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Texas landscapes of our

American Farmland Trust Texas region Texas Special Report Going, Going, Gone: The impact of land fragmentation on Texas agriculture and wildlife The Texas of legend, and of our memories, is a land of vast, wide open spaces. The reality, however, is that over the last 30 years, the average size of land ownership—the average acreage of land holdings—in Texas has been shrinking dramatically. A March, 2003 report from Texas Cooperative Extension of the Texas A&M University System and American Farmland Trust, entitled Texas Rural Lands: Trends and Conservation Implications for the 21st Century [ More ] , assesses the extent of land fragmentation in Texas and identifies predictors that warn of areas around the state most at risk for fragmentation. The report also examines how effective a purchase of development rights program may be in stemming the tide of land fragmentation in Texas. ( More information on PDR in Texas) Going, Going, Gone: The Impact of Land Fragmentation on Texas Agriculture and Wildlife summarizes some of the findings of that report, by discussing the effect of land fragmentation on our citizens, wildlife, farming, ranching and water supplies. This 12-page study also outlines recommendations made by American Farmland Trust with an eye toward conserving family lands and the Texas landscapes of our memory. To accommodate new landowners, the vast farms and famous Texas ranches are being rapidly splintered into smaller and smaller pieces. Each year since 1970, about 1,000 new farms and ranches have been established in Texas. At the same time, the total area devoted to agricultural uses declined by almost 3 million acres. That's 33,000 more farms and ranches on 3 million fewer acres. This process is part of a trend known as land fragmentation. ( Look at a map of Texas' most fragmented counties) Those new "ranchettes" are typically too small for traditional farming, ranching or forestry. But that's fine with most new landowners who have limited interest in working the land. Instead, they want a place where they can escape the crowds and noise of urban life. They want to do a little hunting, explore the countryside, own a few cattle and reconnect with the spirit of the old West. One recent survey of new landowners by the Texas A&M University's Real Estate Center found that 80 percent of buyers said that finding land for non-agricultural uses, like hunting, fishing and other recreation were "very important" motives for their purchase. Sadly, this rush to embrace the land may be ruining it. Thousands of new "ranchettes" are gobbling up open space and degrading wildlife habitat, while at the same time depleting and polluting scarce water resources. The most vivid examples of this phenomenon can be found in the more populous eastern half of the state and on the outskirts of just about any major city. From 1992 to 2001, over half a million acres of farm and ranchland in twenty-five Texas counties were converted to land uses other than agriculture. While this loss due to "urban sprawl" was primarily confined to the fringes of our major metropolitan areas, the fragmentation of agricultural lands into smaller ownerships has occurred in areas that have not been affected by urban sprawl. Fragmentation is starting to eat away at large ownerships even in areas such as the Trans Pecos and South Texas, which seem the very definition of "wide open spaces." This fragmentation is likely to continue in some of the most rural areas of the state where natural amenities such as recreation potential and scenic beauty are in high demand. Texas Rural Lands: Trends and Conservation Implications for the 21st Century examined the issue of land fragmentation and its impact on land uses across the state and found that this phenomenon is rapidly transforming Texas. The changes often go unnoticed by the average Texan, but those close to the land see the consequences. Things are changing. Follow the links below to view the rest of the report. Or download a PDF of the full report here . Look at the Texas Land Trends interactive report here . For more information on both reports, contact: Bob Wagner American Farmland Trust 1 Short Street Northampton, MA 01060 413-586-4593 Texas Regional home page AFT's Press Release on Going, Going, Gone Fragmentation study overview New Breed of Landowners Ranches and Wildlife Water Worries A PDR program for Texas Recommendations Charts and Graphs 1200 18th Street, NW, Suite 800 Washington, DC 20036 info@farmland.org 202-331-7300 202-659-8339 (f) [ << AFT Home ]

Real Estate Brokerage: A

Real Estate Broker's Insider: Resources for residential real estate agency management Publications Real Estate Broker’s Insider The Big Book of Real Estate Ads The Complete Recruiter CrossCoaching Power Real Estate Letters Real Estate Brokerage: A Management Guide Real Estate Office Management Free REBI Resources Events Calendar Links Press Room Contact Us Contact a Customer Service Representative Order a Publication Order Back Issues Request a Complimentary Newsletter Real Estate Broker’s Insider For more than 30 years, in up markets and down, Real Estate Broker’s Insider has helped residential real estate broker/owners grow their businesses and increase their profits. Publications Real Estate Broker’s Insider — Twice each month leading broker/owners and industry experts provide proven strategies and creative new ideas for growing your business. The Big Book of Real Estate Ads — Provides 1001 sample ads that you can use to maximize the effectiveness of your own classified ads. The Complete Recruiter — This comprehensive recruiting program provides everything you need to recruit the best agents at all levels. CrossCoaching — More than managing, more than mentoring, learn how coaching can ensure a fast start for new agents and increased production for experienced agents. Power Real Estate Letters — Includes 279 sample letters, which you can use to effectively communicate with buyers, sellers, lenders, attorneys and others via mail, email or fax. Real Estate Brokerage: A Management Guide — Provides both the experienced broker/owner and the novice a thorough and complete resource covering all aspects of modern agency management. Real Estate Office Management — From the authors’ decades of real estate experience comes a thorough and detailed guide to state-of-the-art office management. Free REBI Resources Checklist for Creating a Successful Yellow Pages Ad — Tips that could make a difference between gaining just a handful of new customers — or hundreds. Secrets to Protecting Your Commissions — Forget about discounting your commissions, learn how to justify your full commission to increasingly price-conscious consumers. Staying Independent in a Consolidating Marketplace — A look at how to survive and thrive without buying into the bigger-is-better theory. What Kind of Appraisal Does Your Customer Need — Learn about the major categories of appraisals and how to determine which one your customers need. Home | Publications | Free REBI Resources Events Calendar | Links | Press Room | Contact Us 2005 Alexander Communications Group, Inc. All Rights Reserved. Real Estate Broker’s Insider 28 West 25th Street — 8th Floor, New York, NY 10010 Telephone: (212) 228-0246, Fax: (212) 228-0376 Website: www.BrokersInsider.com Email: info@BrokersInsider.com www.AlexCommGrp.com Terms of Use — Privacy Policy

Selling Home Plans The

Software Solution - 3D Home Design Suite Professional 5 Shopping Home Technical Support Software Help Customer Service Software Updates Welcome 3D Home Design Suite Professional 5 Technical Note 3D Home Design Suite Professional 5 HomeStyles 1500 Best-Selling Home Plans The HomeStyles 1500 Best-Selling Home Plans is a separate program included with 3D Home Design Suite Profesional 5. The plans available in this program are designed for preview use only and will not open in 3D Home Architect 5.1. Additional information is provided in this technical note. You may preview the plans included with HomeStyles 1500 Best-Selling Home Plans for ideas when developing your own professional quality design plan. The plans in this package may also be available for purchase from HomeStyles. Technical support for HomeStyles 1500 Best-Selling Home Plans is provided by a company other than Broderbund. Support for this product can be reached by using the contact information below. FAX Support: Technical questions can be sent via fax to (651) 602-5002 . Be sure to include the following information: fax number, name, address, the computer system you have, and a detailed summary of the problem. This information will help to decrease the time it takes to respond. E-Mail Support: Technical questions can be sent via e-mail to support@homestyles.com . Technical Note ID: 37142 (Write down the Technical Note ID number for future reference. The ID numbermay be entered in theProduct Search field on the Welcome page to immediately access this technical note in the future.) Did this answer your question? Yes No Did not apply For printer friendly version, click here . Back Product Search Enter your software title or technical note number in thefield below and click Go. General Computer Advice W indows XP Troubleshooting Center Illegal Operation Error Messages More Have a Network Version? Many of our popular titles have versions designed for networks or schools. To get support for a network version, Click Here . -- About Us | Contact Us | Product Support | Our Guarantee | Privacy Policy | Affiliate Program | Terms & Conditions ©2004 Riverdeep Interactive Learning Limited, and its licensors. All rights reserved.

Real Estate Loan

Deductibility of Real-Estate Loan Refinancing Charges Deductibility of Real-Estate Loan Refinancing Charges By Steven V. Melnik E-mail Story Print Story With interest rates at all-time lows, many Americans are refinancing home loans. Because refinancing transactions usually cost thousands of dollars, it is important to know when refinancing expenditures are deductible. Loans Secured by a Principal Residence The IRC defines a principal residence as where the taxpayer spends the most time during any given taxable year. Consequently, principal residence status can change from year to year. As a general rule, taxpayers can deduct points paid for refinancing principal residence loans. IRC section 461(g) defines many fees as points, but only qualifying points are allowed as a deduction. Qualifying points are usually fees paid to the lender for a loan (see the Sidebar for a list of requirements). Loan application, processing, underwriting, and other fees are not deductible. Revenue Procedure 94-27 allows itemized deductions for qualifying points resulting from the purchase of a principal residence. Points paid for refinancing an existing mortgage, however, cannot be immediately deducted. According to IRC section 461(g), those points are deducted over the life of the new loan. To calculate the portion of those points deductible in any particular year, determine the deductible points for each loan payment and multiply by the number of payments made during that year (per payment amortization). For example, consider an individual who paid $1,800 refinancing qualifying points on a principal residence for a 30-year loan requiring 12 payments per year (a total of 360 payments). The $5 allowable deduction for every loan payment is calculated by dividing $1,800 by 360. Six loan payments during the year would result in a $30 itemized deduction, with unamortized points amounting to $1,770. Multiple Refinancing Activities Remaining refinancing points are generally deductible in the year when a second refinancing occurs with a different lender. In the example above, the remaining $1,770 first-loan points would be deductible that year. If the second refinancing is with the same lender, however, the remaining points and any new qualifying points paid would be deductible over the life of the new loan. Points paid during a refinancing transaction are immediately deductible to the extent the new loan is used to substantially improve a principal residence, assuming the requirements listed in the Sidebar are met. Substantial improvements, such as building an addition to a house, qualify. For example, a $60,000 loan from bank B to refinance bank A’s $40,000 loan and a $20,000 house addition would result in one-third of the newly paid qualifying points being deducted that year. Refinancing of Second or Vacation Homes Some Americans are investing in real estate as an alternative to stocks and bonds. Tax rules applicable to vacation and second homes differ from those for primary residences. Points paid for a purchase, substantial improvement, or refinancing of second and vacation homes are generally deductible over the life of the loan. The per-payment amortization method is applicable. Other refinancing-related expenditures increase the tax basis of the home. Rental Properties and Properties Used in a Trade or Business. When refinancing rental properties and properties used in a trade or business, all ordinary and necessary refinancing expenditures are deductible over the life of the loan. Refinance-related expenditures for rental properties are deductible on line 18, Form 1040, Schedule E; for properties used in a trade or business, expenditures are deducted on Form 1040, Schedule C. Other Deductibility Issues When sellers of real estate pay for points on the buyer’s behalf, they are not allowed to deduct those points, but can reduce sales proceeds. Buyers can deduct those points if the property basis is reduced by the same amount. All other refinancing-related expenditures, such as attorney, appraisal, bank, title, and other fees, are not deductible. They do, however, increase the tax basis of the home to the extent they are not deductible. Points are deductible when a cash-basis taxpayer itemizes deductions. Deductibility can be affected, however, when a taxpayer’s adjusted gross income reaches a certain threshold. (The 2003 threshold is $69,750 for married filing separately returns and $139,500 for all others.) The deductibility of refinancing-related expenditures depends upon the type of property securing the refinanced loan, as well as how the loan proceeds are used. The use of the property must be understood, because properties can be used for more than one tax purpose in any given year. It is important to be familiar with the tax consequences of refinancing transactions in order to derive the maximum benefit. Steven V. Melnik, LLM, JD, CPA , is Professor of Tax Law and Director of Graduate Tax Programs at Bernard M. Baruch College, City University of New York. May 2004 Issue Enlarge Cover Features Regulation of Professions by Interstate Compact 20 Questions onTrust, Medicaid, Insurance, and Asset Transfers Accounting for Stock Option Government Procurement Basics More This Issue | Past Issues Home | Contact | Subscribe | Advertise | Archives | NYSSCPA The CPA Journal is broadly recognized as an outstanding, technical-refereed publication aimed at public practitioners, management, educators, and other accounting professionals. It is edited by CPAs for CPAs. 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