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Dallas, TX Real Estate News

By Bob Jablonsky, We're Tax Specialists for Real Estate Agents
(Bob Jablonsky & Associates)
In this week’s installment in our series of taxation and investing in Real Estate we will discuss who qualifies as a Real Estate Professional in the eyes of the IRS and what does it mean to be a Real Estate Professional.  Generally, if I ask any taxpayer who comes into my Richardson TX tax office who owns investment real estate if they are a Real Estate Professional, they will tell me YES, but who actually qualifies under IRS rules.  What is a Real Estate Professional?There are two tests that must be met to qualify as a Real Estate Professional for tax purposes and the taxpayer must meet BOTH of the requirements: They must perform 750+ hours of service during the year in real property trades or business (More Below), Must be performed in Real property trades or business, Must materially...
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By Bob Jablonsky, We're Tax Specialists for Real Estate Agents
(Bob Jablonsky & Associates)
Last week we covered reporting Rental Real Estate activities on tax returns. This week we’ll give an overview of Expenses. Next week, we will cover depreciation separately and we will continue to cover various topics pertaining to Rental Real Estate over the coming weeks. In general, the IRS will let an investor deduct ordinary and necessary expenses that are needed to manage, conserve, or maintain the property. Since Most of the taxpayers who come into our Richardson tax office with real estate investments are taxpayers who use the cash basis of tax reporting, costs would be expensed in the year paid. If you are an accrual basis taxpayer, talk with your accountant or give us a call. Payment by credit card is considered the same as payment with cash. Some of the typical expenses related...
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By The Legacy Group, The LegacyGroup of CrossCountry Mortgage
(CrossCountry Mortgage)
Veterans now have access to a new VA renovation loan to refurbish or remodel their homes.  This loan program is available for new home purchases as well as for remodeling homes currently owned by the veteran.  It is estimated that over 50% of homes nationally are 40 years or older, and in the current housing market many homes are in need of updating, addressing deferred maintenance, or improving the energy efficiency of homes to lower utility costs.VA loan benefits include the following unique advantages:  a.  up to 100% financing, b.  no mortgage insurance, c.  up to $ 35,000 in renovation funds escrowed, d.  all renovations must be completed within 60 days of closing, e.  you can close on a purchase or refinance in the “as is” condition, f. you can borrow against the future value of t...
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By Bob Jablonsky, We're Tax Specialists for Real Estate Agents
(Bob Jablonsky & Associates)
Last week we covered the general rules around reporting rental Real Estate activities on tax returns. This week we’ll begin to dive into more specific issues related to income tax reporting for Real Estate Investors, by covering the reporting of income on rentals. Today, we’ll cover income related to the lease itself, primarily the monthly payments from the tenant/leasee to the landlord/leasor.  In a future segment, we’ll cover sales of real estate.  Most of the taxpayers who come into our Richardson tax office are individual taxpayers who use the cash basis of tax reporting. This makes it fairly simple. Income is reported when it is received by the owner of the real estate. Rental income is reported when received or constructively received. The IRS in Publication 538 describes construc...
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By Bob Jablonsky, We're Tax Specialists for Real Estate Agents
(Bob Jablonsky & Associates)
There are times when I have taxpayers come into  Dallas, TX tax office, who are experiencing difficult financial times, often through no fault of their own. Perhaps they’ve had a death in the family, lost their jobs for an extended period of time, or have had medical issues which have put them in financial straits, and as a result, they have IRS debt. Often, these taxpayers will qualify as Current Uncollectible with the IRS, since they do not have sufficient income to meet their allowable living expenses and do not have assets that the IRS has determined it can levy.  There are several positive events that result as a result of being categorized as Currently Uncollectible that include: The IRS will not actively pursue the Taxpayer in Collections, As such, the IRS will not levy the asset...
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By Bob Jablonsky, We're Tax Specialists for Real Estate Agents
(Bob Jablonsky & Associates)
Investing in Real Estate has been a very effective way for Americans to build wealth. With rising real estate prices combined with low interest rates, it has become even more popular. Today, we’ll cover some of the topics that come up when taxpayers who invest in real estate come to our Dallas, TX office. For today, at a very high level, we’ll discuss the general rules around rental properties including allowable income and expense and taxation. In future blogs, we will cover specific issues in more depth. Rental IncomeAs a general rule, you must include in your gross income all amounts received as rent. This would include normal rent payments as well as future rent payments, lease cancellation payments, and portions of security deposits that are kept. We’ll dig into these topics more c...
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By The Legacy Group, The LegacyGroup of CrossCountry Mortgage
(CrossCountry Mortgage)
There are many benefits to a VA home loan. It’s important to know how these loans can help you. First, thank you for your service to our country. According to the Mortgage reports, VA loans stand apart for its combination of low rates, lenient underwriting, and secondary benefits. These are 10 Dallas TX VA loan benefits in 2019. These are:        No down payment on a VA loan        No mortgage insurance        VA loans have a government guarantee        Your ability to shop and compare VA loans        VA loans don’t allow a prepayment penalty        They come in many varieties        It’s easier to qualify for a VA loan        VA loan closing costs are lower        The VA loan offers funding fee flexibility    VA loans are assumable Backed by the U.S. Department of Veterans Affairs, VA ...
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By The Legacy Group, The LegacyGroup of CrossCountry Mortgage
(CrossCountry Mortgage)
Veterans now have access to a new VA renovation loan to refurbish or remodel their homes.  This loan program is available for new home purchases as well as for remodeling homes currently owned by the veteran.  It is estimated that over 50% of homes nationally are 40 years or older, and in the current housing market many homes are in need of updating, addressing deferred maintenance, or improving the energy efficiency of homes to lower utility costs.VA loan benefits include the following unique advantages:  a.  up to 100% financing, b.  no mortgage insurance, c.  up to $ 35,000 in renovation funds escrowed, d.  all renovations must be completed within 60 days of closing, e.  you can close on a purchase or refinance in the “as is” condition, f. you can borrow against the future value of t...
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By Kristen Correa, Broker, I love coffee & real estate. I am out of coffee!
(Kristen Correa Real Estate & Reedy Creek Realty Services)
What do you do when you're not selling houses?I. LOVE. LIVE. MUSIC!Monday Michael Buble comes to Dallas and my friend has tickets in section 116 for $175.And... I can't go with her. Kid stuff.Wanna go? Let me know. I will hook you up.
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By Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless!
(Lisa Von Domek Team)
How to make Natural Air FreshenerLearn how to make simple Homemade Air Fresheners that are Cheap and Safe for the Household and Environment from home staging expert John Mangano. This is an effective way to deodorize your home for home staging, easy and inexpensive and safe for the environment too.  Another Green tip for you from your Dallas Green Realtor Lisa Von Domek and HSC 
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By Patricia Feager, MBA, CRS, GRI,MRP, Selling Homes Changing Lives
(DFW FINE PROPERTIES)
Thoughts to Ponder, 2/27/19Patricia Feager  "With all their benefits, and there are many, one of the things I regret about e-books is that they have taken away the necessity of trawling foreign bookshops or the shelves of the holiday houses to find something to read. I've come across gems and stinkers that way, and both can be fun."  --- JK Rowling Have Shelves Been Put On The Shelf?There are many lessons to learn about histories past and present. For example, these shelves that were built inside the DeGolyer Tea Room at the Dallas Arboretum were an inspiration for this blog post. As often happens when one sits quietly and listens, thoughts and other people's words cloud the room. Something many real estate agents and stagers suggest to sellers in preparation to list their home for sale...
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By The Legacy Group, The LegacyGroup of CrossCountry Mortgage
(CrossCountry Mortgage)
Veterans now have access to a new VA renovation loan to refurbish or remodel their homes.  This loan program is available for new home purchases as well as for remodeling homes currently owned by the veteran.  It is estimated that over 50% of homes nationally are 40 years or older, and in the current housing market many homes are in need of updating, addressing deferred maintenance, or improving the energy efficiency of homes to lower utility costs. VA loan benefits include the following unique advantages:  a.  up to 100% financing, b.  no mortgage insurance, c.  up to $ 35,000 in renovation funds escrowed, d.  all renovations must be completed within 60 days of closing, e.  you can close on a purchase or refinance in the “as is” condition, f. you can borrow against the future value of ...
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By Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless!
(Lisa Von Domek Team)
 How to Prevent Frozen PipesArctic temperatures can wreak havoc on plumbing...have you protected your pipes from frigid temperatures?  Even in the Dallas area, winter weather can plummet below the freezing mark.  Here are some quick and easy tips to help prevent your pipes from freezing this winter in this video from Roto Rooter.         
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By Michelle Musick Jones, The Michelle Musick Jones Team - Texas Real Estate
(Coldwell Banker Apex, Realtors)
Single Family Home for sale in Dallas, TX Overview Maps Photos Features Description Neighborhood Open House Market Stats $2,100,000 Single Family Home Main Features 5 Bedrooms5 Full Bathrooms1 Half BathroomInterior: 9,024 sqftLot: 0.53 acre(s)Year Built: 1985MLS #: 13877652 Location 5605 Bent Tree DriveDallas, TX 75248USA Michelle Musick Jones Team Coldwell Banker, Apex(214) 280-9384michellesellsdallas@gmail.comhttp://www.michellesellsdallas.com   Listed by: Coldwell Banker Apex Our recent listings Five bedrooms with pool on culdesac street in Twin Creeks 2 | $499,000 | Allen, TXTownhouse | $325,000 | Carrollton, TXUpdated One-Story in Twin Creeks with 3 Car Garage | $469,900 | Allen, TXBeautiful Highland Home boasting 4 living areas with a study plus a large backyard | $499,900 | Alle...
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By Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless!
(Lisa Von Domek Team)
  If you are looking for something to do, here are some links to help you.  Amusement / Theme Parks Ripley's Believe It Or Not Six Flags Over Texas Six Flags Hurricane Harbor Water Park AquariumThe Dallas World AquariumCalendar of EventsEvents Calendar - Find things to do by dateEvents Toys For Tots Events Calendar - Find Things To Do Today! Museums - Dallas Art Biblical Art Frontiers of Flight George W. Bush Library at SMU John F. Kennedy - JFK / The Sixth Floor Nasher Sculpture Center Nature and Science Old Red Museum of Dallas County History & Culture Perot Museum of Nature and Science SMU Meadows Museum Museums - Fort Worth Amon Carter Kimbell Art Modern Art National Cowgirl Science And Industry Stockyards Museum ParksTexas Parks and WildlifeShopping Galleria Highland Park Village N...
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By Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless!
(Lisa Von Domek Team)
The low inventory trend is changing for the Dallas area, but the available pre-owned homes (resale) remains below what we need.  November, as with prior months, reflected a much needed increase in that inventory:      New construction homes showed an increase in their available inventory from 2017:       And although the median price fluctuates month to month, it is exciting to see that the median home price continues to remain strong for our Dallas Real Estate market in resale homes:       And homes are being listed and sold within a close margin; new construction is priced on point whereas resale homes are showing a slight price adjustment from list to sold prices:         Are you ready to search for your new Dallas area Dream Home?     Click the logo to begin!      
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By Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless!
(Lisa Von Domek Team)
Ho-Ho-Ho, It’s Christmas Giving Time.  Homeless and abused animals could use your help.  My "kids" made donations today for those shelter babies still looking for their "Furever" homes.   If you are able to help, please visit one (or more) of the website links that follow to make a donation to some needy four-legged friends! As you can see, Holly and Cody are dreaming of what Santa Clause will bring them!    Click on the names to be directed to their website:Operation KindnessSPCA of TexasGreyhounds UnlimitedDallas Animal Services  Wishing you and yours a Very Merry Christmas!!!     
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By Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless!
(Lisa Von Domek Team)
 I found this recipe last Easter when I was scouring the Food Networkwebsite in search of a new side dishthat I had not prepared before.The Creamed Vidalia Onions were a huge success.  Give this dish a try, I know you will love it!      Photograph by Roland Bello  CREAMED VIDALIA ONIONS   Directions Preheat the oven to 350 degrees F. Melt 4 tablespoons butter in a stoveproof gratin dish over medium-high heat; add 4 pounds Vidalia onions (cut into wedges) and cook 5 minutes. Add a pinch each of nutmeg, cayenne, salt and black pepper, then add 3 tablespoons white wine and simmer 2 minutes. Whisk 1 1/4 cups half-and-half and 3 tablespoons flour; stir into the onions and bring to a boil. Mix 2 tablespoons melted butter, 1 cup panko (Japanese breadcrumbs), 2 tablespoons chopped chives, and s...
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By Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless!
(Lisa Von Domek Team)
For those of you that love a great dessert - there's only one thing that could make a s'mores-and-cheesecake dessert better—and that's the fact that it's a no-bake recipe!  Those clever folks at KRAFT know that you don't want to have your oven on in the summer and came up with this sweet cure for cheesecake and s'mores lovers...   PHILADELPHIA S'mores No-Bake CheesecakeWhat You Need  2 cups graham cracker crumbs   6 Tbsp. butter, melted   2/3 cup sugar, divided   3 pkg. (8 oz. each) PHILADELPHIA Cream Cheese, softened   1 tsp. butter extract   2 cups JET-PUFFED Miniature Marshmallows, divided   1-1/2 cups semi-sweet chocolate chips, divided   1 tub (8 oz.) COOL WHIP Whipped Topping, thawed     Make It   Line 13x9-inch pan with Reynolds Wrap® Aluminum Foil, with ends of foil extending ov...
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By Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless!
(Lisa Von Domek Team)
  Jingle bells, jingle bells, jingle all the way…   Oh, what fun it is to ride coasters and play at Holiday in the Park all day! Never been to Holiday in the Park at Six Flags Over Texas before? Click the photo above to take a sneak-peek at just some of all the delightful holiday fun that awaits you and your loved ones.  Join in all of the Holiday Fun today.    Click the photo for the direct link to Six Flags Holiday in the Park!           
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