Archive for September, 2007
I read an article by Robert J. Bruss and in it a person wrote about a property they bought for $35,000 17 years ago, now worth about $190,000. They have had the same tenant for all of the 17 years they owned it.
They want to gift the property to the tenant who is down on their luck and about Roberts advise on how they go about his at no additional expense to them.
Mr Bruss went through the logical process of using a Quit Claim Deed to do this and the fact that they needed to file a federal gift tax return since it is over the $12,000 annual gift tax exemption. He suggested that no tax would be due unless the filer has given away more than than the one million in life time non-exempt gifts.
Discussion: 6 Comments »|
To stave off the identity thieves, major credit cards companies have come out with a new super safe credit vehicle that will go a long way in protecting your identity from would be Internet thieves.
They are providing a virtual credit card number that is secured to your regular credit card account number that can be used one time for a single purchase and then disposable or may be assigned to one vendor or store that you buy regularly from. The is number is encrypted and can only be used as you direct it and is useless to the would be thievery of hackers and Internet snoops.
The benefit of course is to limit the amount of personal information you have out there in cyberspace. Currently Bank Of America, The Discover Bank and the Citi Group are offering the virtual credit card numbers but in time others will surely follow.
I haven’t seen a monthly credit card statement as yet using one of these virtual numbers but with the level of technology available, I am only surprised these have shown up sooner.
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DR Horton, One of the largest home builders in San Diego has become what is believed to be the first major builder here to use an AUCTION house to move the remaining unsold condominiums in 2 different condo subdivisions here in San Diego.
If they have success using this strategy to market the left over not yet sold units, other developers will likely be imitating Horton. But for now at least, D.R. Horton is the real innovator by creatively using this new untried method of sales here in San Diego.
If you are interested, bidding on the remaining 50 or so units will take place Sept 29th, @1:00 PM at the Doubletree Hotel in Mission Valley. DHI Mortgage, a subsidiary of D.R .Horton is the preferred project lender.
Discussion: 2 Comments »|
Are Streetcars making a resurgence in American Cities?
From the 1200 lines that existed in the US in the 1920s to just 5 lines remaining in the 1970s, have you ever wondered why they just disappeared?
There are probably lots of possible reasons but a significant answer may occur to you more easily if I mentioned the words, rubber, petroleum products and steel. Oh, did I forget to mention the automobile industry?
Before you jump to any conclusion and make the assumption that people would rather drive their own cars than to use one of these sometimes noisy and bell clanging alternatives, there is one more point to mention.
The new sleek designs from Europe may be the inspiration for new designs here in the US that will provide efficiency, luxury and convenience throughout the urban centers.
Discussion: 5 Comments »|
Once the closing date is set, the excitement really grows because you are only a step away from selling your home. It is important to understand the escrow process including looking at the estimated closing costs so that you can stay on top of everything.
The total closing costs involved in a transaction will vary depending on the type of loan the buyer wants, complexity of the transaction and any credits that might be generated during the closing process. These would include, Inspections, Zone Report, Title Insurance, Escrow costs, Brokerage Fees,etc.
When I process a listing, I prepare for you a Sellers Net Sheet to estimate the usual costs associated with selling your home. Once the offer is received, the Buyers may have included in their offer other costs that were not on that first estimate. So I will prepare a new Sellers net sheet specifying those additional costs of selling the home. Yet there may still be additional expenses that were not originally considered. Those may include repairs that have to be made or credits in lieu of repairs that you might consider and agree to.
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