News Alerts. Sept. 29, 2013. Morning Edition. #RealEstate

Linking ≠ endorsement. Enjoy and share:

  1. Real Estate Tax and Rental Property – TurboTax® Tax Tips & Videos

    When you rent out a house or condo, taxes can be a headache.

    Consider this scenario:

    After buying a condo and living in it for several years, Sue meets Steve, marries him and moves into his house. Because the rental market in their area is improving, they decide that instead of selling Sue's condo, they could make some money by holding on to it and renting it out. But as first-time landlords, they don't know whether they need to report the rent they receive on their tax return and, if so, whether any of the money they spent to get the condo ready to rent is deductible.

    Does this story sound familiar? If so, you're not alone. Taxpayers in similar circumstances find themselves asking these questions:…

    Read the source article … x-tips/Rental-Property/Real-Estate-Tax-a nd-Rental-Property/INF12039.html

  2. Housing market will take massive hit in a shutdown | HousingWire

    In the event of a government shutdown, most Federal employees are required to stop working because no funds would be available to pay staff, ultimately ceasing most housing agency's functions.

    Consequently, the Federal Housing Administration will be unable to endorse any single-family loans and staff will be unavailable to underwrite and approve new loans, according to a Department of Housing and Urban Development's latest report.

    If an application for an FHA-insured loan is not approved by the time of the government shutdown, it will not make it through the system, impacting affordability opportunities for homeowners.

    Given that government-backed mortgages account for more than 90% of loans, the shrinkage in volume flow would critically hit the housing market.

    Read the source article … 4-housing-market-will-take-massive-hit-i n-a-shutdown

  3. Rejoice America: You Are Now $3 Trillion Wealthier… Due To A Definition Change | Zero Hedge

    Two months ago the US suddenly found itself "wealthier" by over $500 billion in Gross Domestic Product as a result of a simple definition revision that retroactively added trillions in cumulative gains from, wait for it, intangibles. More importantly, as Paul Singer explained, "As part of the revisions, the Bureau of Economic Analysis will change the way pension payments are counting in GDP. Previous to the change, when a company paid money into a pension plan, the money was counted as wages in the GDP calculation. After the change, what companies have promised to pay in the future, not what they are actually paying, will be added to GDP. This is fantastic. The bigger the unpayable promise made to unsuspecting retirees (promises that are not fully funded), the more GDP supposedly goes up!"

    Read the source article …  /rejoice-america-you-are-now-3-trillion -wealthier-due-definition-change

If you are an investor in 1-4 unit properties in Arizona, California, Nevada, Oregon, Utah, or Washington, please do the financially responsible thing and make sure you have proper Landlord Insurance with PropertyPak™. We love focusing on real estate and the economy in general, but we are also here to serve your insurance needs.

Hill & Usher (PropertyPak™ is a division) has many insurance offerings. See our menu above for more info and links.

Did this post help you? Let us know by leaving your comment below.

Note: This blog does not provide legal, financial, or accounting advice. Seek professional counsel.

Furthermore, we, as insurance producers, are prohibited by law from disparaging the insurance industry, carriers, other producers, etc. With that in mind, we provide links without staking out positions that violate the law. We provide them solely from a public-policy standpoint wherein we encourage our industry to be sure our profits, etc., are fair and balanced.

We do not necessarily fact checked the contents of every linked article or page, etc.

If we were to conclude any part or parts of our industry are in violation of fundamental fairness and the legal standards of a state or states, we'd address the issue through proper, legal channels. We trust you understand.

The laws that tie our tongues, so to speak, are designed to keep the public from losing confidence in the industry and the regulatory system overseeing it. Insurance commissioners around the country work very hard to analyze rates and to not allow the industry to be damaged by bad rate-settings and changes in coverages. The proper way for people in the industry to deal with such matters is by adhering to the laws, rules, and regulations of the applicable states and within industry associations where such matters may be discussed in private without giving the industry unnecessary black eyes. Ethics is very high on the list in the insurance industry, and we don't want to lose the people's trust. That said, the industry is not perfect; but what industry is?

For our part, we believe in strong regulations and strong regulators.

We welcome your comments and ask you to keep in mind that we cannot and will not reply in any way or ways where any insurance commissioner could rightly say we've violated the law of the given state.

We are allowed to share rating-bureau data/reports and industry-consultant opinions but make clear here that those opinions are theirs and do not necessarily reflect our position.