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Chris 208-201-2034
Buying and Selling homes in Eastern Idaho made simple.
21 March 2011
18 February 2011
WHY HOME OWNERSHIP MATTERS!
A great reminder of the benefits of homeownership that we don't always consider. From the National Association of REALTORS®.
TO PEOPLE…
For these reasons and more, home ownership is the American Dream!
As REALTORS®, we know all this. But not everyone does. So spread the word: Home Ownership Matters!
- Home owners are happier and healthier and enjoy a greater feeling of control over their lives.
- Owning a home is one of the best ways to build long-term wealth. Historically, a home owner’s net worth has ranged from 31 to 46 times that of a renter.
- Home owners are free to redecorate, renovate, and modify their homes as they wish.
- Most home owners enjoy stable housing costs—a fixed-rate mortgage payment might not change for 15 to 30 years while rent typically increases 3% a year.
- Home owners can typically deduct mortgage interest and property taxes on their federal individual income tax return.
- People who own homes vote more, volunteer more and contribute moreto their neighborhoods.
- Home owners do not move as frequently as renters, providing more neighborhood stability. In turn, this stability helps reduce crime and supports neighborhood upkeep.
- Children of home owners do better in school, stay in school longer, are more likely to participate in organized activities and spend less time in front of the television.
- 67% of American households are owner-occupied. America is a nation of home owners.
- Home owners pay 80 to 90% of federal individual income taxes, contributing to federal programs that benefit all Americans.
- Every home purchased pumps $60,000 into the economy for furniture, home improvements and related items.
- Housing accounts for more than 15% of the national Gross Domestic Product, a key driver of our national economy.
As REALTORS®, we know all this. But not everyone does. So spread the word: Home Ownership Matters!
For more information and data on the points above, see www.REALTOR.org/Homeownership
03 January 2011
Get the REAL Facts on Mortgage Interest Deductions in Idaho
Interesting reading from the Ada County Association of REALTORS®.
Of the approximately 399,498 owner-occupied houses in Idaho in 2009, 278,102 or 70% had a mortgage.
In 2008, 194,063 taxpayers in Idaho claimed a deduction for mortgage interest. The total amount deducted was $2,054,503,000. This means that the average taxpayer claiming the MID deducted $10,587 from taxable income in 2008.
At a marginal rate of 25 percent1, this means that the average taxpayer saved $2,647 in taxes as a result of the MID. The total tax savings from the MID in Idaho in 2008 was $513,625,750.
In 2008, 209,237 taxpayers in Idaho claimed a deduction for real estate taxes. The total amount deducted was $428,709,000. This means that the average taxpayer claiming the real estate tax deduction subtracted $2,049 from taxable income in 2008.
At a marginal rate of 25 percent2, this means that the average taxpayer saved $512 in taxes as a result of the real estate tax deduction. The total savings from the real estate tax deduction in Idaho in 2008 was $107,177,250.
If the MID and real estate tax deductions were eliminated, the loss would not be a one-year event; homeowners lose out on these potential savings each and every year. The present value3 of these lost savings could total $12,416,060,000. The value of all owner-occupied real estate in Idaho in 2009 was $87,262,337,900. If the lost tax savings are fully capitalized into the price of houses, the average decline in value in Idaho would be 14%. From the individual perspective, the median priced home in Idaho in the third quarter 2010 was $127,600. A decline in value as projected would mean a loss in home value of $18,155 for the typical home owner.
--------------------------------------------------------------------------------
1 Marginal rates range from 10 to 35 percent.
2 Ibid.
3Present value calculation assumes 5 percent discount rate and 1000 year time horizon.
Sources for the data above include: Internal Revenue Service 2008, American Community Survey 2009, National Association of Realtors® 2010; All calculations are by the National Association of Realtors® Research Division
Published Dec 22, 2010. Reprinted with permission from Ada County Assoication of REALTORS®.
Of the approximately 399,498 owner-occupied houses in Idaho in 2009, 278,102 or 70% had a mortgage.
In 2008, 194,063 taxpayers in Idaho claimed a deduction for mortgage interest. The total amount deducted was $2,054,503,000. This means that the average taxpayer claiming the MID deducted $10,587 from taxable income in 2008.
At a marginal rate of 25 percent1, this means that the average taxpayer saved $2,647 in taxes as a result of the MID. The total tax savings from the MID in Idaho in 2008 was $513,625,750.
In 2008, 209,237 taxpayers in Idaho claimed a deduction for real estate taxes. The total amount deducted was $428,709,000. This means that the average taxpayer claiming the real estate tax deduction subtracted $2,049 from taxable income in 2008.
At a marginal rate of 25 percent2, this means that the average taxpayer saved $512 in taxes as a result of the real estate tax deduction. The total savings from the real estate tax deduction in Idaho in 2008 was $107,177,250.
If the MID and real estate tax deductions were eliminated, the loss would not be a one-year event; homeowners lose out on these potential savings each and every year. The present value3 of these lost savings could total $12,416,060,000. The value of all owner-occupied real estate in Idaho in 2009 was $87,262,337,900. If the lost tax savings are fully capitalized into the price of houses, the average decline in value in Idaho would be 14%. From the individual perspective, the median priced home in Idaho in the third quarter 2010 was $127,600. A decline in value as projected would mean a loss in home value of $18,155 for the typical home owner.
--------------------------------------------------------------------------------
1 Marginal rates range from 10 to 35 percent.
2 Ibid.
3Present value calculation assumes 5 percent discount rate and 1000 year time horizon.
Sources for the data above include: Internal Revenue Service 2008, American Community Survey 2009, National Association of Realtors® 2010; All calculations are by the National Association of Realtors® Research Division
Published Dec 22, 2010. Reprinted with permission from Ada County Assoication of REALTORS®.
20 Tips for a Positive 2011
Hello 2011 and Happy New Year, all!
I came across a link to this newsletter entry this morning via Facebook from a friend. Really great stuff - great ideas to kick-off my way to a positive, successful new year. I hope you enjoy it as much as I do.
Embrace life...we only go around once...at least this in this life... :-)
Chris
http://www.jongordon.com/newsletter-010311-20-tips-positive-new-year.html
I came across a link to this newsletter entry this morning via Facebook from a friend. Really great stuff - great ideas to kick-off my way to a positive, successful new year. I hope you enjoy it as much as I do.
Embrace life...we only go around once...at least this in this life... :-)
Chris
http://www.jongordon.com/newsletter-010311-20-tips-positive-new-year.html
19 October 2010
Gas Fireplace Inserts
The weather is beginning to chill and we are solidly into fall. Perhaps you have decided to stay in your home longer that you originally planned due to the recession and dropping average sales prices locally. So you've decided to hunker down and add those details to your home that you've been missing.
Have you been wondering about adding a fireplace before winter? Check out this article with some information to get you started.
Have you been wondering about adding a fireplace before winter? Check out this article with some information to get you started.
(New!)Gas Fireplace Inserts: Pros and Cons
Add a gas-burning fireplace insert if you want clean air and the ultimate in convenience. Read
Visit houselogic.com for more articles like this.
Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®
14 September 2010
She's Baaaaack...!!
Hello, my 'net friends! Just in case you missed my September newsletter, I thought I'd drop a quick update here...since it's been awhile since I've felt bloggy. It might be a word.
Anywhooo, I am happy to announce that I am now back with RE/MAX Homestead in Idaho Falls, ID. :-) I am also happy to say that this gives you the same great agent (ME!) with the benefits of the RE/MAX franchise, which will benefit my Seller clients, in particular. And Seller's need every edge they can get these days!
I have also with this move teamed up with Danny Utterbeck, to form our new agent team, UtterLee Pro Agents! Cool, yeah? What this means to my clients, either Buyer or Seller, is that they have access to more diverse real estate experience from each of us, and are getting us both for the price of one! It's like a BOGO. Sweet!
So, if you have any questions about the local real estate market, are moving elsewhere and need help finding a real estate professional where you are headed, or just want to talk shop, drop either one of us a line and see what's new. I still keep local market stats, and have a new quarterly glossy flyer I've been distributing this year, so if you have not seen it yet and would like to, give me a holler (no hooting please).
See you in cyber space!
Chris
Anywhooo, I am happy to announce that I am now back with RE/MAX Homestead in Idaho Falls, ID. :-) I am also happy to say that this gives you the same great agent (ME!) with the benefits of the RE/MAX franchise, which will benefit my Seller clients, in particular. And Seller's need every edge they can get these days!
I have also with this move teamed up with Danny Utterbeck, to form our new agent team, UtterLee Pro Agents! Cool, yeah? What this means to my clients, either Buyer or Seller, is that they have access to more diverse real estate experience from each of us, and are getting us both for the price of one! It's like a BOGO. Sweet!
So, if you have any questions about the local real estate market, are moving elsewhere and need help finding a real estate professional where you are headed, or just want to talk shop, drop either one of us a line and see what's new. I still keep local market stats, and have a new quarterly glossy flyer I've been distributing this year, so if you have not seen it yet and would like to, give me a holler (no hooting please).
See you in cyber space!
Chris
12 July 2010
Great New Restaurant in Idaho Falls
Ole Toro, Sunnyside Exit of I-15, near the Sleep Inn
Ok, it's been open for a few months now, but I just went there for dinner over the weekend and it is great! Nice ambiance and great food - actually I think better than Sol Rio on both accounts; definitely worth the trip to try it out. We had carne asada and the hot green chili chicken enchiladas; both were great, the steak was tender and tasty and the chicken had a nice kick to it! If you aren't a refried beans fan, you can request black beans with your meal instead.
And if you are on the West Side, it is very easy to get to via the "Absolutely No Through Traffic" route that they conveniently plow in the winter. (Maybe it's just me, but when they had the Jersey barriers up, that seemed to say "Absolutely No Through Traffic" much more distinctly, yeah?) Not that I would recommend driving that route, of course. Cruiser bike, perhaps?
Ok, it's been open for a few months now, but I just went there for dinner over the weekend and it is great! Nice ambiance and great food - actually I think better than Sol Rio on both accounts; definitely worth the trip to try it out. We had carne asada and the hot green chili chicken enchiladas; both were great, the steak was tender and tasty and the chicken had a nice kick to it! If you aren't a refried beans fan, you can request black beans with your meal instead.
And if you are on the West Side, it is very easy to get to via the "Absolutely No Through Traffic" route that they conveniently plow in the winter. (Maybe it's just me, but when they had the Jersey barriers up, that seemed to say "Absolutely No Through Traffic" much more distinctly, yeah?) Not that I would recommend driving that route, of course. Cruiser bike, perhaps?
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