New Year New Home- Why you should consider building

NEW YEAR NEW HOME

Buying any type of home can be scary, but it doesn’t have to be.  It is never advertised if a home will need a new water heater in six months, or if the roof is going to leak. Buyers often don’t know past problems with appliances or the last time things were replaced. Often times, already built homes come with the headache of repairs, replacements and reconciliation. Why settle for something that’s less than perfect? Building a new home in the New Year can offer a plethora of benefits.

Build it Your Way!

Brand new homes offer that used houses cannot: a realized dream. Why settle for months of costly changes when the perfect design is possible? Selecting your land, favorite cabinets, countertops, flooring, and fixtures empowers families and ultimately, creates a forever home.

Building a hew home will reflect your style!  A new home will reflect your choices and style, not someone else’s.  Your floor plan the way you like it!  Maybe the bedrooms all together, or maybe the bedroom for the kids downstairs.  Do you like natural light and want to save on energy bills?  Need a pantry or a walk in closet? A new home offers a layout that meets your needs.

Fewer Maintenance Headaches

One of the biggest benefits of building is the lack of maintenance. New home are more energy efficient, require less upkeep and everything is new so fewer headaches.  

How Much?

Several builders in the area can have your home done in 4 months!  Right now the average building price per square foot is $125.  That means a home that is 1500 sq. feet with standard cabinets, furnace, and windows costs just $187,500!  Then add the price of a lot.  Right now there are several lots in the Mancos  area that are $75,000 for 3 acres and that includes great views, natural gas and close to town.  

I'm here to make your dreams a reality!  970-759-2540

Christmas Memories

What are some of your best Christmas memories?  Were they when you were a child?  Was it a toy or an experience?  For my family, Christmas is all about tradition and being together.

As a child, my grandmother Nanny would pull up in her old white Ford car to our back door and pop the trunk to unveil it stuffed with presents.  The excitement my two sisters, brother and I had was pure joy.  Of course Nanny would come with her famous Christmas Coffee Cake for Christmas morning.  Christmas Eve was celebrated with  a traditional Mexican dinner of queso, chips, guacamole, red & green enchiladas, tamales and lime sherbet for dessert.  YUM!!   It was always followed up with opening one Christmas gift.

Christmas morning, we would wake around 5 and get my parents up.  We opened our stockings and then Daddy, would play Santa and hand out the presents. We opened one at a time, taking the time to experience each persons joy while they opened their present.  Mom would prepare a wonderful dinner of shrimp cocktail, artichokes, prime rib, baby potatoes, rolls and for dessert a cranberry torte.

This year my sisters and brothers came back home.  We all hadn't been together for Christmas in decades.  Mom is 88 now and her health is failing. Daddy died two years ago so we have all changed roles.  My sisters and I cooked then after dinner husbands, boyfriend and my brother cleaned up.

Christmas Day before dinner we went on a hike up Bernal Mesa, quite the hike, while Mom and my daughter stayed inside.  Spending time together reminiscing about the past, hope for the future, and scrambling up to the top of the mesa will not be easily forgotten

Christmas for me is about being with my family and remembering that my life is centered around my anchor, Jesus Christ.

May you hug and tell the people that are close to you that you love them.

Happy Thanksgiving!!!

House sold in Mancos, CO in 26 days!

12010 Road 38, Mancos, Colorado  SOLD in 26 days!

Need to sell?  Call me 970-759-2540  

MancosHomes.com

Is Fall/Winter a good time to sell?

Have you been outside doing Fall clean up?  The weather has been wonderful - 60's and bright blue sky.  Have your needs changed?  Do you need a smaller house, or a larger house?  Maybe you have always wanted to build your dream home.  Now is a great time to sell!

1.  You have fewer competitors.  Many homes that were on the market have either sold, or have taken it off and wait till next Spring.  You might think Spring is a good time, however since there is such a bombardment on the market, its hard for your home to stand out.
2.  Serious buyers.  Many buyers right now are preapproved and or have cash in hand.
3.  Fewer homes on the market means you have the upper hand.  When buyers are looking and there are few homes on the market, there just isn't much of a choice for them.  Generally you will get closer to your asking price.
4.  Interest rates are low.  The 30 year fixed conventional rate is hovering around 3.75 %.
5.  Curb Appeal.  Fall and Winter make it a great time to decorate.  Just don't go hog wild with the Christmas lights.
6. Price it right.  Have a market analysis done on your home.  Get to know your competitors.  What makes your home a better deal? Call me for your free market analysis.  970-759-2540  MancosHomes.com

Carbon Monoxide Detection Tips

Time to clean your chimney

Time to clean your chimney and fireplace so you can be safe and warm.  It's important to do this regularly.  Lots of people don't know who to call.  I recommend for super tall steep homes Slavens True Value in Cortez and for fairly flat roofs I will do it for you!  Just call me 970-759-2540.

The Life of a Realtor in Mancos, Colorado

I've been blessed to welcome some incredibly great people into Mancos and at the same time my heart broke when I had to sell a cabin for the Nelson's who've owned it for 27 years and since they are in their 90's it's just too hard of a drive from Louisiana. 

 Another great friend who lives in Calif. and been renting his house here in Mancos needed to sell.  I helped him clean the property, replace flooring, take loads to the dump and get it ready for the new buyers. 

 I am so happy to help others and able to juggle my 3 kids, my two horses, chickens, dogs and a couple of kittys!  God knew this was the job for me!  Here's a picture of me riding my horse in the mountains.  

Bike Riding thru the Aspens in SW Colorado!

                                                    Need a place to ride?  MancosHomes.com

Freemanimages.com

Cabin in the Woods

Are you prepared for a fire?

 Owning a home is one of your best assets and you don't want that to go up in smoke!  With all the wildfires going on up north, now is the time to make sure your home is safe.  Here's some tips~

1.  Make sure you don't have any trees touching your home.  Having flower beds and a lawn around your home provides a protection.

2.  Make sure any dead fallen trees or dead grass around your home is gone.  Cheat grass is the worse.  Once dead it spreads a fire quickly.

3.  Are your trees around home trimmed up from touching the ground?  By trimming the lower branches, fire has a harder time spreading to the canopy?

4.  Do you have a deck or porch?  Do not stack firewood under or by house.  Have it away from home. This also keeps rodents away from home too.

5.  Clean your wood stove pipe.  When cleaning out the ashes, DO NOT put ashes in plastic bucket on your porch.  Ashes need to go in a metal container and put far away from the house.

6.  Clean your gutters, have a metal roof, an install lightening rods.

Are you in need of help?  Contact Steve Underwood, with Underwood Forestry at 970-570-9800

Summer Bliss in Mancos, Colorado

Home Construction!

Home building has been busy this summer!  In Cedar Mesa subdivision just opposite of Mesa Verde National Park in Southwest Colorado, there are several homes getting built.  Right now contractors are getting about $120 a sq. foot. Many home buyers haven't found their "dream" home and now are looking to build.  This is good news!

There is an abundance of land for sale in Montezuma County.  Currently there are 202 parcels of land for sale ranging from $10k for a lot intown Cortez to 1200 acres north of Mancos for just shy of $8m.  Many of the parcels have restriction/covenants however there are still some that do not.

Are you looking for a new home or thinking of building?  Give me a call 970-759-2540.  I'm here to help you fall in love with SW Colorado!  MancosHomes.com

Is the homeowner desperate to sell?

Searching for a new home in Mancos, Cortez or Dolores Colorado?  There are some signs to help you determine if the homeowner is desperate to sell.  

Information is valuable.  Do your homework.  How long has the house been on the market? Why are they selling? Have there been several price drops?  Google the homeowner and the address.  Is the home vacant?  A rental? Are they listing the home "as is"?  Does the listing say "motivated seller" or "sellers concessions"?

Some of these questions can be answered by your Realtor.  Ask the neighbors,and ask at the coffee shop.  On your first visit to the home look for signs- is mailbox stuffed and yard untidy?  If the owners are at your showing ask lots of questions.  Ask them "Have you had any offers"?

Looking to buy a new home in Mancos, Dolores or Cortez Colorado?  I'm here to help! MancosHomes.com  970-759-2540

How to choose a real estate agent?

145 Grand, Mancos, CO 970-759-2540  MancosHomes.com

What kind of real estate company and agent you want working for you is a very important question.  At first you might say "I need a large company working for me."  Let's look~

1.  Size-  You might feel the excitement and buss of a large office, however lets look a little closer.  Will there be confusion on who to speak with throughout the real estate process?  Can your realtor be reached?  Do they return calls in a timely manner? How's there reputation with other Realtors and clients? All Realtors can list your home on the MLS, and to hundreds of internet sites but what does the prospective office do differently than the others?

2.  Location-  Consider how long it will be to drive to the prospective office. Of course technology gives real estate agents and clients mobility to keep up on emails, and answer calls.  However, a real estate office being in another town does not make it easy for you.  How easy is it for clients to find the real estate office?  What are the first impressions you get when you walk in?

3.  Training-  Does your potential realtor has specialized training?  Sure all Realtors are licensed by the state but what makes them stand out?  Have they gotten any awards?

4.  Experience-  How many sales has the potential realtor had in your area?  Are they familiar with the domestic water systems in your area?  How about the irrigation?  In Montezuma County in Southwest Colorado do they know about "red signed roads?" If they don't sell much in your area, the answer is no.  Get a list of current clients and past clients to call and get reviews.  Google them.  Do they have a personal website that is user friendly?

5.  Administrative Support- Meet their assistant.  Are they friendly? Google them.

6.  Commissions-  Does the real estate office, offer the same commission structure to everyone?  There are firms that will take a listing for a lower commission, however what kind of service will you get?  Will other Realtors want to show your home if they are only getting paid 2 or 2.5% commission?  Will a Realtor just list your house at any price to get the listing or will they do a market analysis to determine the fair price?

7.  Marketing-  For sellers, ask to see a marketing plan from a prospective realtor?  If buying a home, will they look at everything on the market ie. Craigslist, MLS, and for sale by owners?

8.  Community Involvement- Is your potential Realtor involved in the community?  You want a Realtor who is known in the community and has a wide range of interests.  For buyers, the Realtor will know what's going on and who is about to list their home.  For sellers, Realtors who are known in the community will have more clients, and that will equal to more showings.


By doing your homework, you can have a successful and stress free real estate transaction.  If you would like more information on buying or selling a home in Mancos, Dolores, or Cortez Colorado, please give me a call 970-759-2540.  MancosHomes.com.  I'm here to help!

Tips to selling your home in the Spring

When selling your house in the Spring, you need to know how to stand out above the rest.  Here are some tips that will help you.

1.  Hire a realtor who can be your trusted advisor, knows the market and has sold homes in your area.      Do your homework and get recommendations, and interview potential Realtors.  This is a key step.

2.  Before the home is listed, get it inspected.  This way, you have a chance to fix things and you        won't have any surprises once you find a buyer.

3.  Clean the house this includes windows, and outside.  Get the house power washed, clean the fans, do touch up painting and declutter.   You want your house to be spacious, so buyers can imagine their stuff in the home.  Make sure your closets are not stuffed.  First impressions are huge.

4.  On the day of a showing, have curtains opened up, for sunshine and turn on the lights.  Also have bottle water and cookies out for potential buyers.  You want them to linger and fall in love with your home.

5.  Have a detailed sheet for the buyers in the kitchen for them to take home.  List the things that you love about the home, ie. proximity to schools, forest, big yard, heated floors, views.

I'd love to help you get your home sold.  I'm here to help.  MancosHomes.com 970-759-2540

Can a garden help me sell my home?

Nothing better than seeing a home that has a bountiful garden. If you are thinking of selling your home this summer, plan now to have a garden! There is just something about warmer weather that makes you want to be outside. You can start plants inside now, however do not plant them outside until mid May. Even than your tomatoes will need to be protected from the cool nights.

Everyone knows that first impressions are huge. What can a seller do to make their home stand out from the competition? Sure clean the home from top to bottom: ceiling fans, windows, carpets, etc. But what else? I suggest working on the yard! Have a mixture of perennial flowers and vegetables! You want the buyers to linger and fall in love with your home, so I suggest baking chocolate cookies and having a plate for them with bottled water. There's just something about the yummy smell!

Have a flyer with pictures on the kitchen table for potential buyers to take with them of things you love about your home. Want to sell your home? I'm here to help! MancosHomes.com

Do I have enough for a down payment to buy a home?

So you want to buy a home, however you don't think you have enough cash for a down payment? That's the #1 reason why non owners don't buy a home. However 8 out of 10 people according to the National Association of Realtors say that owning a home is the "American Dream".

Most lenders will state you need 20% down. That's $60,000 on a $300,000 home! Plus you need money for cost of getting your loan. That's scary! So now what? You can actually buy a home with as little as 3% down or 0 down!

The Federal Housing Administration is a government agency charged with helping home buyers — especially first timers — get approved. The FHA assists mortgage lenders to make loans by guaranteeing a portion of the balance.

And if you’re an active or retired service member, or live in a rural area, you may have access to zero down payment programs through the Department of Veterans Affairs or the Department of Agriculture’s Rural Development program (USDA).

A lower down payment makes you a bigger risk in the eyes of the lender. That’s why it will look for help from one of those government programs to guarantee a portion of the loan. The thing is, you pay for the guarantee. It’s called mortgage insurance. There will be an upfront fee and likely an ongoing charge built into your monthly payment.

Some of the programs don’t require mortgage insurance, but will charge an “upfront guarantee fee” or “funding fee.” Whatever you call it, a fee is a fee. And as a “higher risk,” you’ll likely pay a higher interest rate for the life of the loan in addition to the other fees.

It’s tempting to go with the lowest all-in upfront charges when trying to buy a home. But the key is to do your homework!

~ Check out Homesfund.org. They are a wealth of information.

~ Review your financial situation and meet with several lenders and discuss options.

Buying a home can sometimes be a challenging process, but with a little work and me, at your side, 2017 may be a good time to start looking. I'm here to help. MancosHomes.com

Two Months into 2017! How's the Real Estate Market?

We got blasted with snow and all schools are closed in county, so it's a great time to reflect. Two months into 2017! Wow time flies!

Inventory for homes for sale in the $300k- $400k range is still low.  There is also a shortage of rentals in the area.  So this is a perfect time to list, if you are thinking of selling. 

Currently there are 56 homes for sale with the Mancos zip code.  Many of these have been on the market for quite some time and might not be selling due to several factors: overpriced, location, and quality of home.   

Pricing your home right is so important!  It's just not picking a figure out of thin air hoping that someone will bite.  Start by picking a realtor who will be your trusted advisor and knows the market. They will do a market analysis and compare the pros and cons of each of your competitors.   Once you have a price down, now comes the time to get your house ready.  Declutter, clean up yard, get it pre-inspected and fix anything on report.  What kind of marketing will your realtor do? Will your realtor return calls in a timely manner?  These are just a few important questions to ask. 

Want to know what your home is worth?  Call me for a free market analysis.  I'm here to help. The picture is out my window in downtown Mancos! 

Tax Time~ What can I deduct?

Did you buy or sell a home last year? It's tax time and do you know what you can and can not deduct? Here's a list. Please be sure and check with your CPA for more!

Schedule A Expenses

Taxes You Paid

• State and local income taxes or general sales tax
• Foreign income tax
• Estimated tax payments
• Prior year's state and local income tax you paid during the tax year (do not include penalties).
• Disability insurance tax (some states)
• Occupational taxes
• Real estate tax (state, local or foreign). 
• Portion of condo and coop maintenance that includes real estate tax.
• Personal property taxes based on value.  This includes auto registration or licensing fees, but only the portion based on value, and only if charged on a yearly basis.  Varies by state.

Interest You Paid

• Mortgage interest
• Late payment charge on mortgage payment
• Mortgage prepayment penalties
• Points on principal residence financing
• Mortgage insurance premiums

Gifts to Charity

• Charitable contributions (cash and non-cash) made to qualified U.S. charities and certain charities in Mexico, Canada and Israel. 
• Mileage to donate goods to charity or to perform charitable services.

Other Expenses

• Casualty and theft Losses
• Investment expenses:
       Fees for tax return preparation
       Investment counsel and advisory fees
       Certain legal fees
       Safe deposit box rental
       Interest on margin accounts

Business Expenses

Employees (Form 2106): 
Includes expenses for your job for which you weren’t reimbursed, but you only get the amount in excess of 2% of your AGI (adjusted gross income), and only if you can itemize.  For instance, if your AGI is $100,000, you must have at least $2,000 in employee business expenses/miscellaneous expenses before you will begin to benefit from the deduction. 

Self-Employed (Schedule C):
You are allowed to deduct most business expenses in full.  Meals are deducted at 50%.

See IRS Publication 535 for more information.

Advertising and Promotion Expenses (Self-employed)

Books and Publications

• Books, trade journals, newspapers and publications for your trade or profession

Dues and Fees:

• Dues to a professional organization for people in your profession
• Union dues, initiation fees, and assessments for benefit payments to unemployed union members.
• Regulatory fees for your profession
• Dues to chambers of commerce and similar organizations if the membership helps you carry out your job duties (see exceptions).
• Licenses paid to state or local governments

Education and Research

• Educational expenses related to your present work that maintains or improves your skills.
• Research expenses

Equipment and Supplies

• Business use of computer.  Employees:  Must be for the convenience of your employer and required as a condition of your employment.
• Supplies and tools you use in your work

Home Office

• Expenses for an office in your home IF part of the home is used regularly and exclusively for your work.  Employees:  the use of your home office must also be for the convenience of your employer. 
• For more information, see IRS Publication 587

Internet

• Employees:  Must be for the convenience of your employer and required as a condition of your employment.

Job hunting expenses (Employees)

To deduct job hunting expenses, you must be looking for a job in your present line of work (i.e., you’re not changing professions or looking for your first job).  Expenses include: 

• Resume preparation (drafting, typing, printing, mailing, faxing)
• Employment agency fees
• Executive recruiters’ fees
• Portfolio preparation costs
• Career counseling to assist you in improving your position
• Legal and accounting fees you pay in connection with employment contract negotiations and preparation
• Advertising
• Transportation costs to job interviews
• Long distance calls to prospective employers
• Newspapers you purchase to read the employment ads
• Other business publications you purchase to read the employment ads
• Half of your meals you pay for that are directly related to your job search
• If you take a trip away from home to look for a new job, your expenses for traveling, lodging, meals (50% of the cost), etc. are deductible only if the primary purpose of your trip is to look for a job. To substantiate the purpose of your trip, keep a daily log of your interviews, application efforts, etc.

Meals and Entertainment

• Meals and entertaining costs with a clear business purpose (i.e., meeting with clients) (only 50% of the cost is deductible).  Keep a record of the date, place, amount of expenses, people present, business purpose, and business discussed.  Also keep receipts for expenses in excess of $75.
• For more information, see IRS Publication 463

 Telephone Charges

• Business use of cellular phone. 
• Cost of long-distance business calls charged to home phone
• Separate business telephone (home phone line is not deductible)

Travel and Transportation

• Traveling costs incurred while away from home on business
• Traveling costs paid in connection with a temporary work assignment
• Transportation between your home and a temporary work location if you have no regular place of work but you ordinarily work in the metropolitan area where you live and the temporary work location is outside that area
• Transportation between your home and a temporary work location if you have at least one regular workplace for this employment. It doesn’t matter how far away the temporary location is in this case.
• Transportation from one job to another if you work two places in one day
• If you are self-employed and your home is your principal place of business, all business travel is deductible.
• For more information, see IRS Publication 463

Uniforms and Gear

• Protective clothing and gear
• Uniforms (except if you’re full-time active duty in the armed forces)
• Dry cleaning costs for your uniforms or protective clothing (not for your everyday clothing, though)
• Specialized clothing designed for your job, as long as it's not suitable for everyday wear
• Safety equipment, such as hard hats, safety glasses, safety boots, and gloves

Miscellaneous

• Gifts, but only up to $25 per recipient
• Passport if needed for business travel
• Postage
• Office supplies
• Printing and copying
• Legal and professional services (tax preparation fee)
• Medical exams required by your employer
• Occupational taxes if they’re charged at a flat rate by your city or other local government for the privilege of working in that area
• Business liability insurance premiums
• Job dismissal insurance premiums
• Damages you pay to a former employer for a breach of employment contract
• Employee contributions to state disability funds

Self-Employed Only

• Interest on business loans
• Self-Employed health insurance (partial)
• Commissions and fees
• Business insurance
• Keogh or SEP contributions
• Rental of business property
• Office rent and utilities
• Repairs and maintenance
• Business taxes and licenses

---

Qualified Medical Expenses

Generally, you can only deduct the excess over 10% of Adjusted Gross Income (7.5% if over 65), and then only if you can itemize on Schedule A.  This means that if you make $100,000, you can only deduct the amount of medical expenses you spent over $10,000.   Please also refer to IRS Publication 502:  Medical Expenses.

• Acupuncture
• Air conditioner necessary for relief from allergies or other respiratory problems
• Alcoholism treatment
• Analysis
• Artificial limbs
• Artificial teeth
• Birth control pills prescribed by a doctor
• Braille books and magazines used by a visually-impaired person
• A clarinet and lessons to treat the improper alignment of a child’s upper and lower teeth
• Contact lenses
• Cosmetic surgery to improve a deformity
• Dental fees and supplies
• Diet, special. When prescribed by a doctor, you can deduct the extra cost of purchasing special food to alleviate a specific medical condition.
• Doctor or physician expenses
• Drug addiction treatment
• Elastic hosiery to treat blood circulation problems
• Exercise program if recommended by doctor to treat a specific condition
• Extra rent/utilities for a larger apartment required in order to provide space for a nurse/attendant
• Eye surgery, when it is not for cosmetic purposes only
• Fertility treatment:  Limited to procedures such as in vitro fertilization (including temporary storage of eggs or sperm) and surgery, including an operation to reverse prior surgery that prevented the person operated on from having children.
• Guide dog
• Hospital care
• Household help for nursing care services only
• Insurance premiums for medical care coverage
• Laboratory fees
• Lead-based paint removal where a child has or had lead poisoning
• Legal fees paid to authorize treatment for mental illness
• Lifetime care advance payments
• Lodging expenses while away from home to receive medical care in a hospital or medical facility
• Long-term care insurance and long term care expenses (with limitations)
• Mattresses and boards bought specifically to alleviate an arthritic condition
• Medical aids. This includes wheelchairs, hearing aids and batteries, eyeglasses, contact lenses, crutches, braces, and guide dogs (including costs paid for their care).
• Medical conference admission costs and travel expenses for a chronically ill person or a parent of a chronically ill child to learn about new medical treatments.
• Medicines and prescription drugs
• Nursing care.
• Nursing home expenses if the there to obtain medical care.
• Oxygen and oxygen equipment.
• Reclining chair bought on a doctor’s advice by a person with a cardiac condition.
• Special education tuition of mentally impaired or physically disabled person.
• Smoking cessation programs.
• Swimming costs, if therapeutic and prescribed by a physician.
• Telephone cost, repair and equipment for a hearing-impaired person.
• Television equipment to display the audio part of a TV program for hearing-impaired persons.
• Transplants of an organ, but not hair transplants.
• Transportation costs for obtaining medical care.
• Travel expenses for parents visiting their child in a special school for children with drug problems, where the visits are part of the medical treatment.
• Weight loss program, if it is recommended by a doctor to treat a specific medical condition or to cure any specific ailment or disease
• Whirlpool baths prescribed by a doctor.
• Wig for the mental health of a patient who lost his or her hair due to a disease.
• X-ray services.

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Expenses You Cannot Deduct

People commonly hope to deduct some of the following expenses, but unfortunately they are not deductible.

Non-Deductible Miscellaneous Expenses:

• Expenses that were reimbursed by your employer.
• Clothing that is adaptable to everyday wear (this includes suits, evening wear, etc.). 
• Commuting costs (subways and rail fares, and vehicle use including tolls, gasoline, and parking).  Exception if qualified as being away from home on business or as part of Temporary Living Expenses.
• Dues to country clubs, golf and athletic clubs, and airline and hotel clubs.
• Job hunting expenses if you’re looking for your first job, or changing professions.
• Dry cleaning and laundry (unless you’re on a business trip)
• Immigration visa expenses, such as for obtaining a Green Card or H-1B visa.
• Moving expenses that were not associated with your job.
• Moving expenses if you are claiming temporary living expenses.
• Meals, unless for business meetings, or while away from home on business.  Also, allowable as part of Temporary Living Expenses.
• Lunch on the job.
• Personal expenses, such as grooming and maintenance (gym membership) unless they are directly related to your business (e.g.,  models, actors).
• Any other personal expenses for which there is no provision for a deduction in the Tax Code.
• Interest on personal loans.
• Support of family members, with the exception of specific expenses, such as dependent care, for qualifying dependents.
• Personal vacations. 
• Cosmetic surgery to improve personal appearance
• Contributions made to individuals or foreign charities.
• Student loan interest if adjusted gross income is greater than $75,000 (single) or $150,000 (married).
• Student loan principal.

Nondeductible Home Expenses.  Some exceptions for rental properties.

• Mortgage principal payments
• Homeowner's association fees.
• Apartment rent, unless qualified to claim away from home expenses for a business trip expected to last one year or less (Temporary Living Expenses), or if a portion is used as a home office (special rules apply to both cases).  Also, may be deductible if maintained for the sole purpose of going to school if your education expenses qualify for the business deduction.  Exception:  Some states provide a deduction for rent (e.g., New Jersey and Massachusetts).
• Insurance (other than mortgage insurance premiums), including fire and comprehensive coverage, and title insurance.
• Wages you pay for domestic help.
• Depreciation.
• The cost of utilities, such as gas, electricity, or water.
• Most settlement fees, closing costs, and legal fees involved in purchasing a property
• Forfeited deposits, down payments, or earnest money.
• Home phone line

Nondeductible Taxes and Fees.

• Fees for taking an exam to qualify you in a profession (e.g., Bar Exam, GRE, etc.)
• Personal purpose license fees (e.g., marriage, driver's license, dog, etc.)
• Employment taxes. This includes social security, Medicare, and railroad retirement taxes withheld from your pay. However, one-half of self-employment tax you pay is deductible. In addition, the social security and other employment taxes you pay on the wages of a household worker may be included in medical expenses that you can deduct or child care expenses that allow you to claim the child and dependent care credit.
• Estate, inheritance, legacy, or succession taxes. However, you can deduct the estate tax attributable to income in respect of a decedent if you, as a beneficiary, must include that income in your gross income. In that case, deduct the estate tax as a miscellaneous deduction that is not subject to the 2%-of-adjusted-gross-income limit.
• Federal income taxes. This includes income taxes withheld from your pay.
• Fines and penalties. You cannot deduct fines and penalties paid to a government for violation of any law, including related amounts forfeited as collateral deposits.
• Gift taxes.
• Per capita taxes. You cannot deduct state or local per capita taxes.

How's the real estate market in SW Colorado-Mancos and Cortez areas? Here's the answers!

Selling your home: Is your home underpriced?

Selling your home is a major decision. Several questions need to be asked.

 Is the time right for you and your family?

 How long is it going to take? 

Where am I going?  

What things need to be done before I list?

Who should be my realtor?

What price?

It's important to take the time to set yourself up for success.  The first step is to interview realtors.  Have each of them give you a market analysis of your home, references and a list of homes they have sold in your area. Get to know your competition.  Go see other similar homes for sale.  What makes your home unique? Location? Size? Amenities? Do your homework.  You want a realtor who can become your trusted advisor.  

When you are trying to decide what price to list your home, be leery of realtors who want to price it too low or too high.  You should only be pricing your home about $10,000 above what you want to walk away with.  Look at their market analysis.  Are the comparison homes they used viable? 

Be leery of any realtor who will take a cut in commission just to get your listing.  You pay for what you get. Besure and ask for their marketing plan.  Any realtor can put your listing on the internet, however you want a realtor who can be reached, is a good fit for your personality, and a great negotiator when the time comes.  

Selling your home can be a smooth process.  I'd love to help!

Signs that your home is overpriced!

Want to sell your home? Pricing your home to sell is very important.  Sellers can become frustrated with the selling process, if the home isn't priced right in the beginning.  Here's signs that your home is overpriced.

1.  Are you having very few showings or offers?

2.  Are other similar homes in the area selling and not yours?

3.  Is your internet traffic low?

4.  Your showing feedback shows home is overpriced.

5. Your home didn't sell and your listing expired. 

 If you can answer yes to any of these questions.  It's time to reevaluate.   Hire a Realtor who knows your area, can be reached at all times, and who has sold homes in your area.  Get referrals.  Your Realtor should become your trusted advisor.  Call me I'd love to help you make your selling process easy!