Entries from Searchlight Crusade tagged with 'taxes'

Down Payment At Purchase or Wait Until Later To Pay The Mortgage Down?

Got a search engine hit for do I make a big down payment on a home or should make a lump sum payment after the mortgage It's hard to construct a scenario where using it as "purchase money" doesn't come...

Negative Amortization Loan Issues on Investment Property

Read your article on negative arm loans, and for the person who only owns a residence and most real estate investors it will not work. I own several properties, and the parcel to be refinanced is ocean front...so is...

Discovering an Unpermitted Addition After You Buy

I just came across your article on unpermitted additions. I am having a really difficult time. We own a home in DELETED that we bought in 2006. It was listed as a 3/2 1400 sqft. We are now trying...

Weighted Average Cost of Capital Doesn't Include Everything

Or: Figures don't lie, but Liars Sure do Figure! NOTE: At this update, rates on first trust deed loans are about as low as they have ever been while rates on second mortgages aren't particularly low. However, that won't...

Prorated Property Taxes

January first and July first mark turning points in the year for California real estate, as property taxes are collected for a period running from July 1 through June 30. They are paid in two installments, the first due due...

Unpaid Property Taxes That Should Have Been Paid Through Escrow

my prorated property taxes came were paid at closing but now I'm getting a delinquent tax bill You mean they were supposed to be paid at closing. There are two major possibilities: 1) They were not, in fact, paid...

Refinancing Does Not Cause Your Property Taxes To Go Up

do your property taxes go up in California when you refinance your property? This is one of those urban legends. People are concerned that because the house is appraised by the lender, the assessor is somehow going to find...

Short Sales of Real Estate, aka Short Payoffs

A while ago I wrote an article called, "What Happens When You Can't Make Your Real Estate Loan Payment." This is kind of a continuation of that, as I got a search that asked, "What is necessary to persuade a...

The Basics of 1031 Exchanges

Section 1031 of the IRS Code has to to with tax treatment on the exchange of one parcel of real estate for another. It's similar to Section 1035 which covers most non real estate exchanges. Car for a car. Boat...

Buying and Selling Properties with Unpermitted Additions

Unpermitted additions are popular in California because of property tax implications. You see, due to Proposition 13 back in 1978, taxable assessments are based upon purchase price plus no more than 2% per year since acquisition (although if you...

Fear and Greed, or How Did The Housing Bubble Get So Big?

(This was originally written February 16, 2006, but it's relevant still) One of the occasional questions I get from people has to do with why the housing bubble got so big (or if you're one of those still in denial...

Title Insurance, Unpaid Liens After The Sale, and Subrogation

I sold my house in (state) in august 2001 I hired a title attorney whose (local company X) acted as a agent for (national company Y). The facts are that there were errors and omissions which led to negligence...

Impound Accounts Facts and FAQs

I've seen a fair number of questions on impound accounts in the last several months. An impound account, also known by the confusing term escrow account because the lender is holding it in escrow, is money that you give the...

Short Sale Negotiators and the Interests of Potential Buyers

I am seeing a very disturbing trend these past few months. Rather than do the work they should be doing, listing agents are treating the entire short sale process as a kind of "Black Box", delegating the negotiations with the...

Seller's Failure to Disclose a Pending Assessment

I am about to close on a condo unit. At the last minute, we received the resale document from the management company. All units are being assessed a one time charge of $3000 due in full Nov. 1 for roof...

Good Intentions and Over-Extended Homeowners

(I do use one piece of non G-rated language below. I hope you'll agree with me that it was necessary to convey the proper sentiment) USA Today had an oped, "3 ways to help borrowers without bailing them out" Their...

Short Sale Negotiators and the Interests of Potential Buyers

I am seeing a very disturbing trend these past few months. Rather than do the work they should be doing, listing agents are treating the entire short sale process as a kind of "Black Box", delegating the negotiations with the...

Killing the Goose That Lays The Golden Eggs - And All of Its Descendants

(expletive) unbelievable. Or rather, should I say, all too believable: House Democrats Contemplate Abolishing 401(k) Tax Breaks Words fail, but I'm going to try anyway: Do you have any idea how much of a difference for the worse it...

Buying and Selling Properties with Unpermitted Additions

Unpermitted additions are popular in California because of property tax implications. You see, due to Proposition 13 back in 1978, taxable assessments are based upon purchase price plus no more than 2% per year since acquisition (although if you...

Seller's Failure to Disclose a Pending Assessment

I am about to close on a condo unit. At the last minute, we received the resale document from the management company. All units are being assessed a one time charge of $3000 due in full Nov. 1 for roof...