Category Archives: Fairview homes for sale

New Real EstateTax Law – 5 Effects to Home ownership and 1 unchanged

Have you heard about the new tax laws? Congress’ recently passed tax reform, has five changes that might effect homeowners.

  1. Mortgage Interest Deduction

The mortgage interest tax deduction is touted as a way to make homeownership more affordable. It cuts the federal income tax that qualifying homeowners pay by reducing their taxable income by the amount of mortgage interest they pay. Beginning in 2018, the deduction is scaled back to interest on debt up to $750,000, instead of $1 million, for people who buy homes on or after Dec. 15, 2017.

  • Tax Law Through 2017: You may deduct the interest you pay on mortgage debt up to $1 million ($500,000 if married filing separately) on your primary home and a second home.
  • Tax Law Beginning in 2018: For homes bought before Dec. 15, 2017, no change. But for homes bought Dec. 15, 2017, or later, you may deduct the interest you pay on mortgage debt up to $750,000($375,000 if married filing separately).

 

2. Property Tax Deduction

The former tax law eased the pain of paying property taxes by allowing qualifying taxpayers to reduce their taxable income by the total amount of property taxes they paid. Beginning in 2018, the deduction is limited to a total of $10,000 for the cost of property taxes, and state and local income taxes or sales taxes.

  • Tax Law Through 2017: You may deduct the property taxes you pay on real estate you own.
  • Tax Law Beginning in 2018: You may deduct up to $10,000 ($5,000 if married filing separately) for a combination of property taxes and either state or local income taxes or sales taxes.home-167734__340

3. Home Equity Deduction

On top of the mortgage interest deduction, the former tax law added a deduction for interest paid on home equity debt “for reasons other than to buy, build, or substantially improve your home.” So, for example, if you borrowed from a home equity line of credit to pay tuition, the interest you paid was tax-deductible. Starting in 2018, the deduction is eliminated for interest paid on home equity debt.

  • Tax Law Through 2017: You may deduct interest on up to $100,000 of home equity debt ($50,000 if married filing separately).
  • Tax Law Beginning in 2018: Eliminates the deduction for interest on home equity debt.

4. Mortgage Interest Deduction For Second Homes

You may deduct interest on mortgage debt on your primary home and a second home. The new law keeps this part of the former tax law in place, although it reduces the amount of eligible mortgage debt, as seen in item No. 1 above.

  • Tax Law Through 2017: Deduct the interest you pay on mortgage debt up to $1 million ($500,000 if married filing separately) on your primary home and a second home.
  • Tax Law Beginning in 2018: Deduct the interest you pay on mortgage debt up to $750,000 ($375,000 if married filing separately) on your primary home and a second home.

 

5. Moving Expenses

Under the former tax law, you could deduct some moving expenses when you moved for a new job. You had to meet complex criteria involving distance and timing of the move. Beginning in 2018, only active-duty members of the armed forces will be allowed to deduct moving expenses.

  • Tax Law Through 2017: Deduct some moving expenses if you meet distance and time requirements.
  • Tax Law Beginning in 2018: Only active duty members of the armed forces may deduct moving expenses.

 

Capital Gains rule has NOT changed

Changing the capital gains rule was on the chopping block, but thankfully it has not changed. When you sell a house, the capital gain is the difference between the price you paid for it and the price you sold it for. This capital gain is treated as taxable income. If you owned the house long enough, you’re allowed to exclude up to $500,000 (for married couples) of this capital gain as income so you don’t have to pay federal income tax on it. (The exclusion is capped at $250,000 for taxpayers filing separately.)

  • You must have owned the home, and used it as your primary residence, during at least two of the five years before the date of sale. You cannot have used this exclusion in the two years before the sale of the home.

Would you like to know more? I’m not an accountant, but I can give guidance on home values, market conditions, buying, selling, and a couple great recommendations. For more information the new tax laws contact tour favorite CPA or call me and I’d be happy to refer you.

Five Star award recipient 2011-2018 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent

Oregon First, Realtors, Direct 503.380.9634, Email-   homesforyou@frontier.com

View ALL available Houses on the market on my website

Licensed in the State of Oregon

***I’M ALWAYS HAPPY TO HELP YOU AND YOUR REFERRALS***

Thanks you Lewis Holden for the original article sited here.

Lewis, Holden, and Holden Lewis Holden is a personal finance writer for NerdWallet. He previously covered mortgages and real estate at Bankrate. Read more twitterTwitteremailEmail. “Tax Plan Compromise: What Happens to Homeownership?”NerdWallet, 20 Dec. 2017,

 

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Gorgeous Gresham home! $348,000 3 possible 4 bedrooms, 2 1/2 baths, RV parking

2170 SE Elliott Place Gresham, OR 97080~$348,000~ RMLS# 18434917!

This wonderful home showcases rare and desirable architecture reminiscing to Frank Lloyd Write. Inside, the large windows flood the house with light and give the impression of a wall of windows. The soaring vaulted ceilings also make the house feel open and flowing. The spacious dining room sports a custom and beautiful light fixture and leads to a slider that ushers you out to a back deck overlooking your large fenced back yard. The back yard has RV gates on the “Regner road” side to enable you to easily pull your RV in. There are also TWO tool sheds included!

The kitchen is large and all appliances are included. You’ll love the gorgeous hardwood floors that’s spill out to the dining area. This home is perfect for entertaining or possible dual living situation.

The gigantic 27 X 13 family room could be divided to make a 4th bedroom? Many uses possible. The family rooms features a cozy wood fireplace for those chilly winter and early spring nights.

This home has so many extras and amenities that are sure to please:

Central air

Fenced back yard

RV gate and RV pad

2 tool sheds

Vaulted ceilings

New roof & gutters in 2008

New exterior paint in 2008

Cul-de-sac location

Fresh interior paint

Large .21 acre lot with possible room for shop

Gigantic Family room (could be divided to make 4 bedrooms, and still have a big family room)

New front door in 2009

Whole house remodel in 2008

2 cozy wood burning fireplaces

Useful back deck

Gorgeous hardwood floors

All appliances included

Xtra big kitchen big enough to add an island

Oversized, extra deep 2 car garage, with man door

 

for more information please call, email, or text.

Five Star award recipient 2011-2018 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent

Oregon First, Realtors, Direct 503.380.9634, Email-   homesforyou@frontier.com

View ALL available Houses on the market on my website

Licensed in the State of Oregon

***I’M ALWAYS HAPPY TO HELP YOU AND YOUR REFERRALS***

GORGEOUS GRESHAM TOWNHOUSE BY THE GOLF COURSE $174,999

1704 NE Hogan Gresham, OR $174,999, RMLS 18466084.

Open and flowing floor plan greet you when you enter this cheery Townhouse. Completely and tastefully remodeled throughout showcasing neutral timeless colors!

Some of the features include, 15 X 12 open Livingroom with gorgeous laminate flooring (new in 2016) and slider to relaxing patio that overlooks Burlingame creek is sure to delight you for years to come. Enjoy your spacious master that has a jumbo 10 X 5 walk in closet and its own fabulous covered deck for your year round use.

The light & bright remodeled kitchen features all new cabinets, new flooring, SS dishwasher, SS stove, and SS Bi-microwave (all in 2016). The Fridge and clothes washer and dryer stay too! Literally ALL the appliances you need are included!

Both bathrooms are sparkling clean and remodeled to please. This unit includes covered parking #1704. This unit also includes plenty of storage including an outside storage on back patio and double hall closets on the upper floor. Reasonable monthly HOA fee covers water, sewer, garbage, pool, rec-center, exterior maintenance. Roof and Exterior painted on this unit in 2016. Perfect location and priced to sell! All you need to do is move in and start enjoying your low maintenance and carefree lifestyle! WELCOME HOME!

New: Doors, ceiling fan, baseboard heaters upstairs in bedrooms, carpet, remodeled upper bath, upper bedrooms new baseboard molding, new lights in bedrooms and bathrooms.

2016: garbage disposal, flooring lower level, stainless steel dishwasher, stainless steel stove, stainless steel BI-microwave.

I just love the higher end qualities and standard or living for a fraction of the price. I love the affordability of this home. All you need to do is move in and enjoy your life! I love the creek behind to enjoy the wildlife. Take a look, you may find you love it too!

WELCOME HOME!

Five Star award recipient 2011-2018 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent

Oregon First, Realtors, Direct 503.380.9634, Email-   homesforyou@frontier.com

View ALL available Houses on the market on my website

Licensed in the State of Oregon

***I’M ALWAYS HAPPY TO HELP YOU AND YOUR REFERRALS***

 

 

SELLER and BUYER TESTIMONIAL 12-2017

“I always knew if I were ever to sell my home I would have Rachel do it. Her reputation precedes her!

Rachel knows her stuff. She knows who to call and how to get it done. You have questions Rachel gets answers. Dedicated and knowledgeable. And nice!!

She stuck with it and made it all work and was there with a shoulder to cry on if needed. And after all that found a perfect new home and literally made it happen. You won’t go wrong with Rachel. She gets the job done and becomes a friend in the process.

Love ya Rachel!”

-Martha Tidwell

Thank you Martha! It was my honor to work with you. I think your pretty awesome yourself.

Five Star award recipient 2011-2018 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent

Oregon First, Realtors

Direct 503.380.9634

Email-    homesforyou@frontier.com

View ALL available Houses on the market on my website

Licensed in the State of Oregon

***I’M ALWAYS HAPPY TO HELP YOU AND YOUR REFERRALS***

CLIENT TESTIMONIAL FROM AMY!

Thank you Ken & Amy for the opportunity to once again be of service. Being called in to help your Parents is an honor i don’t take lightly. I really appreciate the fine testimonial. Thank you!

I have known Rachel for over 13 years, this is not the first time I have worked with her. Rachel is always very professional, attentive to detail and easy to work with… she never left any questions unanswered and always responded promptly. She works hard for her clients and deserves the highest praise.. I would highly recommend anyone seeking a truly professional realtor to connect with Rachel.

Thank you Rachel for your VERY hard work and dedication.. we truly appreciate it.

Amy Koppler

Five Star award recipient 2011- 2018 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, Diversity Specialist, HOWNW, Earth Advantage Broker, MASTERS CIRCLE, CSA-Certified Staging Agent

Oregon First, Realtors

Direct 503.380.9634

Email-    homesforyou@frontier.com

View ALL available Houses on the market on my website

Licensed in the State of Oregon

***I’M ALWAYS HAPPY TO HELP YOU AND YOUR REFERRALS***

What’s happening in our Market now?

4th quarter info

This is a page from my quarterly newsletter that is chocked full of stats and current real estate numbers. We are looking good!  For information on your area and neighborhood please call, email, or text anytime!

Five Star award recipient 2011- 2018 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, Diversity Specialist, HOWNW, Earth Advantage Broker, MASTERS CIRCLE, CSA-Certified Staging Agent

Oregon First, Realtors

Direct 503.380.9634

Email-    homesforyou@frontier.com

View ALL available Houses on the market on my website

Licensed in the State of Oregon

***I’M ALWAYS HAPPY TO HELP YOU AND YOUR REFERRALS***

Client Review from Rachel P.

Thank you Rachel for taking the time to write this testimonial! i think your the best!

Rachel is nothing less than amazing. We sold our home during an emotionally difficult situation and she was immediately there to help and reassure us every step of the way. What seemed to start as a pretty cut and dry situation turned very difficult, she was patient with my weekly (probably more) melt downs, and she fought for our best interest. When dealing with people who were anything but professional she always stayed classy. I will definitely be calling Rachel the next time I need a realtor. Her years of experience and passion for people makes her the best around.

Five Star award recipient 2011- 2018 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, Diversity Specialist, HOWNW, Earth Advantage Broker, MASTERS CIRCLE, CSA-Certified Staging Agent

Oregon First, Realtors

Direct 503.380.9634

Email-    homesforyou@frontier.com

View ALL available Houses on the market on my website

Licensed in the State of Oregon

***I’M ALWAYS HAPPY TO HELP YOU AND YOUR REFERRALS***