Many of today’s window coverings are more than pretty—the shades, shutters, blinds, and films currently on the market offer homeowners a variety of sunning and shading options that make a room look nice while giving your heating and cooling bills an extremely green makeover.
Parks Morgan, REALTOR® brings you the latest news as it affects the real estate market in the Miami/Fort Lauderdale metro area.
March 23, 2010
March 17, 2010
Fed to end MBS purchases - Expect mortgage rates to increase
Mortgage rates are expected to rise gradually as the Federal Reserve left a key short-term interest rate untouched Tuesday, but said it would wrap up $1.25 trillion in purchases of mortgage-backed securities this month.
In a statement, the Federal Open Market Committee said its target for the federal funds overnight rate will remain in the range of zero to 0.25 percent, as inflation is likely to remain "subdued for some time."
Although household spending is expanding at a moderate rate, the committee said it remains constrained by high unemployment, modest income growth, lower housing wealth and tight credit.
In a statement, the Federal Open Market Committee said its target for the federal funds overnight rate will remain in the range of zero to 0.25 percent, as inflation is likely to remain "subdued for some time."
Although household spending is expanding at a moderate rate, the committee said it remains constrained by high unemployment, modest income growth, lower housing wealth and tight credit.
March 16, 2010
Detect Termites and Other Wood-Destroying Insects
One of the biggest threats to your house comes in the form of tiny pests that silently and invisibly consume or live in wood—from the sills of your foundation to the rafters of your roof. Known by exterminators as WDIs, wood-destroying insects cause more than $1 billion a year in property damage in the United States, according to Orkin, a nationwide pest-control company.
“It’s not unheard of to see a home with termite damage in the tens of thousands of dollars,” says Greg Bauman, senior scientist with the National Pest Management Association. “I’ve personally seen a home with $1 million in repair costs. It probably would have been better to bulldoze the house.”
“It’s not unheard of to see a home with termite damage in the tens of thousands of dollars,” says Greg Bauman, senior scientist with the National Pest Management Association. “I’ve personally seen a home with $1 million in repair costs. It probably would have been better to bulldoze the house.”
March 08, 2010
Tax Tips for Homeowners Preparing 2009 Returns
You’ve heard it before: Your home is probably the biggest investment you’ll ever make. It’s also probably the biggest tax write-off you’ll ever have. Follow these tax tips for homeowners to ensure that you receive all of the tax deductions and tax credits to which you’re entitled for the 2009 tax year.
Home-related tax deductions, from mortgage interest to real estate taxes, can add up. If you’re married filing jointly with taxable income of $100,000, an extra $5,000 in deductions would lower your tax bill by $1,250. Tax credits, for such things as energy efficiency and homebuying, are even more valuable because they increase your refund (or decrease what you owe) dollar for dollar.
Give yourself a day to organize paperwork and fill out tax forms. Need help? IRS Publication 17, “Your Federal Income Tax,” has the answer to just about any question you can think of, and it’s free. Basic tax software starts at $29.95, and H&R Block charges $187, on average, to prepare a tax return. Full-service accountants charge more, depending on the complexity of a return.
Home-related tax deductions, from mortgage interest to real estate taxes, can add up. If you’re married filing jointly with taxable income of $100,000, an extra $5,000 in deductions would lower your tax bill by $1,250. Tax credits, for such things as energy efficiency and homebuying, are even more valuable because they increase your refund (or decrease what you owe) dollar for dollar.
Give yourself a day to organize paperwork and fill out tax forms. Need help? IRS Publication 17, “Your Federal Income Tax,” has the answer to just about any question you can think of, and it’s free. Basic tax software starts at $29.95, and H&R Block charges $187, on average, to prepare a tax return. Full-service accountants charge more, depending on the complexity of a return.
Tax deductions for non-itemizing homeowners
The last thing taxpayers want to hear is that the IRS has come out with yet another form. But
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