and his wife lived in parsonages, which are homes furnished by the congregation while they ministered there.
He and his wife told me that the biggest mistake they ever made was not to invest in buying a home. In their retirement years, when their other retired friends were living in homes that were almost paid off and had appreciated greatly, Uncle Jim and his wife were using a huge portion of their limited retirment money to make expensive condo rent payments. They strongly cautioned me not to make the same mistake they had.
Recent studies are showing that there are many benefits for both the owners and the community for owning your own home, including increased education for children, lower teen-age pregnancy rate and a higher lifetime annual income for children. Besides these, listed below are some of the primary advantages for owning your own house.
More Stable Housing Costs
Rent payments can be unpredictable and typically rise each year, but most mortgage payments remain unchanged for the entire loan period. If the taxes go up, the increase is usually gradual. This stable housing cost especially important in times of inflation, when renters lose money and owners make money.
Tax Savings
Homeonwers can be eligible for signifigant tax savings because you can deduct mortgage interest and property taxes from your federal income tax, as well as many states’ income taxes. This can be a considerable amount of money at first, because the first few years of mortgage payments is made up mostly of interest and taxes.
If you need to refinance to consolidate other debts (an opportunity you don’t have if you are renting) the interest on this is also tax deductable.
Equity
Instead of payments disapearing into someone elses pocket, home owners are building equity in their own home. This is often one of a person’s biggest investment assests. Each year that you own the home you pay more toward the principal, which is money you will get back when the home sells. It is like having a schelduled savings account that grows faster the longer you have it. If the property appreciates, and generally it does, it is like money in your pocket. And you are the one who gets to take advantage of that, not the landlord. You can then use this equity to plan for future goals like your child’s education or your retirement.
It is Yours!
When you own a home you are in control. You have the freedom to decorate it and landscape it any way you wish. You can have a pet or two. No one can pop in and inspect your home and threaten to evict you. You can consider having an ac installation and replacement or a furnace installation and replacement anytime you want for as long as it is needed. You may hire a professional hvac technician for air conditioning installation and 24 hour ac repair services. You can even consider having home additions with the help of a custom home builder.
Even young people, like college students out on their own, can often benefit from home ownership. It puts them ahead of other young people their age financially by helping with their credit and giving them what is often an excellent investment. Often a college student buying a home will rent the rooms out, and his or her roommates end up making the payments for the house. When the student is ready to move on, her or she can sell the home (hopefully making a profit) or keep it as an investment and continue to rent it.
Buying a home is an important decision. It is often the largest purchase a person makes in his or her life. Home ownership also comes with some increased responsibilities, and isn’t for everyone. There are some disadvantages to homeownership that you should take into account.
Increased Expenses
Your monthly expenses may increase, depending on your situation. Even if the monthly payments are the same, home owners still have to pay property taxes, all the utilities, and all the maintenance and upkeep costs for the home. Often you need to supply appliances that were furnished with a rental.
Decreased Freedom of Mobility
Homeowners can’t move as easily as a renter who just has to give notice to the landlord. Selling a house can be a complex and time consuming process.
Risk of Depreciation
In some areas with overinflated prices, there may be a risk that the house will depreciate instead of increase in value, if the prices go down. If you then sell the house, you may not get enough money from the home to pay back your mortgage, and you will still owe the mortgage company money.
Possibility of Foreclosure
If for some reason you are unable to make your payments, you risk having the lender forclose on your propety. This can result in the loss of your home, any equity you have earned, and the loss of your good credit rating.
When considering home ownership, you need to weight the advantages and disadvantages for yourself. If you are like most people, you will find that homeownership is worth the risks and disadvantages.
$$Money is what makes the world go round and round. In the hands of the wise it can be the worlds’ greatest instrument, but in the hands of the greedy many lives can be distroyed. I would like to teach my clients ways to beat the system so they can truly come out on top. My goal is to truly educate my clients so they can make decisions that will best suit their families needs.
Please follow me along on a journey though tax savings…
In section 1031 in the Internal Revenue Service (IRS) is a boon for a prospective investor, selling an investment property and wanting to make a profit by reinvesting in a similar property elsewhere in the country. This wonderful concept works on the principle of gain rolling from the old to the new.
There is widespread ignorance, due to the population being not well educated, on the modalities about this exchange; as a result, 30-40 percent of property owners end up paying tax during the sale. This is an absolute waste and is terrible. Exchange 1031 not only fructifies into essential tax savings, but also makes possible the swapping of property in the fairest manner at places of choice. No wonder that the 1031 Exchange excites the property market so much.
The new income-generating replacement property gives the investor the double gain of added income and savings from tax that would have otherwise gone to the IRS coffers.
Besides saving the buyer from a huge tax burden coming in the guise of capital gains, the instrument offers maximum immunity and flexibility in reinvesting the money gained from the sale in a replacement property within a given period.
The exchange being time-bound is no kid’s play either. In every exchange of this kind, Qualified Intermediaries (QI) plays a crucial role connecting the buyer and seller. The Federal Tax Code makes service of QI mandatory since 1991 in any exchange.
The federal nature of the 1031 Exchange regulations make the Qualified Intermediary play a wizard in guiding and structuring the exchange, satisfying all parameters and suiting the goals of the clients. It is the QI who does the paperwork required by the IRS to document the exchange. The QI carefully prepares all documents and serves the parties with copies of the exchange agreement, novation agreement and escrow instructions.
The Exchange Agreement reads like a contract between the Exchanger and a Qualified Intermediary. The Exchanger explicitly agrees to transfer his old property to the Intermediary, in lieu of a new property to be supplied by the latter within 180 days. The contract outlines all terms and conditions under which the exchange of properties should take place.
For a 1031 Exchange to take effect, both the old property as well as the new property should be in the category of investment property, capable of generating income. The examples could be rental property, bare land, vacation homes or more.
As soon as the old property is sold, within 45 days the seller has to come out with a list containing two or three probable properties fit for replacement. And the whole process of purchasing the new property or replacement property from the list must be over in a period of 180 days.
The exchange becomes bona-fide only when the title stays intact and whosoever held title to the old relinquished property gets the title of the new property.
In between the sale and purchase of property, the seller of the old property would get no access to the money he accrued from the sale, as the money will be vested with the ‘Qualified Intermediary’ (QI) till the exchange gets over.
This 1031 Exchange process has matured and had many names in the past including Like Kind Exchange, Deferred or Delayed Exchange, Simultaneous or Concurrent Exchange, Starker Trust or Exchange, Alderson Exchange, Reverse Exchange, Two, Three, or Four Party Exchange and Baird Exchange.
My goal us to help educate the population so we as a whole can avoid being taking advantage of. I can put you in contact with an awesome CPA, My loving uncle, and he can help you further regarding these matters.
Have a good day!
Buyers do not realize that the location and surrounding people will truly effect the outcome of their new home. I am grateful to report that our neighbors thus far are incredible! Everyone looks out for one another and truly has each others best interest at heart. It makes me feel truly “at home”. Unfortunately, this evening someone from “The Blair Witch Project” needed medical assistance. That darn circle always has a police car or ambulance down it. After talking to the police officers this evening they informed my husband and I that it is truly an eventful spot for South Salt Lake…. GREAT! ha ha
In our community we have talked about doing a progressive dinner so everyone can have tours of each others houses. SUPER FUN idea huh? I have created a fun Facebook Page for everyone to interact through called Terra Solar’z (get it? Since our houses are energy efficient).
I am off to help the hub dig trenches for our sprinkling system, no home should be without one these days. Manual watering is for the birds and truly dates one’s house!!!
LATER**