Best Places to Put Your Tax Return

Intuit Group Real Estate News - March 2016

How to Better Earn Your Keep

If your 2015 tax filing is resulting in a much needed "Pay Day" from Uncle Sam, chances are pretty good you've been dreaming about how you're going to spend that extra dough.
While vacationing on a white sandy beach or bringing more ba-zing to an outdated wardrobe sound like ideal ways to blow that tax return (did I say blow?) consider some responsible alternatives...

Wise Ways of the Tax Return

  1. Pay down credit card debt
  2. Pay down student loans
  3. Save or start a savings account
  4. Add to an 401K or Retirement Account
  5. Purchase your own home

1. When you minimize your credit card debt, you help build a better credit score. When you're looking to get into home ownership and need to qualify for a mortgage, a healthy debt-to-income ratio will do wonders for your credit score.
2. Student debt is something most of us have had. Timely payments can actually help your credit rating and aren't a reason to delay a home purchase.
3. A savings account is a must-have for what you have planned for your future...and to cover life's unplanned events.
4. If your employer has a 401k or other retirement accounts in place available for your use, consider allocating a portion of your paycheck to it--especially if they match funds, Be sure to ask for a report that shows recent year-to-year rates of return.
5. There are many benefits to home ownership. The first step towards owning your own home is having the right plan in place. Where to start? Talk to a licensed and knowledgeable RealtorĀ®.

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Homes Avail for under $140,000 in SE Valley

Rental Rates Continue to Skyrocket

If your current lease is ending soon, you've started to check out places online or are doing drive-bys in your neighborhood of choice.

The rental market has changed in the last 12 months, for the good if you're a property owner, if you're a renter-- not so much. With increased demand and diminished supply, rental rates are going up. and available properties are gone in the blink of an eye!

Reality Check: A place in Mesa, near the (60) & (101) fwys, remodeled with 2 bedrooms and 2 baths can run about $1100/month in rent but there are townhomes available to purchase priced UNDER $100,000K. With downpayment assistance, mortgage, taxes, and insurance, your monthly payment to own it would be far less than $1100/month*.

With home ownership, you get the tax deductions on the mortgage interest you pay each year, which can make a positive impact on your tax return the following year and for subsequent years** .

With down payment assistance funds available that reduce the initial out-of-pocket costs of home ownership, why wouldn't you at least ask how close you are to making it a reality? You might be closer than you think...

Email or call me to start your plan for home ownership in 2016.

*Down payment assistance funds available. Program requirements affect eligibility, fees and interest rate.
**Talk to your accountant or financial adviser for advice.