Congratulations to Mark!

We are excited to announce that Mark has received the Texas Monthly Magazine 5 STAR award for 2012!  Thanks to all of his clients that again gave him this vote of confidence! 

Here's how they chose the award winners:

Our research team contacted consumers in the Dallas/Fort Worth region and asked if they had experience working with a real estate agent. Consumers who agreed to participate in the survey provided the name of the real estate agent and rated that individual according to key criteria such as integrity, negotiation and closing preparation. 

Surveys were sent to Dallas/Fort Worth region residents who recently purchased a home over $150,000 (more than 42,500 households) within a 12-month period (July 2010 to July 2011). An additional 250 surveys were sent to mortgage and title companies.

The survey data was collected and scored, resulting in the list of 2012 DFW Five Star Real Estate Agents. The research methodology allows only 7% or fewer real estate agents in a given market to qualify for the Five Star award.

Five Star Professional follows standard sampling and survey practices used by other professional research organizations. Our research also includes feedback from industry peers and leaders, and a regulatory review to provide necessary checks and balances.

Mark will be happy to provide you with the same level of professionalism to meet your real estate needs.  Call Mark TODAY at 817-690-0954.

"Anyone may arrange his affairs so that his taxes shall be as low as possible...for nobody owes any public duty to pay more than the law demands."
Judge Learned Hand

This opinion refers to federal income tax but the logic and spirit can easily be applied to any tax including property tax. Most property tax is based on a valuation called an assessment placed on the property by a government taxing authority.

When property values rise due to appreciation, the assessments usually rise. However, when values decline as they have done in many areas in the past few years, the assessments should follow accordingly.

If you don’t believe your assessment reflects market value, put together proof to support your position. Recent comparable sales, similar in size, condition and location are very persuasive. Check to see if the square footage on the assessment is accurate. If the home is not in good condition, take pictures to show that.

As your real estate professional, I can supply the comparables, filing deadlines and other pertinent information needed to make a challenge. Lowering your assessment will result in lower property taxes and more money in your pocket.  

Contact us if you would like a Market Evaluation to help lower your taxes. 

Call the Office at 817-441-7707.  

This is a MUST SEE! 

We would love to help you find the right home for you and your family.

Call the Snowden Team TODAY, 817-441-7707 office, 817-690-0954 Mark's Mobile, 817-690-0976 Pam's Mobile, 817-6890-7786 Alicia's Mobile

Immaculate Condition Fabulous Spacious Floor plan * Beautiful Jordan Ranch Estates home * One story home w 4-3-3, Porte-cohere' extra parking * You'll enjoy the beautiful established landscaped acre & low maintenance garden,sprinkler system * Gorgeous hand scraped hardwood floors in living & bedrooms * Huge kitchen has granite counter tops & whirlpool stainless steel appliances * Huge bedrooms & separate Mother-in-law suite. Must See!

Interestingly, Americans live in much larger homes than most people in other countries throughout the world. The U.S. Census reported in 2006 that the average single family home completed had 2,469 square feet which was 769 feet more than in 1976.

The Mortgage Forgiveness Relief Act of 2007 was passed by Congress to avoid additional financial hardship that some homeowners might experience due to a foreclosure or short sale. The law affects mortgage relief that occurs from January 1, 2007 to December 31, 2012.

Normally, IRS considers partial or total debt forgiven by a lender to be treated as ordinary income. This not only affects foreclosures but even short sales where only part of the debt is forgiven would trigger additional taxes for the homeowner. There are exceptions that apply such as bankruptcy and insolvency.

The forgiveness is only applicable to taxpayers' principal residence and only acquisition debt used to buy, build or improve the home. The additional cash taken out when refinancing a home will not be eligible for the relief unless it is used for capital improvements.

The lender is required to submit a 1099 form to IRS and provide the homeowner a copy who will file the forgiven amount on Form 982 as part of their 1040 tax return. How this affects your individual situation may differ due to other circumstances and advice from a tax professional is recommended.

Personal computers have been around long enough that everyone has experienced or knows someone who has lost their data due to a hard drive crash, accident or burglary. If they had a backup, the loss was inconvenient but not critical.

Do you have a backup for your personal belongings? Not that you need duplicates of all the items but do you have a journal listing of all the items with a description and their approximate values? That record becomes the backup that supports the claim for your insurance.

If a building sustains a total loss, the insurance company will usually pay the face amount of the policy. When it comes to personal property which might be 40% to 50% of the insured value of the dwelling, the insurance company is going to expect an accounting with receipts or at least, a relatively recent inventory.

The better your inventory, the less likely you'll have difficulty with the claim. Almost everyone has a digital camera that can take stills and probably even videos. The combination of the images as well as a written description will help you replace the belongings and serve as proof to the insurance company.

Once you've made the inventory, store it off site for safe keeping. Online storage in the "cloud" might be the best place to insure you'll always know where it is. Contact me for a free Home Inventory form; it's my way of helping you be a better homeowner.

Automatic thermostats can lower your monthly utility costs while conveniently regulating your comfort by adjusting temperatures on your heating and cooling systems. These can be particularly effective in homes with zoned systems where you live in one area during the day but sleep in a different zone.

There are programmable thermostats available at home improvement stores that can make the adjustments for specific times during the day and specific days of the week. They'll allow you to override the setting when needed without tampering with the programming. They'll even remind you to change your filter.

An exciting development is the Wi-Fi enabled thermostat that allows adjustments from any Internet connection such as computer or Smartphone. Imagine how convenient it can be to change your temperature from the car before you get home.

Reasonably priced under $100 for most models, it makes it easy to recapture the cost of the thermostat quickly. Most of the thermostats are designed for do-it-yourselfers; however, you can always have a heating and cooling professional install it for you.

How cool is that.  I hope you enjoyed this bit of information.  Please let us know if we can answer any of your real estate related questions.  Call us anytime 817-441-7707 Office, 817-690-0976 Pam,  817-690-0954 Mark. 

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A recent U.S. Tax Court ruling clarified the IRS position that the $1.1 million limit for mortgage interest deduction applies per residence and not per taxpayer as some high-priced homeowners were hoping.

A married homeowner filing jointly can have fully deductible interest on a mortgage of up to $1,000,000 of acquisition debt and up to an additional $100,000 of home equity debt. If the married couple files separately, each party is limited to deducting the interest on half of those maximum amounts.

The court case came about when two unmarried individuals who owned a home together as joint tenants felt that they were entitled to deduct the interest on $1.1 million of debt each. IRS did not agree with their understanding and neither did the Tax Court. The Court ruled that the limits apply per residence, not per taxpayer even if a home is co-owned by unmarried taxpayers.

The result for the taxpayers in this case was that their deduction was cut in half resulting in much more income tax due. While this situation only affects a few taxpayers, homeowners in this position should have a discussion with their tax professional.

817-441-7707 Office, 817-690-0954 Mark, 817-690-0976 Pam, 817-680-7786 Alicia.

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817-441-7707 OFFICE, 817-690-0954 MARK, 817-690-0976 PAM, 817-680-7786 ALICIA.

4 Easter Services;

Saturday 4/7/12 at 5:00 pm

Sunday Morning 4/8/12 at 8:30 am, 10:00 am or 11:30 am.

129 South Ranch House Rd.

Aledo, TX  76008 

For more information go to: www.willowparkbaptist.org

      Many Blessings!

HURRY CALL TODAY WHILE THERE'S STILL TIME!

Mark 817-690-0954

Pam 817-690-0976

Alicia 817-680-7786

1. Know you credit score - the best mortgage rates are available to borrowers with the highest scores. Unless you know what your credit score is at all three major bureaus, you don't really know what rate you'll have to pay.
2. Clean up your credit - it is estimated that about 90% of credit reports have errors. Some are not serious but others could affect a borrower from getting the best loan terms. It is your responsibility to know what is on your different reports and correct them if possible. You're entitled to a free copy of your credit report each year from Experian, Trans Union and Equifax.
3. Get pre-approved - Taking the time to make a loan application with a qualified lender even before you start looking at homes will provide peace of mind, make sure that you are looking at the "right" homes and may help you negotiate the best price on the home you select.
4. Do your homework - when you find the home that meets your needs and desires, research the tax assessments, school ratings, crime activity, possible zoning changes and comparable sales in the area.

One third of all U.S. households, 75% of households with more than $75,000 income and most homeowners itemize their deduction on their federal income tax returns. It makes sense because the interest paid on their mortgage and their property taxes probably exceeds the allowable standard deduction.

However, with interest rates as low as they have been in the last two years and the price of homes having come down considerably, it is possible that the standard deduction may be the better choice.

Each year, the taxpayer can compare the total of the itemized deductions to the standard deduction to select which method will result in the most benefits. The 2011 standard deduction is $11,600 for married couple filing jointly and $5,800 for single filers.

If you are thinking of buying a home with your tax refund, give us a call today 817-441-7707 office, 817-690-0976 Pam's mobile, 817-690-0954 Mark's mobile,

Alicia's mobile 817-680-7786, Debbie's mobile 817-304-3763, or Sandy 817-727-5555

Directions: I-20;Exit #415 FM5, Annetta Mikus-South on Annetta for 2 miles; cross RR track and make immediate Right on Annetta Centerpoint; West Hill 1 mile on left.

Stunning French Country home in West Hill Estates. Gourmet's kitchen with 6 burner Dacor range, granite countertops, island & breakfast bar.Luxurious master suite & bath, large Living Room & Formal Dining Room with vaulted ceilings, stone fireplace, gleaming hardwood floors, big formal dining & breakfast room. Lots of space w 5 bedrooms (5th bedroom used as bonus room-could be 2 rooms).   Lush 8.7 acres (7.7 ag exempt) ideal for horses,sparkling pool & spa,stock tank loaded w bass & catfish.  Aledo ISD!  Contact Sandy Gandy 817-727-5555. Home Priced at $799,000

Directions: I-20;Exit #415 FM5, Annetta Mikus-South on Annetta for 2 miles; cross RR track and make immediate Right on Annetta Centerpoint; West Hill 1 mile on left.

Stunning French Country home in West Hill Estates. Gourmet's kitchen with 6 burner Dacor range, granite countertops, island & breakfast bar.Luxurious master suite & bath, large Living Room & Formal Dining Room with vaulted ceilings, stone fireplace, gleaming hardwood floors, big formal dining & breakfast room. Lots of space w 5 bedrooms (5th bedroom used as bonus room-could be 2 rooms).   Lush 8.7 acres (7.7 ag exempt) ideal for horses,sparkling pool & spa,stock tank loaded w bass & catfish.  Aledo ISD!  Contact Sandy Gandy 817-727-5555. Home Priced at $799,000

Call today 817-441-7707

Buy or Sell A Home With Us...

Use Our Moving Truck For FREE!