What Makes a Tax Free Deal a Real Deal?

Hugh Bromma - What Makes a Tax Free Deal a Real Deal?: "Over the last year, a number of interesting questions have come up about tax free real estate deals. Among them are the question about doing too many of them in your Keogh or IRA (also known as the Dealer issue); what is the difference regarding transactions in a Roth IRA versus a traditional one; and the ubiquitous Unrelated Business Income Tax question.

The answers are straightforward. You can do as many real estate or other transactions as you wish without being a dealer. The dealer issue, according to subject matter experts, such as prominent ERISA and IRA attorneys, and the IRS has nothing to do with tax deferred, free or qualified plans, as these transactions occur in a tax free environment. The best analogy, is if you traded to often in the stock market, would you have to be licensed as a stock broker? No"
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Buyiing a Place Where You Can Live Now and Retire Later

: "The couple owned one of those grand suburban houses seen in commercials for Lexus or Rolls-Royce, with a circular driveway in a prestigious place that shouts, 'I've made it.'
But after two decades of living there, the attorney and his wife felt they'd had enough of their status symbol house. They sold the 4,000-square-foot property and plotted a dramatic change to an urban lifestyle.
Living downtown, they reasoned, would put the theater at their fingertips, as well as a plethora of gourmet restaurants. In the city they expected to find personal fulfillment after years spent rearing their three children, now all grown"
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Tips for Selling the Big Family Home After Retirement

: "Jordan Goodman, a personal finance author and commentator, says he's observing the 'gradual unfreezing of the great real estate iceberg' -- the growing propensity of people in their 60s and 70s to sell off the big family home and move to a smaller place because they need the cash. Until recent years, it was more common for people to hang onto the homestead into their 80s.
Goodman says rising home prices have tempted more seniors to let go of their big properties. Also, many retirees face higher living costs -- from home energy bills to prescription drug outlays."
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Home mortgage rates edge up to 6.25%

USATODAY.com - Home mortgage rates edge up to 6.25%: " Interest rates on 30-year fixed-rate mortgages hit their highest levels since early December last week, and applications fell for a second week.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity for the week ended Feb. 3 slid 1.2% to 619.3 from the previous week's 626.8, following a decline in home sales.
Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 6.25%, up 0.05 percentage point from the previous week's 6.20%, marking a second consecutive weekly increase. Rates were at their highest levels since the week ended Dec. 9, when they reached 6.28%."
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Fewer foreclosures in Wisconsin bucks national trend

WBAY-TV Green Bay-Fox Cities-Northeast Wisconsin News: Fewer foreclosures in Wisconsin bucks national trend: "UNDATED The number of Wisconsin homeowners who defaulted on their mortgage payments has dropped compared to last year. That bucks a national trend in which foreclosures are up almost everywhere else across the country.
Wisconsin had 951 foreclosures in 2005, down eleven percent from 2004. But nationwide, foreclosures are up about ten percent.
Experts say one reason is that the homes people are defaulting on are vacation homes in pricey parts of the country. People might have bought those homes when interest rates were lower, and now that rates might be double what they were two years ago, those mortgage payments are no longer affordable."
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Rise in Foreclosures Not Seen in Wisconsin

Wisconsin State Journal: "The number of foreclosures jumped 25 percent nationally last year between the first and last quarters, according to a report by RealtyTrac, an online marketplace for foreclosure property.
Not in Wisconsin.
Thanks to more conservative lending practices and less volatile home-value fluctuations, the number of Wisconsin foreclosures dropped 2 percent during the same period.
But with a cooling real estate market and interest rates likely to edge higher, experts say the state could see an increase in foreclosures over the next several years."
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Foreclosures might rise

The State | 02/09/2006 | Foreclosures might rise: "Fewer Columbia-area residents lost their homes to foreclosure in 2005, but rising interest rates and higher living costs might increase pressure on homeowners this year, some industry watchers say.Thousands of homeowners with adjustable-rate mortgages could see their monthly payments increase because short-term interest rates have risen 3.5 percent over the past 18 months.Add higher energy costs, including a 22 percent jump in gasoline prices among other reasons for the pressure, and homeowners with tight budgets start to sweat. That's a perfect storm scenario for a homeowner about to be in trouble, said Rick Sharga, vice president of marketing for RealtyTrac, a national foreclosure database."
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