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I owe more than my Mortgage, can I still sell it?

January 19, 2011 By

It’s a hard reality but it happens a lot right now. Some of the people who bought in the mid part of the 2000’s owe more on the properties than they can sell them for in 2010. Our good fortune in … [Read more...]

Filed Under: Real Estate, Real Estate Agent, St. Louis City, St. Louis County

What are the rules for capital gains when I inherit a house?

January 19, 2011 By

The good ole IRS looks at the home value on the day of the parent’s death. It does not matter if the home is paid for or has been in the family for 100 years. The children’s cost-basis will be … [Read more...]

Filed Under: Real Estate, Real Estate Agent, St. Louis City, St. Louis County Tagged With: , , , , , , ,

Are seller-paid points deductible in Missouri?

January 19, 2011 By

In January on 1991 the law changed. Homeowners are able to deduct points paid by the seller. It used to be only the buyer. Your Tax accountant and you Real Estate agent should be able to expand on … [Read more...]

Filed Under: Real Estate, Real Estate Agent, St. Louis City, St. Louis County Tagged With: , , ,

I’m buying a new home, are cost are tax deductible?

January 19, 2011 By

In your home loan or Mortgage you might be paying “points” towards your deal. These points are tax deductible for that fiscal year. You property taxes and interest are deductible every year! Some … [Read more...]

Filed Under: Chesterfield, Eureka, Green Builder, High Ridge, Lake Saint Louis, North County, OFallon, Real Estate, Real Estate Agent, St Charles, St. Louis City, St. Louis County, Wildwood Tagged With: , , , , , ,
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