In cooking, “mise en place” describes having all your ingredients measured, cut, peeled, sliced, grated, as well as bowls, utensils and pans ready to use before you begin cooking. The advantage is to inventory the ingredients and recognize if you have everything you need. You are less likely to leave out an ingredient or step […]
It’s Not to Late to Refinance
With mortgage rates below 4% since May 2019, you would think that most people would have already refinanced but according to a recent Lending Tree survey, 49% of homeowners say they are considering a mortgage refinance in the next year. The report estimated that over a third of homeowners are have mortgages above 4% and […]
Writing a Successful Offer in a Low Inventory Market
With at least 40% less homes on the market currently than there were a year ago, serious buyers have probably experienced the disappointment of losing a home they wanted to buy from increased competition. Today’s buyers are looking for ways to improve their odds of being the best contract without having to use the purchase […]
How long do I have to keep this stuff?
“How long do I have to keep this stuff?” is the usual question you ask yourself when feeling that you are running out of room for all this “paper” that may never be needed. The paper receipt you get from your fast-food lunch may go directly into the trash. The prudent consumer may keep it […]
Rent your home tax free
There is a little-known provision in the tax code that allows homeowners to rent their principal residence or second home for up to 14 days a year without having to recognize the income. In this situation, the taxpayer does not deduct the rental expenses associated with the income. There is no restriction on how much you […]
Before you pay cash for a home
Before you pay cash for a home, ask yourself if there is a possibility, at some point in the future, you might put a mortgage on the home and would want to deduct the mortgage interest on your federal tax return. Current federal tax law allows homeowners to deduct the interest on up to $750,000 […]
Can I Donate My Family Military Items and Artifacts to a Museum?
If you’re like me and you have a collection of family military items, relics and artifacts that range from the Civil War, WWI, World War 2, the Korean War, Vietnam and other United States military service campaigns throughout American history, you may be a little overwhelmed with the responsibility you feel in keeping your family […]
Homeowner Equity and Wealth Accumulation
National homeowner equity grew in the fourth quarter of 2020 by $1.5 Trillion or 16.2% year-over-year based on a CoreLogic analysis. The study was done on the six out of ten homeowners who have mortgages on their home. The fourth quarter of 2020 also saw the number of mortgaged residential homes with negative equity decrease […]
