Welcome!
  •       Welcome to the Heidi in Houston’s web-blog. I am so excited to share some of my life experiences in the “space city” through this blog. Life can be hectic, but I will make every attempt to take time out of my busy schedule to share great photos and information of the places I visit, people I meet and organizations I connect with in our wonderful city. I will try to be unbiased, although, this will be a very difficult task to accomplish because Houston is a city that I absolutely love. It just seems very easy to […]

    About Heidi

          Welcome to the Heidi in Houston’s web-blog. I am so excited to share some of my life experiences in the “space city” through this blog. Life can be hectic, but I will make every attempt to take time out of my busy schedule to share great photos and information of the places I visit, people I meet and organizations I connect with in our wonderful city. I will try to be unbiased, although, this will be a very difficult task to accomplish because Houston is a city that I absolutely love. It just seems very easy to […]

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JUST LISTED: Meticulously Maintained home for sale in Lakes of Parkway!

_DSC8191-3

MLS# 48492631 

Home is also available as a lease (MLS#74170870)

 

To Schedule a showing please call 281-558-4114

 

Sincerely,

 

Exclusively listed by Dietrich Properties, Keeping it Personal(c)
A Lakes of Parkway Neighbor – Specializing in Lakes of Property and the Energy Corridor.

 

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How to Avoid Problems With Your Spring Renovations and Repairs

As soon as winter weather starts giving way to fairer days, folks start itching to get any planned repairs, maintenance and renovations started.

If you want to protect yourself from rogue and incompetent builders, take some advice from the Connecticut Better Business Bureau’s Howard Schwartz, who suggests a few time-honored procedures.

Schwartz says it is essential to obtain multiple estimates before signing a contract. Study these estimates to learn what type of work is needed, the quality of materials they plan to use, how long the job may take, and its total cost.

Schwartz says details may vary, but if one estimate is substantially lower than the others, ask why. Here are a few more tips:

Check bbb.org to learn how long a contractor has been in business, contact information, verified customer reviews, complaint details, and how the business responded.

Don’t be lured into signing a contract if someone offers a “today only” special. That is a sales tactic designed to get you to sign a contract or put down a deposit without giving you an opportunity to do your research.

Obtain references from recent customers. You may want to speak with other property owners who had work done recently.

Get everything in writing. All verbal promises should be contained in the contract, as well as a detailed description of the type of work needed, the quality of materials, how long the job may take, specifics about the deposit and payment schedule, and guarantees for the quality of work and materials.

Pulling permits. Contractors should obtain necessary permits as part of the job. If they’d rather not go for permits, it might be a warning sign.

Compare apples to apples. Choosing a prospective contractor is simpler if you ask for quotes based on the number of hours needed and the same quality of materials.

Finally, avoid putting down a large deposit. Schwartz says a typical schedule follows the “Rule of Thirds.” The first payment is made when signing the contract, the second when work begins, and the final payment when the job is finished and you are satisfied with the quality of work.

For the latest real estate news and trends, bookmark RISMedia.com.

The post How to Avoid Problems With Your Spring Renovations and Repairs appeared first on RISMedia.

Via: http://rismedia.com/2018/04/17/how-avoid-problems-your-spring-renovations-repairs/

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Weighing Risk and Reward: Crypto-Investing in Home Equity

For homeowners that are looking to access home equity funds, but don’t want to take out a second loan, a home equity line of credit (HELOC) or a reverse mortgage, there are not many options; however, blockchain technology is looking to change that by offering investment opportunities that are tied to a home’s equity and rising values.

Quantm Real Estate (quantmRE) is a membership-based real estate investment network built on blockchain technology. It allows the primary issuance and secondary trading of investment tokens backed by fractional equity interest in single-family homes. This means that quantmRE invests in a fraction of the home by paying the homeowner a pre-determined amount of money (USD) to later benefit from rising home values when the homeowner decides to sell.

Any funds gained are used by quantmRE to continue investing in single family homes—of which the portion purchased goes into a pool of other equity from other homeowners. The company also invests in non-homeowner occupied single-family homes that are held as investment properties.

“Having to borrow from a bank simply to access the wealth that you have built up in your home is deeply unsatisfactory,” said Matthew Sullivan, CEO and founder of quantmRE, in a statement. “Our ability to digitize the value of a homeowner’s equity and realize the locked-up value will solve a huge problem for homeowners worldwide. It’s time for people to be able to access more affordable homeownership options, flexibility and less financial risk.”

Although the company makes a consistent effort to stay away from the term loan—because the process lacks monthly payments and interest charges—it is, in fact, a type of loan that needs to be paid back. The company does not charge interest, but homeowners are required to pay more than the original sum provided as quantmRE becomes a partner with the owner of the property and is entitled to a fraction of home value gains—a lien is placed on the property to make sure of that.

So, what’s in it for homeowners? At the moment, fast cash without having to worry about monthly payments and a small chance to profit should the property values dramatically increase from the time of investment. Of course, quantmRE funds are on the line if the property doesn’t appreciate; but if it does, homeowners will typically receive less for the sale of their property than if they had not engaged in a shared equity contract in the first place.

The question is, do these blockchain investment properties make out better than the homeowners? That may be the case. QuantmRE will always make its initial investment amount back, and has the chance to profit from home value appreciation. Homeowners, on the other hand, are automatically in debt—a term quantmRE chooses to refuse—and are then on the line for an even larger balance should their home’s value rise.

The pros? Risk of volatility is reduced, as the tokens deal with only real estate assets instead of other less reliable crypto-investments. When it comes to home improvements, quantmRE is not entitled to a fraction of the property value gains earned from these updates. Homeowners can also pay quantmRE before the sale of their home; however, the company may add provisions to ensure they don’t take a loss in the case of unfavorable market conditions. Although quantmRE’s website states that tax consequences are not known until a future date, homeowners should speak to their tax advisors to confirm before participating.

As with most investments, profitability is determined on a case-by-case basis. While this is a chance for homeowners to participate in a blockchain-based investment, they should consult a financial advisor to determine if this is the right choice for them or if traditional equity-funded loans make more financial sense.

Liz Dominguez is RISMedia’s associate content editor. Email her your real estate news ideas at ldominguez@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

The post Weighing Risk and Reward: Crypto-Investing in Home Equity appeared first on RISMedia.

Via: http://feedproxy.google.com/~r/RismediaConsumerNewsAndAdvice/~3/kDY1eQq2gDY/

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Show Us Your Best Staging Photos!

Calling all stagers! Realtor Magazine is on the lookout for great examples of staging a space in some of today’s most popular home styles, from farmhouse chic to modern or contemporary. I’m looking for some real estate professionals and stagers who would be willing to show off some of their favorite staging styles.

If you have a great example of a home staged in one of the styles listed below, please contact Melissa Dittmann Tracey at mtracey@realtors.org. Share with us a room photo and some of the staging accessories you used to enhance the look. We’ll be sharing some of our favorite submissions in an upcoming guide at Realtor Magazine online.

Design Styles for Staging Photos

  • Modern
  • Farmhouse chic
  • Rustic
  • Beach house
  • Industrial
  • Traditional

Via: http://feedproxy.google.com/~r/StyledStagedSold/~3/uM1lMNebmH0/

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Prepaid Property Tax Debate Undecided

Just a few days shy from the 2018 tax deadline on April 17, and controversy surrounding the new tax law—the Tax Cuts and Jobs Act—is leaving multitudes of homeowners uncertain about whether they should claim their prepaid property tax deductions. The new law imposes a $10,000 cap on state and local tax write-offs (previously unlimited) for both single filers and married couples, leaving tax consultants and taxpayers searching for ways to make the most of the decreased cap before it takes effect in next year’s filing.

Interpretation of the new law has been varied. The ruling clearly states that state and local income taxes are not eligible for prepayment. With no mention of property taxes, many homeowners rushed to prepay in December; however, on December 27, the IRS released a statement, clarifying that prepaid taxes are only deductible under certain circumstances—homeowners cannot deduct the prepayment for property taxes that have not been assessed prior to 2018.

The IRS provided the following examples:

“Assume County A assesses property tax on July 1, 2017 for the period July 1, 2017-June 30, 2018. On July 31, 2017, County A sends notices to residents notifying them of the assessment and billing the property tax in two installments with the first installment due Sept. 30, 2017 and the second installment due Jan. 31, 2018. Assuming taxpayer has paid the first installment in 2017, the taxpayer may choose to pay the second installment on Dec. 31, 2017 and may claim a deduction for this prepayment on the taxpayer’s 2017 return.”

“County B also assesses and bills its residents for property taxes on July 1, 2017, for the period July 1, 2017-June 30, 2018. County B intends to make the usual assessment in July 2018 for the period July 1, 2018-June 30, 2019; however, because county residents wish to prepay their 2018-2019 property taxes in 2017, County B has revised its computer systems to accept prepayment of property taxes for the 2018-2019 property tax year. Taxpayers who prepay their 2018-2019 property taxes in 2017 will not be allowed to deduct the prepayment on their federal tax returns because the county will not assess the property tax for the 2018-2019 tax year until July 1, 2018.”

Not all tax experts agree, and several members of the Ways & Means Committee are petitioning the IRS for higher deductions of reasonable estimates, according to the Wall Street Journal. The issue has not been resolved across the board, but with a low audit risk due to limitations on IRS resources, some taxpayers are urging their tax preparers to claim the deduction without disclosing the write-off on the required IRS form (8275).

“There is no reason to believe that Congress made a mistake in omitting property tax prepayments, and there was certainly no basis for the IRS to substitute its own policy judgements that departs from the act of Congress, especially when the consequence of the IRS’s determination may have cost taxpayers millions of dollars,” states the Ways & Means Committee letter.

Stay tuned to RISMedia for more developments.

Liz Dominguez is RISMedia’s associate content editor. Email her your real estate news ideas at ldominguez@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

The post Prepaid Property Tax Debate Undecided appeared first on RISMedia.

Via: http://feedproxy.google.com/~r/RismediaConsumerNewsAndAdvice/~3/ASuKw5SrxeA/

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