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 Very informative article- click here to view: How To Buy Real Estate With Leverage In A 401(k) Plan By: Adam Bergman, Forbes Only 23 condo listings on the market today in Cambridge. It's a great time to list your home.1/28/2016 Least Expensive $350,000 to Most Expensive $1,898,000  Helpful Tips for Tax SeasonWhile taxes aren’t officially due until April 15th it is a good idea to file your taxes as soon as possible to prevent identity theft by fraudsters illegally collecting your refund! Click here for information from the IRS on potential scams. The Federal Trade Commission offers additional information here.
(Beware! The IRS does not initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels). Now is the time to gather all of the documents you will need in order to file and to understand all of the deductions and benefits you may be eligible for as a homeowner. Mortgage Interest-Interest on a mortgage of up to $1 million may be deductible (certain rules apply depending on how you file) and PMI on mortgages obtained after 2007 may also be deductible. Other potential deductions include:
It is helpful to work with a CPA or tax preparer to ensure that you receive all of the deductions due to you, and that you file the correct forms and paperwork, including your HUD 1. The HUD1 is the itemized form received at closing outlining all of charges to the buyer (borrower) and seller in a real estate transaction closed prior to October 3rd 2015, and you may be required to file it with your taxes. If you purchased your home after October 3rd, 2015 you will have received a Closing Disclosure form (or CD). Regardless of when you purchased your home, if you cannot locate your HUD 1 or CD, contact your lender, they should be able to provide one for you. This is purely informational content. If you have any questions, the IRS has a wealth of information available here or consult a qualified tax preparer. content courtesy of Fairway Independent Mortgage, Newton ePlace Real Estate NewsJanuary, 2016 Three Cities that Missed the Housing Crisis  At the start of the year, it's fun to take a long view on some of our housing data. All through the housing crisis, which officially began somewhere in 2006, people were asking, "How are things in Cambridge? Have you recovered yet?" Yet in Cambridge, values dipped only slightly, and then picked right up starting in 2008. A similar story is true for Somerville and Brookline. And in the past three years prices have skyrocketed. The take-away? if security and location are your #1 goal, then buy in an "A" market, such as the above. Interact with the detailed data here. |
Dana SchaeferVice President, Realtor® Compass, Inc. Archives
January 2019
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