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3 Overlooked Tax Breaks Your Home May Be Able To Cash In On

Minimize what you'll owe and maximize what you'll get back at tax time.

To ensure you're not missing out on any hefty tax breaks, consider these three common home–related tax breaks that are often missed, overlooked, and underused.

State and local tax breaks for green home improvements. homeowners have taken steps to improve their home's energy efficiency.Many of those improvements are eligible for state, county, and/or city tax credits -- or tax breaks. If you've installed dual-paned windows, insulation, low-flow plumbing appliances, tankless water heaters, or solar panels last year, dig up your receipts.

Mortgage interest tax break Many homebuyers expressly call out the mortgage interest tax deduction as a major motivation behind their desire to own a home. The ability to write off interest on up to $1 million of mortgage debt shifts the affordability equation

COD tax exemptions Normally, defaulted mortgage debt that is forgiven through a foreclosure, short sale, deed in lieu of foreclosure, or settlement via partial payment is actually charged to a taxpayer as income. It's called cancellation of debt, or COD.

So with that in mind maybe you want to turn your savings into a new home in Taos or Angel Fire. Are you looking to sell your Angel Fire or Taos property call on us. We are dedicated to bringing you the best in real estate in the Enchanted Circle. If buying or selling Angel Fire property call us at (575) 377-2626. Maybe you want the perfect Taos get away to fuel your artistic side call us at (575) 758-5852. We have lots and larger parcels for sale in Taos and Angel Fire to build your "Dream Home". To speak directly to a broker call Paula at (575) 770-3306. We are here to welcome you to our growing community.

Information obtained from Trulia

3 Overlooked Tax Breaks Your Home May Be Able To Cash In On

Minimize what you'll owe and maximize what you'll get back at tax time.

To ensure you're not missing out on any hefty tax breaks, consider these three common home–related tax breaks that are often missed, overlooked, and underused.

State and local tax breaks for green home improvements. homeowners have taken steps to improve their home's energy efficiency.Many of those improvements are eligible for state, county, and/or city tax credits -- or tax breaks. If you've installed dual-paned windows, insulation, low-flow plumbing appliances, tankless water heaters, or solar panels last year, dig up your receipts.

Mortgage interest tax break Many homebuyers expressly call out the mortgage interest tax deduction as a major motivation behind their desire to own a home. The ability to write off interest on up to $1 million of mortgage debt shifts the affordability equation

COD tax exemptions Normally, defaulted mortgage debt that is forgiven through a foreclosure, short sale, deed in lieu of foreclosure, or settlement via partial payment is actually charged to a taxpayer as income. It's called cancellation of debt, or COD.

So with that in mind maybe you want to turn your savings into a new home in Taos or Angel Fire. Are you looking to sell your Angel Fire or Taos property call on us. We are dedicated to bringing you the best in real estate in the Enchanted Circle. If buying or selling Angel Fire property call us at (575) 377-2626. Maybe you want the perfect Taos get away to fuel your artistic side call us at (575) 758-5852. We have lots and larger parcels for sale in Taos and Angel Fire to build your "Dream Home". To speak directly to a broker call Paula at (575) 770-3306. We are here to welcome you to our growing community.

Home Buyers Get a Rare Price Break on Mortgage Insurance Premiums

It's good to hear that some home buyers will finally get a break. Mortgage insurance premiums are slated to go down by 0.25% on Federal Housing Administration–insured loans that close on or after Jan. 27, the agency announced on Monday. (Buyers who don't put down at least 20% on their homes are typically required to pay the monthly--and often costly--mortgage insurance.)

A quarter of a percentage point may not sound like much, but it's expected to save new homeowners an average of $500 a year.

So when you are ready to buy a home or condo in Angel Fire or Taos we are here to assist you in all your Real Estate needs in Taos or Angel Fire. Are you looking to build your dream home we have many lots or larger parcels to choose from in Taos and Angel Fire. If you cannot locate the house, condo or land you desire, on our website, you can access the Taos/Angel Fire MLS from our website. We are dedicated to bringing you the best in Real Estate throughout the Enchanted Circle. For your Real Estate needs in Taos call us at (575) 758- 5852.Looking to buy or sell Real Estate in Angel Fire our number is (575)377- 2626. Our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. To speak directly to a broker call Paula at 575-770-3306. We are here to welcome you to our growing community.

Information obtained from Realtor.com

5 Home Upgrades That Won’t Add Value

Just because you upgrade doesn't mean you'll profit when it comes time to sell.

Five common upgrades with the worst return on investment

Adding a pool

Highly custom designs

Room conversions

Incremental square footage gains

Over-improving

When your upgrades feel overboard for your neighborhood, you alienate buyers on two fronts: buyers who are drawn to your neighborhood won't be able to afford your home, and buyers who can afford a home of your caliber will prefer to be in a ritzier area.Being a little nicer than the other houses around you can be a selling point, but being vastly more luxurious is not.

So when you are ready to sell or buy a home or condo in Angel Fire or Taos we are here to assist you in all your Real Estate needs . Are you looking to build your dream home we have many lots or larger parcels to choose from in Taos and Angel Fire. If you cannot locate the house, condo or land you desire, on our website, you can access the Taos/Angel Fire MLS from our website. We are dedicated to bringing you the best in Real Estate throughout the Enchanted Circle. For your Real Estate needs in Taos call us at (575) 758- 5852. Looking to buy or sell Real Estate in Angel Fire our number is (575)377- 2626. Our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. To speak directly to a broker call Paula at 575-770-3306. We are here to welcome you to our growing community.

Information obtained from Trulia

Good Morning Veterans and Welcome to Angel Fire

Understanding the truth about VA loans can help homeowners and buyers take advantage of a solid financing option.

Generations of veterans and military members have relied on the VA loan program to achieve the dream of homeownership. Today, this $0 down mortgage option is booming in a time of tight credit. But millions of veterans and military families are still missing out.

This is the most powerful mortgage option on the market for scores of military buyers. Qualified borrowers can purchase up to $417,000 in most parts of the country before having to factor in a down payment. There's no mortgage insurance on VA loans, and they feature more flexible and forgiving requirements than other loan types. This program exists to help get veterans into homes. Sellers should understand it does exactly that, often better than other mortgage options. About 72 percent of the VA purchase applications filed during the summer months went on to close.

This one stems from the sometimes slow-moving VA program of yesteryear. A focus on improving automation and responsiveness has helped VA loans catch up with the field in terms of time to close. The average VA purchase loan closed in 40 days, that's one day longer than conventional, and two days faster on average than FHA financing.

Few aspects of VA loans engender more misconception than the appraisal process. Properties need to meet broad requirements to help ensure veterans are getting move-in-ready homes that are safe, structurally sound and sanitary. Fixer-uppers and foreclosures can be tough for VA financing.

Sellers can pay all of a buyer's loan-related closing costs and up to 4 percent of the purchase price in concessions, which can cover things like prepaid taxes and insurance or paying off collections. But they're not required to pay anything on a buyer's behalf. Confusion comes in because the VA limits what lenders can charge buyers, and there are a few costs they're actually not allowed to pay. But that doesn't mean sellers have to foot the bill. Regardless of the loan type, it's still a real estate transaction -- nearly everything is negotiable.

So when you are ready to buy a home or condo in Angel Fire or Taos we are here to assist you in all your Real Estate needs in Taos or Angel Fire. Are you looking to build your dream home we have many lots or larger parcels to choose from in Taos and Angel Fire. If you cannot locate the house, condo or land you desire, on our website, you can access the Taos/Angel Fire MLS from our website. We are dedicated to bringing you the best in Real Estate throughout the Enchanted Circle. For your Real Estate needs in Taos call us at (575) 758- 5852.Looking to buy or sell Real Estate in Angel Fire our number is (575)377- 2626. Our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. To speak directly to a broker call Paula at 575-770-3306. We are here to serve and welcome you to our growing community.

Information obtained from Trulia

How To Build A Down Payment In 5 Years

Need to save $50,000? Here's how to make it happen.

Build your down payment in five years

You'll need to save about $834 per month to meet this goal. It's still a lot of money but completely doable if you're willing to cut back in places you currently spend. Use the tips from our last two blogs to help you cut costs and free up more cash for your down payment. Consider investing your down payment savings in a taxable brokerage account. But remember, all investments carry risk.

The biggest challenge in saving $834 per month for this length of time is staying focused. To help, create an automatic transfer from your checking to your savings each month so you know that money consistently moves to your down payment fund.

And of course, working on earning more during this time will help too. Just as you would if you shot for the three-year goal, you can work to make lasting, big-impact changes to your earnings. If you're entrepreneurial, that might mean starting something on the side and slowly growing that to a full-time business that generates more revenue than your current gig. The possibilities are endless, and with five years, you have much more time to test different paths and figure out what works best for you.

So when you are ready to buy a home or condo in Angel Fire or Taos we are here to assist you in all your Real Estate needs in Taos or Angel Fire. Are you looking to build your dream home we have many lots or larger parcels to choose from in Taos and Angel Fire. If you cannot locate the house, condo or land you desire, on our website, you can access the Taos/Angel Fire MLS from our website. We are dedicated to bringing you the best in Real Estate throughout the Enchanted Circle. For your Real Estate needs in Taos call us at (575) 758- 5852.Looking to buy or sell Real Estate in Angel Fire our number is (575)377- 2626. Our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. To speak directly to a broker call Paula at 575-770-3306. We are here to serve and welcome you to our growing community.

Information obtained from Trulia

How To Build A Down Payment In 3 Years

Save for a down payment in three years

While it's still an ambitious savings goal (you'll need to save $1,389 per month), your approach won't need to be quite as extreme. However, the basic steps remain the same: Cut unnecessary costs and look to increase your income so you have more cash to save. Here are a few ideas to help you eliminate expenses and immediately save hundreds per month.

Switch to a streaming service

Reduce the number of meals out you buy each week

Eliminate expensive entertainment

Cut back on your vices

Work out at home

Negotiate your bills

Making the changes in this list could save you $455 per month, which means you're down to finding about $1,000 in your cash flow to allocate to your down payment goal. Giving yourself three years also lets you make sustainable and lasting strides with earning more. Every time you earn a raise, get a bonus, or make extra income, contribute it straight to your savings fund for your $50,000 down payment. That will either allow you to reach your goal sooner or require you to cut back less in spending.

Interested in buying or selling Taos or Angel Fire Real Estate we are the company to contact. Maybe Land in Taos or Angel Fire is what you desire we have many lots or larger parcels to choose from. Are you searching for the perfect Angel Fire or Taos Ski Valley condo close to the slopes. We are here to help with all of your Angel Fire or Taos Real Estate needs. Perhaps you are desperate for the perfect Taos condo, house or Earthship to feed your creative side. Call us in Taos at (575) 758-5852 or in Angel Fire call (575) 377-2626 our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. We are dedicated to bringing you the Best Real Estate in the Enchanted Circle. To speak directly to a broker call Paula at 575-770-3306. We are here to serve and welcome you to our growing community.

Information obtained from Trulia

Got Savings? How To Build A Down Payment In 1 Year

A 20% down payment is a great savings goal, but it's also a lot of cash. Let's say you want to buy a home that costs $250,000. You'll need $50,000 in cash to put down. That's no small number. But you can make it happen in the near future. Here's how you can work to build a down payment in one year.

Raise a down payment in one year

To build a savings fund of $50,000 in 12 months will require you to set aside $4,167 per month and take some extreme measures to make it happen. First, look at every single dollar you can cut from your current spending. Here are a few ways to aggressively trim your expenses.

Move in with a friend or family member to slash your rent.

Sell useful but not strictly necessary assets.

Get rid of every nonessential expense, no matter how inexpensive it may feel.

Downgrade essential services for cheaper options.

Perhaps you can reduce your insurance coverage and drop the cost of your monthly premiums. Other places to consider: your cellphone plan and your groceries. Your new rule should be "If I don't need to buy it, I won't." Remember, you need to bank $4,167 every month. Many people's total monthly budgets don't add up to the amount you're trying to save!

In addition to saving, you'll probably need to consider earning more to meet your goal. Take on additional work or get a second job to generate more income. While this might not be sustainable for years, doing so for 12 months could give you the boost you need to save that $50,000.

Interested in buying or selling Taos or Angel Fire Real Estate we are the company to contact. Maybe Land in Taos or Angel Fire is what you desire we have many lots or larger parcels to choose from. Are you searching for the perfect Angel Fire or Taos Ski Valley condo close to the slopes. We are here to help with all of your Angel Fire or Taos Real Estate needs. Perhaps you are desperate for the perfect Taos condo, house or Earthship to feed your creative side. Call us in Taos at (575) 758-5852 or in Angel Fire call (575) 377-2626 our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. We are dedicated to bringing you the Best Real Estate in the Enchanted Circle. To speak directly to a broker call Paula at 575-770-3306. We are here to serve and welcome you to our growing community.

Information obtained from Trulia

Home Shopping During Winter: What You Need to Know

If you're a buyer looking in a part of the country where you may not see a home's front lawn until May, keep these points in mind as you shop.

Seeing a home at its worst is a plus

Let's face it, no home shows at its best in the middle of the winter. It's cold, dark and often wet. And that's great news for the buyer. Why? Because you can discover its flaws, such as a lack of privacy, abundant street noise, leaks or drafty windows. You'll see the home in its worst "light". Come spring, the flowers, grass, landscaping and foliage will only enhance the home.

You can ask to see summer or fall photos

What about features you"re unable to test?

request that they leave money in escrow or extend the closing time frame. When warm weather returns, you can inspect them then.

Documentation can help alleviate uncertainties

In the event you can't inspect every feature or get escrow funds negotiated, ask for documentation.

It doesn't hurt to ask Although homes sell all year-round, it takes a determined customer to trek through the snow and ice to initiate a real estate transaction. For the right house, a winter purchase could spell opportunity. Double up on due diligence, and don't be afraid to ask for a longer closing or to arrange to have the home inspected come spring.

Everything is negotiable, so smart buyers should protect themselves.

Interested in buying or selling Taos or Angel Fire Real Estate we are the company to contact. Maybe Land in Taos or Angel Fire is what you desire we have many lots or larger parcels to choose from. Are you searching for the perfect Angel Fire or Taos Ski Valley condo close to the slopes. We are here to help with all of your Angel Fire or Taos Real Estate needs. Perhaps you are desperate for the perfect Taos condo, house or Earthship to feed your creative side. Call us in Taos at (575) 758-5852 or in Angel Fire call (575) 377-2626 our warm and inviting staff of knowledgeable agents go that extra mile to find exactly what you desire. We are dedicated to bringing you the Best Real Estate in the Enchanted Circle. To speak directly to a broker call Paula at 575-770-3306. We are here to serve and welcome you to our growing community.

4 Tips for Selling Your Home in the Winter

Be sure the home is easily accessible

If there is snow or an ice storm, clear the driveway, sidewalk and any pathways on which potential buyers may walk. If there are back steps, don't forget to clear those, too.

Keep the heat on

There is nothing worse than walking into a cold home. It's not warm or inviting, and that affects the buyer's senses. A chilly reception ensures their first impression is not a good one. If you have an upcoming showing, be sure the heat is on and the house is warm and cozy.

Show off your winter wonders

If you have a fireplace in your home, there is no better time to show it off than the winter months. Buyers love walking into an open house where there is a fire going. It adds to the ambiance and provides a comforting feeling. Keep the kindling and logs loaded up at all times.

Let buyers see your outside attributes

In the warmer months, it's not uncommon for buyers to step out on the deck, down into the yard and into the landscaping. They will want to see the outdoor space and get a feel for the lot and the land. Although in winter buyers may be less likely to tour the grounds, they will still want to know what's there.

Interested in buying or selling Taos or Angel Fire Real Estate we are the company to contact. Maybe Land in Taos or Angel Fire is what you desire we have many lots or larger parcels to choose from. Are you searching for the perfect Angel Fire or Taos Ski Valley condo close to the slopes? We are here to help with all of your Angel Fire or Taos Real Estate needs. Perhaps you are desperate for the perfect Taos condo, house or Earthship to feed your creative side. Call us in Taos at (575) 758-5852 or in Angel Fire call (575) 377-2626 our warm and inviting staff of dedicated knowledgeable agents go that extra mile to find exactly what you desire. To speak directly to a broker call Paula at 575-770-3306. We are here to serve and welcome you to our growing community.

Information Obtained From Zillow

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