Title /blog/posts/2012/?format=rss A blog feed. en-US Sun, 23 Dec 2012 13:12:00 -0500 What to expect in 2013! Housing Market Update https://www.wandamooney.com/blog/posts/2012/12/23/what-to-expect-in-2013-housing-market-update/ <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> <span style="color: #333333;font-size: 11.0pt">I came across a very good article in regards to the 2013 housing market that I think is very accurate and offers good tips for both buyers and sellers.&nbsp; &nbsp;&nbsp;I added some of my thoughts into the article pertaining to our local market area.</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> <span style="color: #333333;font-size: 11.0pt">Overall the housing market has stabilized and there is no reason to be fearful of further large declines in property values.&nbsp;&nbsp; &nbsp;There should be an increase of buyers looking, trying to take advantage of the continued low interest rates and low house values.&nbsp;&nbsp; This does not mean that sellers can get all excited and think they can get a lot more for their houses.&nbsp; There will be several of you that still will have a difficult time breaking even.&nbsp; It will take a few more years before we will see the values increase to levels of 2005-2007.</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> <span style="color: #333333;font-size: 11.0pt">Pricing property is still very important.&nbsp;&nbsp;&nbsp; The majority of people buying are getting mortgages and the appraiser that is hired by the bank will have the final say as to the value of the home.&nbsp; &nbsp;</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> <span style="color: #333333;font-size: 11.0pt">If you want to buy, you have to be ready to make an offer.&nbsp; If it's a new listing a low offer will not be beneficial to you.&nbsp; However, if a home has been on the market for a while you might be in a better position to negotiate.&nbsp; &nbsp;It all depends on the property and the seller's motivation.&nbsp;&nbsp; Your buyer's agent will research the situation and guide you along as to the best way to proceed.</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> <b><span style="color: #333333;font-size: 11.0pt">Here are a few things to watch in 2013 that could change the housing market:</span></b></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> <b><span style="color: #333333;font-size: 11.0pt">Fed chairman Ben Bernanke</span></b> <span style= "color: #333333;font-size: 11.0pt">is lifting housing by buying bonds to keep mortgage rates low. How much longer can he keep that going?</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div style= "background-color: white;line-height: 19.5pt;margin: 0in 0in 0.0001pt;vertical-align: baseline"> <strong><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in"> The loss of mortgage deductions.</span></strong><span class= "apple-converted-space"><b><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in">&nbsp;</span></b></span><span style="color: #333333;font-size: 11.0pt">Should the tax break on mortgage interest get cut, &nbsp;it would throw cold water on the real estate recovery.</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div style= "background-color: white;line-height: 19.5pt;margin: 0in 0in 0.0001pt;vertical-align: baseline"> <strong><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in"> Sellers sit on the fence.</span></strong><span class= "apple-converted-space"><b><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in">&nbsp;</span></b></span><span style="color: #333333;font-size: 11.0pt">Homeowners could remain on the sidelines as the ranks of buyers grow. In that case, the inventory of homes would shrink even more, lifting prices faster than expected.</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div style= "background-color: white;line-height: 19.5pt;margin: 0in 0in 0.0001pt;vertical-align: baseline"> <strong><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in"> Homeowners get bullish.</span></strong><span class= "apple-converted-space"><b><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in">&nbsp;</span></b></span><span style="color: #333333;font-size: 11.0pt">A spate of home construction is already taking place in several major markets. In those regions, the housing stock is likely to stabilize, keeping price gains modest.</span></div> <div style= "background-color: white;line-height: 19.5pt;margin: 0in 0in 0.0001pt;vertical-align: baseline"> <strong><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in"> Banks loosen their grip.</span></strong><span class= "apple-converted-space"><b><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in">&nbsp;</span></b></span><span style="color: #333333;font-size: 11.0pt">If tight lending standards return to historical norms, realtors argue, the market could see an additional 500,000 to 700,000 home sales next year.</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div style= "background-color: white;line-height: 19.5pt;margin: 0in 0in 0.0001pt;vertical-align: baseline"> <strong><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in"> Employer confidence rises.</span></strong><span class= "apple-converted-space"><b><span style= "border: none windowtext 1.0pt;color: #333333;font-size: 11.0pt;padding: 0in">&nbsp;</span></b></span><span style="color: #333333;font-size: 11.0pt">Since jobs are the engine of the housing market, a pickup in hiring later in the year, which economists are predicting, could accelerate a real estate rebound in the second half of 2013.</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> </div> <div class="MsoNormal" style= "line-height: 13.5pt;margin-bottom: .0001pt;margin-bottom: 0in;vertical-align: baseline"> <span style="font-family: Arial, sans-serif;font-size: 8pt">This information is taken from the article - Real estate: Find opportunity next year</span></div> <div style= "background: white;line-height: 19.5pt;margin-bottom: .0001pt;margin: 0in;vertical-align: baseline"> <span style= 'color: #666666;font-family: "Arial","sans-serif";font-size: 8.0pt'> By Carla Fried, CNN Money</span></div> Uncategorized Sun, 23 Dec 2012 13:12:00 -0500 Mass Home Prices - biggest jump since June, 2010 https://www.wandamooney.com/blog/posts/2012/11/28/mass-home-prices-biggest-jump-since-june-2010/ <div class="separator" style="clear: both;text-align: center"> <a href= "https://s3.amazonaws.com/files.usmre.com/5577/October-2012-SF-chart.jpg" style= "clear: left;float: left;margin-bottom: 1em;margin-right: 1em"><img border="0" height="108" src= "https://s3.amazonaws.com/files.usmre.com/5577/blog/misc/October-2012-SF-chart.jpg" width="400" /></a></div> <p><span style= "background-color: white;font-family: 'TradeGothic Bold', serif">The Massachusetts Association of REALTORS released the October 2012 sales report. Single-family median prices had the biggest monthly year-over-year jump since the final month to take advantage of the home buyer tax credit in June 2010. In addition, sales were up for the 16th&nbsp; straight month compared to the same time last year. Condo median prices and sales both went up compared to October 2011.</span></p> <div style= "background: white;margin-bottom: 12.75pt;margin-left: 0in;margin-right: 0in;margin-top: 12.75pt"> <span style= "font-family: 'TradeGothic Bold', serif">&nbsp;</span><a href= "https://s3.amazonaws.com/files.usmre.com/5577/October-2012-CC-chart.jpg" style= "background-color: transparent;clear: left;margin-bottom: 1em;margin-right: 1em;text-align: center"><img border="0" height="108" src= "https://s3.amazonaws.com/files.usmre.com/5577/blog/misc/October-2012-CC-chart.jpg" width="400" /></a></div> <div style= "background: white;margin-bottom: 12.75pt;margin-left: 0in;margin-right: 0in;margin-top: 12.75pt"> </div> <div style="margin: 0in 0in 0.0001pt"><strong><span style= "font-family: 'TradeGothic Bold', serif">Highlights from the release:</span></strong></div> <div style="margin: 0in 0in 0.0001pt"><span style= "font-family: 'TradeGothic Bold', serif">* Single-family home sales were up 22.1% compared to last year<br /> * Single-family median prices were UP 4.4% ($287,000)<br /> * Condo sales were up 34.8% compared to the same time last year<br /> * The median price for a condo was UP 2.0% ($265,000) compared to last year</span></div> Uncategorized Wed, 28 Nov 2012 02:33:00 -0500 Perfect Mini Farm - Now Reduced to $179,000 in Colrain, Mass https://www.wandamooney.com/blog/posts/2012/11/27/perfect-mini-farm-now-reduced-to-179-000-in-colrain-mass/ <p>This wonderful property is perfect if you are thinking of having a few animals or love to garden. It comes with a well maintained Ranch, 2 Barns, and Garage. The 4 acres is mostly open and has river frontage. Easy to show and ready for you to move in and enjoy! For more information and photos <a href= "http://www.visualtour.com/show.asp?t=2863535&prt=10003" target= "_blank">click here</a> to check out the visual tour. &nbsp;</p> <div class="separator" style="clear: both;text-align: center"> <a href= "https://s3.amazonaws.com/files.usmre.com/5577/blogger-image--473552990.jpg" style="margin-left: 1em;margin-right: 1em"><img border="0" height= "247" src= "https://s3.amazonaws.com/files.usmre.com/5577/blog/misc/blogger-image--473552990.jpg" width="320" /></a></div> Uncategorized Tue, 27 Nov 2012 00:28:00 -0500 What will a home be like in 2100? https://www.wandamooney.com/blog/posts/2012/11/25/what-will-a-home-be-like-in-2100/ <div class="MsoNormal"></div> <div class="separator" style="clear: both;text-align: center"> <a href="https://s3.amazonaws.com/files.usmre.com/5577/blog/misc/images.jpeg" style= "clear: left;float: left;margin-bottom: 1em;margin-right: 1em"><img border="0" src= "https://s3.amazonaws.com/files.usmre.com/5577/blog/misc/images.jpeg" /></a></div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in"></div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in">I came across an interesting article about what homes will be like in 2100.&nbsp;&nbsp;&nbsp; For those of us that can remember, it seems like yesterday we were using a rotary phone.&nbsp;&nbsp; Here we are 30+ years later and now have smart phones, IPADs&nbsp; and the list goes on.&nbsp;&nbsp;</div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in">Ever wonder what is next?&nbsp; Here are some predictions that I found worth posting.</div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in"></div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in"></div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in;margin-left: .25in;margin-right: 0in;margin-top: 0in"> <b>The walls of one's home will be intelligent, and capable of simulating a shopping experience in three dimensions.</b></div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in;margin-left: .25in;margin-right: 0in;margin-top: 0in"> </div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in;margin-left: .25in;margin-right: 0in;margin-top: 0in"> <b>Most homes will be modular and customs will be built with pre-manufactured parts.</b></div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in;margin-left: .25in;margin-right: 0in;margin-top: 0in"> </div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in;margin-left: .25in;margin-right: 0in;margin-top: 0in"> <b>Each home will have its own water reclamation/recycling plant.</b></div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in;margin-left: .25in;margin-right: 0in;margin-top: 0in"> </div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in;margin-left: .25in;margin-right: 0in;margin-top: 0in"> <b>Clients will take life-like virtual walk-through of their homes before they are constructed or purchased.</b></div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in;margin-left: .25in;margin-right: 0in;margin-top: 0in"> </div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in;margin-left: .25in;margin-right: 0in;margin-top: 0in"> <b>Energy will be generated by sunlight hitting a home's windows.</b></div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in;margin-left: .25in;margin-right: 0in;margin-top: 0in"> </div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in;margin-left: .25in;margin-right: 0in;margin-top: 0in"> <b>Wires will not exist.</b></div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in;margin-left: .25in;margin-right: 0in;margin-top: 0in"> </div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in;margin-left: .25in;margin-right: 0in;margin-top: 0in"> <b>Toilets will have DNA scanners that can detect proteins and fragments of cancer cells before tumors develop.</b></div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in;margin-left: .25in;margin-right: 0in;margin-top: 0in"> </div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in;margin-left: .25in;margin-right: 0in;margin-top: 0in"> <b>Every home will be net-zero.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b></div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in"></div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in">I believe most on the list will come true.&nbsp; It seems like everything is moving too fast.&nbsp; Maybe it is time we go backwards.&nbsp; Life was simpler and something to be said about the "good ole days".&nbsp;&nbsp;</div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in"></div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in">What are your thoughts?</div> <div class="MsoNormal" style= "margin-bottom: .0001pt;margin-bottom: 0in"></div> <div class="MsoNormal"></div> Uncategorized Sun, 25 Nov 2012 22:48:00 -0500 Shop Small Saturday in Franklin County, Ma https://www.wandamooney.com/blog/posts/2012/11/23/shop-small-saturday-in-franklin-county-ma/ <div class="separator" style="clear: both;text-align: center"> <a href= "http://1.bp.blogspot.com/-mm8wNK5HQys/UK-Ers-TUVI/AAAAAAAAAxI/UVkovXqGZTw/s1600/images.jpg" style= "clear: left;float: left;margin-bottom: 1em;margin-right: 1em"><img border="0" height="200" src= "http://1.bp.blogspot.com/-mm8wNK5HQys/UK-Ers-TUVI/AAAAAAAAAxI/UVkovXqGZTw/s200/images.jpg" width="198" /></a></div> <div style="text-align: justify"></div> <div style="text-align: justify">Tomorrow is an important day for the small businesses that count on your support during the holiday season. What I enjoy about shopping local is the unique gifts that you can purchase for that special person in your life. &nbsp;There is nothing like receiving a gift that is handcrafted by a local person or a gift certificate to your favorite local store. &nbsp;Think about all the wonderful places we have to pick from when selecting that special gift. &nbsp;We are fortunate to live in a community that is alive with tradition. &nbsp;Forget the mall - shop small!&nbsp;</div> <p>Enjoy the weekend. &nbsp;Happy Shopping!</p> <p><a href= "https://www.americanexpress.com/us/small-business/Shop-Small/?pkw=small+business&pmt=p&pcrid=15844209894" target="_blank">Click here for more information about Shop Small Saturday.</a></p> Uncategorized Fri, 23 Nov 2012 14:20:00 -0500 Moonlight Magic, Shelburne Falls - Friday Nov. 23rd https://www.wandamooney.com/blog/posts/2012/11/21/moonlight-magic-shelburne-falls-friday-nov-23rd/ <div class="separator" style="clear: both;text-align: center"> <a href= "https://s3.amazonaws.com/files.usmre.com/5577/558919_448630381861384_26202979_n.jpg" style= "clear: left;float: left;margin-bottom: 1em;margin-right: 1em"><img border="0" height="320" src= "https://s3.amazonaws.com/files.usmre.com/5577/blog/misc/558919_448630381861384_26202979_n.jpg" width="205" /></a></div> <p>Looking forward to this years Moonlight Magic in the Village of Shelburne Falls. &nbsp; &nbsp;It is a wonderful evening that is guaranteed to get you in the spirit of the holiday season. &nbsp; &nbsp;The whole family will love it! &nbsp;Great food - listen to carolers - watch street performers - check out all the shops that are open late.</p> <p>The festivities start Friday November 23rd at 4:00 p.m. &nbsp;You will want to get there early to park. &nbsp;The lighting of the village starts promptly.</p> <p>Get your holiday shopping done early and don't forget this weekend is small business Saturday! &nbsp;You can start supporting local businesses on Friday evening right here in the charming Village of Shelburne Falls!</p> <p>Look forward to seeing you Friday night!</p> Uncategorized Wed, 21 Nov 2012 22:42:00 -0500 Housing Update - Chief Economist National Assoc of REALTORS https://www.wandamooney.com/blog/posts/2012/11/18/housing-update-chief-economist-national-assoc-of-realtors/ <p><span style= "background-color: white;color: #4b3c39;font-family: nimbus-sans;font-size: 14px;line-height: 18.58333396911621px"> National Association of REALTORS Chief Economist Lawrence Yun breaks down the housing market, job growth numbers and the impact of the Presidential election in this candid interview. &nbsp;An interview worth listening to.</span><br /> <span style= "background-color: white;color: #4b3c39;font-family: nimbus-sans;font-size: 14px;line-height: 18.58333396911621px"> <br /></span></p> Uncategorized Sun, 18 Nov 2012 02:32:00 -0500 Mortgage Interest Deduction - Will it be eliminated? https://www.wandamooney.com/blog/posts/2012/11/18/mortgage-interest-deduction-will-it-be-eliminated/ <div class="separator" style="clear: both;text-align: center"> <a href= "https://s3.amazonaws.com/files.usmre.com/5577/blog/misc/mortgage_loan_statement_200.jpg" style= "clear: left;float: left;margin-bottom: 1em;margin-right: 1em"><img border="0" src= "https://s3.amazonaws.com/files.usmre.com/5577/blog/misc/mortgage_loan_statement_200.jpg" /></a></div> <p><span style= "font-family: Verdana, sans-serif;font-size: x-small">I am often asked if I think the mortgage interest deduction will eventually be eliminated. &nbsp;It is one way our government is proposing to help reduce the national debt. &nbsp;It is definitely going to change and those making a certain amount won't be able to take the deduction. &nbsp; I came across this article that defines how this could affect you. &nbsp;&nbsp;</span></p> <p><b><u>HOW FISCAL CLIFF COULD AFFECT THE MORTGAGE INTEREST DEDUCTION:</u></b></p> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style="font-family: Verdana, sans-serif;font-size: 10pt">It is arguably one of the most popular U.S. tax deductions, and for some it is the necessary stimulus to buy a home.</span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style= "font-family: Verdana, sans-serif;font-size: 10pt"><br /></span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <a href="" name="StoryImage" id="StoryImage"></a><span style= "font-family: Verdana, sans-serif;font-size: 10pt">The mortgage interest deduction, however, is now at risk, due to negotiations over the so-called "</span><b><span style= "font-family: Verdana, sans-serif;font-size: 10pt"><span style= "color: #2d648a"><a href="http://www.cnbc.com/id/49464221/" target= "_blank">fiscal cliff</a></span></span></b><span style= "font-family: Verdana, sans-serif;font-size: 10pt">"--the year-end deadline for large spending cuts and the expiration of tax cuts.</span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style= "font-family: Verdana, sans-serif;font-size: 10pt">While it is impossible at this point to know what the outcome will be, it is certainly worth running through the possibilities.&nbsp;</span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style= "font-family: Verdana, sans-serif;font-size: 10pt"><br /></span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style= "font-family: Verdana, sans-serif;font-size: 10pt">First, let's do a primer on the deduction as it stands now:</span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style= "font-family: Verdana, sans-serif;font-size: 10pt"><br /></span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style="font-family: Verdana, sans-serif;font-size: 10pt">The deduction lets homeowners reduce their taxable income by the amount of interest paid on their mortgage. This can be on the principal residence or a second home, but not on mulitple investment properties. Taxpayers are eligible for this deduction only if they itemize. Finally, the interest deduction is capped at $1 million of your mortgage.</span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style= "font-family: Verdana, sans-serif;font-size: 10pt"><br /></span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;margin-bottom: 12pt;text-align: justify"> <span style="font-family: Verdana, sans-serif;font-size: 10pt">This deduction, which is the largest housing-related subsidy in the U.S. tax code, reduced income-tax revenue by $79.9 billion in fiscal year 2007, according to the Office of Management and Budget. So what is that in real cash savings to taxpayers? Number crunchers at the Wharton business school did the math:</span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style="font-family: Verdana, sans-serif;font-size: 10pt">For those making less than $40,000 a year, the average tax savings is about $100. But in that bracket less than one-quarter of homeowners itemize deductionsl, so most don't get anything.&nbsp;</span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style="font-family: Verdana, sans-serif;font-size: 10pt">For those earning up to $250,000, the average savings, based on average mortgage amounts, would be $1,200-$2,600 a year. For those earning more than $250,000, and 100 percent of them itemize, the average savings is $5,400 a year.</span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style= "font-family: Verdana, sans-serif;font-size: 10pt"><br /></span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style="font-family: Verdana, sans-serif;font-size: 10pt">Now to the proposals--and they are many.</span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style= "font-family: Verdana, sans-serif;font-size: 10pt"><br /></span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style="font-family: Verdana, sans-serif;font-size: 10pt">One, released by the Simpson-Bowles commission, would cap the mortgage interest deduction at $500,000 of the home's value and limit the deduction to primary residence. &nbsp;</span><span style= "font-family: Verdana, sans-serif;font-size: 10pt;line-height: 16.5pt">A bipartisan plan from Domenici-Rivlin would limit the deduction to just $25,000 worth of mortgage interest.</span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style= "font-family: Verdana, sans-serif;font-size: 10pt"><br /></span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style= "font-family: Verdana, sans-serif;font-size: 10pt">Other proposals include eliminating the deduction only for taxpayers earning $250,000 or more, ending the benefit for second homes, ending the deduction entirely or limiting the amount of all itemized deductions to $25,000. That last one was advocated by Mitt Romney, but apparently some Democrats on Capitol Hill are starting to espouse it. &nbsp;</span><span style= "font-family: Verdana, sans-serif;font-size: 10pt;line-height: 16.5pt">Without one proposal leading the pack, again, it is impossible to boil down the real cost to homeowners, but suffice it to say that anyone in the business of home ownership is opposed to reducing the mortgage interest deduction.</span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style= "font-family: Verdana, sans-serif;font-size: 10pt;line-height: 16.5pt"> <br /></span></div> <div class="MsoNormal" style= "background-color: white;margin-bottom: 0.0001pt"></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style= "font-family: Verdana, sans-serif;font-size: 10pt">"It's chilling the market," said Jerry Howard, CEO of the National Association of Home Builders.&nbsp; "Whenever there is uncertainty surrounding the value of an American home, why would you expect people to go out and buy a home? Or, just as much to the point, when there's uncertainty about the value of a home why would someone put their house on the market to sell it, that's why this whole debate to me is counter-productive and is only retarding the nation's economic recovery."</span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style= "font-family: Verdana, sans-serif;font-size: 10pt"><br /></span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style="font-family: Verdana, sans-serif;font-size: 10pt">"The mortgage interest deduction is vital to the stability of the American housing market and economy, and we will remain vigilant in opposing any future plan that modifies or excludes the deductibility of mortgage interest," said Gary Thomas, president of the National Association of Realtors.</span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style= "font-family: Verdana, sans-serif;font-size: 10pt"><br /></span></div> <div class="MsoNormal" style= "background-color: white;line-height: 16.5pt;text-align: justify"> <span style= "font-family: Verdana, sans-serif;font-size: 10pt">Whatever the arguments for or against the mortgage interest deduction, two things are indisputable.&nbsp; Going over the fiscal cliff will kill the housing recovery, but said recovery is already so tenuous that yet another barrier to entry will hurt.</span></div> <div class="MsoNormal" style= "background: white;line-height: 16.5pt"></div> <div style="text-align: justify"><i style= "line-height: 16.5pt"><span style= "font-family: Verdana, sans-serif;font-size: 10pt">--By CNBC's Diana Olick</span></i></div> <div style="text-align: justify"></div> <p><i style="line-height: 16.5pt"><span style= "font-family: Verdana, sans-serif;font-size: 10pt">--Realty Check producer Stephanie Dhue contributed to this report.</span></i></p> Uncategorized Sun, 18 Nov 2012 02:01:00 -0500 Crafts of Colrain - Local Artists - Open Studio https://www.wandamooney.com/blog/posts/2012/11/10/crafts-of-colrain-local-artists-open-studio/ <div class="separator" style="clear: both;text-align: center"> <a href= "https://s3.amazonaws.com/files.usmre.com/5577/Colrain-regular-Logo.png" style= "clear: left;float: left;margin-bottom: 1em;margin-right: 1em"><img border="0" height="141" src= "https://s3.amazonaws.com/files.usmre.com/5577/blog/misc/Colrain-regular-Logo.png" width="200" /></a></div> <p>The <a href="http://www.craftsofcolrain.com/index.html" target= "_blank">Crafts of Colrain</a> is a full weekend of a self guided tour with 18 artists and farms that will display and sell their work. &nbsp; Enjoy a beautiful drive in the country and get started on your holiday shopping. &nbsp; Give a gift that is locally made! . &nbsp;Hours for both days are 10 to 5.&nbsp; &nbsp;For more information about the tour, artists and a map check out the <a href="http://www.craftsofcolrain.com/index.html" target= "_blank">Crafts of Colrain web site</a>!</p> <div class="MsoNormal"></div> Uncategorized Sat, 10 Nov 2012 01:42:00 -0500 Cornucopia Auction - Academy at Charlemont - Sat Nov. 3 https://www.wandamooney.com/blog/posts/2012/11/03/cornucopia-auction-academy-at-charlemont-sat-nov-3/ <div class="separator" style="clear: both;text-align: center"> <a href= "https://s3.amazonaws.com/files.usmre.com/5577/images+(1).jpg" style= "clear: left;float: left;margin-bottom: 1em;margin-right: 1em"><img border="0" height="138" src= "https://s3.amazonaws.com/files.usmre.com/5577/blog/misc/images+(1).jpg" width= "200" /></a></div> <div style= "background: white;line-height: 18.0pt;margin-bottom: 7.5pt;margin-left: 0in;margin-right: 7.5pt;margin-top: 7.5pt"> <span style= "font-family: Arial, sans-serif;font-size: 10pt"><br /></span></div> <div style= "background: white;line-height: 18.0pt;margin-bottom: 7.5pt;margin-left: 0in;margin-right: 7.5pt;margin-top: 7.5pt"> <span style= "font-family: Arial, sans-serif;font-size: 10pt"><b><u><a href= "http://www.charlemont.org/news/124-cornucopia-auction" target= "_blank">CORNUCOPIA AUCTION</a></u></b></span></div> <div style= "background: white;line-height: 18.0pt;margin-bottom: 7.5pt;margin-left: 0in;margin-right: 7.5pt;margin-top: 7.5pt"> <span style="font-family: Arial, sans-serif;font-size: 10pt">Join us for a wonderfully entertaining evening at the 9th annual Cornucopia Auction. The event will be held&nbsp;Saturday, November 3, 2012 from 5 to 9 PM. at the Academy at Charlemont.&nbsp;</span></div> <div style= "background-color: white;line-height: 18pt;margin: 7.5pt 7.5pt 7.5pt 0in"> <span style= "font-family: Arial, sans-serif;font-size: 10pt;line-height: 18pt"><br /> </span></div> <div style= "background-color: white;line-height: 18pt;margin: 7.5pt 7.5pt 7.5pt 0in"> <span style= "font-family: Arial, sans-serif;font-size: 10pt;line-height: 18pt">Schedule for the Evening:</span></div> <div style= "background-color: white;line-height: 18pt;margin: 7.5pt 7.5pt 7.5pt 0in"> <span style="font-family: Arial, sans-serif;font-size: 10pt">5:00 - 6:00&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preview</span></div> <div style= "background-color: white;line-height: 18pt;margin: 7.5pt 7.5pt 7.5pt 0in"> <span style="font-family: Arial, sans-serif;font-size: 10pt">6:00 - 7:30&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Silent Auction Bidding</span></div> <div style= "background-color: white;line-height: 18pt;margin: 7.5pt 7.5pt 7.5pt 0in"> <span style="font-family: Arial, sans-serif;font-size: 10pt">7:30 - 9:00&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Live Auction</span></div> <div style= "background-color: white;line-height: 18pt;margin: 7.5pt 7.5pt 7.5pt 0in"> <span style="font-family: Arial, sans-serif;font-size: 10pt">The Silent Auction bidding will start promptly at 6 and finish at 7:30 when the live auction commences. Former Academy parent&nbsp;Doug Wilkins returns this year as auctioneer. The Academy's Sumner Recital Hall is transformed into a beautiful gallery for a dazzling array of high quality silent and live auction items.&nbsp; Student servers offer trays of delicious hors d'oeuvres and samples of local award-winning cheeses, local sweet cider,&nbsp;West County hard ciders, Berkshire Brews, and fine wines selected by the Shelburne Falls Wine Merchant.</span></div> <div style= "background-color: white;line-height: 18pt;margin: 7.5pt 7.5pt 7.5pt 0in"> <span style="font-family: Arial, sans-serif;font-size: 10pt">The Cornucopia Auction provides the Academy and the greater community an opportunity to come together to celebrate all that is special about where we live, in addition to generating financial support for the school. It is a wonderful evening of networking, holiday shopping and eating treats, so please join us to show your support.</span></div> <div style= "background-color: white;line-height: 18pt;margin: 0in 7.5pt 0.0001pt 0in"> <span style= "font-family: Arial, sans-serif;font-size: 10pt">Tickets are $20 per person. &nbsp;For more information and list of auction items - visit the <a href= "http://www.charlemont.org/news/124-cornucopia-auction" target= "_blank">web site</a>!</span></div> <div class="MsoNormal"></div> Uncategorized Sat, 03 Nov 2012 02:05:00 -0400