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Showing posts with label bank owned property. Show all posts
Showing posts with label bank owned property. Show all posts
Thursday, September 8, 2011
Wednesday, September 7, 2011
How Low can interest rates go?
Here is part of an article we copied about low interest rates:
Olick - how low can mortgage rates go?
"What's the bright side to a 200 point drop in the Dow? Yet
another rush to Treasuries that pushes the 10-year yield below
two%; that, in turn, means even lower mortgage rates, right?
Maybe not this time. Mortgage rates are already hovering near
historic lows, with the 30-year-fixed heading toward four%, but
unlike home prices, experts tell me mortgage rates do have a
bottom...a bank-imposed bottom. Why? 'Because they [banks] don't
have to go lower on the rates to get business and because they
make more money if they don't go to the lower market rate,' says
Guy Cecala of Inside Mortgage Finance. 'It's also a way to
manage a potential flood of refi calls.' Craig Strent over at
Apex Home Loans agrees: 'I think part of the reason they are not
going lower is because lenders are already inundated with refi
applications and cannot handle another tidal wave.' The
refinance share of mortgage applications was hovering around 80%
a few weeks ago, but fell to 78% last week, even despite low
interest rates. Those who can refi to their advantage, largely
already have. Far too many borrowers are too far underwater on
their mortgages to qualify for a refi. Still, seeing rates go
under that emotional 4% will push more borrowers to apply for
refi's. Unfortunately low interest rates have not spurred home
buying, and that's why the big banks are in no hurry to entice
with even lower rates. 'Lenders would much prefer home purchase
loans, which have a much lower fallout rate than refi's,' says
Cecala."
Want to find your perfect Colorado Mountain Retreat? Call us today while rates are low!
Olick - how low can mortgage rates go?
"What's the bright side to a 200 point drop in the Dow? Yet
another rush to Treasuries that pushes the 10-year yield below
two%; that, in turn, means even lower mortgage rates, right?
Maybe not this time. Mortgage rates are already hovering near
historic lows, with the 30-year-fixed heading toward four%, but
unlike home prices, experts tell me mortgage rates do have a
bottom...a bank-imposed bottom. Why? 'Because they [banks] don't
have to go lower on the rates to get business and because they
make more money if they don't go to the lower market rate,' says
Guy Cecala of Inside Mortgage Finance. 'It's also a way to
manage a potential flood of refi calls.' Craig Strent over at
Apex Home Loans agrees: 'I think part of the reason they are not
going lower is because lenders are already inundated with refi
applications and cannot handle another tidal wave.' The
refinance share of mortgage applications was hovering around 80%
a few weeks ago, but fell to 78% last week, even despite low
interest rates. Those who can refi to their advantage, largely
already have. Far too many borrowers are too far underwater on
their mortgages to qualify for a refi. Still, seeing rates go
under that emotional 4% will push more borrowers to apply for
refi's. Unfortunately low interest rates have not spurred home
buying, and that's why the big banks are in no hurry to entice
with even lower rates. 'Lenders would much prefer home purchase
loans, which have a much lower fallout rate than refi's,' says
Cecala."
Want to find your perfect Colorado Mountain Retreat? Call us today while rates are low!
Wednesday, August 3, 2011
Some Tax Facts
Thanks to my friend Larry Stone for this informative article. One thing he didn't mention is that the top 5% of earners pay 69% of all tax monies paid to the federal government. Real Estate Investment is a great way to utlize the tax code in your favor for wealth creation!
Hi!-
Years ago, comedian Steve Martin gave us an easy formula for making a million dollars without paying tax. "First . . . ya get a million dollars." Then, when the tax man comes to your door and says you never paid taxes, just tell him "I forgot!" That's a great plan, assuming you can get your hands on the million bucks and you're willing to take your chances with the tax man. But what about those of us who don't have a million dollars and those of us who remember we have to pay taxes? Are there better ways for getting that tax bill down to zero?
The Washington-based Tax Policy Center estimates that a full 46% of Americans pay no federal income tax. And those non-payers represent a surprisingly broad cross section of Americans. Over 10% of them report incomes over $50,000. And in 2008, there were 18,783 who earned over $200,000 and owed no federal income tax. So, how do they do it?
About half of the non-payers just don't make enough money to owe any tax. They rely on the standard deduction and personal exemptions to avoid any tax on their income. But the Tax Policy Center identified 38 million Americans who rely on one or more tax expenditures to pull their tax down to zero. ("Tax expenditure" is Washington-speak for tax provisions like deductions and credits that reduce tax revenue.)
- Seniors: 44% of non-payers benefit from the extra standard deduction for those over age 65, the elderly tax credit, and the exclusion of Social Security from taxable income. (The TPC study calls these "elderly tax benefits" - our own unscientific survey shows that half of all seniors don't mind being called "elderly" if it means paying less tax!)
- Families: 30.4% of non-payers benefit from the child tax credit, the dependent care credit, and the earned income tax credit. (It's worth noting that if the Bush tax cuts actually expire on schedule after 2012, the child tax credit will disappear - throwing millions back into the "taxpayer" category.)
- Beneficiaries: 6.0% draw income from tax-free benefit programs, including Supplemental Security Income and Temporary Assistance for Needy Families.
- Students: 5.6% benefit from education credits to eliminate their tax.
- Adjustments: Another 5.1% of non-payers benefit from "above the line" deductions like self-employed health insurance and student loan interest and from tax-exempt interest income.
- Itemizers: 5.0% benefit from itemized deductions like mortgage interest, state and local taxes, and charitable gifts. (The Obama administration has proposed limiting the value of itemized deductions for higher-income earners to just 28%; however, in today's anti-tax climate, the President is about as likely to appear on Jersey Shore as he is to raise taxes.)
- Credits: 2.5% benefit from other credits, including the Savers Credit for retirement savings and the general business credit.
- Investors: Finally, 1.3% benefit from the special 0% rate for certain capital gains and qualified corporate dividends.
If you're like most clients, you see something on that list that saves you taxes, even if it's not enough to pull your taxes all the way down to zero. It's our job to help you take advantage of all of those strategies and more. If you know someone who's not happy with the taxes they pay, pass along this email, and we'll see how we can help!
Please visit our new web page at www.coloradotaxcoach.com
Saturday, July 23, 2011
REO and Foreclosure Properties in Summit County
Colorado Mountain Retreats Realty is proud to announce that we have a new partnership with a major nationwide bank to receive property information on REO and Bank Owned Properties weeks before they are listed in the MLS. Looking for a Bank Owned Property in Keystone, Breckenridge, Copper Mountain, Frisco, Dillon, Silverthorne or Blue River? We will have lists updated weekly of properties soon to be listed. You will be able to get this information before everyone else does! www.ColoradoMountainRetreats.com
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