home buying advice: ALL IN THE FAMILY - 12/05/09 07:08 AM
Many areas of the country are experiencing buyers markets, and current tax laws make this a very attractive time for parents to help their children become homeowners. Prices and interest rates may never be lower than they are now, so strongly consider this potential investment in your children's future.
As parents, you can provide a significant down payment, free of taxation. Individuals may gift up to $13,000 per year, so two parents making gifts to their child and spouse can give a total of $52,000 in one year without paying gift tax!
Above and beyond the outright gift, you may … (1 comments)
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home buying advice: HEADS OR TAILS? - 07/10/09 12:45 PM
They say that no coin is so thin that it doesn't have two sides, and home prices are not so different. Many who invested like mad in real estate the last few years felt the giddiness of buying low and selling high. Investors are feeling the pinch now, but what about the regular folks who buy and sell their homes not for profit, but simply because they want security for themselves and their families?
Sellers want rising home values, but buyers need affordable housing. Unfortunately, these two concepts are often mutually exclusive. Sellers may not feel as positively about the … (0 comments)
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