What can I do to find/get owner of vacant home to clean his property?

June 4th, 2010

The home next door has been vacant for a year. The owner has never stopped by to upkeep the property. Now the grass in very high, and someone tore down the fence in the backyard. There are people tracking into my backyard as a shortcut through the open fence. I want to sale my home, but this home would be an eyesore for potential buyers. Any suggestions?

Pitch a fit with the city, claim you are afraid of fires. They will clean it up.

If i purchase a rental property would i still qualify as a new home buyer?

June 1st, 2010

I am considering purchasing a rental property with a family member but i am worried i will not qualify for the new home buyer tax status.

No, investment property never does.

What are good home rental property websites?

May 30th, 2010


Web sites are a good place to find an apartment or house to rent, if you want to go through the entire list to find one in your state and then city.

The best place to look for places to rent is to go to the yellow pages of your telephone book, look under property managers.

These individuals list properties for rent in certain areas, so make sure you select the areas in which you wish to rent.

Call several of the property managers listed there, tell them you want a list of properties that they have for rent. Some will fax, email or mail the list of local places to rent along with the address, number of bedrooms and bath rooms, amenities available, such as washer and dryers or gyms, the monthly rental of the unit. Most will include a rental application. These list will include the monthly rental required, if a lease or month to month agreement will be signed. They will also indicate if they will accept Section 8 vouchers. They will also indicate it they have disabled access, allow pets and if so the type allowed.

They might indicate a web site that you might visit to get their list of places to rent. It does not cost to get a rental list from a reputable property manager.

Some will require you to stop by their office and pick up the list. A lot of them post their list outside so the list are available 24/7 360.

Make sure you don’t fall for the scams and purchase a list as 70%-80% of these list are composed of free list they have compiled. They are not the property managers of any property in most instances.

You might also google Property managers in whatever city or community you want to live in and see what comes up. Again do not pay for this information as it is free from reliable property managers.

I hope this has been of some benefit to you, good luck.

"FIGHT ON"

Is there a higher property tax rate for "secondary" homes in California?

May 27th, 2010

If I own two residential properties in California, will the property tax rate be the same for both homes or will the secondary home carry a higher tax rate?

You lose the homestead credit but that’s about it. That does not do much for you in CA — it’s only worth about $50 or so for the typical homeowner in an owner-occupied residence. Otherwise the property taxes are the same whether owner-occupied or rented out to tenants.

Do any of the property owners on Holmes on Homes tv show sue former contractors?

May 24th, 2010

On the HGTV show, Mike Homes redoes homes that have former contractors have done shabbily.

I would like to know that too?, because I saw one show about a handicap senior citizen who was practically robbed by what the contracters "didn’t " do in her home. her home had to be practically gutted. it was enough to make ME mad. I would have loved to see her sue and the outcome of that lawsuit. as part of a follow up to the show.

can they go after my new home if I short sale my rental property?

May 21st, 2010

if I short sale my rental property, can the lender go after my new home?

Not if they agreed to the short sale, which is unusual with investment property.

What would happen to the prices of homes if the property taxes and mortgage intrest payments were no longer de?

May 17th, 2010

What would happen to the prices of homes if the property taxes and mortgage intrest payments were no longer deductible on the federal income tax?

They are considering passing laws on this.
You must have been doing some reading.

I’ve always considered the tax deduction to be of no benefit. Yet some people love it.
Why give away $10,000 a year only to get 20% or $2,000 back – seems silly in a way.
Some people don’t see it this way.
They think "ooo tax deduction" and they buy the biggest house they can afford.

Maybe taking the tax deduction away would be a good idea.
I don’t think it will make any difference in the current buying market.
//

Does refinancing a house in California at a higher appraisal value trigger a higher property tax?

May 14th, 2010

I thought that under Proposition 13 the appraised value of your home for property tax purposes would not be revised upward while you own the house. I recently refinanced, and the appraised value for the re-fi is significantly higher than the appraised value when I first bought the house. Someone just told me that my property tax would now go up as a result of the higher re-fi appraisal. Is this accurate?

Refinancing in California will not increase the taxes.

Where in the US Master’s Tax Guide/IRC does it discuss deducting home mortgage interest and property taxes?

May 9th, 2010

Are there any max incomes that do not allow you to deduct these? I’ve searched the CCH database and have not had much luck.

Also, is it important to note Sec. 163(h)(3)(E) [Which talks about mortgage insurance premiums] to a client that makes over 250,000 a year?

Thanks for the help

Deductions may be limited if someone is subject to ATM (alternative minimum tax). I am no expert on high income, but you might look that up, and see the following.

Mortgage interest info http://www.irs.gov/publications/p936/ar02.html

Info about deductible taxes http://www.irs.gov/taxtopics/tc503.html

Tax info for homeowners http://www.irs.gov/publications/p530/index.html

can i search visitors or employee upon entery of my property?

May 6th, 2010

am i allowed to search visitor bags, pockets vechicles on my property upon entery or exit please explain including employees
at my home residences

It’s your home and it’s a private residence.

You are free to ask.

They are free to tell you to go screw yourself and walk away.