Real Estate

an older couple looking at a house across the street

Estate Planning When You Remarry

Many marriages are blissfully successful, but many end in divorce. According to the American Psychological Association, 40-50% of first marriages end in divorce. For second marriages, the rate is higher, with 60-67% ending in divorce. This is a sobering statistic for someone considering remarrying. Marriages that create blended families, those that include children from prior […]

a small paper house with coins stacked in front of it

Your Home’s Equity Matters

Every time you make a mortgage payment or if your home’s value rises, you build your equity. But what is equity? It’s the difference between what you owe on your mortgage and what your home is currently worth. An equity example: If you owe $250,000 on your mortgage and your home is worth $350,000. You now […]

a young couple smiling holding keys to their new house

The Financial Details of Purchasing a Home

Congratulations! You have found your dream home, submitted an offer, and had it accepted. Your financing is in place. Now you cancel your lease and are ready to move into your new place. Suddenly you are informed that there are issues and closing is delayed. This can be a hassle and cost you significant money […]

Buying a Retirement Home With Cash

Maybe you have just sold your home and you are ready to buy your retirement home. Perhaps you are purchasing a second home where you will eventually retire. Either way, you have enough money to pay for your retirement home in cash. But should you? Here are few issues to consider: You will tie up […]

a couple holding house keys in their new home

Long-Term Advantages of Home Ownership

There are two big tax benefits you receive when owning a home: You can deduct the mortgage interest that you pay each year and you can deduct at least a portion of your property taxes. Mortgage Interest Deduction The most valuable tax benefit is the mortgage interest deduction. This perk allows you to deduct the […]

How to Prepare for a Smooth Home Closing

Whether you are in the process of selling your home or you are thinking about selling, it is important to know that sellers have an important role in the process. It’s far more than just picking the right listing price and marketing the property to the widest audience. There are certain steps in the process […]

What Kind of Mortgage Is Best for You?

Before you can apply for a mortgage, you will need to have a better grasp on what your options are and which of these mortgages is most appropriate for a given situation. You need to think about both your current situation and your long-term financial plans. Let’s start by taking a look at all the […]

Homeowners’ Deductions for Property Taxes on Personal Residences

Deductible levies for itemizers include their payments for income taxes, sales taxes, real estate taxes and personal property taxes. But those write-offs come with strings attached as to which ones qualify, when they’re deductible and how much is allowable. You should be aware that the IRS sets traps for unwary homeowners. While the IRS says […]

Home Sellers’ Profit Exclusions Aren’t One-Time Opportunities

The tax code authorizes “exclusions” that allow home sellers to completely sidestep federal and state income taxes on sizable portions of their profits when they unload their principal residences. The profit exclusions are as much as $500,000 for married couples who file joint returns and $250,000 for single filers and couples who file separate returns. So […]

Tax Breaks for Older Couples Selling Their Homes

Consider Julia, who recently became a widow when her husband, Henry, died. Like most married couples, they held the title to their home in joint ownership with the right of survivorship. In plainer language, this means that co-owner Henry’s death results in his loss of all ownership in their dwelling. Surviving co-owner Julia automatically acquires all […]