Tax Benefits From Owning a Home

Daily Real Estate News  |  March 7, 2008

Tax Benefits of Owning a Home

Before a home owner curses the troubled housing market, he or she should take solace in the U.S. tax code, which makes buying a home a good deal for almost everyone.

Here’s why:

Mortgage interest deductions, including in some cases mortgage insurance premiums, reduce home owners’ tax liability by reducing income. The deduction includes interest paid on both a first and a second home.

Interest on home equity loans is also deductible whether the borrower uses the money to remodel the kitchen or to take a vacation to Disney World.

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New FHA Loan Limits

Special Report

HUD Releases New FHA, Conforming Loan Limits

(March 6, 2008) The U.S. Department of Housing and Urban Development today published new FHA and conforming

loan limits, based on median home prices as mandated by the Economic Stimulus Act signed by President Bush in

February. New loan limits for FHA and Fannie Mae and Freddie Mac are now calculated at 125 percent of the HUD

published median prices, with a floor of $271,050 and $417,000, respectively, not to exceed $729,750. NAR expects the

impact on the housing market to be significant because of the infusion of capital into the mortgage market, which should

result in lower interest rates across the board. In addition, there will be a direct impact on high-cost areas that previously

required borrowers to take out costlier jumbo mortgages. The new FHA loan limits can be accessed online. To find the

Fannie Mae and Freddie Mac conforming loan limits, on the HUD site choose "Fannie/Freddie" in the drop-down menu

called "Limit Type."

"We believe the economic stimulus bill will quickly have an impact on families and the nation's economy. The loan limits

for both FHA and Fannie Mae and Freddie Mac have been increased and this will act as a major stimulus for the housing

industry and for those people wishing to own a home," says Richard Gaylord, NAR president.

Read more: New FHA Loan Limits

Idaho Real Estate

Idaho Real Estate

Idaho Real Estate

Real Estate itself, is the most basic ownership of your piece of the world. Land ownership in the United states, consists of the property from your boundaries on the surface of the Earth all the way to the center of the Earth.  In early America, settlers, engineers and surveyors set out across this vast country to establish the US Geological Survey to be able to describe real estate or real property by "meets and bounds" descriptions.

Without giving you the full lesson on geological surveys, Idaho Real Estate legal descriptions are based on the Boise-Meridian which runs from a specific point (The Initial Point) located near Kuna, Idaho.  If you have ever read a true "meets and bounds" legal description for Idaho Real Estate, it will typically end with "...of the Boise-Meridian" or "BM".  Thus the name of the city of "Meridian" because it lands on this geological meridian line.

Idaho Real Estate Marker
Initial Point of Idaho

There are almost 54 million acres of land in Idaho. How do you know what land is yours?

Read more: Idaho Real Estate

Foreclosure Robbery

Daily Real Estate News  |   February 22, 2008

Man Robs Bank After Foreclosure

A masked gunman held up an Athens, Ga., bank on Thursday, saying that he was only getting his money back after the lender had foreclosed on his home.

Read more: Foreclosure Robbery

Idaho Foreclosures

Daily Real Estate News  |   February 5, 2008

Prime ARMs Fall Into Foreclosure Too

Subprime adjustable rate mortgages have gotten a lot of publicity, but the holders of prime ARMs are also going into foreclosure.

"The fact is the pain of the changing real estate markets is affecting more than just subprime borrowers," says Keith Gumbinger, vice-president of HSH Associates, a New Jersey-based financial information publisher. "It's more important to think of it as perhaps an ARM problem and a rate reset problem, not just a subprime problem."

Here are the top 10 states with the largest percentage increase in the last year of foreclosure actions relating to prime adjustable rate mortgages.

Read more: Idaho Foreclosures

Find Horse Properties Here!

Looking for a Horse Property?

Check out this up-to-date list directly linked from our active Intermountain MLS for Idaho Horse Properties!

Properties that will allow horses or accommodate horses can be seen right here!  Some of these homes will have a barn or shop, others will just have enough room for a small pasture and yet many more may have large acreages.  To refine your search, go here!

Read more: Find Horse Properties Here!

7 Business Strategies

If you haven't read the book, the "E-Myth" yet, I suggest you purchase a copy & follow it's great advice!

The book covers 7 basic Business Development Strategies that can help make your operation flourish (If utilized and managed well).  I hope you enjoy:

Read more: 7 Business Strategies

Outdoor Idaho

Idaho Outdoor Sports

Whether it's fishing, hunting, snowmobiling, skiing, rafting, hiking or just getting out to smell the fresh wild flowers, IDAHO is a great place to settle in!

Idaho ATV           snow mobile      

I've just prepared a small blog with some links to various Idaho outdoor activities, including the Idaho Horse Park, RV'ing, ATV's and dirt bike trails & more!

 skiing          hunting       Idaho Steelhead

If you want to check out the great Idaho Outdoors, please take a quick visit!

Read more: Outdoor Idaho

Why is my House not Selling?

You may be a frustrated home owner who is wanting to sell & nothing seems to be happening! 

  • Is it just the market?
  • Are there any buyers out there?
  • Is it my agent?
  • Are people even seeing my house?
  • What's wrong with my home, why don't people like it?
  • What can I do to get it sold?

The Five Reasons a Home will Sell or NOT Sell.....

Read more: Why is my House not Selling?

Text Messaging for Idaho Real Estate

Client Updates via TEXT Baby!

What a wonderful tool! 

Texting Idaho Real Estate Info

I can't believe how convenient texting can be when going through a transaction with savvy clients!  Thank you, Thank you, Thank you!

Read more: Text Messaging for Idaho Real Estate