Tax Reform and its Potential Impact on Housing
Disclaimer: This guide is not meant to be a resource for tax advice but instead a resource for basic information concerning only certain aspects of the new tax code and how they may impact the real estate market. You should get tax advice from your accountant or tax preparer who will explain how the entire tax code will affect your personal return. This information comes immediately after the new tax code became law. Some of the information may be revised as the analysis of the new law evolves.
Taxes are complicated and unfortunately Trump failed at simplifying the tax code such that we could file our taxes on a postcard (his initial goal). That would have been a massive win, but I believe the vast majority of Americans come out ahead with this new plan.
My goal here is to analyze the changes in broad strokes and analyze if the tax reform changes are positive or negative on housing prices (I also failed to fit this analysis on a postcard).
By Scott Nelson-Archer, CLU, ChFC
Last week we had a general surgeon call us about their skiing accident or semi skiing accident he had. The reality was he was getting off the gondola, walking to the slopes when he slipped on a piece of ice causing him to fall and catch his thumb on the edge of his ski. When he caught his thumb on the edge of the ski it caused a cut at the base of his thumb…his dominate thumb. To get to the point without more details he is having some real issues with nerve damage and is now unable to do surgery for the foreseeable future. So the question is “how will my disability policy work”?
By Doug Mitchell, CLU - Ogletree Financial Services, LLC
The dispute between those who advocate for permanent cash value life insurance and those who advocate for affordable but temporary term insurance is ongoing and continually hotly contested. Regretfully, what we typically end up with is a lot of heat but very little light. So, which is better when it comes to cash value life insurance versus term? It’s simply a doctor’s choice based on their circumstances.
How you choose depends on where you are in your practice and what risks need to be financially mitigated. Based on that, here are some recommendations when you attempt to make an informed decision.
This infographic and info courtesy of Cyndi Carver, Berkshire Hathaway
• The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report.
• In the report, home prices are compared both regionally and by state.
• Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!
By Josh Mettle - Fairway Physician Mortgage Loans
It’s no secret, getting your real estate offer accepted in today’s hyper competitive real estate market is no simple task – especially in the highly sought after neighborhoods most physicians are competing in. Inventory is low in most areas of the country and the competition for the best homes is fierce.
Most buyers you will be competing against (and their Realtors) only know one way to compete, which of course is with price. But like any game, there are rookie tactics and there are insider expert tactics for getting the job done.
Before I share the 7 insider tactics with you, allow me set the stage as to where we are today with the national real estate market and what you need to know to be competitive.
Gin Albanese | Luxury Residential & Commercial Real Estate | Gin.Albanese@SothebysRealty.com
Medical professionals may be eligible for a mortgage up to $750,000 without a down payment or private mortgage insurance needed.
PhysicianLoans, an Ohio-based mortgage lender offers “Doctor Loan” to medical doctors, dentists, and veterinarians. The company lends in 18 states, including Georgia, Michigan, Minnesota, Pennsylvania, Ohio, Texas, and Wisconsin, among others.
“Today’s young doctors would like to both pay down their debt and buy a home,” says Tal Frank, PhysicianLoans president. “While a post-residency doctor making six figures has the cash flow for both, they do not yet have the down payment required by a traditional bank.”
“Doctors completing their training now have to pay more for a home than they did five years ago, which would translate to an even higher down payment with traditional banks,” Frank added. PhysicianLoans has offered zero-down loans for doctors previously but increasing the loan amount to $750,000 helping more homes in reach for new doctors who recently completed training.
You’ve probably seen the ads promising online mortgages in a flash. Sounds good, because who isn’t busy these days? But wait. Would you buy your next car in a flash? Imagine filling out a form on a website, taking the car presented to you without being offered any options, and paying whatever the dealer asked?
Most people probably aren’t in that much of a hurry to purchase a new vehicle, never mind a long-term commitment to pay up to $150,000 or more. I can testify that many homebuyers have had safer, less stressful experiences when teaming up with a mortgage loan professional. Here are six reasons to consider working with a loan officer that lives and works in the same community you do:
Doug Mitchell, CLU
Ogletree Financial Services, LLC
Most physicians take good care of themselves. Knowing how important it is to be healthy and setting the example for their patients leads them to be clear examples of how to take care of oneself. However, it’s always a convenient precaution to assure our beloved ones a stable future, and the best way to fulfil this is by buying a life insurance policy just in case.
Buying a life insurance policy is surely one of the most important decisions people can make in their financial lives. Whether you have some knowledge of Term Insurance and Whole Life Insurance or not, deciding is never an easy task since it requires careful consideration of your needs, concerns and priorities.
Once the decision is finally made, it brings a sense of relief and comfort to most people, sadly, this is not an everlasting feeling. It will only last until they have to face the agonizing process of deciding which kind of life insurance to buy.
Regarding life insurance, the amount of different options can make this process a bit daunting and overwhelming, however, proper recommendations and tips will help you choose right.