Mary Leizinger - Blog

Points Paid on a Mortgage Are Tax Deductible

mary.leizinger@results.net — Fri, 27 Jan 2012 00:00:00 GMT

When you buy a house, you get to deduct in one fell swoop the points paid to get your mortgage. When you refinance, though, you have to deduct the points on the new loan over the life of that loan. That means you can deduct 1/30th of the points a year if it's a 30-year mortgage. That's $33 a year for each $1,000 of points you paid -- not much, maybe, but don't throw it away.

Even more important, in the year you pay off the loan -- because you sell the house or refinance again -- you get to deduct all as-yet-undeducted points.

There's one exception to this sweet rule: If you refinance a refinanced loan with the same lender, you add the points paid on the latest deal to the leftovers from the previous refinancing -- and deduct that amount gradually over the life of the new loan.

Top 10 Mi$take$ that Co$t $eller$ Thousand$

mary.leizinger@results.net — Sat, 16 Jul 2011 00:00:00 GMT

1. Improper Pricing

2. Declining Showings

3. Poor Housekeeping

4. Repairs Needed

5. Attending Showings

6. Relying on Lawn Sign

7. Emotional Decisions

8. Misunderstanding Market

9. Unqualified Prospects

10. Wrong Agent

Is Real Estate a Local or International Business?

mary.leizinger@results.net — Tue, 19 Apr 2011 00:00:00 GMT

We are fond of saying in real estate that "all markets are local". Well they are, but not so much as they used to be. I recall a day about 10 years ago when I woke up to the globalization of our local real estate market when I took calls in a single day from Sweden and Brazil, each from a past client who had been working abroad and were repatriating back to Minnesota. Since then, I have set up my cell phone for international calling and keep connected via the internet while traveling. I've sold homes while traversing the Panama Canal and from Caribbean islands. I've worked with clients from Vietnam, Cambodia, Germany, Canada, Mexico and Guatemala. RE/MAX has offices around the world and I've connected clients to real estate agents in Ireland and Israel. Today, I saw another marker for the globalization of our local market. The US Census has reported that over 130,000 people have immigrated to Minnesota from around the world between 2000 and 2009. Here's a link to an interactive map to show you where Minnesota's immigrants are coming from: http://www.minnpost.com/severnsguntzel/immigrantjourney/ I was born, raised and educated in Minnesota, so the scope of the globalization of our "local" real estate market continues to excite and impress me.

Where Does Your Tax Money Go?

mary.leizinger@results.net — Sat, 16 Apr 2011 00:00:00 GMT

As Tax Day looms, and I hope you've got your return completed already, you may be sighing over the amount of money you are paying out. That's what can be called a "high quality problem". If you are paying taxes, you are making money. The White House has a new calculator on their web site that will show you exactly where your federal tax dollars go as they disappear into the federal budget. Check it out.

http://www.whitehouse.gov/taxreceipt

It might not make you feel a whole lot better, but you can at least see what your money is buying for you.