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John L. Scott Real Estate JavaScript must be enabled in order for you to use this site. However, it seems JavaScript is either disabled or not supported by your browser. To use JohnLScott.com, enable JavaScript by changing your browser options, and then refresh this page. STATE COUNTY / AREA Select --- METRO / CITY --- PRICE FROM No Min $50,000 $60,000 $70,000 $80,000 $90,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $550,000 $600,000 $650,000 $700,000 $750,000 $800,000 $850,000 $900,000 $950,000 $1,000,000 $1,100,000 $1,200,000 $1,300,000 $1,400,000 $1,500,000 $1,600,000 $1,700,000 $1,800,000 $1,900,000 $2,000,000 PRICE TO $50,000 $60,000 $70,000 $80,000 $90,000 $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $550,000 $600,000 $650,000 $700,000 $750,000 $800,000 $850,000 $900,000 $950,000 $1,000,000 $1,100,000 $1,200,000 $1,300,000 $1,400,000 $1,500,000 $1,600,000 $1,700,000 $1,800,000 $1,900,000 $2,000,000 No Max BEDROOMS BATHROOMS No Min 1+ 2+ 3+ 4+ 5+ 6+ No Min 1+ 2+ 3+ 4+ 5+ 6+ Advanced Search -- OR -- MLS# /PROP CODE RATES 30Yr fix/.625pts 6.000% APR 6.127% 15Yr fix/1pts 5.625% APR 5.894% 5/1 ARM/.625pts 5.750% APR 5.329% Disclosure -- Select a state or click on the national map for homes outside the NW. -- Find out how much you can afford. RATES 30Yr fix/.625pts 6.000% APR 6.127% 15Yr fix/1pts 5.625% APR 5.894% 5/1 ARM/.625pts 5.750% APR 5.329% Disclosure -- Everything you need to know about buying, selling and maintaining a home. Serving the needs of children and families. -- The easy way to find homes for sale in your desired neigborhood. Start a Search -- EMAIL ADDRESS PASSWORD Forgot ID or Password? Remember me Save searches & listings Receive new listings alerts Specify your agent Learn More Home | About John L. Scott | Site Map | Privacy Policy © 2001-2005John L.Scott Real Estate

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Tax Deductions for Rental Property Home | About Us | Office Locator | Tax Resource Center | Investor Relations | FAQ | Contact Us | Site Map Tax Resource Center Tax Forms Tax Changes Tax Tips Deductions@Work Tax Calculators Tax Links What to Bring Checklist Top 50 Overlooked Deductions Top Overlooked Credits Tax Topics Disasters and Casualties Tax Education Tax Glossary Tax Trivia for Tax Year 2005 Home : Tax Resource Center : Tax Topics Rental Property If you own rental real estate, you should know how it impacts your personal tax return. Rental income must be reported on your tax return, and generally, associated expenses can be deducted from your rental income. Reviewing answers to the following common questions regarding rental property may help you understand the tax implications of rental property ownership: What is considered rental income? What deductions can I take as an owner of rental property? What are some things I should know about rental property? Contact your local Jackson Hewitt office for more information or assistance. Use the Office Locator feature available on this Web site or call 1-800-234-1040 to find the Jackson Hewitt location most convenient to you. What is considered rental income? Rental income is any income you receive for the use or occupancy of property you own. Some examples are: Rent Payment to cancel a lease Advance rent Expenses paid by the tenant Any security deposit kept because a tenant did not fulfill their part of the rental agreement Do not include: A security deposit you are holding with the intent of returning it to the tenant at the end of the lease Income received from renting your home for fewer than 15 days per year Back to Top What deductions can I take as an owner of rental property? Deductible expenses for rental property are the ordinary and necessary expenses to manage, conserve, and maintain your property. Deductible expenses include: Advertising in the newspaper for tenants and cost of signs Cleaning supplies Real estate taxes Mortgage and other interest paid for the rental property Cost of insurance-hazard, flood, fire, or liability Payments for service such as lawn care, pest control, and trash collection Payments for maintenance of the property Professional fees for tax advice and tax return preparation fees for the part of the tax return dealing with rental property Cost of new locks and keys Commissions paid for finding tenants Cost of necessary transportation to and from the rental property for the purpose of maintenance, management, rent collection, picking up supplies, or checking the property (if you use your personal vehicle, either keep track of actual expenses and miles traveled or just the miles traveled) Cost of repairs and maintenance (not improvements) to keep your property in good condition (this includes items such as repainting and fixing floors and windows) Cost of renting equipment used for the rental property Depreciation of the property (not including the land) Depreciation of appliances, furnishings, and improvements Any long distance calls associated with your rental property The court costs for evicting a tenant Legal fees pertaining to the rental property or tenants Utilities Expenses incurred when the property is not rented as long as you are actively trying to rent the property (even if you are renting it for the first time) You cannot deduct: Rental income lost due to vacancy The cost of improvements which increase the value and/or extend the life of the property or modify it for a new use (includes such things as a room addition, new carpet, new appliances, fencing, or a new roof - these items can generally be depreciated) Back to Top What Are Some Things I Should Know About Rental Property? If you rent only part of your property, certain expenses must be divided between the part used as rental property and the part used for personal purposes. If you do not rent your property for profit, you can deduct your rental expenses only up to the amount of your rental income. When rental property is sold, the resulting gain or loss is treated as ordinary or capital, depending on the circumstances. The rental of personal property such as equipment or vehicles is reported as business income. You are in the business of renting personal property if the primary purpose for renting the property is income or profit and you are involved in the activity on a continuous and regular basis. If your rental of personal property is not a business, other rules for reporting will apply. Losses from residential rental properties are subject to certain limitations. If you are considered a real estate professional, special rules apply for the reporting of income and losses. For more information, contact your local Jackson Hewitt Tax Service office. Back to Top Back to Tax Topics Tax Tips CASUALTY AND THEFT LOSS - AUTO If you have been involved in an automobile accident, the damage to your car may be considered a casualty loss. This would apply if the loss were not due to your negligence or the negligence of someone driving your vehicle. The loss must first be reduced by any insurance or other reimbursement plus $100, and then by 10% of your adjusted gross income. home | about us | tax news | tackle your taxes | learn & earn | own a franchise | work with us | privacy/terms of use © 2004 Jackson Hewitt Inc. All rights reserved.

real estate investing Being

Getting real about real estate investing - Nov. 17, 2004 Web CNN/Money Buying & Selling Investment Property Home Improvement Million $ Life Financing Best Places Getting real about real estate investing Being a landlord can be profitable -- or a big headache. Take some advice from these investors. November 17, 2004: 4:03 PM EST By Jon Birger , MONEY Magazine. Additional reporting by Joan Caplin and Amy Feldman. NEW YORK (MONEY Magazine) - Successful real estate investors sometimes make what they do sound almost too easy. "Rentals freed me from ever having to get a job again," says Orlando Rodriguez, a 38-year-old San Antonio landlord who makes about $100,000 a year off the 90 apartments he owns. "I'm a high school dropout -- seventh-grade dropout, actually -- so my story should tell people this isn't rocket science." Yes, landlording isn't science (which is not to say it isn't often a lot of hard work), but if you're willing to put in the time and effort, buying and operating rental properties can pay off big. Try this math on for size: You purchase a $100,000 condominium with $30,000 down and a $70,000 mortgage. If the condo rents for $1,200 a month, your net profits -- after costs such as mortgage, maintenance and property taxes -- should be in the $2,000-a-year range. Conservatively invested, that sum should earn enough to pay off the entire mortgage within 14 years. You'd have turned $30,000 in equity into $100,000, even if rents didn't go up and property values didn't appreciate. Factor in 4 percent annual rent increases and price appreciation, and the property's net value to the owner would be closer to $200,000. A stock fund would need to return 15 percent a year for 14 years to beat that performance -- and funds don't give you any of the tax breaks that can come with being a property owner. The key thing to remember, though, is that buying rental properties is not for point-and-click investors. Even landlords who hire out the plumbing, painting and rent collection to contractors and management companies typically make a big time commitment. Rick Lionhardt of Dallas, a 55-year-old retired telecom worker, owns 33 properties with wife Helen, 49, a secretary. Even when he was working full time, Lionhardt says, he spent 70 to 80 hours a week on real estate. "I'd make calls during lunch and drive around at night looking for more things to buy." For the first-time landlord, there is plenty to learn -- about taxes, financing, dealing with difficult tenants -- and usually there are many mistakes to be made. The payoff can be terrific though, even for investors who own just one or two properties. Doing it right will get you extra income now and a valuable addition to your retirement nest egg down the road. What does "doing it right" mean? Read on for some key tips and secrets -- as well as pitfalls to avoid -- from successful investors who had to learn the hard way. Know how to take your market's temperature. When considering a rental property, your top concern should be whether you can make money renting it out now, not how much its price might appreciate in the future (although that's important too). All you're doing is speculating on real estate prices if you're shelling out more than you're taking in -- and that can be dangerous, especially if you're doing it with borrowed money. "You never want to buy a property where every month you have to feed it," says Neil Binder, co-founder of New York City's Bellmarc Realty. So before you buy, add up your projected property taxes, mortgage payments and maintenance costs, and make sure the total is less than your expected rental income. Experienced real estate investors say they generally look to pay anywhere from 45 to 85 times monthly rent for a property. That means annual rental revenue should be about 15 to 25 percent of the property's value. Finding places with those kinds of yields can be difficult. Take California, probably the most bubblicious market in the country. A condominium renting for $1,200 a month in Southern California sells for $350,000 today, according to veteran California real estate investor Bruce Norris. A $1,200-a-month condo in the Dallas/Fort Worth area can be had for $95,000. To a landlord, that's the difference between an annual return on investment of 4 percent vs. 15 percent. Mortgages and home equity loans Search for rates from hundreds of lenders. No points only Select Loan: Select a Mortgage 15 Yr Fixed Jumbo - $385K 15 Yr Fixed Conforming - $165K 30 Yr Fixed Conforming - $165K 30 Yr Fixed Jumbo - $385K 1 Yr ARM Conforming - $165K 1 Yr ARM Jumbo - $385K 3/1 Yr ARM Conforming - $165K 3/1 ARM Jumbo - $385K 5/1 Yr ARM Conforming - $165K 5/1 ARM Jumbo - $385K 7/1 Yr ARM Conforming - $165K ARM Jumbo - $385K State: Select State Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington DC Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming "The only reason you'd be a California landlord at today's prices is because you're expecting price appreciation," says Norris, who thinks prices in the state are due for a fall. "Monthly cash flow would be almost impossible to achieve without an enormous down payment." Another tool experienced investors use to measure the profitability of a market is price-to-rent -- that is, the ratio of median home price to annual rent for three-bedroom homes. The bigger the number, the less likely you are to make money as a landlord. California has a price-to-rent ratio of 25 these days, the highest in the country. Hawaii (23) is second from the top, and Massachusetts (19) is third. Far more inviting to investors are states like Delaware, Missouri, Texas and Vermont, where the price-to-rent ratios are 11 or 12. For more information on median home prices and market rents in your area, visit realtor.org and huduser.org . Find smart ways to cut your financing costs. Borrowing to buy real estate as an investment is more expensive than borrowing to buy a home. Lenders generally think they are taking more of a risk on buildings that the owner doesn't live in. Consequently, the interest rates they charge tend to be 0.5 percentage points or more above those for traditional home mortgages. Not only that, but borrowers need excellent credit scores to qualify for the lowest rates. In addition, the minimum down payment is usually 20 or 25 percent, instead of the 10 percent for standard home mortgages. There are a couple of ways around the higher rates and steeper down payments. To qualify for a traditional mortgage, you are required by most lenders to live in the property for a minimum of one year. But there's nothing stopping you from buying a home or a condo with a traditional mortgage, living in it for a year and then renting it out afterward. YOUR E-MAIL ALERTS Mortgages Personal Debt Real Estate Loan Markets or Create your own Manage alerts | What is this? If the down payment rather than the rate is the stumbling block, ask the seller whether he's willing to self-finance the mortgage. With owner financing, the buyer signs a promissory note in which he agrees to make his mortgage payments directly to the seller. In exchange for forgoing a down payment, the seller typically gets a premium rate -- 8 to 10 percent, perhaps. Why would a seller take the additional risk implicit in skipping the down payment? "It's a lot faster to sell a house owner-financed than conventionally," says San Antonio landlord Rodriguez. (There are also brokers who buy owner-financed notes from sellers who want their money up front.) Click here to learn about interest-only mortgages and some of their advantages. Learn to take advantage of the many tax breaks. For tax purposes, what you make in rent is generally taxable as regular income. Real estate taxes and mortgage interest on an investment property are fully tax deductible though. Operating expenses such as utilities, insurance, repairs and condominium common charges are also deductible. So are rental fees paid to brokers, although they must be spread out over the life of the lease. Even better, the federal tax code entitles rental-property owners to a depreciation deduction even though housing prices usually go up, not down, over time. (There are, however, numerous conditions and catches, which is why it is essential to consult a tax adviser before you invest a cent.) Anticipate problems (they will be numerous). Reliable, prompt-paying tenants do up and leave suddenly. Minor leaks have a way of becoming expensive repair jobs. That's why it's smart to line up inspectors and contractors before you buy. And why it's important to establish rainy-day funds. Two or three months' rent is usually -- but not always -- sufficient. Just ask Marla Renee, a 55-year-old semiretired hairdresser who owns six rental properties in the Detroit area. Five years ago Renee bought a run-down duplex for $28,000. She figured the house needed $10,000 worth of work, but three months later the tally was nearly three times that. "The last tenant had turned on the water on purpose and flooded the whole place," she says. "The floor, ceiling and walls were all messed up." Finally, don't skimp on fees should you decide to hire a management company to tend to your rental property. The typical fee is 5 to 10 percent of rental income. Experienced landlords say it's not worth it to be cheap: Property managers often work harder to fill vacancies and to maximize rent when they are better compensated. Put potential tenants under the microscope. Picking tenants may ultimately be the most important real estate decision you make. This is where listening to the voices of experience really pays off -- although you should be discreet about how you apply their lessons. Elderly people are better tenants than college kids, as everyone knows, but in many states, landlords acting on that type of common sense judgment would be running afoul of fair-housing laws. Michelle Bizik, 35, of Lake Ariel, Pa. owns two small apartment buildings with her husband Goran, 30. For the most part, they've had lots of success finding good tenants. They require potential renters to provide Social Security numbers, ostensibly for criminal and credit background checks (which are a good idea), but Bizik says it's more about renters proving to her that they have nothing to hide. She also checks references with employers and prior landlords. If prospects pass those tests, she and her husband always meet them in person. "I need to get a vibe off of them," she explains. These are all good ideas for screening tenants. Here are a couple more. When checking references, don't stop with the most recent landlord. Contact the second or third most recent as well. "The current landlord may just want him out of the property," says Ellis San Jose, a 39-year-old real estate investor from Los Angeles. Also, consider making an unannounced visit to the prospect's current residence. Marcia Glantz, a Coldwell Banker broker for 27 years in Yorktown, N.Y., says, "Explain that your house is important to you, and that you want to get a sense for how they live." Saying no can be tough when a vacancy is burning a hole in your wallet. Stay strong. The one time Michelle Bizik caved proved to be a big mistake. "We were both against him," she recalls, "but the apartment was empty and he was a friend of another tenant." Soon after the guy moved in, his pregnant girlfriend, five cats and two friends did too. And he was late with the rent. "All the tenants were complaining," Bizik says. "The hall smelled like cat urine. The music was so loud, tenants were calling me at 11 o'clock at night." The Biziks offered to pay him to leave. He declined, so they had to go through the aggravation and expense of having him evicted. Think about investing in REITs instead. If you want to buy into real estate but don't want to deal with all the headaches that can come with managing it, you may want to consider a real estate investment trust (REIT). These are publicly traded building-management companies that pass the bulk of their earnings on to shareholders in the form of hefty dividends. That makes them a great choice for retirees and other income-hungry investors. One catch is that REIT dividends are taxed at higher rates than regular corporate dividends. REITs offer several advantages over buying properties on your own. First, there are economies of scale: On a per-square-foot basis, REIT maintenance costs are much lower than those of most individual landlords. The management expenses of a typical REIT are only 0.5 percent of total assets under management, says Russell Platt, manager of the Dividend Capital Realty Income fund. Another plus is diversification, since REITs typically invest in many markets and sometimes different types of property -- residential, commercial and retail. And finally, there's liquidity: You can sell a REIT whenever you want, and your brokerage commission will be a drop in the bucket compared with the 6 percent charged by most real estate brokers. A conservative REIT bet would be Equity Residential Properties ( Research ), run by Chicago mogul Sam Zell. Equity Residential is the nation's largest landlord, which makes it something like an index fund for apartment buildings. Earnings have taken a hit lately owing to, among other things, the Florida hurricanes. But occupancy rates have been ticking up, and Equity Residential still offers a juicy 5.1 percent dividend yield. A more aggressive play is Archstone-Smith Trust ( Research ), an apartment building owner with a big presence in suburban Washington, D.C. and other East Coast markets. Archstone-Smith also has a dividend yield of 5.1 percent. The company has profits from condo conversions, and high occupancy rates, which put it in a good position to raise rents. And that's a very nice position for any landlord to be in. --* Disclaimer Try an issue of MONEY magazine - FREE! More on REAL ESTATE • How to buy and build on rural land • Most overvalued housing markets • When booms go bust... TODAY'S TOP STORIES • Most overvalued housing markets • Risks to the economy in 2006 • Which was the worst ad of all in 2005? CNN Money contact us | subscribe to Money magazine advertising -- | site map | glossary | RSS | press room OTHER NEWS: CNN | SI | Fortune | Business 2.0 | Time © 2005 Cable News Network LP, LLLP. A Time Warner Company ALL RIGHTS RESERVED. 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DOE Building Technologies Program: Homes Search Help More Search Options Search Site Map Subject Index -- EERE Information Center Homes Building America Projects Your State Energy Office Energy Savers Website Home Energy Saver Tool Virtual Home Navigator Consumer Energy Information Efficient Windows Home Energy magazine Real Goods Ways to Save Use a programmable thermostat to control the heating and cooling in your home Compare your energy use against the national average Conduct a home energy audit to determine the largest savings potential Install energy efficient lighting such as compact fluorescent lamps (CFLs) Hire a professional to help you insulate and repair your ducts Need help lowering your energy bills? As many as 30 million low-income families in the U.S. are eligible for home weatherization help. Visit the Weatherization Assistance Program web site for information Homes Use Energy Like It's Going Out of Style The typical U.S. family spends $1,300 a year on home energy bills, and some of that energy is wasted. Heating, ventilating and air conditioning units are inefficient, windows leak conditioned air, and appliances devour energy. This is money out of your pocket, and it's bad news for the environment—electricity generated by fossil fuels for a single home puts more carbon dioxide into the air than two average cars. Building Energy-Efficient New Homes New home construction presents an opportunity to incorporate energy-saving features right from the start. Across the nation, savvy homeowners and home builders are demonstrating that energy-smart building choices can help homeowners save on energy bills and, at the same time, give homebuilders a competitive advantage. The Good News? Well, maybe using so much energy—especially in the form of fossil fuels—is going out of style. Homeowners and renters know that saving energy means saving money, and they're realizing that it does not mean sacrificing functionality. There are many things you can do to save energy, ranging from long-term investments to simple no- or low-cost changes. In fact, simple adjustments—like letting your dishes air dry—add up to significant savings. Looking for long-term savings? Because we use-and waste-energy in so many ways, there are plenty of options for cutting back. If you replace 25% of your lights in high-use areas with fluorescents, you can save about 50% of your lighting energy bill. In the market for a new appliance? Invest a little extra money in an energy-efficient product and save more money in the long run. If you're building an addition to your home, double-paned windows and proper insulation will reduce your heating and cooling costs, and strategically placed windows will provide daylighting. From water heating to landscaping, most areas of your home offer opportunities to save. But we will always need energy, and that's why many homeowners are turning to renewable energy sources for a cleaner, more sustainable choice. This can mean investing in solar panels to supply your home's electricity or purchasing a solar water heater. It can also mean installing ground source heat pumps that use the heat of the earth to moderate the temperature of your home. In many areas, utility companies offer clean energy options such as wind power. And that's not all. While you're at the business of saving money, you'll help reduce dependence on fossil fuels, which increases domestic security. You'll also help the environment. In 2000, residences accounted for 20% of U.S. energy-related carbon dioxide emissions—that's 313.4 million metric tons of carbon dioxide. Saving energy also goes hand in hand with other sustainable choices, like saving water and using more friendly materials and products, like paint, carpet, and cleaners. This is good news for the environment, but it also improves the health of your home, so you can breathe easy. So, where to start? A home energy audit will help you determine what changes will save the most energy and money. If you'd like an overview of energy use in homes, check out the Virtual Home Navigator . Energy Savers is full of useful tips for saving energy, and Home Energy Saver allows you to plug in specific information about your home to find out where you have the most potential for savings. By now, chances are you've come up with a much better way to spend your money than sending it out your single-paned window. A college savings fund, perhaps, or a water-saving clothes washer? Or how about that vacation you've been dreaming about? Printable Version Webmaster | Security & Privacy | Building Technologies Program Home | EERE Home U.S. Department of Energy Content Last Updated: 07/08/2004

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Estate Agents, Property Advertising, Selling House / Home | Frequently Asked Frequently Asked Submit Articles Baby Gifts Education eMarketing Estate Agent Gift Baskets Hard Money Management Offshore Pearls Submersibles Surveys Syndicate Home Estate Agents, Property Advertising, Selling House / Home Submitted by fathom on Tue, 10/26/2004 - 06:32. Property Advertising House Network Limited provides a professional face to buying and selling homes and commercial estates and property at affordable rates. Recent surveys overwhelming showed that 66% of house buyers confirmed the use of the internet to find and investigate the purchasing of property and residential sales. House Network services United Kingdom and has invested in partnering with other innovative realitors in Europe and overseas to provide a anytime, anything affordable network of real estate buying and selling alternatives. Recent articles submissions by HouseNetwork: Coventry UK Estate Agent Selling Property Lincoln UK Estate Agent Selling Property Norwich UK Estate Agent Selling Property Portsmouth UK Estate Agent Selling Property Swansea UK Estate Agent Selling Property Leeds UK Estate Agents - Buying / Selling Home London UK Estate Agents - Buying / Selling Home Nottingham UK Estate Agents - Buying / Selling Home Reading UK Estate Agents - Buying / Selling Home Estate Agents - Fees Are They Coming Down? First Time Buyers Guide - Buying Your First Home Buy To Let Investments Sell Your Home Top 5 Help Tips Sell Your Home - Avoid Chains Buying a Home: What to Look for? Sell Your Home Privately Home Selling Price Online Estate Agent User login Username: Password: Create new account Request new password Frequently Asked info is the property of Sphericom , Spherinet & Spherica Incorporated. / Estate Agents / Baby Gifts / Baby Gift / Medical / Hard Money / Gifts - Gifts Forum / Suppliers - IND Suppliers / Gift Baskets - A Timeless Basket / Gift Baskets - Oregon Gourmet Foods / Pearl Jewelry - Pearl Luster / Baby Gifts - Cuddles 'n Gifts / Birthday Gift Baskets - Lasting Impressions / Coffee Baskets - Gift Basket Hugs / Pearls - Pearl Luster / Fruit Gift Baskets - The Gift Basket Cafe / Romantic Gift Baskets - Simply Elegant Gift Baskets / Birthday Gifts - Gifted by the Basket / Pets - Pet Shopurr / Chocolate / Estate Agent / Surveys / Fitness Trainers / Foods / Maple / Surveys / Research