Q. I recently moved to South Carolina and am renting a house. I would love to purchase a house, but I can't because the house I left in Illinois isn't selling and has no activity. It seems that the housing market is getting worse, what can we do to fix it? Is it impossible since the media is reporting that the housing market will not rebound until 2020?
A. You would have to check with the president, his solution is to raise taxes on those that earn over $250,000 year.
Then that was the same solution for the deficiency. That was also his solution to solving the increase in spending.
That was also his solution for putting people back to work.
I suppose his solution to solving all the problems of this administration is t o raise the taxes on all that earn over $250,000.
I think the housing situation would start to recover in late 2012 or early 2013. But then no one was able to predict the crisis in the first place. One day we will wake up and the housing crisis would have been over by six months. I do think we are nearing the end of this housing crisis.
I hope this has been of some benefit to you, good luck.
"FIGHT ON"
Then that was the same solution for the deficiency. That was also his solution to solving the increase in spending.
That was also his solution for putting people back to work.
I suppose his solution to solving all the problems of this administration is t o raise the taxes on all that earn over $250,000.
I think the housing situation would start to recover in late 2012 or early 2013. But then no one was able to predict the crisis in the first place. One day we will wake up and the housing crisis would have been over by six months. I do think we are nearing the end of this housing crisis.
I hope this has been of some benefit to you, good luck.
"FIGHT ON"
Need help about getting information regarding renting out a home?
Q. With the way the housing market is right now, it being a good time to purchase but not a good time to sale, I am interested in renting my house out. Does anyone know of a website or where I can get information on doing so? I have no idea where to start and know nothing about renting/leasing property. Somebody help! I prefer not to go through a realtor.
A. It's not complicated. Go to ehow.com I think they have the basics. You'll want to have all repairs done on the house, get a lease agreement drawn up. I want to throw something out there as a precautionary measure for you. My sister-in-law rents out a duplex building. She has had nothing but trouble with tenants and drugs and not paying rent for months and then packing up and moving. I would do a background check on the applicants first to see what kind of history they have. I think it would be worthwhile in the end.
How long does it take to buy a house?
Q. If you have the house picked out and everything, how long does it take to finish the buying process? What kind of prices are in today's housing market? Renting prices would be nice too, just on average or something. I really just need the average time frame on the house thing, for a story I'm writing. If it takes between a certain number of days on average, I'll just pick, but I'd love for it to be as realistic as possible.
A. A week if you are paying cash, 30 days if you are not.
Rent varies a lot, there is no good answer to give you.
Rent varies a lot, there is no good answer to give you.
How much will renting my condo effect my tax return?
Q. I had to move for work and had to rent out my condo (Due to the housing market). I don't make enough off the rent to cover the mortgage but it helps. I know that this is income that has not been taxed. Will this have a major impact on my tax return?
A. Anyone owning a rental can claim it as a deduction. Yes, you will have to claim the income as well but rentals allow depreciation deductions which if you are living in the home you can not deduct for. Go to turbotax.com and you can do your own taxes. Turbo tax has all the newest tax laws installed in their program and they automatically figure out the forms you need and do the math for you. To file your federal is free and there is a small fee (less than $20) to file your state. I did my taxes on turbo tax and I own have a whole bunch of deductions besides a mortgage. Also, anything you put into your rental for renovations or repairs can also be deducted from your taxes.
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