Richland, WA

Where: 844 Tulip Lane Richland, Washington 99352 What: An evening to remember! Concerts are staged every Saturday evening in a wonderful outdoor setting which features a massive 33 foot basalt fountain, warm and friendly fire pits, and garden atmosphere. Guests will experience a relaxed, unique venue while listening to a variety of exceptional live musical performances. Taverna Tagaris is a full-service gourmet restaurant featuring Mediterranean cuisine. When: 7:00pm - 10:00pm, Saturdays Contact: 509.628.0020 Directions:

Originally posted at Taverna Tagaris Richland Washington.

North Richland is well known as the heart of science and technology due to its huge contribution to the development of the Atomic bomb. Today, huge efforts to restore the area to its near-original state are being funded by the government.

Richland is also famous for being the site of one of the renowned laboratories, the Pacific Northwest National Laboratory. Its current employees are mainly composed of thousand of scientists, researchers, and other employees making it as one of the area's major economic driver.

North Richland is one of the best destinations due to its strategic location. It is bordered by the Columbia, Snake and Yakima rivers, blessed with rich soil conditions and amazing climate. Just a few reasons one can enjoy an excellent quality of life. It is also the center of Washington's growing wine country. Here you can find more than 100 high quality wineries within an hour's drive of downtown Richland. Not to mention extensive golf, recreation and river-oriented activities perfect for every family.

If you are relocating to North Richland Washington to work in one of the many employment opportunities available in the Tri Cities, or simply want a grand place to live and play, consider using the Lane Real Estate Team. You can start your search for North Richland homes today! :)

Originally posted at North Richland Washington.

With the onset of spring the Tri Cities WA real estate market has begun to see signs of heating up. But for those still on the sidelines, I thought it would be important to see just what the new $8000 First-time home buyer tax credit can do.

Many people have asked emailed me at the Tri City Home Team or called and asked about the program. Quite a few wanted to know how they could use it for a down payment. Well, the answer is, you can't. BUT, I do have a slick way of accessing the credit after you've purchased your home- and I mean getting your hands on it within an estimated 10-12 weeks after you've closed on your new Tri City home.

By now, most of us have filed our 2008 tax returns and, for many of us, have written a check to the man in the red,white and blue top hat. So here's a strategy for getting the credit BEFORE next year.

The 1st thing to do is to call us here at the Tri City Home Team and let's work together to find you a new home you'll want to purchase. Right now is a great time to get an FHA loan for your new home, and they only require a 3% down payment! If you are looking at a purchase price of $200,000 you'll only need $6000 for your down payment. And many, many of the Tri City homes being purchased are negotiating to have the seller's cover all, or most, of your closing costs.

The 2nd step is to go through the purchase steps and close on your new home!

Now--- You go to your tax-preparer with your HUD-1 Settlement Statement and have them file an AMENDED 2008 tax return, claiming your First-time Home Buyer Tax Credit, and 10-12 weeks later receive from the man in the top hat a refund check for your tax credit amount! Then send me a box of Campfire Girls Thin Mints as a thank you! Take that money and go put it into a safe and secure investment account- do not go buy jet ski's, do not pass GO, etc.

And welcome to homeownership and all the pride of ownership and tax benefits that comes with it.

Below is a matrix of the program, and to see a video explaining it, please go HERE to the Tri City Home Team page regarding the program. After that, please visit the front page and try our interactive, map-based Tri City homes search engine- you'll find it a better way to look for your new home!

It is of no question that Country Ridge properties are in demand. At present, lots are already ninety-eight percent accommodated by residential homes, so any real estate property up for grabs is truly gold. Country Ridge is a very warm community within the City of Richland and a fair-sized population of less than 400 family homes with a well organized home owners support. Parks and other common areas for residents inside the subdivision are around eleven hectares, all of which are highly maintained, making it a very good candidate for raising a family of any type. Country Ridge is also a most sensible location for one to live in with Richland being of easy access to other Tri-City areas thru its highway system, and Richland itself is full of endless choices for recreational activities, perfect for those who wish to retire happily. Owning a Country Ridge property is truly like purchasing a good life. See Country Ridge Richland Washington

*Country Ridge has 363 occupied homes and 2 vacant lots. The first of 8 phases was developed in the late 1970’s. There are 11 acres of parks and common areas throughout the subdivision. -Homeowners association site

Once you have purchased your first home, your next investment should be an income-producing real estate. Income properties are not just limited to single-family homes; it can be commercial property as well. Some investors prefer shopping centers, others warehouses. The possibilities are endless.

There are many tax benefits involved in owning your own home. The pride in owning your own property is unequaled. Such homes can be a single-family home, mobile home, condominium, apartment, or even a houseboat.

A basic rule of investing in income property is to never buy for the tax benefits alone. If a property is not sound without the tax benefits, chances are it is not a wise investment. The tax breaks involved in owning income property should be viewed only as an added bonus. These bonuses are a major enough reason for buying income property rather than vacant land. A vacant lot offers almost no tax benefits, and produces little or no income.

Many real estate investors depend on resale profits as another bonus of investing in real estate. Properties that would not make a return on your investment are not worth your time and effort.

Investors are property owners who contribute something to the property such as great management, physical improvements, or cash so someone else can use the property for their benefit. Investors tend to have reasonable property management policies which are fair to tenants. They also have expert financing techniques to use other people's money to purchase and improve a property. All investors have use of ownership tax aspect to maximize their return on investment.

Real estate helps many investors realize their goals. Some goals include increased cash income, a hedge against inflation, providing a job from owning and maintaining property, opening up profit opportunities through real estate.

One of real estate's major attractions is its ability to shelter the owner's ordinary income, such as salary, from income taxes. A profitable example of this is an apartment building that produces rent money from tenants. The property owner uses that money towards operating expenses such as taxes, repairs, utilities, water, and insurance on the property. After you calculate all of these costs, plus mortgage interest, you are left with a positive or negative cash flow from your investment.

Do not forget about the non-cash tax deduction for the buildings depreciation. Income tax depreciation is a bookkeeping estimate for wear and tear. It requires no cash payment to be entitled to this deduction.

Tax-deferred exchanges are a great way to avoid depreciation recapture and profit taxation when disposing of one property and recapturing another.

In fact the 1981 Tax Act's anti-churning provisions state clearly that if you make a tax-deferred exchange of business or investment real estate for another such property, your old basis and its old depreciation methods carry over to the newly acquired property. The new fifteen-year, 175 percent accelerated depreciation methods can only be used on the increased depreciable basis of the property acquired in the exchange.

Investment tax credit does not apply to personal property acquired by most real estate investors for use in their properties; however it does apply to vehicles. See income property.