Scott Darling
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A few hours of exterior home and yard work can add thousands to your home’s value. Read
Visit houselogic.com for more articles like this.
Copyright 2013 NATIONAL ASSOCIATION OF REALTORS®
A few hours of exterior home and yard work can add thousands to your home’s value. Read
Visit houselogic.com for more articles like this.
Copyright 2013 NATIONAL ASSOCIATION OF REALTORS®
Whether you are thinking about leaving your .jpg)
because of employment, health, a desire for a change of scenery, retirement, etc., a move to a new location is not to be undertaken lightly and requires research on your part to be successful. While most potential transplants are aware of the need to check out housing costs, air quality, job market prospects, available health care, specific amenities, and school ratings, not all fully comprehend the economic impact relocation may have on their lives.
Areas worth investigating:
The purpose of real estate assessments is to fairly distribute a municipality’s tax burden among all property owners based on the market value of their property. Chester County PA real estate is assessed (generally 
annually) so that the costs associated with area schools, fire and police protection, and other necessary services and infrastructure can be allocated in proportion to the market value of individual properties.
Even as property values are on the decline, property taxes are on the rise nationwide, and, according to the National Taxpayers Union, as many as 60 percent of properties across the country are over-assessed.
So what is the owner of Chester County PA real estate to do? According to those “in the know”, there are steps you can take to reduce the assessment of your property’s value. Since the evaluation process begins in the spring, you would be wise to begin to take action in the following ways now:
The bottom line. Don't assume that your tax bill is set in stone. A little homework and due diligence can help reduce the burden.
Some sensible travel tips for you…
After the busy December season is over, holiday bills have been paid, and life has settled in to the doldrums of 
winter, many folks leave their Chester County PA home to treat themselves to a badly needed vacation or well-deserved weekend escape. Whether you plan to travel via plane, train, or car, these basic but helpful tips compiled by ASTA (American Society of Travel Agents) allow you to begin and end your trip on a positive note.
Before leaving:
Car travel:
Whatever your mode of travel, make sure you take time to rest, relax, and enjoy yourself !
Essential Questions to Ask Before Hiring a Contractor
You’re ready to remodel but you want to make sure you get the best contractor for the job. Here’s what to ask the candidates before you decide. Read
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Copyright 2013 NATIONAL ASSOCIATION OF REALTORS®
On January 1, 2013 both the Senate and House passed H.R. 8 legislation to avert the “fiscal cliff.” The bill will be signed shortly by President Barack Obama.
Below is a summary of real estate related provisions in the bill as summarized by the National Association of Realtors:
Under the agreement so called “Pease Limitations” that reduce the value of itemized deductions are permanently repealed for most taxpayers but will be reinstituted for high income filers. These limitations will only apply to individuals earning more than $250,000 and joint filers earning above $300,000. These thresholds have been increased and are indexed for inflation and will rise over time. Under the formula, the amount of adjusted gross income above the threshold is multiplied by three percent. That amount is then used to reduce the total value of the filer’s itemized deductions. The total amount of reduction cannot exceed 80 percent of the filer’s itemized deductions.
These limits were first enacted in 1990 (named for the Ohio Congressman Don Pease who came up with the idea) and continued throughout the Clinton years. They were gradually phased out as a result of the 2001 tax cuts and were completely eliminated in 2010-2012. Had we gone over the fiscal cliff, Pease limitations would have been reinstituted on all filers starting at $174,450 of adjusted gross income.
Capital Gains rate stays at 15 percent for those in the top rate of $400,000 (individual) and $450,000 (joint) return. After that, any gains above those amounts will be taxed at 20 percent. The $250,000/500,000 exclusion for sale of principle residence remains in place.
The first $5 million dollars in individual estates and $10 million for family estates are now exempted from the estate tax. After that the rate will be 40 percent, up from 35 percent. The exemption amounts are indexed for inflation.
As the gift-giving season rapidly approaches, some parents are considering a sizable and meaningful present for their children and/or grandchildren - Chester County PA real estate. This is the sign of a solid trend, since a growing number of parents are currently helping their children purchase homes, whether they’re buying these homes for their sons and daughters outright, helping them pay for closing costs, or coming up with the money for their down payments.
While such a gift is certainly in keeping with the spirit of the season, those who are giving or those relying on monetary donations from their parents or family members to buy Chester County PA real estate should follow some fairly simple underwriting and IRS rules.
As with all major financial decisions, you would be wise to consult your accountant and/or tax attorney before gifting monetary assistance for the purchase of Chester County PA real estate or the property itself.
In a recent study, the Chicago Booth/Kellogg School Financial Trust Index found that a full 36% of Americans would consider “strategic default”—another term for walking away from your mortgage—if they were underwater (owed more on their home than what it was worth).
Now that more than one in four American homeowners is “underwater,” I feel that it’s important for the community to know the truth about strategic default.
The truth is the foreclosure process carries with it credit issues, current and future employment challenges, issues with security clearance and possible debt collections.
That’s why it is vital to explain the 3 reasons why the term “strategic default” is misleading:
If you are underwater and can no longer afford your mortgage payments, you need to create a genuine strategy to avoid foreclosure, helping to provide stability for you and our community.
If you have any questions about what steps you or someone you care about should take next, contact me today, [email protected] or 610-594-7268!
Displaying blog entries 441-450 of 530
