|
|
www.SunilSethi.com |
|
|
Real Estate & Mortgage Loan Specialist |
||
|
April 2005 |
|
|
Another April 15 has come and
gone, I suspect that more and more of you are now falling into AMT (Alternative Minimum Tax).
Therefore now would be a good time to examine the preference items on your
2004 IRS Form 6251 to see if there’s anything you want to do differently to
minimize your AMT in 2005. I suspect managing your property tax and state tax
payments will be the most important items. Best regards, Sunil Sethi |
|
|
||||||||||||||||||||||||||||||||||||
|
This last week the newspapers have
been filled with articles about unprecedented rates of home flipping (see chart below), and
percentage of homes bought as investment being as high as 9-20% of all sales
in a community. According to TURNING
THEM OVER Average monthly
``flipping'' activity -- that is, percentage of homes sold that had been
bought less than six months earlier.
Source:DataQuick Information Systems |
|
|||||||||||||||||||||||||||||||||||
|
Time for a SMARF Martini |
|
|
|
Since I get so many requests for
it, here’s the recipe again for SMARF Martini. 1 part gin ½ Triple Sec ¼ sweeten Lime Juice ¾ margarita mix Remember to serve it shaken not
stirred with ice then strain into your best martini glass. |
|
Interest Rates |
|
|
Interest rates have dropped from their recent high about 3 weeks
ago for a number of reasons: lower inflation fears, lower job growth than
expected, lower GDP growth than expected, and higher
oil prices. However don’t expect the FED to drop it’s
planned rate increases for this year. The next FOMC meeting will be
on May 2. It is expected that the Board will increase the Fed Funds rate by
another .25% at that time and correspondingly the prime rate will increase to
6.00%%. It’s expected that the Fed will continue the their .25% increases for
the remaining 6 times they meet this year (so that we can expect to see the
prime move to 7.25% by the end of the year). Lesson on 2nd Loans There are two types:
Lately I’ve seen more activity with
clients interested in taking advantage of the increase in home prices to move
some or all of their existing 2nd loans into their first loan or to move to a
fixed rate 2nd. If you would like to run the numbers please give me a call. |
|
|
Real Estate
Investment Club – |
|||||||||||||||||||
|
|
Please let me know if you plan to
attend so I can look for you. All meetings start at Calendar of Events
|
||||||||||||||||||
|
Property Taxes |
|
|
It would be a good idea to confirm your second installment of
properties was received on time. Click here to get to
the county assessor’s website. The tax bill for the next year will be mailed out the last week
of October, and becomes due Nov. 1 and late if not received by Dec. 10. |
|
|
Maps and Directions –
Google Maps |
|
|
|
Google’s new map service out does the competition with the
clarity of their maps, and their satellite
view will show you exactly what you’ll see on your drive there. Trying
the driving directions feature, I
guarantee you’ll be amazed. Now if
only they could bring satellite view to car GPS receivers, then we’d never
miss a turn. Finally, try yellow pages
feature by typing “restaurants near 38350 |
|
Home Maintenance Tip – Gutter
and Chimney Service |
|
|
The rains may have
stopped so now may be a good time to get those gutters cleaned. Gutters need
to be cleaned about every 3 years. Herzog’s Gutter and Chimney Service is
offering my clients a 15% discount on any
gutter or chimney work ordered by |
Save |
|
|