03
Mar
By Todd Grey
Real Estate, ,

How To Keep Records For Your Real Estate Business

Anyone who is looking to build a successful real estate business needs to keep meticulous records. When buying and selling property, there are a lot of tax and legal responsibilities. While some people may not want to think about this issue, the IRS may audit a real estate business. In this case, it is critical to have documentation that demonstrates proof of income as well as any credits or deductions that might have been claimed. Some of the most common deductions that are claimed in the real estate business include depreciation, mortgage interest, repairs, insurance premiums, administrative costs, and property…
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02
Mar
By Todd Grey
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week -March 2nd, 2020

Economic readings released last week included Case-Shiller and FHFA Home Price Indices and reports on new and pending home sales. The week wrapped up with a report on consumer sentiment and weekly readings on mortgage rates and new jobless claims. Case-Shiller, FHFA Report Faster Home Price Growth Home prices rose by 3.80 percent year-over-year in December according to Case-Shiller’s National Home Price Index. Case-Shiller’s 20-City Home Price Index rose by 2.90 percent year-over-year in December as compared to November’s reading of a 3.50 percent gain over-over-year; Case-Shiller reported 0.40 percent growth in home prices from month-to-month. The 20-City Home Price…
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28
Feb
By Todd Grey
Mortgage, ,

Should I Pay Off My Mortgage Or Invest the Money?

To understand what to do with a windfall or extra disposable income when it comes to paying down a mortgage or investing the money, we need to discuss and understand the concept of opportunity cost. What Is Opportunity Cost? The concept of opportunity cost takes into consideration the total financial impact of the use of funds when applied in different ways, to be able to compare the effectiveness of how it is best to use them. The opportunity cost considers the risks involved, the potential reward, as well as the tax implications of the choices. Risk Versus Reward Evaluation All…
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27
Feb
By Todd Grey
Mortgage, ,

Find The Best Mortgage Deal With A Few Simple Steps

Currently, this is a great time to be in the market for a new home. The interest rates on mortgages have fallen countless times over the past few years. Even though interest rates have been in the double-digits in the past, there are homeowners today who are able to agree to a mortgage for less than three percent.  Despite the low interest rates, it is still important to get the best possible deal. There are a few simple steps that everyone should follow to get the best mortgage deal possible. Know How Much You Need The first step is to…
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26
Feb
By Todd Grey
Mortgage, ,

Ensuring Home Contractors Are Following The Rules Under HICPA

There are many homeowners who hire contractors to make repairs or upgrades on their homes. It is critical for home improvement contractors to follow all rules and regulations set forth by the law. These regulations have been set forth under the Home Improvement Consumer Protection Act, or HICPA.  An Overview Of The Home Improvement Consumer Protection Act The Home Improvement Consumer Protection Act was put forth to ensure that homeowners and contractors come to an appropriate agreement. Some of the rule and regulations that are included in the Home Improvement Consumer Protection Act include: All contractors need to obtain a…
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