FrontDoor.com's Top 10 Tax Tips for Homeowners

Some of the best perks of owning a home are the tax breaks. Know what expenses you can deduct, and understand how new laws affect you. If you're currently renting, consider the tax advantages of homeownership. This may be the time to buy a home. Remember to consult your tax advisor.

1. Deduct mortgage interest and real estate taxes.
   Interest paid on home loans is deductible up to $1 million for a principal residence plus a second home. Property taxes on all real estate are fully deductible. 
   Mortgage interest and real estate taxes are deductible

2. If you bought a home this year, deduct any money paid toward points or origination fees. You cannot deduct closing costs.
   Points paid on a new mortgage loan for the purchase or improvement of a principal residence are deductible for the year in which they were paid.
   Tax deductions for first-year home owners

3. If you refinanced your mortgage this year or took out a loan to buy a second home or investment property, deduct any points you paid equally over the life of the loan.
   Any points paid on a refinanced mortgage or a loan to purchase a second home or income property must be spread over the life of the loan. Some exceptions apply.
   How to deduct points from a refinanced mortgage or loan for a second home

4. Deduct private mortgage insurance (PMI).
   Taxpayers with adjusted gross income of $100,000 or less can fully deduct premiums for private mortgage insurance (PMI). The deduction is allowable only for insurance on loans that were originated after Dec. 31, 2006, and before Jan. 1, 2011.
   Deduct PMI from taxes

5. If you moved 50 miles or more for a new job, deduct moving expenses. 
   If you relocated for a new full-time job at least 50 miles away from your previous home, you can deduct the cost of packing, transporting or storing your household goods.
   Tax deductible moving expenses

6. If you sold your house this year, see if you're subject to a capital gains tax.
   If the profit you received from the sale of your house is under $500,000 for married couples or $250,000 for single owners, you are exempt from the capital gains tax. 
   Sellers could be exempt from Capital Gains tax

7. Home improvements and mortgage closing costs are not tax deductible. But, when you sell your house, they can be used to offset your capital gains tax burden, should you have one.
   Keep all receipts of permanent home improvements and mortgage closing costs so they can be figured into the adjusted cost basis of your home when you go to sell.
   Remodel your way to tax deductions

8. If you did a short sale this year, the debt forgiven by your lender can be excluded from your taxable income.
   Thanks to a new law, you can exclude debt up to $2 million if it was discharged by the lender in 2007, 2008 or 2009.
   Learn how forgiven mortgage debt can be excluded from taxable income

9. Take advantage of energy efficiency tax credits.
   Going green is good for the environment and your wallet. You can qualify for a tax credit with documentation of energy efficient updates to your home. 
   Go green to save green

10. If your home was damaged from a sudden, unexpected event, such as a natural disaster, fire, vandalism, or theft, deduct some of the loss.
    You may deduct all expenses not covered by your homeowner's insurance, minus a $100 deductible and 10 percent of your adjusted gross income. 
    Get tax relief after a natural disaster or theft
    

http://www.frontdoor.com/Buy/FrontDoor-dot-coms-Top-10-Tax-Tips-for-Homeowners/1369/

By FrontDoor.com | Published: 3/14/2008

Regan + Sandy playing Wii

via OpenBeak

Top 10 Rules for Staging Homes from The Stagers

1. Grab them from the curb.
You've seen them. Buyers hunkered low in their cars in front of your house, doing drive-bys before deciding whether to request a showing or attend an open house. Make these potential buyers fall in love with your home from the street by adding potted plants and flowers, power-washing patios and walkways, weeding the garden and mowing the lawn. It's your first chance to make a good impression, so you've got to make it count.

2. Make it sparkle.
Pretend that your mother or mother-in-law is coming for a visit. Think hotel clean. Mop, dust, vacuum, wash windows, baseboards — even the cat. Remember that people will look in your cupboards, under your sinks and in your closets. Also, pay particular attention to odors. You might even consider consulting a neutral nose by having a friend come by for a smell test.

3. Pay attention to color and light.
You may love hot pink in the living room, but too-bright colors turn buyers off. Neutralize strong colors for the broadest appeal. A neutral home appears larger and has less chance of offending someone. Also, open up blinds and draperies to make sure there's sufficient natural light throughout the home. Remember, lighting is the most effective way to set a mood.

4. Depersonalize.
Few things deter buyers more than a cluttered home. They need to see your home, not your stuff. Excessive personal items like photos, collections, personal awards, electronics and collectibles will make it difficult for buyers to see past your personal style and may deter a sale. Taking yourself out of the picture makes it easier for buyers to imagine themselves, and their stuff, in your space.

5. Consider replacing furnishings.
Think about removing or replacing worn or outdated furnishings and get rid of extra pieces. The time has come to move beyond matching furniture, so break up your sets; dated can easily become eclectic with editing and rearranging. Consider consulting with a professional staging company for design direction and advice on rental furnishings to create an inviting home with broad appeal to a wide range of buyers.

6. Invest in new artwork.
Displaying new artwork is a great way to breathe new life into a room. Photography can be used to contemporize a room and add a splash of color as well.

7. Make repairs.
Make your home a high-maintenance zone. Repair squeaky doors, chipped or smudged paint as well as broken fixtures and fittings that you've neglected.

Not only can an area rug hide shabby flooring, but it can also bring in added color and depth to a space.

8. Apply a fresh coat of paint.
It's the best bang for your buck that will quickly refresh a dull, dated room. Slap a fresh, neutral color on the space. Choose a beige or taupe for living spaces and a neutral green or blue for bathrooms.

9. Don't forget the floors.
Get rid of worn carpets, and consider refinishing shabby hardwood floors. An inexpensive new area rug is a quick fix and can disguise the look of old floors.

10. Spring for new light fixtures.
Renew the look of the room by replacing old or dated light fixtures, door hardware, light switches and outlets. If it's tacky and older than you, get it out of there.

 

 

-http://www.hgtv.com/real-estate/top-10-rules-of-staging-from-the-stagers/index.html

Top 10 Home Buying Mistakes That Can Cost You

Mistake #10: Not getting pre-approved before house hunting

Why get your hopes up looking at $500,000 homes, when you can really only afford a $300,000 home? Before you start house hunting, narrow down your price range by getting pre-approved. Shop for a lender or mortgage broker you can trust. The mortgage pro will review your credit, income, assets and debts, and recommend a mortgage with monthly payments that fit your budget. The result is a good faith estimate, a document that spells out the likely terms of your loan, including the interest rate and closing costs. Not only does this let you know how much house you can afford, it also lets sellers know that you're serious about buying.

  

 

Mistake #9: Thinking short-term

The house you purchase should be a place that feels like home to you and your family, but it's important to remember that it's also a huge investment. When shopping for a home, it pays to think about resale down the road. Search for homes in sought-after locations, and look for features that future buyers will want, such as central air conditioning and lots of storage space.

  

 

Mistake #8: Not researching the neighborhood

What good is having your dream home, if you don't like the community where it's located? Before shopping for a home, shop for a neighborhood. Make sure it's a good fit for your lifestyle -- figure out how long you want your work commute to be, how close you want to be to amenities like shopping and nightlife, and which school districts are the best. Even if you don't have children, living near good schools raises your property value. Visit the neighborhood several times and at different times of the day. The biggest incentive for finding a quality community: a great neighborhood will increase your home's value, while a bad one will drag it down.

  

 

Mistake #7: Buying a foreclosure or fixer-upper without doing your research

Some homebuyers are so set on finding a bargain, they overlook the fact that buying a home that needs repairs can be a stressful and expensive endeavor. Before buying a fixer-upper, get estimates on any necessary repairs and renovations and make sure they will pay for themselves in increased property value. The foreclosure market is also full of opportunities, but it's important to be aware of the potential pitfalls before buying a foreclosed property.

  

 

Mistake #6: Buying a house you can't afford

Just because a lender is willing to loan you a fortune doesn't mean you should take it. Buying more home than you can afford can quickly lead to financial trouble. As a rule of thumb, your mortgage payment should be less than 28 percent of your gross monthly income. Besides your mortgage payment, be prepared for the additional costs of homeownership, such as insurance, property taxes, utilities and maintenance. You may want to scale back the size of the home you're looking for in order to bring the whole package in line with your budget.



Mistake #5: Falling for love at first sight

Buying the first house you like is kind of like marrying the first person you go on a date with: not necessarily a good idea. If you don't shop around and see what else is out there, you could miss out on a good deal or potentially regret your purchase. While you don't need to visit every home in the neighborhood, you should compare at least three homes before you make a decision to ensure that you're getting the right house at the right price.



Mistake #4: Forgoing a home inspection

Even if a home looks flawless, it's a mistake to assume that it's actually problem-free. All homes have defects -- even brand new ones -- so getting a professional inspection before making the commitment to buy is crucial. Be sure to attend the inspection so the inspector can explain any issues.



Mistake #3: Not reading the fine print

If you did your homework, you had your trustworthy real estate attorney review all your paperwork and discuss it with you so you don't get a nasty surprise at closing. Let's face it -- you won't have time to read that six-inch stack of legal documents at the closing table. Fortunately, there are a select few documents and items that are truly critical, and you can request a copy of these in advance. This gives you time to review them and ask questions before closing.



Mistake #2: Making an offer without contingencies

Having a back-out plan is a must for smart home buying. If the home has an irresolvable flaw, it doesn't appraise for the purchase price, or your lender refuses to fund your loan, having contingencies on your contract gives you the right to cancel the transaction. Think about it this way: would you spend $100 in a store that doesn't have a 30-day return policy? If your answer is no, you wouldn't want to put hundreds of thousands of dollars on the line without the right to bail.



Mistake #1: Waiting for the market to improve or not buying at all

No one can predict precisely where the market is going, so trying to time your home purchase with the bottom of the market is futile. If you're financially and emotionally ready to be a homeowner, it's always a good time to buy. Just think: all the time you spend procrastinating on purchasing a home, you could be building equity, getting tax deductions and enjoying the many other benefits of homeownership!

 

Winnipeg MLS Sales set new record - Press Release from Winnipeg Real Estate Board.

Election debacle has Haiti again near turmoil

PORT-AU-PRINCE, Haiti (AP) — Haitians entered election day hoping for the best. Within hours, ballot boxes were ripped to pieces, protesters were on the streets and nearly every presidential hopeful was united against the government.

Add it to Haiti's list: Already reeling from a catastrophic earthquake, one of the world's poorest economies, storms, a deadly cholera epidemic and unrest over U.N. peacekeepers, the Caribbean nation could now be on the edge of full-on political turmoil.

The chaos in Sunday's voting united most of the top presidential candidates against the president's heir apparent — Jude Celestin, head of the state-run construction company and beneficiary of a well-financed campaign.

Allegations ranging from outright fraud to polling-place disorganization that disenfranchised many Haitians nearly brought the election to a halt. Polling places opened late, voters could not find their names on lists, and some polling places were ransacked by thugs.

The United Nations cited "numerous incidents that marred the elections." Observers from the Organization of American States canceled an afternoon news conference, releasing a statement hours later that they were "in the process of evaluating and analyzing the information gathered."

The discontent boiled into a potential political crisis at about 2 p.m., when 12 of the 19 presidential candidates — including nearly every major contender — gathered in a hotel ballroom to join hands, denounce President Rene Preval and call for the election to be canceled.

"It is clear that the government of Rene Preval, in agreement with the (electoral council), is putting into execution the plan hatched to tamper with the elections ... with the help of the official political party and its candidate, Jude Celestin," independent candidate Anne Marie Josette Bijou read aloud.

The other candidates joined the crowd in applause. The crowd, which had burst into Haiti's national anthem when the candidates arrived, chanted "Arrest Preval!"

Protesters took to the streets, and demonstrations demanding the balloted be nullified stretched into the night. Crowds surged through the streets carrying tree branches and campaign posters, decrying the vote and jubilantly claiming victory for their candidates.

The Haitian government had no immediate response to the criticism.

But the electoral council held an evening news conference to say the candidates' protest had no legal weight. It said there had been irregularities at only 56 of nearly 1,500 voting centers, but did not explain how it arrived at that figure.

"If they declare that one of these candidates won, are they going to say they don't want to be elected?" council official Pierre Louis Opont mused after a fifth Haitian reporter asked the officials to respond to the presidential candidates' appeal.

Results were not likely until Dec. 7, and run-offs were expected for the presidential and nearly all senatorial and parliamentary races.

Some polls and election observers said opposition candidates appeared to be doing well in the contest with Celestin. The strongest appeared to be Mirlande Manigat, 70-year-old former first lady whose husband was helped to power and then deposed by a military junta; popular musician Michel "Sweet Micky" Martelly and Jean-Henry Ceant, a lawyer with backing from supporters of exiled ex-President Jean-Bertrand Aristide's disqualified Fanmi Lavalas party.

On Sunday afternoon they and nine of their ostensible rivals joined hands in triumph as they accused Preval of conspiring to "perpetuate his power and keep the people hostage to continue their misery."

The biggest problem in Sunday's vote appeared to be confusion. Many voters had no idea where to vote, while others arrived at polling stations to find that their names were not on the rolls. Some found their names on one list, outside a voting-room door for instance, only to find that they were not on the list inside.

"I have been here since six in the morning and I can't find my name on the register. I have had my (voting) card since 2006. I am going home," said Derissaint Dor, a 57-year-old resident of the capital.

There were also reports of violence and intimidation, claims of stolen ballot boxes and allegations of ballot-stuffing.

Haitian radio reported one man was shot to death at a polling place in rural Artibonite. Electoral officials said another was killed in southern Haiti.

In the town of Grande Riu Du Nord, about 12 miles (20 kilometers) east of Cap-Haitien, youths sacked a polling station and scattered thousands of ballots. Photos obtained by the AP showed that some of the ballots apparently had been filled out. More were burned in a road. The motives in the attack were unknown.

At another voting place in the St. Philomene neighborhood, a woman complained that young men were taking advantage of the chaos to vote multiple times. The allegation could not be confirmed because a crowd of one candidate's supporters swarmed around two AP journalists and forced them to leave the area, threatening a photographer.

The protest by many of the president contenders threw the entire election into question.

Though the electoral council insisted that all will proceed normally, demonstrators will not likely accept results quietly, especially if they favor the government's candidate.

Representatives of Haiti's major international donors, including the ambassadors of the U.S., Canada, France and the European Union, met after the candidates' declaration to discuss the situation, said Organization of American States Assistant Secretary-General Albert Ramdin, who is in Haiti to monitor the elections.

"We are all concerned about the possibility of violence because we don't want to see people lose lives in a process that should be democratic," Ramdin said.

Tensions are already high following a series of deadly clashes earlier this month between U.N. peacekeepers and demonstrators who suspected them of being the source of the rapidly spreading cholera outbreak.

At stake in the election is the post-quake reconstruction project. The next president is expected to oversee billions in promised rebuilding aid, and would have veto power over the commission co-chaired by former U.S. President Bill Clinton and the current prime minister. Clinton is also trying to encourage foreign investment in tourism, agriculture and other areas.

Most of that money, however, is contingent on the Haitian government being certified as a good, stable and non-corrupt partner.

Gunfire was heard in some sectors overnight, but Monday morning was quiet as people waited to hear what their leaders and potential leaders would say.

Associated Press writers Jonathan M. Katz reported this story in Port-au-Prince and Ben Fox in Cap-Haitien. AP writer Jacob Kushner in Port-au-Prince contributed to this report.

http://www.google.com/hostednews/ap/article/ALeqM5gwTTFMZFpdWBkKRP1PuetGWDreDw?docId=128745703e4042d9ad611b9abb752d8d

Motivation, Open The Door

"I knocked and the door opened. But I found that I had been knocking from the inside and I could have opened the door for myself." –Tehuti
Many moons ago, do you remember people asking you, "What do you want to be when you grow up?"
Do you remember how easily and confidently you would have responded? Most would have answered that question eagerly and they would have said whatever came to mind.
Doubts and limitations were non-existent. You knew that you could do anything you wanted to do, didn’t you? You didn’t need anybody’s approval or permission.
You knew you could cause things to happen by taking action. Psychologist Richard DeCharms called this phenomenon personal causation.
Personal causation is the initiation of behavior intended to produce a change in an individual’s environment.
After a certain age practically everyone begins to lose his or her sense of personal causation. In other words our sense of self-efficacy is undermined. Undermined by what?
Statements such as:
This is too hard
This costs too much
I’m not good enough
They don’t want me to succeed anyway
If only I had as much money as so and so
I don’t have that kind of luck
I don’t have the right looks
Don’t quit your day job
Just be grateful that you have a job at all
This is too good to be true
Statements like those are the roots of a “lack” mentality and a poverty consciousness.
A Million Dollar Question: Do you believe that you are reading this insight? Is this too good to be true? No, it’s not. It’s happening to the right person- YOU.
It’s a lack mentality and poverty consciousness that leave many people standing there knocking on the door waiting for some one to answer and open it for them.
Sooner or later someone bold, uninhibited, and assertive comes along and stands in front of the same door. But instead of only knocking, he or she reaches for the doorknob, turns it, and walks in. That person could be you.
The door closes behind him or her and the people left standing there start knocking again. They talk and complain amongst themselves about how some people get all the breaks.
They ask ridiculous questions like, "How come he’s so lucky?" or "I wonder who she knows. Who gave her permission to go in?"
These people never realize that you don’t need permission, you need initiative. You don’t get a break; you create breaks.
To be self-empowered is to be responsible.
Be responsible for your actions.
Be responsible for your finances.
Be responsible for your well-being.
Be responsible for your future.
My friend, whatever door you are knocking on realize the doorknob is within reach. 
Just turn it and step into greatness.

http://pillartopost.com/postnotes/postNotes-pillarToPost-newsletter-nov-2010.aspx