The Carvajal Group Blog

Entries from December 2009

Thirty-year fixed mortgage rates increase

December 16th, 2009

Home loan rates increased in the past month. According to industry reports, the 30-year fixed mortgage climbed to 4.72 points. The increase in mortgage rates indicates that the demand in the real estate market may be improving. However, it also may be a sign that some banks are tightening their credit in the hopes of […]

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Tags: Austin Real Estate · Austin Real Estate Agent

What is the difference between investment real estate and personal residence?

December 8th, 2009

Many individuals and families purchase real estate as a personal residence. This purchase has a number of tax consequences. For instance, the individual will be taxed on the real estate as a personal residence, with the tax rate and base determined by appraisals and local property tax jurisdictions. However, if the individual purchases the real […]

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Tags: Austin businesses · Austin Real Estate · Austin Real Estate Agent

Will you be taxed for the gain on the sale of your home property?

December 4th, 2009

When individuals and families sell their homes, they oftentimes incur a gain on the sale. While this gain is usually a boost to their disposable income, they may be taxed on a portion of the gain. In most circumstances, individuals are allowed a $250,000 exemption and married couples are allowed up to a $500,000 tax […]

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Tags: Uncategorized

What is the allowable tax deduction for home acquisition debt?

December 4th, 2009

When many people purchase a home, they often take out a loan to finance their home purchase. These loans are typically in the form of home acquisition debt. Fortunately for many home buyers, some of the interest on home acquisition debt may be tax deductible. In most circumstances, taxpayers can deduct the interest on home […]

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Tags: Austin Real Estate · Austin Real Estate Agent · Austin real estate sale