Where do I get information on IRS Real Estate publications.

It is never to early to start planning for next April 15th. Start at http://www.irs.gov/ bookmark it as a favorite and you can have access all year long. This is the code for 2008 tax season, and we will be closely wacthing any changes for 2009 Tax Year and update you on my blog as needed. We all need every tax break we can get, so it helps to be familiar with the Tax code. It is very complicated but you don't have to be a CPA to figure it out. It helps if you know where to look. With a little help from our friends at the US Treasury and the IRS, we can work it out.

The Internal Revenue Service publishes a number of real estate publications.

They are listed by number:

* 521 "Moving Expenses"

* 523 "Selling Your Home"

* 527 "Residential Rental Property"

* 534 "Depreciation"

Are you looking for a real estate professional who knows the FORT RUCKER and Enterprise Alabama Real Estate market and can get the results you desire? Let me put my knowledge, experience, and dedication to work for you.

As you move towards a possible decision on selling your home, or purchasing a new home in the Wiregrass Area,

I hope you'll contact me. Let me know if I can be of further help in the process.

To get your Audio Postcard, turn up your speakers, and click on this link: http://audiopostcard-007.com/Y.asp?10544689X1166 Stay in touch, feel free to call with any questions, anytime 24/7.
Sincerely,

Karina Morgan

REALTOR, ABR, GRI
CENTURY 21 Regency Realty, Inc.
(334) 477-2694
www.RuckerPCS.com

We Support Our Troops

LOOKING FOR LAKEFRONT LIVING

WATERFRONT WITH A VIEW OF WILDLIFE

FISHING IN YOUR OWN BACK YARD

AT YOUR OWN RISK

VIRTUAL TOURS ON ALL MY LISTINGS, Ask me about Cyber Advertising. 

Please forward to anyone who may be moving to Fort Rucker in the future.

Click the Link Below: http://audiopostcard-003.com/Y.asp?7189970X1166

Stay in touch, feel free to call with any questions, anytime 24/7.
Sincerely,

Karina Morgan REALTOR, ABR, GRI
CENTURY 21 Regency Realty, Inc.
(334) 477-2694
www.RuckerPCS.com

We Support Our Troops

1) Real Estate Agents are Always Late for Appointments

False. There is no excuse for habitual tardiness among professionals. None. I don't care if it's your doctor, your cable TV installer or your Realtor.

Every person deserves respect, and respect is earned by providing what is promised and being on time. If your agent has a god-like, self-deluded impression of her or his own importance, find another. The agents I know are on time. Clients who listen to agents' excuses allow tardiness to happen. The agents I know are always prompt. Don't let a few bad apples give the entire industry a perception it doesn't deserve.

2) The More You Pay for a House, The More an Agent Makes

False. Ever hear a friend say this: "Every dime more you pay for that house makes the agent more money, so don't trust that agent." That's a misunderstanding. The difference between $300,000 and $310,000 is about $150 to an agent. Do you really think the agent pays any attention to the commission difference of a $10,000 spread?

3) The Less Commission You Pay to Sell, The More you Make

False. Discount brokers like to propel this myth. They claim to save sellers money by charging less. The truth is agents who are top producers and excel in this business do not discount services. Why? Because they don't have to.

Less-than-full-service agents can't afford all the bells & whistles paid for by full-service agents, who tend to draw higher offers. It boils down to you get what you pay for. A 2% commission reduction doesn't amount to much when your price is discounted 10% or more because your agent couldn't afford full market exposure.

4) Agents Must Show You Homes On Demand

False. Unless you have a signed contract with an agent or that agent represents the seller, that agent you call doesn't have to show you anything. You can't call a local real estate office and demand service or demand to be shown homes, because agents don't work for free.

If you aren't planning on writing an offer with the agent you call, be upfront or don't waste that agent's time. But don't expect that agent -- who is likely to earn nothing -- to be too excited about jumping in the car with you. That agent is not obligated to show you anything.

Nor is the listing agent obligated to show you a listing if you are represented by another Realtor without a request from that Realtor.

5) Agents Get Kickbacks from Lenders / Title / Inspectors

False. Since 1974, agents have been prevented from receiving any kind of kickback or favor from real estate vendors. It's against the law. It's against RESPA: the Real Estate Settlement Procedures Act. Some agents are slower than others to realize how the law affects them, but most have heard of RESPA and would not jeopardize their license, regardless of the temptation.

6) An Agent's Home Inspector Will Always Favor the Agent

Any agent worth her salt wants disclosure. Why? Because she wants what is best for her client but also, and this is not to be taken lightly, because she does not want to be sued.

Agents must disclose material facts. A buyer is always, without fail, better off knowing the truth about a house. Good agents care that a buyer receives full disclosure and are willing to fight for repairs on the buyer's behalf or help the buyer cancel the transaction.

7) All Real Estate Agents Make Too Much Money

False. An agent's average annual salary is less than $36,000 a year. You will find that about half the agents in any large brokerage close less than four deals a year. Nobody can live on that. Not once office fees are paid, MLS fees and lockbox fees are deducted, overhead and expenses for the agent are deducted, errors & omissions insurance and office supplies are paid.

8) Agents Sell Their Own Homes for More Money Than Yours

False. Busy agents and top producers don't have the luxury of time to waste when selling their own home. They also understand the market better than your average home seller, which means if a home isn't selling within a reasonable period of time, it means it is priced too high.

I have witnessed first-hand what happens when agents put their residences on the market. If they need to sell, they might even cut the buyer a better deal than the buyer can get on the open market. After all, the person most likely to be persuaded by a sales pitch is a person who sells for a living.

9) Agents Should Tell You About Crime, Schools & Ethnic Make-up of Neighborhoods

False. Federal Fair Housing laws prevent a real estate agent from discriminating against a number of protected classes, which automatically prohibits an agent from disclosing anything remotely relating to the protected classes.

Therefore, it may come as a shock to many people that agents cannot disclose crime rates, school stats or ethnic mixes of neighborhoods. If that kind of information is important to you, an agent can tell you where to find it but cannot provide it.

Those who tell you otherwise are misinformed.

10) Agents Will Say Anything to Make the Sale

False. Although it is true that some agents will lie to you, it's unfair to paint all agents with such a broad brush. Top producing agents, those who enjoy a solid reputation in the community and practice real estate honestly and truthfully, are very careful to uphold a client's trust.

Making misrepresentations or a false statement is against the law. Agents who break fiduciary relationships or fail to disclose material facts are subject to prosecution and a loss of their license to sell real estate.

VIRTUAL TOURS ON ALL MY LISTINGS, Ask me about Cyber Advertising. 

Please forward to anyone who may be moving to Fort Rucker in the future.

Click the Link Below: http://audiopostcard-003.com/Y.asp?7189970X1166

Stay in touch, feel free to call with any questions, anytime 24/7.
Sincerely,

Karina Morgan REALTOR, ABR, GRI
CENTURY 21 Regency Realty, Inc.
(334) 477-2694
www.RuckerPCS.com

We Support Our Troops

Retired Military Tax Rates Change

Week of April 20, 2009

Retirees and annuitants may see a change in the amount of money they receive beginning May 1, 2009 thanks to a new tax credit that will reduce federal withholding tax rates. These new federal tax rates went into effect April 1, 2009 for the retired and annuity pay due May 1. The new tables can be found the IRS Website.

If you want to adjust your federal tax withholding after this tax credit takes effect you must submit a new Form W-4P, which is available on the Internal Revenue Service website.

Mail a completed Form W-4P to: U. S. Military Retired Pay, P.O. Box 7130, London, KY 40742-7130; fax it to (800) 469-6559; or make the adjustment through an active myPay account online.

Please forward to anyone who may be moving to Fort Rucker in the future.

Click the Link Below: http://audiopostcard-003.com/Y.asp?7189970X1166

Stay in touch, feel free to call with any questions, anytime 24/7.
Sincerely,

Karina Morgan REALTOR, ABR, GRI
CENTURY 21 Regency Realty, Inc.
(334) 477-2694
www.RuckerPCS.com

We Support Our Troops

Long and Short of it. It takes time to make money. It takes time to get a short sale completed and to close. I have found a few basic things to explain what it takes below.

If you've taken out a large mortgage, and perhaps refinanced to cover remodeling or other expenses. You may find yourself unable to keep up with your mortgage payment after a layoff, or the dreaded 4 D's Drugs, Death, Divorce, Disease or Health issues. Maybe the dream home you purchased is not worth what you originally paid for it in todays market. Life is not always fair and balanced.

More and more people are finding they need to sell their homes for less than they owe on the mortgages, known as a "short sale." The Short part may sound like it is a fast process, but it may indeed take a long time.

Selling short is definitely better than foreclosure, which stays on your credit record for ten years. But it's best to try to work things out with your lender before going through the embarrassing and laborious process of selling your home on a short sale.

Tax Issues

Before you put your home on the market for a short sale, it's best to talk with a tax advisor about possible tax repercussions. It's likely the IRS will consider the difference between the value at which you sell your home and the mortgage balance as "income" on which you'll have to pay taxes.

An exception to this rule is if you can prove that you were insolvent - that your debts were bigger than your assets- before your mortgage lender agreed to a short sale of your property. A tax advisor will be able to tell you for sure whether you'd be considered insolvent by IRS standards.

If you can't prove you're insolvent, and the tax bill on a short sale would be more than you can pay, you may have to let the mortgage lender foreclose, or declare bankruptcy.

Be Upfront With The Real Estate Agent

If you find selling you house for less than you owe on the mortgage is an option short of foreclosure or bankruptcy, you'll want to find a real estate agent who understands your situation. Agents typically take a much lower commission on short sales, and it often takes much longer to actually close the sale once the seller accepts an offer. But many agents sympathize with financial problems brought on by unexpected circumstances, and may want to help.

Convincing Your Mortgage Lender

The buyer will need your help in negotiating a short sale approval with your mortgage lender.

Your bank will have to be convinced that you deserve to be approved for a short sale. You'll need to tell your mortgage lender about your financial hardships, including layoffs, divorce or medical issues.

While this may seem obvious, now is not the time to rack up the purchase of luxury items, like fancy cars or jewelry. Your lender will see these debts on your credit report and become convinced you're a loose spender who doesn't deserve a break.

It may also be necessary to provide the lender, either directly or through the buyer or buyer's agent, documentation of your financial hardship, such as paystubs, bank statements and so forth. While this may seem like an invasion of your privacy, try to think of it as the fastest way out of an otherwise overwhelming debt.

Short sales take much longer to close than more conventional sales, so plan accordingly. If it works, you've avoided bankruptcy and an ugly mark on your credit report. If it doesn't work, you'll know that you've done everything you could to avoid foreclosure and/or bankruptcy.

VIRTUAL TOURS ON ALL MY LISTINGS, Ask me about Cyber Advertising. 

Please forward to anyone who may be moving to Fort Rucker in the future.

Click the Link Below: http://audiopostcard-003.com/Y.asp?7189970X1166

Stay in touch, feel free to call with any questions, anytime 24/7.
Sincerely,

Karina Morgan

REALTOR, ABR, GRI
CENTURY 21 Regency Realty, Inc.
(334) 477-2694
www.RuckerPCS.com

We Support Our Troops