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    Bene’s To Owning A Home Tax Savings

    130k Views

    We all know there are many benefits to owning a home.

    We KNOW that but we can’t always visualize it. We don’t necessarily KNOW what it means to us, in Dollars and Cents.

    This graphic, from the California Association Of Realtors, gives one example (minus the cents).

    Don’t let the title fool you.

    The title of the report is referring to the person used in the example as a “First Time Buyer”… but look at the numbers. They play out in all scenarios.

    In the example, they’re comparing “Barbara’s” taxable income in 2017 when she rented to 2018 as being an owner and under the new tax laws. They’re only looking at “Federal Income Taxes” and not counting in savings from state taxes and they’re showing Barbara saving over $4,000 annually ($399 per month). 

    Barbara can get access to that money monthly, in her paycheck, by adjusting her withholding. She would be able to increase her monthly paycheck by using the allowed deductions. By taking the $399 monthly, in her paycheck, she could then apply it to her mortgage payments. If Barbara uses this money monthly, rather than waiting for an annual return, she could effectively lower her monthly payment by that $399.

    Take a look at the PDF below. You’ll be amazed!

    Visualize-The-Financial-Benefits-Of-Owning-A-Home-Tax-Savings-Are-Great

    Please remember that this is just a graphical representation to help you see some potential up side to owning a home. This post or the information in it should NOT be taken as tax advice. Please consult a tax professional for that… then… let’s go buy a house!

  • in Uncategorized

    Find Your Dream Home

    180k Views

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    Get Help Finding Your Dream Home

    In Record Time!

    You’re here to get your dream home in record time. To get that home… enter your information below:

    https://craigyacerealtor.activehosted.com/f/15

  • Free Report

    180k Views

    In the report, you’ll not only get the right questions to ask, but you will also learn how to interpret their answers, so that any red flags from an agent will be immediately uncovered. Go ahead and grab the report by clicking the button below!

    This valuable report will help you determine the best agent to hire. It is ESPECIALLY for you if you’re thinking of hiring Aunt Sally… or a co-worker, who is a part time agent

     

    Feel Free to Call Me Anytime on 951-733-5400

  • in Blogs

    Bell Shaped Curve

    150k Views

    In this video Craig explores how to buy a home while considering the bell shaped curve.

    Definition: A symmetrical bell–shaped curve that represents the distribution of values, frequencies, or probabilities of a set of data. It slopes downward from a point in the middle corresponding to the mean value, or the maximum probability. http://dictionary.com/browse/bell-curve

    The curve affects us all. In purchasing real estate, it’s something to consider yet it’s rarely, if ever, spoken about or taught on.

    When looking at the bell curve, and relating to the definition, what we see, in a “set of data” relating to real estate sales, is the “distribution of values, frequencies, or probabilities of a set of data”. In other words… what size, price, and how quickly homes are selling the most as it relates to a geographic area. We might consider that area to be within an entire Nation, or State but for the investor or home buyer who is going to live in their home, I recommend that they stay hyper local. Sometimes that area can be a whole city, other times it can be a section of a city to stay with the hyper local thought process.

    Why is that data important to a home buyer?

    This strategy helps protect the owner from market fluctuation because no matter where we are, in the market cycle, you have the bulk of the buyers that are out there shopping. That’s because you bought where most buyers were buying.  As you’ll see, in the video below, buying in the top of the bell (where most of the sales occur) will ensure you have more people to sell to, when you want or need to sell… no matter where the market is in its’ cycle. Explore how the market cycles, in this post.

    Do you want some personal help with your home search? Help in areas like:

    • Home Buying Coaching
    • Home Buying Education
    • Help with the actual process of buying a home
    • Help developing a plan to know what to do first and each successive step

    Start by booking a strategy session with Craig, below:

    https://calendly.com/csyace/phoneconsult

  • in Blogs

    New Car or Bigger House? The Choice is Yours

    120k Views

    Car commercials are so alluring; you know the ones, happy drivers accelerating around the curves with the wind in their hair and not a care in the world. It’s tough to head out to the garage and see your car with the slight ding in the door and stain on that seat.

    You want the new car but if you are considering a new home purchase, think twice; just a small amount of recurring debt can make a huge impact on your ability to qualify for a home loan.

    Most people are aware that lenders consider income and debt when qualifying a borrower for a home loan. In addition to credit history, demonstrating the ability to pay is a critical component in the qualifying process. But just because you feel you can afford that new car payment does not mean the lender will agree. Lending guidelines use debt-to-income ratios to determine the amount of mortgage a borrower can obtain, and these ratios are more conservative than most people think.

    While lending guidelines vary slightly from program to program, most common ratios allow the borrower to use up to 31% of their gross income for their mortgage payment, including taxes and insurance. In addition, lenders want to see no more than 39% of your total gross income for all of your expenses. This includes recurring debts such as your car, credit cards, and installment loans…anything that cannot be quickly changed. A new car or boat payment of $500-600/month can reduce the amount of home loan by $100,000.

    What!? A $500 to $600 dollar payment will reduce your qualification by $100,000?? Next time you’re shopping online (for a house or a home) just think… if you’re qualified for the $400,000 house but you like the $500,000 houses you might want to dump that car payment!

    When you consider that a home is an appreciating asset V.S. the car, or even a boat, atv’s, or R.V.’s  which which are depreciating asset (if you can even call it an asset), you can see the financial benefit of spending as much as you can of your monthly income for your home.

    Buying a home is a financial investment in your future. Each mortgage payment not only helps you build equity, but as property values increase, your home is also one of the best appreciating assets you can own.

    Yes, that slick sports care is beautiful, but before you drive it off the lot, consider if that $100,000 might be better used for a larger home with a pool.

    If you want to find out how much house you can afford and, even develop a plan to get you into a home. To schedule an appointment with me Click Here To Book A 15 Minute Phone Consult

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