Thursday, July 31, 2008

Austin Real Estate Brokers

A person whose business is to market immovable property on behalf of clients is called a real estate agent. They find buyers for those trying to sell real estate, and sellers for those who want to buy property. Austin is currently experiencing a real estate boom. There are many real estate agents in Austin who give great service to their clients.

As there is high competition, these agents charge reasonable prices. Buyer's agents in Austin get their share from the proceedings of the sale; hence, buyers receive free service. For sellers, most of the agents give free cost-market analyses. Normally, the commission is given upon finding a satisfactory buyer for the real estate for sale. The estate agents do the advertising for the seller. The special laws and rules are made for the dual agents who serve both buyers and sellers at the same time.

There are many agents who perform specialized tasks, like selling ranches, selling houses, selling commercial property, etc. Many agents are tied up with the builders. With predefined contracts they get a commission from the builders.

Due to stiff competition, the agents in Austin provide good service in order to retain customers. Austin?s real estate brokers use the latest in technology and the Internet to make buying or selling profitable and enjoyable. They provide help in getting loans and making documents. Since word of mouth publicity is very important in this profession, and a satisfied customer is the best referrer, the agents give proper attention to customer satisfaction.

Austin Real Estate provides detailed information on Austin Real Estate, Austin Real Estate Brokers, Austin Commercial Real Estates, Austin Real Estate Listings and more. Austin Real Estate is affiliated with Dallas Real Estate Agencies.

Flipping and Capital Gains

A common dilemma for real estate investors is the issue of flipping and taxes. In this article, we look specifically at the tax issues associated with flipping and capital gains.

In recent years, people have been looking at the real estate market as they once looked at the stock market, eyes filled with dollar signs. Flipping became a popular real estate investment strategy to make fast cash. However, one thing that people forgot in their haste to play the game was to be properly prepared with the knowledge to avoid paying high taxes on their profits. Towards that end, here's some noteworthy information about taxes as you think about your flipping strategy.

First, in order to avoid overly onerous "ordinary income taxes" on flipping properties you must have the property treated as a capital gain. Most often, if you sell the property in less than a year, you will be taxed at the ordinary income tax rate, which can be in excess of 35 %. Only when you've held the property for more than a year, does the long-term capital gains tax of 15 % (for most tax payers) come into play. In order to have the property treated as a capital gain you must show that you had no intention of flipping that property. Ironically, this could entail holding the property for this extended period of time which counteracts the whole point of flipping - which is to make money fast.

Also, it's not only about "when" you flip, but about "how often" you flip. If you flip too often, the IRS may view that this strategy is your "trade or business" and therefore the profits you make are subject to ordinary income and self-employment taxes. And you don't want that.

Secondly, if you want to employ other strategies to avoid big taxes like installment or structured sales or private annuity treatment while flipping, you can't. Spreading tax out doesn't work because the property is not labeled investment property. This again goes back to issue of holding periods and intention of sale.

If you are hoping to use the 1031 exchange strategy as the approach for flipping and capital gains, again you will find yourself between a rock and a hard place. 1031 exchanges are reserved for investment properties only and if you can prove, through holding periods and intention, that the property is a capital gain or investment property, you will not be eligible. The IRS supports investors and savers, not speculators and gamblers.

Once most of your tax deferral options are exhausted, your last resort for flipping and capital gains may be to have that property re-characterized to a capital gain property by moving in to it and treating it as your personal residence. It may work, but holding even longer holding periods apply.

In conclusion, flipping can be an exciting and fast way to make money. But when it comes to taxes it is hard to make flipping and capital gains work together.

Buying Cheap Government Repossessed Homes

The American dream was for everyone to have a nice family, a stable job and a nice home with picket fences. Unfortunately, there are some who are still far away from this.

This could be because the price of property is too high and the breadwinner of the family has other things to be worried about such as putting food on the table.

Rather than being homeless and sleeping on the streets, the best that the individual can do is rent an apartment or condominium until enough money has been saved to buy home.

The opportunity of owning a home may be sooner than the person thinks. This is because the government puts a foreclosure on a house when the borrower is unable to pay for it.

This means this will fall under the jurisdiction of the United States Department of Housing and Urban Development that will put this house up for sale or auction. An ad is usually placed in the newspaper but this is more updated online.

The individual can check it out then decide whether this will be suitable to the needs of the family and if there is enough money around to make a good offer. It will also be a good idea to have someone check if there are any liens on the property. This will make sure there won't be anyone who will contest on the properly later on.

The person should not be surprised if some of these are very cheap because the place could already be run down. This may require a little renovation but it can be good as new in a few months.

Most of the houses that are sold don't have to be paid up front. It is possible to negotiate payment terms with a government representative as well as get some money from the bank to cover it.

The important thing to remember is to pay the monthly amortization on time because the interest rates will just add more to how much the homeowner is supposed to pay when buying the home.

Those who are interested will need to go down to the office of Housing and Urban Development to get the proper forms. Once this has been filled up, a down payment may have to be given so the processing can begin.

The applicant will not get an answer on the same day or overnight. This is because the government will also give time for other people who are interested to submit a bid.

The person should be aware that there are buyers who will buy it, fix it up then sell it in order to make a profit. This shows there is a lot of competition in the real estate market and not only for those who want to own a home.

Should the person win; the only thing to do is to make the necessary repairs before packing out of the old place then moving in to the new one. The place may not be brand new but it is something that the person can say is his or her own.

This isn't a bad start for someone who wants to attain the American dream because there are times that one has to start small before being able to reach something big.

For listings of government repossessed homes, please visit www.real-estate-foreclosed-home.info

Wednesday, July 30, 2008

Tips to Improve Your Home's Chances of Selling

Want to sell your home fast and at top dollar? Try enhancing the garage! Garage? Before you think I have completely lost my mind, let me explain. Women love kitchens, men love garages. Yet, most people completely ignore and destroy their garages to the point that they can?t even get one car in there. I can never understand that. There is so much value to having a clean, organized garage whether your home is on the market or you plan on staying there until the kids grow up.

When people plan to put their home on the market their thoughts sometimes turn to ?What can I do to make my home wow someone on a limited budget?? Renovating the kitchen or the bathroom can cost upwards of $15,000. Cleaning, organizing and making over the garage could cost under $3,000 and can provide a huge bang for the buck especially if you are trying to sell your home in a competitive market. Every family has one neat freak and sometimes it?s the man of the house. And, remember what I said earlier ? men love garages. Many times when I am showing homes, the women migrate to the kitchen and the men go right for the garage.

Here?s some easy and cost effective ideas for your garage:

?Do a thorough sorting of the items in your garage. Make separate piles of keep, toss, and donate. Follow through on the toss and donate before you move on to the next step.

?Paint the walls in a taupe or grey color using satin or gloss paint finish. This way when you need to wipe up, it will be easy to do. Plus this finish will last you years longer than the builder?s flat white paint you started with.

?Buy some inexpensive fully finished, full back cabinets with easy clean melamine interiors and exteriors. Make sure that they hold a load of at least 100 pounds per shelf. Things we store in the garage are heavy. Mount some top cabinets for seasonal storage and some lower cabinets for items used more frequently. Be sure to mount the lower cabinets off the floor a few inches to prevent water damage.

?Look into some of the new finishes for the garage floor. There are some good ?do it yourself? finishes and some professional chemical and stain resistant floor coatings that will really wow the family or the prospective buyer. If you go for the ?DIY?, don?t fail to fully follow the instructions of the product you choose ? you could end up with a peeling mess. It?s best to consult a professional for floor coatings.

One of the biggest benefits to you as a homeowner when you put the time and effort into organizing your garage is the expanded living area and ease of finding all the necessary tools and utility items quickly when you need them, not to mention a home for your precious cars. The other advantage is the added and increased dollar value the extra, usable space has just brought to your home. When you are trying to sell your home quickly and at top dollar in a competitive market, focus on the garage, it will bring you some good results.

Bob Lipply is a top Real Estate Broker Associate in the Tampa Florida Real Estate area.? He and his team have been helping families relocate to Florida and on the selling end get top dollar for their homes with great success.? Lipply Real Estate also specializes in Clearwater Florida Real Estate visit his website where you can search the MLS for up to date available homes for sale.