Jason Van Steenwyk has been writing professionally about personal finance and investments since 1999. He first learned the trade as a staff reporter with Mutual Funds Magazine, part of the FORTUNE Group of magazines at Time, Inc. While there, he also served as managing editor of Investors’ Digest, a monthly compilation of the best in investment newsletter writing, published by the Institute for Econometric Research. He was also a contributing editor to Market Logic, Income Fund Outlook, Mutual Fund Buyers Guide and The Insiders. In addition to his work for Mutual Funds, Jason has published feature articles in many financial consumer and trade publications, including Wealth and Retirement Planner, Registered Representative, Annuity Selling Guide, Bankrate.com, Senior Market Advisor, and many more. Born in Santa Monica, California, Jason was raised mostly on the windward side of Oahu, a suburban and rural area of the Hawaiian Islands. He took an interest in real estate from observing the unique economy and real estate market of Hawaii and the complex interplay of land and power in an island economy. Jason is a full-time freelance writer and editor, an avid guitarist and fiddle player, and a career officer with the Florida Army National Guard. He lives in Fort Lauderdale, Florida with his cat, Sasha, and an unknown number of musical instruments.
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For the first time in what seems like half a decade, housing inventories are down. Way down. In fact, according to reporting by the New York Times, citing the National Association of Realtors®, the number of homes currently for sale is the lowest it’s been since 1999. A surge in demand for single-family homes – fueled by rock-bottom interest rates on . . .
Read more about Flipping Properties in a Buyer’s Market
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This week, I wanted to take a closer look at real estate tax questions that begin with the phrase, “Can I deduct,” and then mention the cost of fixing or upgrading something in the house. Sometimes the writer mentions that it’s a personal residence, and other times the writer doesn’t specify whether the property is a personal residence, an investment property, . . .
Read more about Deductions for Personal and Investment Property
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Ed DeMarco, the acting head of the Federal Housing Finance Agency, has resisted calls for widespread principal reductions on struggling, underwater mortgages. As the agency’s acting chairman, DeMarco is essentially the conservator responsible for preserving Fannie Mae and Freddy Mac. That’s nothing new. DeMarco’s been a target of their ire for some time. . . .
Read more about The Principle of Moral Hazard
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It’s human nature to want to amass as many tax deductions as you can when you purchase a home. Many taxpayers, though, are too aggressive, confusing personal property and investment property tax rules. They wind up trying to take deductions they are not entitled to, risking fines and penalties (and perhaps missing other tax breaks). It is vital to . . .
Read more about Homebuyer Tax Deductions
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Welcome back to our Tax Corner column – where we take your tough, real estate-related tax conundrums and bring them to the attention of some of the top tax professionals in the country. Today’s question, along with a couple of follow-ups, comes from a reader named Heidi: “I bought a house in another state. I intend to move into it as soon as I can find a job in that area . . .
Read more about Deducting Losses From Money-Losing Rentals
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Some people begin flipping properties for side money. Other people get pushed into it because of a job loss or other life-changing circumstance. In some cases, the temptation to raid a 401(k) or other retirement account is very strong. After all, for many workers, their 401(k) is the largest asset they have. It’s a ready source of capital – sort of. And when jobs are . . .
Read more about Using a 401(k) to Flip Houses
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Over the last year, a great struggle occurred between big lenders on one hand, and ordinary homeowners on the other. The battle reached its climax in February. And it’s no surprise who won and who lost. The Federal Housing Finance Authority voted not to reform a controversial arrangement in which favored insurers routed rebates, or kickbacks, to lenders . . .
Read more about Force-Placed Insurance
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This week’s Tax Corner question comes to us from Rick Chase, who posted the question in a column on the taxation of real estate flipping: “I am new to real estate investing and recently purchased rental properties held by two separate LLCs. One of the LLCs is held in a self-directed IRA, and the other LLC is not held in an IRA. My question is not about taxation of . . .
Read more about Depreciation on Investment Properties
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Ask anyone who’s been in real estate for a while. They’ll tell you: They spend a bunch of time working with a buyer. They’ve identified their needs and wants, carted them around town, blown a couple of high-payoff Saturdays, and found a place they like – only to find they can’t qualify for a mortgage. That wastes agents’ time, it wastes your time, and . . .
Read more about Prequalifying Your Buyers
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Two Democratic senators, Sen. Robert Menendez of New Jersey and Sen. Barbara Boxer of California, have reintroduced legislation that would create a new, expanded version of HARP, or the Home Affordable Refinance Program. The original HARP, and its expanded successor HARP 2.0, helped fuel the refinancing boom that propped up the mortgage and . . .
Read more about The Home Affordable Refinance Program
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