Archive for September, 2010
The Advantages Of Selling Your Own Home
There are two ways to sell your home: by going through a realtor and by doing it yourself.
there is a free ebook: 101 Tips For Selling Your Housefor you to download which helps you overcome any problems you may face if you sell your house without a realtor from a link at the bottom of this page.
The do it yourself method is also known as for sale by owner. As with anything that requires professional assistance selling your home with the aid of a realtor is going to cost you. On the flip side however selling your home for sale by owner can also cost you but not as much.
The choice comes down to the question of what you would most like to save time or money.
If utilizing a realtor you will save yourself some time but not necessarily loads of time because there is a level of involvement that you must maintain in order to pick out the best deal for your specific situation. If selling your home for sale by owner you will indeed save yourself loads of money because the only thing you are paying for out of pocket is the cost of your advertisement methods.
Selling your home through a realtor can be not only an expensive method but also a difficult selection process when trying to decide which real estate agency to go through. Once this decision is made you must now work with the realtor to negotiate your terms and conditions for the sale of your home.
The realtor is paid according to the final selling price of your home. A commission of anywhere from 1 to 3 percent is charged at the closing. It goes without saying in this situation that a benefit of for sale by owner selling without the aid of a realtor is one of cost. Simply put you get to keep the proceeds of selling your home if you do it yourself.
Although real estate agencies gain exposure in the world of potential homebuyers by the use of their company’s name your for sale by owner home does not get individual exposure on the level that would be given to it if you were to do your own advertising. A for sale sign does indeed go in the yard of your home with the name of the agent as well as the agency and a contact phone number but this is comparable to placing a for sale by owner sign with the same information sans the agency name.
The remainder of the process involves the home being listed in what is known as the MLS or Multiple Listing Service. This is a long list of homes being offered for sale by numerous real estate agencies. Once again your for sale by owner home will not be given the specific exposure it could be given if you were to do your own advertising.
The true benefit of selling your home for sale by owner versus utilizing a real estate agency is the control factor.
You are in complete and total control of the entire transaction from start to finish.
This is often the most necessary factor in selling. With yourself in the proverbial driver’s seat you are free to advertise in the way you see fit and to use the method you see fit.
You are also free to keep all profits from the final sale and this is usually enough to reassure the seller that the for sale by owner route is the right path to take.
If you bear the above in mind you should have no trouble in selling your house on your own.
About the writer: REW Writers is a collective publication network facilitated by Real Estate Webmasters each article is contributed by a member of our real estate community. This particular article was submitted on behalf of Charlie Pigeon. Charlie Pigeon is a professional Southwest Florida Real Estate expert.
Tax Reduction Casualties Can Generate Substantial Tax Reduction
Tax Reduction Casualties Can Generate Substantial Tax Reduction
Tax reduction are the results from tax deductions. Tax deductions reduce taxable income but do not directly reduce federal income taxes. For example 100000 of tax deductions reduces federal income taxes by 35000 100000 X 35 assuming a 35 tax rate. Most tax reduction require a cash expenditure labor material supplies utilities etc. A current period cash expenditure is not required for some real estate tax deductions and may not be required for a casualty loss.
A casualty loss may occur as a result of a flood hurricane tornado mudslide or other natural disaster. The intuitive thought pattern is: My apartment complex worth 5000000 suffered major damage totaling 1500000 for repairs and rent loss. Fortunately I was completely covered for both physical damage and rent loss other than a small deductible. There is clearly no casualty loss which will generate tax reduction right?
Most real estate owners and investors believe the above statement to be true. Few investors claim the casualty loss tax reduction the federal income tax code allows them. Lets next review the criteria for a casualty loss tax deduction and the thought process regarding acquisition of a property that has suffered a casualty.
Real estate owners suffer a casualty loss when the market value immediately after the casualty plus insurance proceeds is less than the market value immediately before the casualty. The complex issue is how to value the property immediately after the casualty. Lets consider a 1story suburban office park in Mississippi which suffered 3feet of flooding due to Hurricane Katrina. Lets further assume: 1 8 feet of sheet rock must be replaced in the entire property to rebuild 2 although the property was 90 occupied before the flood occupancy is expected to only be 5 while rebuilding occurs 3 stabilized occupancy after renovation is not clear since some businesses may not return 4 construction will take 1218 months due to the labor constraints and 5 the owner has casualty insurance to rebuild but did not have rent loss/business interruption insurance.
It is clear the market value after the casualty is less than the market value before the casualty less construction costs. Other factors to consider are: rent loss market risk that not enough tenants will be available after construction is completed cost of construction management a illiquid market with few buyers just after the casualty construction risk interest rate risk rates could rise during the construction period negatively affecting value risk that operating expenses could increase during the construction period perhaps insurance and compensation for entrepreneurial effort to induce a buyer to coordinate labor capital management and endure the previously mentioned risks.
A careful analysis by an appraiser might show the improvements have no value after the flood. In appraisal assignments performed by the writer a casualty loss of 1030 of the market value before the casualty has occurred in a straightforward defensible analysis is typical. This can generate a meaningful casualty loss tax deduction which results in tax reduction.
For example a property with a market value of 5000000 suffers a 30 casualty loss. While the casualty is a serious hardship for the owners the 1500000 5000000 X 30 tax deduction will mitigate the financial loss. Based upon a 35 tax rate the tax reduction is 525000.
Congress provided a casualty loss tax deduction to encourage investment in real estate. If you have the misfortune to suffer a casualty loss take the helping hand offered by congress and take the tax deduction.
Click here for a FREE preliminary analysis of income tax savings for your property.
Cost segregation produces tax deductions and reduces federal income taxes across the country and in every size market. Below are just a few examples of cities where cost segregation generates meaningful tax deductions.
City:
- Memphis TN
- San Francisco CA
- New Orleans LA
- New York NY
- Hartford CT
- Las Vegas NV
- Los Angeles CA
- Atlanta GA
- Orlando FL
- Miami FL
- Louisville KY
- Salt Lake City UT
- Boise ID
- Lakeland FL
- Wichita KS
- McAllen TX
- Columbus OH
- Ft. Lauderdale FL
- San Antonio TX
- Durham NC
- Allentown PA
- Youngstown OH
- Little Rock AR
- Greensboro NC
- Greenville SC
- Kansas City MO
- Raleigh NC
- San Jose CA
- Palm Bay FL
- Honolulu HI
Cost segregation produces tax deductions for virtually all property types including the following:
Property Type:
- Regional mall
- Service station
- Drugstore
- Night club
- Supermarket
- Racket club
- Auto service garage
- Airplane hangar
- Nursing home
- Subsidized housing
Almost every industry including the following can generate costefficient tax deductions by using cost segregation.
Industry:
- Nondurable good wholesalers
- Durable good wholesalers
- Day care facilities
- Computer and electronic manufacturing
- Health care facilities
- Chemical manufacturing
- Printing activities
- Warehousing and storage
- Electronic and appliance stores
- Apparel manufacturing
OConnor Associates is a national provider of commercial real estate consulting services including cost segregation studies due diligence insurance valuations tax deduction tax reductions cost segregation market study feasibility studies property tax market research condemnation appraisal gift tax lease abstraction casualty loss Fort Bend Central Appraisal District Tips and Tricks for Appealing Your Property Taxes in Harris Harris county appraisal and Federal tax reduction. Our appraisers have experience with all types of property including department stores research and developments lumber storages fast food restaurants convenience stores retail centers airplane hangars lodgings daycare centers hotels truck stops manufacturing/processing facilities greenhouses and auto dealers.
About the writer: Patrick C. O’Connor has been president of O’Connor Associates since 1983 and is a recipient of the prestigious MAI designation from the Appraisal Institute. He is also a registered senior property tax consultant in the state of Texas and has written numerous articles in state and national publications on reducing property taxes. He continues to set the standard in direction and quality of our appraisal products adding services ranging from business valuations and business appraisals to cost segregation analysis for income tax reduction.
Spice Up Your Stay In Costa Blanca Property
If you are planning to buy Costa Blanca property to stay there then be prepared for a wonderful place that beckons millions of travellers each year. Every Costa Blanca property is like hot piece of cake. This is not only because Costa Blanca properties are very luxurious but also because the area is very beautiful and has a lot to offer.
Costa Blanca belongs to the Province of Alicante in Spain. It is spread over two hundred kilometres of coastline and extends from the town of Denia in the north to Torrevieja in the south. It is one of the most famous tourist destinations of earth because of its scenic beauty and architecture.
The Weather of Costa Blanca
World Health Organisation has labelled the climate of Costa Blanca as one of the healthiest climates in the world. The weather of this region is dry as there is little rainfall and a good warm sunshine can be expected for more than three hundred days in a year.
The Festivities of Costa Blanca
Costa Blanca like every other region of Spain has a number of fiestas and festivals lined up for the year. If you live here life is never without celebrations and jubilations. The most important Catholic tradition of the year is Easter Week. Apart from that there is Moors and Christians San Juan Bonfires San Vicente Ferrer Fire festival May fiesta Patron Saints’ Day and many small and big ones that are celebrated here.
Entertainment does not end with fiestas. There are many other things that you can enjoy here if you stay in a Costa Blanca property. You can enjoy sports activities like bull fighting golf etc. You can take part in the water sports or simply stroll in the golden sands of the coast.
You can enjoy yourself thoroughly when you are here. So book your Costa Blanca property today and enjoy a life of fun and frolic.
About the writer: Brittney Jackeline is a well known professional writer. She has won appreciation especially for good writing about Spanish Real Estate topic like properties in Spain.
