Eagle Boise and Meridian Real Estate http://eagleboiserealestate.com All Things Real Estate...and NOT! Sat, 17 Dec 2011 23:47:56 +0000 en hourly 1 http://wordpress.org/?v=3.3 The 3 Amigos Strike Again…Another Fee in Your FHA, Fannie Mae, and Freddie Mac Mortgage! http://eagleboiserealestate.com/2011/12/17/the-3-amigos-strike-again-another-fee-in-your-fha-fannie-mae-and-freddie-mac-mortgage/ http://eagleboiserealestate.com/2011/12/17/the-3-amigos-strike-again-another-fee-in-your-fha-fannie-mae-and-freddie-mac-mortgage/#comments Sat, 17 Dec 2011 23:33:43 +0000 Riccardo http://eagleboiserealestate.com/?p=2969 All of you who are thinking of buying…red alert!  In what I’m sure is infinite wisdom, the Senate has just passed and sent to the House, an increase in mortgage fees that are backed by our beloved 3 Amigos… FHA, Fannie Mae, and Freddie Mac.  In what they have described as an “incentive to go to the private-sector mortgage market” fees totaling approximately $15 per $200K will be loaded on the back end of each loan.  It seems that what this really is is a way to pay for the “payroll tax cut” that has been in the news so prevalently as of late.  I leave it to you to decide if this is a good idea for those of us here in Boise Idaho or just another bumbling kick of the can “down the road”!  For more info on this or any need you may have that is Real Estate related…or NOT, please CONTACT ME and I’ll be happy to help!

Read the full news story HERE.

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]]> http://eagleboiserealestate.com/2011/12/17/the-3-amigos-strike-again-another-fee-in-your-fha-fannie-mae-and-freddie-mac-mortgage/feed/ 1 “Picture Perfect Tuesday” By the Moon Light… http://eagleboiserealestate.com/2011/12/13/picture-perfect-tuesday-by-the-moon-light/ http://eagleboiserealestate.com/2011/12/13/picture-perfect-tuesday-by-the-moon-light/#comments Tue, 13 Dec 2011 15:00:11 +0000 Riccardo http://eagleboiserealestate.com/?p=2939

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]]> http://eagleboiserealestate.com/2011/12/13/picture-perfect-tuesday-by-the-moon-light/feed/ 0 Boise Idaho 6th Least Expensive Commercial Real Estate Market! http://eagleboiserealestate.com/2011/12/12/boise-idaho-6th-least-expensive-commercial-real-estate-market/ http://eagleboiserealestate.com/2011/12/12/boise-idaho-6th-least-expensive-commercial-real-estate-market/#comments Tue, 13 Dec 2011 00:00:23 +0000 Riccardo http://eagleboiserealestate.com/?p=2960 The Building Owners and Managers Association has just named Boise Idaho the 6th least expensive commercial real estate market in the U.S.!  The list is derived from analyzing the operating income and expense data in each specific market.  While this may seem a little underwhelming, in this business climate, we’ll take any good news that we can get!

Get the entire release from the BOMA HERE!

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]]> http://eagleboiserealestate.com/2011/12/12/boise-idaho-6th-least-expensive-commercial-real-estate-market/feed/ 3 “The 5″ in Saguaro Canyon in North Meridian Idaho! http://eagleboiserealestate.com/2011/12/12/the-5-in-saguaro-canyon-in-north-meridian-idaho/ http://eagleboiserealestate.com/2011/12/12/the-5-in-saguaro-canyon-in-north-meridian-idaho/#comments Mon, 12 Dec 2011 18:15:13 +0000 Riccardo http://eagleboiserealestate.com/?p=2945 Here are “The 5″ homes I’ve found for you in Saguaro Canyon in North Meridian Idaho.  The North Meridian area is close to just about everything in The Boise Valley and provides many amenities for those wishing to live in a suburban environment.  I’ve tried to find properties that are a great value with NO bank owned and…NO SHORT SALES!  There are many golf courses that are close and include Foxtail Golf Course and Spurwing Country Club right down Chinden Blvd.  Banbury is also close by as are 4 or 5 more within a 15 minute drive!  Click HERE to see an aerial of the properties in case you are not familiar with the area.  If you would like a market update specific to Saguaro Canyon or if you would like more information on any of these homes, or any others, please CONTACT ME and let’s talk about it!

$189,900 – 3 beds/2 baths/1784sf.
$269,900 - 4 beds/3 baths/2816sf.
$284,900 - 4 beds/2 baths/2296sf.
$314,900 - 4 beds/2.5 baths/2600sf.
$329,900 - 4 beds/2.5 baths/3048sf.

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]]> http://eagleboiserealestate.com/2011/12/12/the-5-in-saguaro-canyon-in-north-meridian-idaho/feed/ 0 Eagle Idaho November 2011 Market Update http://eagleboiserealestate.com/2011/12/09/2899/ http://eagleboiserealestate.com/2011/12/09/2899/#comments Sat, 10 Dec 2011 00:00:45 +0000 Riccardo http://eagleboiserealestate.com/?p=2899

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]]> http://eagleboiserealestate.com/2011/12/09/2899/feed/ 0 The Tax Man Cometh…Yes Even on Short Sales! http://eagleboiserealestate.com/2011/12/09/the-tax-man-cometh-yes-even-on-short-sales/ http://eagleboiserealestate.com/2011/12/09/the-tax-man-cometh-yes-even-on-short-sales/#comments Fri, 09 Dec 2011 16:32:14 +0000 Riccardo http://eagleboiserealestate.com/?p=2903 Well it’s been four years since the beginning of the end of the bubble…and there is no end in sight!  SHORT SALES here in the Boise Valley were at an all time high in 2011 and are expected to be even more prevalent in the coming year.  So, I thought I’d explain the quick and dirty on the tax consequences of a SHORT SALE so you have some idea of what to expect if you find yourself in that unenviable position.

Let’s start right at the  beginning.  CONSULT A TAX PROFESSIONAL!  A SHORT SALE is simply where the total mortgage debt exceeds the net sale proceeds.  In other words, you are under water!  While there are several scenarios that may apply to you I’m only going to cover the SHORT SALE ending in a tax loss or a tax gain on a “principal residence”.  There are also two types of Mortgage Debt, Recourse and Non-Recourse.  The difference between the two being that if you reside in a Non-Recourse state the lenders are unable to require you to be responsible for the deficiency resulting from the SHORT SALE, while in a Recourse state…all bets are off!  FYI, Idaho is a RECOURSE state!  That being said there is a difference between true mortgages and a note and deed of trust, which covers most Idaho home owners.  HERE is about the best explanation I’ve found to lay this all out…although this is an attorney’s website, it’s not so full of “legalese” as to be incomprehensible.  Okay, to the point then:

  1. Tax Gain on SHORT SALE of Principal Residence
    If you bought a home for $100K, sell it for $150K, but owe $200K.  You have a tax gain of $50K and the IRS is not concerned that you are actually $50K in the red.  The loss does not calculate into the tax gain/loss equation.  Luckily the gain is probably federal income tax FREE thanks to the “principal residence gain exclusion break”.  An unmarried person can exclude up to $250K of gain and for those married filing jointly, the amount is $500K.  There are qualifications to this so CONSULT A TAX PROFESSIONAL for further clarification.
  2. Tax Loss on SHORT SALE of Principal Residence
    I’m afraid any loss you incur is NOT deductible as far as the IRS is concerned.  This would only be the case with business or investment properties.  In most states the same applies for state income tax as well.  CONSULT A TAX PROFESSIONAL!

So what happens with all that debt you’ve just incurred?  Well, either the lender will require you to repay it and the IRS is happy with that.  Or, the lender will forgive the debt and the IRS will require income taxes to be paid on what is called “Cancellation of Debt” income…and the IRS is happy with that as well.  You can see the pattern here.

In summary, in case I forgot to suggest this, CONSULT A TAX PROFESSIONAL!  If you would like more information on this or anything else related to real estate or NOT, please feel free to CONTACT ME.

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]]> http://eagleboiserealestate.com/2011/12/09/the-tax-man-cometh-yes-even-on-short-sales/feed/ 1 Northwest Boise Idaho November 2011 Market Update http://eagleboiserealestate.com/2011/12/08/northwest-boise-idaho-november-2011-market-update/ http://eagleboiserealestate.com/2011/12/08/northwest-boise-idaho-november-2011-market-update/#comments Thu, 08 Dec 2011 18:08:42 +0000 Riccardo http://eagleboiserealestate.com/?p=2894

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]]> http://eagleboiserealestate.com/2011/12/08/northwest-boise-idaho-november-2011-market-update/feed/ 0 “Picture Perfect Tuesday” … Children Do The Darnedest Things! http://eagleboiserealestate.com/2011/12/06/picture-perfect-tuesday-children-do-the-darnedest-things/ http://eagleboiserealestate.com/2011/12/06/picture-perfect-tuesday-children-do-the-darnedest-things/#comments Tue, 06 Dec 2011 15:00:56 +0000 Riccardo http://eagleboiserealestate.com/?p=2889

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]]> http://eagleboiserealestate.com/2011/12/06/picture-perfect-tuesday-children-do-the-darnedest-things/feed/ 0 Northend / North Boise Idaho November 2011 Market Update http://eagleboiserealestate.com/2011/12/01/northend-north-boise-idaho-november-2011-market-update/ http://eagleboiserealestate.com/2011/12/01/northend-north-boise-idaho-november-2011-market-update/#comments Thu, 01 Dec 2011 18:55:27 +0000 Riccardo http://eagleboiserealestate.com/?p=2883

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]]> http://eagleboiserealestate.com/2011/12/01/northend-north-boise-idaho-november-2011-market-update/feed/ 0 “The 5″ on the North (Quiet) Side of Eagle Idaho! http://eagleboiserealestate.com/2011/11/30/the-5-on-the-north-quiet-side-of-eagle-idaho/ http://eagleboiserealestate.com/2011/11/30/the-5-on-the-north-quiet-side-of-eagle-idaho/#comments Wed, 30 Nov 2011 15:00:40 +0000 Riccardo http://eagleboiserealestate.com/?p=2870 This is a selection of “5″ homes from the Kathleen Estates, Senora Creek, and Copperfield subdivisions on the “quiet” side of North Eagle Idaho.  The quiet side of Eagle is an area full of warm communities, wonderful properties, and great views of the Boise Foothills and the Owyhees!   As usual I’ve tried to find properties that are a great value with NO bank owned and…NO SHORT SALES!  Click HERE to see an aerial of the properties in case you are not familiar with the area.  If you would like a market update specific to Eagle Idaho or if you would like more information on any of these homes, or any others, please CONTACT ME and I’ll be happy to get that to you!

$279,900 - 4 beds/2.5 baths/1960sf.
$295,510 – 5 beds/4.5 baths/2957sf.
$296,550 - 4 beds/3.5 baths/3108sf.
$301,490 - 3 beds/2.5 baths/3105sf.
$439,993 - 4 beds/3.5 baths/3835sf.

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