Capital gains on investment properties must be reported in the year of sale unless deferred. Use IRS Code Section 1031 to defer capital gains taxes by exchanging for a similar property.
Understanding the mortgage process is crucial for homebuyers. Start by determining how much you can afford and the type of mortgage that suits your needs, such as conventional or government-backed loans like FHA, VA, or USDA loans. Assess your financial health, focusing on your credit score and debt-to-income ratio. Prepare necessary documents for the application, … Continued
Breaking news! Interest rates at pre-pandemic levels, mortgage rates at all-time low, announces Fed. It's a dream come true for homebuyers who have been waiting for the perfect time to enter the market! Dream on… Happy April Fool’s Day!
As wildfire season nears, Idaho insurance companies are reassessing coverage in high-risk areas, leaving many homeowners vulnerable. Insurers are questioning the profitability of covering regions prone to wildfires, leading to policy cancellations. Homeowners like Dena Neubaum have struggled to find coverage, often with exclusions for wildfire damage. Agents suggest homeowners create defensible spaces and explore … Continued
Idaho ranks 10th in U-Haul's growth list for 2024, marking its fourth consecutive year in the top ten. The state sees a slight influx of new residents, primarily Gen Z, who make up 26% of newcomers. Washington leads in sending people to Idaho, followed by California and Oregon. Many newcomers become homeowners quickly, saving an … Continued
You may qualify for Idaho’s Property Tax Deferral program, allowing you to postpone property taxes on your home and up to an acre of land, with repayment plus interest to the state. Applications must be submitted by September 2, 2025, and eligibility requires being an Idaho resident, owning and occupying your home since before April … Continued
Refinancing your mortgage could save you thousands, but only if the benefits outweigh the costs. Refinancing a mortgage is worth it if it lowers costs through a better rate, term, or payment.
Start Early: Sellers should begin the process early, evaluating their home and preparing for the market.Home Preparation: Sellers should invest in updates, cleaning, and professional staging to increase appeal.
1. Staying in budget Plan beyond down payments and factor in all homeownership costs. 2. Mortgage interest rates Some homebuyers worry about high mortgage rates; buying now with solid finances may beat rising home prices later.
Governor Brad Little signed House Bill 40, marking the largest tax cut in Idaho's history, which returns $253 million to residents through reduced income tax rates from 5.695% to 5.3%. The law also allows veterans to retain more of their military pensions and excludes capital gains and losses from precious metal bullion from state income … Continued