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Financing costs are rising soon

by The IrvineTeam

This article in the Wall Street Journal explains near term changes in financing costs that you should be aware of if you contemplating purchase soon.

The short version is that the price and availability of mortgage money is about to go up.  This explains the how, the why, and the how much!

http://online.wsj.com/article/SB10001424052748704520504576162632959543492.html?mod=djemRealEstate_h#printMode

 

 

Tax Deductible PMI Premiums

by Colleen

There is good news for homeowners that have private mortgage insurance included in their mortgage payment – Congress recently extended legislation making PMI premiums tax deductible through 2011.

 

PMI is only tax deductible for homeowners with adjusted gross incomes of less than $110,000. Borrowers with adjusted gross incomes up to $100,000 may be able to deduct 100% of their 2011 premiums. Deductions are phased out in 10% increments for borrowers with adjusted gross incomes between $100,000 and $109,000.

 

As with any deduction, be sure to consult your tax advisor if you have any questions

Snowmageddon

by Colleen

  Weather seems to be the topic this week.  When weather is the news, I guess there isn't much in the news, and that's a good thing!  It's winter, after all.  It's cold, it snows. What else is there to say? 

  I don't think that I like the local news media whipping us all into a frenzy so that we can't help but strip the shelves bare at Dierbergs, Schnucks, Walmart and Target.  I do like that the state, county, and municipal street departments are really pretty good at getting us back to normal.  I especially appreciated those guys and gals when it took me 2 hours to clear my driveway of frozen solid sleet that only came up in 3 foot chunks with a chisel!  The only thing that kept me going was the inviting view of actual pavement on the street at the end of the drive.  Knowing that if I could just get there, the rest of the world was ready and waiting...or at least passable!

I've lived in the St Louis area for all of my 54 years. For those folks who are just recently arrived from warmer climes, I'm sorry!  At the end of the season, you can usually get a snow blower at Lowe's for about $125.00.  If you buy one, you probably won't need it more than once or twice for the next several years.  For those of you from harsher climates, I apologize for the hysteria that emerges every time a flake of snow drifts by...we don't have bigger, badder things to talk about most days, and that's ok.

Displaying blog entries 1-3 of 3

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Photo of Colleen Lawler & The IrvineTeam Real Estate
Colleen Lawler & The IrvineTeam
Coldwell Banker Gundaker
111 Chesterfield Towne Centre
Chesterfield MO 63005
Office: 636-391-2100
Toll Free: 800-791-3276
Fax: 636-536-3018