Mailbox Flowerbeds Spruce Up for Spring...Here's How

The time to plant is coming!! If you are looking for ways to spruce up your front yard you might want to think about doing a mailbox garden. Just think when you pull up to someone’s house what’s the first thing you see? Their mailboxes so why not make it as eye catching as possible. Prep the site: Do this by digging up the existing turf around the mailbox to the width you want your garden. You want to break up the existing soil to make it ready for your plants. You can till the turf you removed into the soil or place it grass side down for some natural compost. Plant the bed: You want to start by placing the tallest plants in the center right next to the mailbox. Then surround that with smaller plants that have different colors and textures. Make sure you leave enough space in between the plants to allow growth; you can find that information on the plant tags that come in your plants. Edge the bed: After you are finished planting you want to make sure to add a layer of garden soil to promote root growth. If you want to add protection to your garden bed from weeds then you can add an edger such as crushed stone or colored mulch. It will also add some contrast to your garden. Feed your bed: You want to make sure to use a fertilizer to feed your plants. Enjoy your finished product: Have a beautiful mailbox garden that everyone will love!!!

Cost Vs Value when updating home for sale!!

Optimizing the use of space in a home will not only attract buyers but also give sellers more bang for their buck, according to Remodeling’s “2011–12 Cost vs. Value Report,” conducted in cooperation with REALTOR® Magazine

Top 6 Returns

Siding Replacement (upscale) - fiber-cement Job Cost: $13,461 Resale Value: $10,493 Cost Recouped: 78%

Entry Door Replacement - steel Job Cost: $1,238 Resale Value: $903 Cost Recouped: 73%

Attic Bedroom Addition Job Cost: $50,148 Resale Value: $36,346 Cost Recouped: 72.5%

Kitchen: Minor Remodel Job Cost: $19,588 Resale Value: $14,120 Cost Recouped: 72.1%

Garage Door Replacement Job Cost: $1,512 Resale Value: $1,087 Cost Recouped: 71.9%

Garage Door Replacement (upscale) Job Cost: $2,994 Resale Value: $2,129 Cost Recouped: 71.1%

These are just a few of the best suggested investments when preparing to sell your home based on national averages. If you want more specifics based on the trends in your community for your homes resale value improvement feel free to give me a call for a free evaluation! 

Retirement Revolution: Saving for Your Dreams

Retirement Revolution: Saving for Your Dreams

Good News, Bad News for Home Market

Good News, Bad News for Home Market

How to Deal with Debt Collector Calls & Determine if Legitimate

Often times we feel a bit threatened by debt collection calls especially when we aren't familiar with the debt collector's claims. Beware that there are many scams that are often used to "phish" information from unsuspecting consumers. Also, keep in mind that debt collectors should have provided at least one mailed notice of late or delinquent payment. Be assured that the debt collection caller will ask questions. However put on the brakes so to speak and DO NOT GIVE THEM INFORMATION! Instead ask questions of the caller requiring them to give the details of the claim. Fair Credit Laws require that the information be given in proof of claims for debt repayment. If the caller is not willing to do so then something is wrong. Also, A real collector should provide the basics: name, company name, address and phone number. The verification can take many forms. It could be a copy of your contract with the original creditor, a copy of the charge-off statement or an invoice from the original creditor. Or it could simply be information about the debt, like the original creditor's name, the account number, charge-off amount and current balance. The collector should also be able to furnish at least the last four digits of your Social Security number. A scammer will usually refuse or say that they have already sent that information to you. Further, a real debt collector has 5 days from the initial call to send you confirmation of the debt. That letter should be more than just a demand to pay but should include the details of the claim. Also, remember that even if the collection is legit it doesn't mean it is necessarily your debt. Many creditors have accidentally contacted similarly named individuals or miscontrued account information of such individuals. A good practice once you have gotten the creditors information such as company name, address, phone, etc. is to call your local state's attorney general's office or consumer affairs and inquire as to whether or not the collector is licensed or allowed to work in your state. Also, ask if there are any complaints or records of improper collection practices of the debt collector. If the collector claims to be with an attorney's office take time out to check with the state bar association or check with the Office of Court Administration. Still you should not provide your information to the collector as they have the responsibility of providing you with information on the validity of thier claim. If in any event you find the collector may be a scammer immediately report them to the State Attorney General's Office or the Federal Trade Commission. You as a consumer should be checking your credit report at least once annually which can be done free once yearly by going to www.annualcreditreport.com or calling (877)322-8228. Chances are that if it is not listed on your credit report it is a scam or an error. Further, each state has statute of limitations for collections which can vary from 3 to 6 years hence make sure that if the collection is valid that it is not beyond the statute of limitations for your state. It is a proven fact also that some lenders on occassion have entered a debt on a third partie's credit in an attempt to recover lost funds hence it is a good idea to check your credit inquiry history to see if they actually appear there as having reviewed you for credit lending. Doing this often can clarify false claims. If indeed the Statute of limitations has expired the collector is barred form forced payment options such as liens, judgements, or wage garnishments. If the debt is legitimate and has exceeded 7yrs. after the date of you going into default, the debt has to come off of your report and can no longer be used in computing your credit score. If any such records exists your right as a consumer is to file a dispute with ALL THREE CREDIT BUREAUS requesting the inaccurate information be removed. Often times second & third party collections agencies will buy debts, keep in mind the debt if past 7yrs. of the original account default date still applies no matter if a new collection agency chose to acquire the debt from the original lender. Very importantly remember that some creditors attempt to use "reaffirmation" to start the whole 7yr. process working again. Hence, it is important not to inadvertantly acknowledge a debt either verbally when on the phone with the collector (as most calls are recorded) nor in writing, or by sending a payment on a debt that is past the statute of limitations. If you are unsure of the statute of limitation time period call your local Attorney General's Office or your state's consumer affairs office. Another right you the consumer should be aware of is that once you have received a debt collectors call you have up to 30 days to demand a written document of proof of such debt claim. Make sure that you send the demand letter with a return stamp required so that you may show proof of your rights having been met. Once again when sending such letters DO NOT PROVIDE YOUR INFORMATION!!!!! It would behove you to consider using a return address such as a post office box or office address instead of your home address. This ensures you not giving a potential scammer your contact information. As always I hope this information has been of value to you and ALWAYS use your credit wisely to prevent poor credit scores that may prevent future investment oppotunities.

Tax Time Is Here!! Here Are a Few Deductions & Tax Credits Often Overlooked!!

A tax credit actually reduces your taxes, dollar for dollar, but a tax deduction just decreases your taxable income. It's easy to understand how someone could miss a tax deduction with the hundreds of conditions to be mulled through when trying to figure what you are entitled to.

For Starters one often missed item is, if you were among the approximately 10 percent of Americans who were jobless last year, you may have a tax deduction coming. Job hunting expenses can be deducted, provided your total miscellaneous itemized deductions are greater than 2 percent of your adjusted gross income. Such expenses could include the cost of printing resumes, food and cab fares. But the catch is that you must be looking for a job in the same field as when you last worked. If you move at least 50 miles, your moving costs can be deducted if associated with job placement. Expenses such as highway tolls and parking are included, and you may even claim 16 ½ cents per mile deduction.

The American Opportunity Tax credit allows for $2,500 of college tuition to be claimed as a credit. It covers all four years of school and the full credit may be claimed by single people who earn $80,000 or less, or by married couples who earn $160,000 or less.

If you make a contribution to a retirement account -- such as an IRA or a 401(k) -- you could be eligible for up to $1,000 in credit if you're single, and up to $2,000 for married couples. To qualify, single filers must make less than $27,750 and married couples, under $55,500. If you're going to claim this credit, you must be over 18, not a full-time student and cannot be claimed as a dependent by anyone else. The actual credit is based on your filing status, how much you contribute to your retirement account and how much you make. The more you contribute, the less you earn and the higher your credit will be. To claim this credit, you must complete Form 8880 – also known as the Credit for Qualified Retirement Savings Contributions. You can get the form, and instructions for calculating how large your credit will be from the IRS website.

Charitable donations also are often overlooked. Although you can deduct the value of items you donate to charity, you cannot deduct the value of any time or labor you may have given to a charity's project. You can also deduct 14 cents a mile for any driving you may have done for charitable work.

If you compile your own taxes annually it is a good idea to go to the IRS website which offers quite a bit of information on personal deductions and tax credit options you may qualify for. If with all the changes that have occured in the past few years you are unsure of any proceedures it is advisable to utilize a tax preparer that is a professional in this field to ensure you get your maximum return. Hopefully this Information has been helpful to my patrons and prompts you to look into your possibilities when filing your taxes.

Foreclosed? Credit Settlement? You may be Liable for some Taxation!!

It is IRS policy to tax forgiven debt you are personally responsible for as if it is income. Say, for example, your credit card company settled a $10,000 debt for 50 cents on the dollar. You'd have a debt forgiveness of $5,000, which the IRS would count just like your wages.

The same policy held true for most mortgage debt until 2007, when Congress passed the Mortgage Forgiveness Debt Relief Act. That ended the liability for many homeowners -- but not all.

In general, if you lose your home to foreclosure or short sale, where you sell your home for less than you owe, the IRS won't add insult to injury by counting the difference as income, at least until 2012, when the act expires.

There are four major exceptions to the rule:

1. You did a cash-out refinance and splurged.

Many homeowners took cash out when they refinanced their homes and used the extra dough to pay for new cars, boats, vacations or other spending.

Say you did that and then got into trouble, losing the house through a foreclosure or short sale. Even if your lender waived the remaining debt, the IRS will treat as income the portion of the forgiven debt that you took out as cash and spent.

Only the funds used to actually improve your home won't be taxed (plus the costs of refinancing the loan). Even if you spent the money on paying off your student loans or credit cards.

The IRS' reasoning is that only the money spent on home improvement actually added to your home's value. And that, presumably, diminished the difference between what you owed on your mortgage and the value of your home when it was foreclosed.

Beware: Some lenders made refinancing offers contingent on homeowners paying off credit card debt. If you took one of those deals, the refinance money will be reported to the IRS and you will owe taxes on it.

2. You have a home-equity line of credit.

The same rules that apply to refinancings also apply to home-equity loans: The IRS will only forgive the tax liability if the loan money was spent on home improvements. Be prepared to show receipts to prove it.

3. You lost your vacation home or investment property.

The market tanked and you lost your vacation home. Unfortunately, if you didn't use it as your primary residence for at least two of the previous five years, you're going to pay the tax.During the housing boom, buying homes for investment purposes soared, accounting for 28% of all sales during 2005, according to the National Association of Realtors. (Vacation homes made up 12%.) And many of these purchases were made with little down payment.The median price for investment properties fell nearly in half to $94,000 by 2010, according to NAR. For vacation homes, the median price paid dropped 26% to $150,000.

4. You owned a multi-million-dollar home.

Houses: What a million dollars buys, only the first $2 million in forgiven debt will be voided under the relief act; all the overage is taxable as income.

Other ways out - If the taxpayer was insolvent at the time of the foreclosure, the forgiven debt can be excluded for tax purposes. It can also be discharged in a bankruptcy and approved by court order.