Home Property

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

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.

Posted in home property appraisal | 3 Comments »

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

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

Posted in home property search | 2 Comments »

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

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.

Posted in home property search | 4 Comments »

What is involved in adding a mobile home to my property in Cali?

I see a fixer for sale and I’ve got a great place in the dirt to stick it. I live in Rio Linda, california.

Can I just throw it on and hook up new utility lines, call utils and tell them that I have a new unit for them to bill?

THe short and simple answer is NOPE.

For starters, most utility companies will not provide residential service without an address or building permit for the site..

My advice is, before you get all fired up about this, go down to your City’s Planning Department with and ask them what process MIGHT be required IF you wanted to do this.

They will give you a good idea of things such as

1) Current Zoning and restrictions.
2) Sewer requirements (you may need to install a sewer lateral to a local main if septic tanks are not allowed.
3) Minimum space requirements
4) Undergrounding requirements (no aerial lines)
5) Permit requirements

other residential requirements such as off-street parking requirements, lighting, etc…

Its often not as simple a process as it seems

Posted in home property sales | 2 Comments »

We have sold our property/home "for sale by owner" on a balloon contract….?

We have sold our property ourselves on a short balloon contract, now we don’t know what to do with the contract once it’s signed. Who do we file it with? Registrar of deeds? we wont be turning over the deed until it balloons in October so how will they get insurance? HELP!

u did not state where you were; that often cripples the person answering you.

i do suggest you file it with the R of D; in the US, we have County Recorders and all
documents that we want to have enforced by the court, we file there.

Any person can get insurance on anything as soon as they show they have
an "equitable interest." YOUR contract with the buyer will prove they have that already.

available to guide further

Posted in home property sales | 3 Comments »

How should I recruit people to list their property on my website?

I am getting ready to go "live" with a new web site that allows people to sell their property "for sale by owner". I would like to get people to list their property on my web site for free just to build up the number of properties listed. Should I send letters to people who have their homes for sale or some other way? Looking for feedback!
So I am guessing it’s probably a bad idea to contact people who are selling their homes with a realtor? I thought maybe sending a letter to those folks to let them know there are other options available.

Put an add in the paper. Maybe try to offer something that other sites don’t… This one is a long shot but you could call people who are listing their home FSBO in the paper and call them and offer your services. Plus, it would help if you spend some money advertising your website so the owner knows that it’s to their advantage to use your services.

Posted in home property sales | 3 Comments »

Modular/Mobile home purchase claimed as home property tax?

I am in the workings of purchasing a modular home in California, and the space it will sit on it is not owned by me of course. Can this be used as a property tax write off on my next Tax filings?

Any ad valorem property taxes (as well as mortgage interest) on a primary or second home are deductible. A home does not have to be attached to the land to quailify. In fact, it doesn’t even need to be a home in the traditional sense. An RV or boat can qualify if it has cooking, sleeping, and sanitary facilities.

Posted in homes property | 2 Comments »

How often do people who remodel their homes end up selling them and their property?

My parent’s are remodeling the downstairs/basement of their house right . They already did the upper story. They not yet done. They are talking of selling the remodeled house next year. How often do people who remodel their homes end selling them afterwards when they go though all of that work remodeling their present home?

Does anyone know how often this happens and why do people do it for? Is it because they are tired of the newly remodeled house or something else all together?

~*~It is because after a remodel you have the best chance of getting the maximum amount of money for your house. A remodeled house is in the best shape and the most desirable to perspective buyers.

Posted in homes property | 1 Comment »

"In Florida, can U transfer ’save our homes’ property tax break when buying new house if not selling old one?

I bought my house in 2002, now I’m moving to another house (also in Florida but a different county). I have the ’save our homes’ tax break on the first house. Can I transfer it to the second house even though I am not selling the first house? (I am planning to use the first house as a rental property). What is the best thing to do in this situation to minimize taxes?

No you need to sell the first place to transfer the tax break

Posted in homes property | 1 Comment »

Courthouse Auction – Real Estate Wholesale – Champaign Homes

Schwaps (http://www.schwaps.com) founder, Justin McClelland (http://www.justinmcclelland.com), chronicles his company in its beginning phase. In this video he traveled to a Real Estate auction held in Champaign, IL. The primary purpose was to get familiar with the process and to obtain wholesale property buyers for the cities of Champaign-Urbana.

Duration : 0:2:45

Read the rest of this entry »

Posted in home property appraisal | No Comments »