search homes silver spring md: New 3.8% Medicare Tax on Real Estate Investment Income
- 11/27/12 08:38 AM
A new 3.8 percent tax will be imposed on some investment incomes starting January 1, 2013. The details regarding this tax are very specific and will not affect everyone the same. However, this is what the National Association of Realtors knows so far: The tax will apply to some incomes derived from interest, dividends, rents (less expenses) and capital gains (less losses). Only individuals with an adjusted gross income above $200,000 or couples (who file jointly) with an adjusted gross income above $250,000 will be subject to this tax. The new tax applies to the lesser of: - the investment income amount OR - the … (1 comments)
search homes silver spring md: Pros and Cons of HOA’s
- 10/17/12 11:11 AM
When you search homes in Silver Spring, MD, you’ll want to take note of properties that are part of a homeowners association (HOA). An HOA collects dues from owners on a monthly, quarterly, or yearly basis. These dues are put towards a variety of different amenities, depending on the specific association. Some HOA’s will cover...Continue Reading … (3 comments)
search homes silver spring md: Common Problems Found During Home Inspections
- 10/03/12 01:06 AM
Buying a home is the largest investment most people will make in their lifetime, so it only makes sense to exercise due diligence to the fullest extent possible before making such a large commitment. This includes having the home properly inspected for various issues. Here’s a list of the most common issues found during home inspections: · Electrical Homeowners will “fix” an electrical problem in the home by altering the wiring, but the work is very rarely to code – meaning a professional will have to come in and redo the work completed by the DIY homeowner. · Plumbing Outdated plumbing … (2 comments)
search homes silver spring md: How to Make a Competitive Offer
- 09/25/12 10:01 PM
If you would like to buy a home in Silver Spring, MD this year then you’re not alone. 2012 has brought some fierce demand the metropolitan area’s housing supply. Depending on your targeted price range, desired neighborhood and amenities, you could find yourself bidding against other buyers. If this happens, here are some strategies that will make your offer more competitive: Fair Price After you and your Silver Spring, MD Realtor sit down together and compare similar properties to the one you’d like to buy, establish a fair offer price. This amount should be based on what has sold within the past 90 days, at … (3 comments)
search homes silver spring md: Buyers’ Most Common Questions Answered
- 09/19/12 11:21 AM
Buyers are receiving many conflicting messages about the current state of the real estate market. Have prices bottomed out, or will they continue to go down more? Will interest rates continue going down? Is real estate really a good investment right now? While no one can say with absolute certainty what the future holds, I can speak confidently about present trends for real estate in Silver Spring, MD. Because Silver Spring is located within the DC metro area, home prices will never be as depressed as home prices around the country. Therefore, when you hear reports about the nation’s median home values, … (2 comments)
search homes silver spring md: Remove Stress from the Home Buying Process
- 09/12/12 12:54 AM
Buying a home is an exciting time – especially for first-time home buyers – but it’s also easy to become overwhelmed and anxious during the process. The best method that I’ve found to diffuse nervous tension (besides a spa massage) is to adhere to the following principals: Perspective The biggest mistake I see buyers make is focusing too much on the small details and not enough on the big picture. This is usually most evident during the home search process. In real estate, we have a saying: You can change anything on the inside, but you can’t change the location. In … (2 comments)
search homes silver spring md: How to Get a Quality Home Inspection
- 09/04/12 08:40 PM
When conducting a search for homes in Silver Spring, MD, it’s easy to get caught up in the experience. Walking into each home feels like a brand new adventure, some more positive than others. But once the glimmer from granite countertops and stainless steel appliances fades, buyers are faced with the less fun task of a home inspection. A home inspection is one of the most important parts of the home buying process. It goes beyond the beige walls and into the bones of the home. For this reason, hiring a reputable and knowledgeable home inspector is extremely important. If you’re not sure how … (2 comments)
search homes silver spring md: New Loan Guidelines present New Challenges to Home Buyers
- 08/28/12 09:52 PM
Mortgage rates have remained at historic lows for most of 2012, and while they are not showing signs of a significant increase in the near future, one thing is going to change soon – qualifications. According to a recent statement released by Fannie Mae, new lending restrictions will make it more difficult for applicants to qualify for a home loan or refinance. Examples? Currently, the maximum loan-to-value ratio accepted is 97 percent, but this number will soon reduce to 90 percent. In addition, the currently accepted minimum credit score will rise from 620 to 640. If the applicant is self-employed, they may … (0 comments)
A new 3.8 percent tax will be imposed on some investment incomes starting January 1, 2013. The details regarding this tax are very specific and will not affect everyone the same. However, this is what the National Association of Realtors knows so far:
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