Home Property

Does my home property tax go up?

admin — Wed, 16 May 2012 18:13:34 +0000

I have a big den, I was thinking of building a wall to add a 4th bedroom…I currently have a 3 bedroom home and I was told with a 4th bedroom my home value will go up…I would like to know If the home value goes up, will my property taxes go up as well? I live in NC and my property taxes right now is less than $1500 I want to make sure that I make the right decision. Please help.

Yes your property taxes will rise with the increase in value

Home property values?

admin — Wed, 09 May 2012 01:20:52 +0000

Is there any website or government agency that keeps track of home prices? I want to see if home prices in my los angeles, california neighborhood are increasing or decreasing. Is there any agency that keeps track of prices and publishes trends, graphs etc?

Also- real estate is not a uniform thing and you can not actually tell exactly what the values are doing (although you can get a good idea). In a certain time small houses may sell more and big sell less- so the average sale price would be lower but not really mean that values have gone down. New homes may sell more this month and existing, older homes may have sold more the same month last year and so the average price per sq ft would be higher without meaning that values have gone up. Foreclosures may sell at low values and not be as available a year from now- so the average price would go up- but the real values may have not gone up.

I am trying to say that tracking market values is not an easy statistical thing. However if you have an agent send you the historic sales in your neighborhood for the last three years you could look them over and adjust for all these things and get a very good idea of what is happening. You should at the same time ask for the active listings in your neighborhood- showing how long they have been on the market and what condition they are.

how do I get an internet connection set up in a vacation home?

admin — Sat, 25 Feb 2012 19:54:04 +0000

we have a property in the mountains, we visit maybe every 2 or 3 months. In the Winter it would be nice to be able to turn the heat on from our home, which is about 3 hours away, so it’s warm when we get there.

I realize we need an internet connection, I just would like to avoid having to pay a monthly fee for something we would use every 2 or 3 months. Is there any other way?

Thx

I don’t think you can pause a service with an internet provider. I know that some internet providers do not require a contract, however. You might begin by talking to those providers that don’t require a contract to see if you can work something out. There are also "bargain" plans available that have slower download speeds, but how much speed will you require when you are vacationing? Verizon is rolling out a home security system tied in with internet. I don’t know too much about it, but you might want to learn if this system can handle your goal of getting the heat turned on.

Check out a good comparison website that can direct you to various providers available in your area. You can check which states they cover, and then find out if your specific address is covered. Hope that helps!

Cabin/home rentals in South Lake Tahoe, NV?

admin — Fri, 17 Feb 2012 10:24:38 +0000

Can you recommend property/rental management agencies for weekend cabin/home rentals in South Lake Tahoe, NV?

Thanks!

VRBO.com (Vacation Rentals By Owner) always has GREAT deals on private home rentals in Tahoe.

Also try the Reno/Tahoe craigslist under vacation rentals.

How do I find out property value for tax?

admin — Sun, 12 Feb 2012 13:25:23 +0000

I found out on homes.com that my home is valued at around 60k but apparently that isn’t the same value that the tax assessor uses to determine my property tax.

How do I find the value of my home that is used to assess my tax?

Go to your local tax assessor’s office.

permission to search home issue/ search warrant?

admin — Sun, 05 Feb 2012 08:24:11 +0000

police came to my parents home when i was being held on suspicion on receiving stolen property.. my parents not knowing what to do granted the search.. the police took 5 laptops.. is their any way i may get those back .. they have nothing to do with the charges they have against me, just a possible connection to the case overall because they linked 1 laptop to me that was stolen, but i buy and refurbish laptops .. i own a website its all legit.. and want my purchased items back.. is that possible???

The ones that aren’t stolen should be returned once the case closes

If the police search a home and break stuff, do they have to pay to have it fixed?

admin — Tue, 31 Jan 2012 06:12:29 +0000

If the police search a home and it is later determined that they did not have probable cause and the case gets thrown out, do they have to pay for the items/property that they broke during the initial search?

of course but if not and its your foult in the first place then no

What do I need to change my investment property to Owner occupied home?

admin — Tue, 24 Jan 2012 03:12:38 +0000

I have an owner occupied home (high priced appx. 400k) and investment property (low priced appx. 170k). I stayed in my current home for 5 years and the loan is 30 year fixed at 4% now. My stay in the present home is mainly for school district and all my kids completed schooling(Jun 2011) and ready to go out putting this property into rental.There is an appreciation 5% so far in years. Hence, I may not be interested in tax free capital gain, but prefer to rent and take advantage of depreciation and rental income for my retirement coming soon in 5 years.

If move to my rental property and it becomes owner occupied. I am going to move in physically and live in further as I do not need good school district. When can I eligible to state – for loan purpose – that I am owner occupied? When can I get it refinance for 30 year fixed and what is the proof that I need to furnish bank or lender. This property was in rental on my tax statement for the past 3 years.

Thank you all in advance.
Jovovich, Just wanted to inform you. I do not pretend for the sake of refinancing.I am 55 years old and very likely to plan for retirement at 65. Having that age, my pay may come down soon when I reach 60. I really think that I landed up in such situation with my limited knowledge of real estate.

When I purchased the home, it was a foreclosed property 25 miles away from current home, with same lot size and 200 sqft less home area and the idea is to move it after my second kid moves to college so that my current home will provide rental – for ever – after retirement.

I know lender will not trust me immediately. If I stayed in the home for 6 months, 1 year or 2 year, they will see the fact.

This is a complex issue involving both tax and financing issues. Long story short, if you have been taking depreciation and other deductions for your rental home and now want to make it your regular home, you will have to convert it from income property to personal property. You will also need to understand your adjusted cost basis of both properties because eventually you will want to sell one or both, and the cost basis will have a huge impact on potentially paying taxes on the eventual sale of your home.

You should talk to your tax adviser before doing this – there are lots of things at play here. You may want to set up a limited liability partnership and sell your $400k rental property to this partnership to both limit any liability from having renters in a property you own as well as pass through income to yourself.

As far as financing goes, you could simply take a loan against your $170k home (a regular or refinanced mortgage or a home equity line of credit) while you are still living in your current house as long as you plan to live in the $170k home. It’s no different than someone renting to take a mortgage out in anticipation of buying a home and moving.

proper Standard prosegers in collecting of Evidence of stolen property?

admin — Tue, 17 Jan 2012 01:41:36 +0000

I had police come in my home and say I had stolden property in my home but in collecting it they allowed two none officers in my home when searching my home then allowed then to remove ideas and take with them home they got in to my home because I was on mesdemener propation and My po came but after getting the police in he then left there for it was a po search don’t they have to be preasent for serach ?

You obviously have a criminal history and you need to change your ways. Stop Stealing stuff, get a real job and be productive in society. Nobody cares who removed the stuff that was in your house.

When can I apply for a new home loan after completing a short sale on my property?

admin — Thu, 12 Jan 2012 04:12:58 +0000

Because of significantly reduced income as a result of unemployment, we’re closing on our house as a short sale on Dec 15 after 4 months of missed payments. Fortunately, we have a loving family that we will be living with until we stabilize. My credit score is now 709, 703, and 660. Should I expect it to drop much further? What is the wait time on approval for a conventional home loan after a short sale?

Your credit scores are already lower then that with the missed payments.

They shoudl drop another 200 points.