Thursday, March 25, 2010

10 Best Places for a 2nd Home

According to the Wall Street Journal they ranked these top locations.

1. Maui, HI - No surprise here, The Valley Isle is a premiere destination and wonderful location for a second home with it's incredible sandy beaches. Shops and restaurants. Golfing and watersports.
2. Kiawah Island, SC - With a rich history dating back to the 1699 this real estate has it all. Golf, tennis, bike trails, hiking and 10 miles of pristine beaches.
3. The Hamptons - Summer destination for many New Yorkers as well as foreigners from Europe and South America. There are private clubs - day spas to pamper you and an endless array of golfing and tennis to keep you busy. The Real Estate is some of the highest in the nation.
4. Park City, UT - a few miles from downtown Salt Lake City, this mountain community has seen a lot of growth in the passed 20 years becoming a winter wonderland for skiers.
5. Aspen, CO - Popular destination for celebrities. An old mining town with a long history. Today teh city is internationally known for it's skiing and beautiful scenery.
6. Pebble Beach, CA - Home to the AT&T Pebble Beach National ProAm with 7 golf courses both public and private this oceanfront communtity is a golfers paradise.
7. Palm Beach, FL - Nick Named "The Island" this community boost two hotel resorts, Royal Poinciana Hotel and The Breakers Hotel.
8. Captiva - Sanibel Island, FL - Over 15 miles of white sandy beaches and home to the Ding Darling Wildlife Refugue boosting over 230 different types of birds, 250 different types of shells. Bring the family and enjoy many outdoor activities like biking, fishing, boating, snorkeling and don't forget the sunscreen.
9. Asheville, NC - This national treasure is located in the Blue Ridge Mountains and is surrounded by mountains. A popular place to live, work and raise a family. A wonderful place to experience the fall foliage when it pecks in October.
10. Casparilla Island, FL - Located in the southwestern part of Florida this small island is considered one the most beautiful barrier islands in the world. Home to Art Galleries, shops and fine restaurants Gasparilla Island is an awesome tropical distination.

Tell us about your favorite location for a 2nd home or tell us where your second home is located and tell us why you decide on that location.....

Tuesday, March 23, 2010

Did YOU Know You could file your Taxes FREE!

It's true, if you go through the irs website there are several companies including H & R Block that will allow you to complete your taxes FREE using their software. Some restrictions apply.
Click on Individuals at top left side, then click Free File Home- Your link to Free Federal Online Filing.
Then click - I will choose A Free File Company.
There are many companies to choose from just read the restrictions and pick the one best suited to your situation.
Good Luck and Happy Tax Season!

Wednesday, March 17, 2010

A Little Irish Tax Humor

While tax season is upon us and it's St. Paddy's Day this old Irish Proverb goes nicely with the day!

Tax his tractor, tax his mule; tell him, taxing is the rule.
Tax his oil, tax his gas, tax his notes, tax his cash
Tax him good and let him know, that after taxes, he has no dough.
If he hollers, tax him more; tax him till he's good and sore.
Tax his coffin, tax his grave, tax his sod in which he's laid.
Put these words upon his tomb, "Taxes drove him to his doom."
Once he's gone, we won't relax. We'll still collect inheritance tax.

Tell me what you have planned to celebrate St. Patrick's Day?
Happy St Paddy's Day!!!

Tuesday, March 16, 2010

Deadline for Home Buyer Tax Credit is FAST Approaching!

You have until 4/30/2010 to get your buyer under contact to receive the IRS tax credit for New and existing home buyers. You must close by 6/30/2010...
I am also a tax preparer and have noticed very few buyers this year getting this credit.... for the ones that are getting it the happy smiles and jumping up and down when they see their tax refund is priceless!
I also have been reading blogs that some Realtors are experiencing inflated housing prices that some are contributing to this tax credit. I personally haven't seen that in my area. I would hate to think sellers or their agents would increase pricing just because of this credit. The property still has to appraise in order to get a loan and close. I think the credit has really done some good. I just wish more were taking advantage of it.....

Monday, March 15, 2010

Loan Modification in 24 Hrs, YES it's true!

I went to help out a friend in need... put all his paperwork together for the company holding his mortgage.
IMPAC ... an investor using Bank of America as a servicer. IMPAC asked for the minimal information from my friend, most recent Bank Statements showing deposits, lease agreements for rentals, oh yeah this was on a rental and not his primary home. Hardship letter and a brief application of his personal info. We faxed it all to the provided number and I wished him luck and told him to call me and we'd go over their offer once they got back to him. Most lenders are so slow I told him it would probably be a while before he hear anything! BOY was I wrong, THE NEXT DAY he call me and had a contact in hand. They reduce the payment by $400.00 and lower his rate to 3.75% for a 5 year period. They gave him a 2 month reprieve from making a payment and his new payments would start May 1,.... I was stunned. If I didn't see it for myself I never would have believed it.
Why is it this company can do in 24 hrs what BoA, Wells Fargo, Chase and Citibank cannot get done in 120 days.... I don't understand why these lenders are taking so long to help people complete their modifications??????

Monday, March 8, 2010

Market UpDate

Monday's bond market has opened in negative territory, extending last week's generally negative tone. The stock markets are flat with both the Dow and Nasdaq nearly unchanged from Friday's close. The bond market is currently down 8/32, but we will still likely see a small improvement in rates due to strength in mortgage bonds late Friday.There is no relevant economic data scheduled for release today. This makes it likely that any changes to mortgage pricing will come from swings in stock prices. If the stock markets move higher from current levels, we may see bonds worsen and mortgage rates revise higher later today. If the major stock indexes move lower, mortgage rates may follow suit.
The rest of the week brings us the release of three economic reports along with the 10-year Treasury Note and 30-year Bond auctions. All of the data will be posted the latter part of the week. Only one of the three reports is considered to be of high importance to the markets, so today may not be the only day we look towards the stock markets for bond direction.