Insurance companies’ policies are synonymous to long grocery receipts: you have check out every item punched just to make sure the bagger didn’t miss out anything. The checking can be tedious, just like home insurances. Sometimes, when faced with an insurance agent, you just have to be creative and think of actual scenarios that might happen to your home and ask him/her if it’s covered by the insurance’s policy. If they considered mud/landslide as a catastrophe associated with water, then some flood policies cover it, if not, then ask another question. Don’t be afraid to ask. It’s your policy you’re concerned with anyway.
Photo taken from http://www.themoneyalert.com
flood insurance
An installment sale is a sale of property where you receive at least one payment after the tax year of the sale. If you dispose of property in an installment sale, you report part of your gain when you receive each installment payment. You cannot use the installment method to report a loss.
General Rules
If a sale qualifies as an installment sale, the gain must be reported under the installment method unless:
- You elect out of using the installment method
- You are not a qualified accrual method taxpayer
References/Related Topics
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Real Estate Tips
Some handy advice for those buying property.
With the main traditional buying season approaching, here are some tips for those of you on the house hunting trail.
- Don’t be put off by bad weather. It’s a good time to check the potential property for leaks and poor drainage.
- Visit the area to check out the proximity of schools, nightlife, transport, shopping centres, etc. These can have an effect on your lifestyle, both now and in the future (ie.children).
- Contact local agents to research recent sale values in the area.
- Always obtain building and pest reports on any property in which you are seriously interested.
- Before you buy, get in touch with your potential neighbours, to ascertain suitability and see if there are underlying disputes or problems.
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How about a closure with no papers included? Yes, I mean those bulky papers that you normally bring when closing a deal.
Sounds nice, eh?
Well, Arizona realtors are on it. They’ve sign up with SureClose, an online transaction management website that provides hassle-free real estate closures. Since it’ll eliminate manual filing of files, the website features total archiving of the buyer and seller’s transaction history. Although a fee of $129 is required before you could sign up as a member, the hassle-free features of the website will get your money’s worth. SureClose plans to integrate all Arizona realtors (around 54,000) by 2008.
Photo taken from http://www.webtvwire.com
arizona, sureclose
Real estate is a legal term (in some jurisdictions, notably in the USA) that encompasses land along with anything permanently affixed to the land, such as buildings, specifically property that is stationary, or fixed in location. Real estate is often considered synonymous with real property (also sometimes called realty), in contrast with personal property (also sometimes called chattel or personalty). However, in some situations the term “real estate” refers to the land and fixtures together, as distinguished from “real property,” referring to ownership rights of the land itself.
The terms real estate and real property are used primarily in common law, while civil law jurisdictions refer instead to immovable property.
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A shopping centre on a Worcestershire estate is set to benefit from a multi-million pound revamp.
Council leaders said Church Hill in Redditch needed the new shops and other services to help prevent anti-social behaviour there.
The area, which has 10,000 residents, was chosen above three others in the town to have the revamp.
The plans will include having a high street on both sides of the street to encourage more businesses to the area.
New car parks will also be built.
Source: news.bbc.co.uk
MANHATTAN HOUSING - I expect a slower than normal wall street bonus season in the months of JAN - APRIL, in terms of buyer demand. As for bonuses, yes I think they will be given out (with some departments seeing drastic cuts in bonuses) but its HOW THEY ARE SPENT that I’m a bit concerned about. I expect inventory to build as we near summertime, as a result of a slower than normal bonus season, and wall street to deteriorate as we get more clues about whether we are in a recession or not. As wall street falls, so will confidence and demand on the buy side for Manhattan real estate products. At the same time, we will see more types of sellers contribute to inventory builds toward the end of 2008; speculators, foreign buyers flipping, second home’s selling, and struggling buyers who bought a bit more than they can chew or whose job security has changed to the negative. I expect job losses to grow during the first two quarters of the year as a result of the credit crisis and hit to the financial sector, leading to what I described above.
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