Real Estate Company Granby CT – 5 best markets to sell a home – Real Estate Brokerage Granby CT

5 best markets to sell a home 5 best markets to sell a home In these metro areas, housing prices are rising, and homes with a ‘for sale’ sign are getting snatched up in no time, according to Oakland, Calif. 1 of 5 Median listing price: $419,000 Average days on market: 14 When homes are put up for sale in Oakland, they don’t last long. In February, houses were on the market for an average of just two weeks before they were sold, according to As a result, they often attract multiple offers and sell for more than the asking price, according to Leslie Appleton-Young, chief economist for the California Association of Realtors. Related: 10 great foreclosure deals The housing supply is tight, thanks to real estate investors who make up about 20% of Oakland’s market. These days, most investors keep the homes and rent them out, rather than fixing them up and trying to resell like they used to. “Investors don’t flip anymore,” Appleton-Young said. Despite the competition for homes, prices are still down more than a third from their mid-2006 peak.   NEXT: Sacramento, Calif. Source: bases its rankings on median listings prices, supplies of homes for sale, and days to sell new listing. Housing markets include the entire metro areas. By Les Christie @CNNMoney – Last updated March 14 2013 06:22 AM ET

Real Estate Brokerage Granby CT – 5 best markets to buy a home – Real Estate Company Granby CT

5 best markets to buy a home Looking to buy a home? In these cities, prices are attractive, there are plenty of homes to choose from — and buyers have the upper hand, according to Southern South Carolina 1 of 5 Median listing price: $269,900 Days on market: 156 This large metro area in southern South Carolina includes old towns like Beaufort, as well as more modern developments like the resort communities on Hilton Head Island. “[The area] has history and charm without the hassles of bigger cities,” said Edward Dukes, a broker with Low Country Real Estate. Related: 5 best markets to sell a home The region was also the best buyers’ market in the nation in February, according to Home prices dropped 5% from the year before, hitting a median price of $269,900. Homes stay on the market for an average of 156 days, giving buyers plenty of time to shop around and bargain with sellers. But the great deals may not last long. “More deals are closing, there are more multiple bids, and fewer homes on the market,” said Dukes.   NEXT: Reading, Pa. 5 best markets to buy a home  

Farmington Valley Realtor – 2 Million Homeowners Freed From Negative Equity in 2012; 1 Million More to Come in 2013 – Farmington Valley Real Estate

2 Million Homeowners Freed From Negative Equity in 2012; 1 Million More to Come in 2013 Date:February 20, 2013|Category:Market Trends|Author:Cory Hopkins Almost 2 million American homeowners were freed from negative equity in 2012, and the overall percentage of all homeowners with a mortgage in negative equity fell to 27.5 percent at the end of the fourth quarter, according to Zillow’s fourth quarter Negative Equity Report. The falling negative equity rate is good news for struggling homeowners and is largely attributable to a 5.9 percent bump in home values nationwide last year to a median Zillow Home Value Index of $157,400 (when home values rise, negative equity falls). At the end of 2011, 31.1 percent of homeowners with a mortgage were underwater, or more than 15.7 million people. In the fourth quarter, Zillow determined where American homeowners freed from negative equity in 2012 were located. Among the nation’s 30 largest metro areas, those with the highest number of homeowners freed from negative equity last year were Phoenix (135,099 homeowners freed in 2012); Los Angeles (72,936 homeowners freed in 2012); Miami-Fort Lauderdale (70,484 homeowners freed in 2012); Dallas-Fort Worth (59,461 homeowners freed in 2012); and Riverside, CA (58,417 homeowners freed in 2012). Still, despite more than 1.9 million homeowners nationwide finding their way back above water last year, 13.8 million American homeowners are still struggling with negative equity. Many remain so far underwater that even the very high rates of appreciation experienced in many markets still can only bring them so far. In the Phoenix metro, for example, despite more than 135,000 freed homeowners last year, more than 300,000 homeowners — or 40.4 percent of homeowners with a mortgage — remain trapped in negative equity. This is largely attributable to the fact that although home values in Phoenix rose 22.5 percent last year, they remain more than 44 percent below their peak. So for those who bought at the peak, even with rapid appreciation, they still have a long way to go. The graph below shows the loan-to-value (LTV) distribution for homeowners with a mortgage nationwide in 2012 Q4 vs. 2011 Q4. You can see that even though many homeowners are still underwater and haven’t crossed the bold 100 percent LTV line into positive equity, they are moving in the right direction. The 2012 Q4 buckets on the 100 percent+ LTV side (the red bars) are getting smaller compared to 2011 Q4, and the black bars are getting larger. U.S. homeowners with a mortgage are slowly gaining equity back in their homes. We also wanted to know how many more homeowners would be freed in 2013 and where they would be located. New this quarter, the Zillow Negative Equity Forecast predicts the negative equity rate among all homeowners with a mortgage will fall to at least 25.5 percent by the fourth quarter of 2013, freeing more than 999,000 additional homeowners nationwide. Of the 30 largest metro areas, the majority of these newly freed homeowners are anticipated to come from Los Angeles (72,696 homeowners freed in 2013); Riverside (62,407 homeowners freed in 2013); Phoenix (43,044 homeowners freed in 2013); Sacramento (33,356 homeowners freed in 2013); and Dallas-Fort Worth (31,434 homeowners freed in 2013). Zillow forecasts negative equity by applying anticipated appreciation or depreciation rates to a home, according to the most current metro and national Zillow Home Value Forecasts, and by assuming all other factors remain constant. “As home values continue to rise and more homeowners are pulled out of negative equity in 2013, the positive effects on the housing market will be numerous. Freed from negative equity, homeowners will have more flexibility, and some will likely choose to list their home for sale, helping to ease inventory constraints and moderating sometimes dramatic, demand-driven price increases in some markets,” said Zillow Chief Economist Dr. Stan Humphries. “But negative equity is still very high, and millions of homeowners have a very long way to go to get back above water, even with current robust levels of home value appreciation in most areas. As a result, negative equity will remain a major factor in the market for the foreseeable future.” Also, new this quarter, users can zoom in on a portion of our Negative Equity visual and embed only that portion on their website. So, for example, if you were in Seattle and wanted to post the interactive tool to your site, we would be happy to show you how. Tags: Zillow Negative Equity Forecast, Zillow Negative Equity Report

East Granby real estate – Tax Benefits of Rental Property – East Granby realtor

Tax Benefits of Rental Property Tax Deductions for Owner-Occupied Rental Property How to Calculate Rental Property Appreciation for Income Tax Purposes Tax Deductions for Condo Fees on Rental Property Tax Implications of Owning a Residential Rental Property The Definition of Gross Receipts for a Rental Property 65 and Over Property Tax Benefits in North Carolina Owning rental property brings you a number of benefits. Many properties offer an attractive mix of equity growth and cash flow, but the tax shelter is probably the most appealing benefit. Since rental properties straddle the line between investments and businesses, you typically get liberal write-offs and tax advantages, including tax deferrals for exchanging rental properties. Tax-Sheltered Growth Most real estate investors hope their properties will gain value every year. Some of the growth comes from monthly payments on your mortgage, which increases your equity ownership in the property. Additional growth comes from your property increasing in value due to a healthy market or, in the case of rental properties, due to growing net operating income. Since the Internal Revenue Service does not recognize capital gain until you sell the property, your money continues to grow as long as it stays in the property. Sponsored Link 12% Yield Stocks to Buy These stocks yield 12%, yet most US investors don’t know they exist. Tax-Sheltered Cash Flow The IRS only requires you to pay tax on the profit that you earn from your rental properties. To calculate your profit, add up all your rental and other income and subtract all your expenses. Your rental property expenses include obvious things like mortgage interest, repairs, property taxes and management fees. It can include expenses related to travel. For instance, if you own a beach house in Hawaii and spend a week there to work on it, the entire trip would be tax deductible. Depreciation of your property allows you to write off a portion of the property’s purchase price every year as a way of acknowledging that it gradually wears out. You don’t spend anything to get the depreciation deduction; it just helps to cancel out other income, reducing your tax liability. Passive Activity Loss Deductions With all the expenses you can claim on your investment property, it’s not that hard to end up with a taxable loss. In most cases, you can’t use losses from passive activities, like investing, to offset active income that you earn from your job. However, the IRS will allow you to claim up to $25,000 in passive activity losses from rental real estate against your regular income. To qualify for the tax benefit, your modified adjusted gross income must be below $100,000 — or below $50,000 if you are married and file separately. For income over the modified adjusted gross income threshold, your ability to claim a passive activity loss falls $1 for every $2 of income. Tax-Free Exchanges If you sell your rental property and use the proceeds to buy more investment property, even if it is of a different type or located in a different state, you can structure the sale as a tax-deferred exchange. By following the IRS’ rules, you can carry your cost basis from your old property forward into your new property. Since the IRS doesn’t look at this type of transaction as a sale, you won’t have to pay any capital gains taxes or depreciation recapture taxes on the exchange. Contact Santa Realty a Real Estate Company in Granby, CT