Most homeowners are very aware that mortgage interest can often be a deduction from their income taxes. The maximum outstanding mortgage debt for which interest is deductible is $1 million. The maximum outstanding home equity debt for which interest is deductible is $100,000. http://www.irs.gov/publications/p936/ar02.html Deductions for premiums for mortgage insurance (PMI) are not as well […]
Tax Savings of Home Ownership Read More »
The improving job market should continue to drive demand for housing up in 2013. The Milken Institute ranked the San Jose – Sunnyvale – Santa Clara metropolitan area as the #1 ranked city for creating and sustaining jobs and economic growth in 2012. This metropolitan area was ranked #51 in 2011. The economic downturn of
Rising Home Prices in 2013 ? Read More »
Many homeowners living near the Caltrain tracks have been wanting the High Speed Rail to be built in a way which improves their neighborhoods. Trenched, tunneled, and raised tracks have all been discussed. A recent blog post probably shows the future. It looks like raised tracks are likely in south Palo Alto. The Caltrain HSR
High Speed Rail – road crossings Read More »
Buying a home which needs renovation can be challenging. Lenders provide limited and expensive mortgages on homes which are in poor condition. The FHA 203(k) backed loans protect lenders by having the loan insured before the condition and value of the property provides adequate security. This reduces the cost to the borrower. The program enables
FHA 203(k) Loans – purchase (or refinance) and renovate Read More »
The attendance boundary between Addison and Walter Hays Elementary Schools is expected to be changed and finalized Jan 29. The proposed boundary change moves the west boundary of Walter Hays over to Kingsley Ave plus adds the area bounded by Middlefield Rd, Channing Ave, and Mellville Ave to Walter Hays. Dozens of students have been
Palo Alto Schools – Addison Boundary Change Read More »
