REALTOR Timo's Blog

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How Safe are our Cell Phones?

How Safe are our Cell Phones?

Research indicates long-term cell phone use may pose health risk

By Larry West, About.com Guide

I was reading this great report and thought I must share this with you all. Please stay healthy, I need all my friends.

Realtor Timo KC

Timo Yannopoulos
CRS, GRI, WHS, e-PRO, Diversity
Certified Residential Specialist Consultant
Mobile 816-217-4956 Timo@AskTimo.com www.AskTimo.com

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Kansas City Missouri and Shawnee Mission Kansas Schools are closing

Kansas City Missouri and Shawnee Mission Kansas Schools are closing

As many parts of the country, the Kansas City Missouri School Districts is also planning to shut down several schools from its district. The Shawnee Mission Kansas School District is planning the same.

If I am not mistaken by the end of this spring the Greater Kansas City Metro will approximately close 30 schools. WOW!

Lack of cash is the reasons why officials are making those decisions. Yeah, it is all about money, I understand. I heard that song before, “money makes the world go around”. Hm!

According to my humble knowledge, each Nation power is measured by its Gross National Product, “GNP”, (Monetary value of all of a nation's services and goods produced in a given period of time).

Is improving the production, the professional involvement, the expert's engagement and their earnings good for Nations GNP?.

Yes it is.

I am asking myself, wouldn't additional education improve productivity as well as the increase of the Nations GNP? Absolutely! Education is the secret key to each nations success.

At this point, I assume that we all agree that USA urgently needs some additional education. If so then why are we closing the schools?

Some will answer, because we need the money, or we do not have the money. Isn't that the easy way to exit from the responsibility to finding a better and more. future oriented solution? Hm I am thinking again!

So what are we doing now?

Well, one easy solution will be raising the City and State taxes. Some of us will say, OH NO Taxes? Oh my God, I do not want to pay more taxes, I am paying enough already.

Yeah! I have heard that old song so many times, so that I can sing like my favorite song.

The US citizens sing that short NO TAX song more often than the National Hymn, the song of praised (honoring God, one's country).

Dear USA friends! Let me tell you a short answer to the US Taxes. The United States of America is a real TAX PARADISE. Never forget that.

I know very well from my 30 years living experience in Germany. Trust me, I know it.
Though I well know the German Tax money is better spent than the US Tax money.
That is another subject that we can argue at a later time.

Did you know that the closing of the schools the Kansas City and Shawnee Mission Mayors will have to spend other Taxes $$ to secure those empty buildings from the potential vandalism? How would you like spending that kind of tax $$?

Keep all the schools open and convert them to learning a Trade. Teach the kids how to repair a building, how to do pluming and painting, how to do electrical works, how to install new windows and doors. Teach them how to repair the floors and/or roofs.

Who is paying for all the building materials?

A very simple answer.

Just ask Lowes, Home Depot and all those companies for a tax deducible donation or a low cost delivery.

Keep teaching those kids a trade, make the kids well trained professionals give them a trade diploma, prepare them to start their own business that will contribute to the US National GNP.

If your children are still going to school and looking to buy a new home, I recommend you to check if schools in that area aren't effected

Let us fix America first.

Realtor Timo Kansas City

 

Timo Yannopoulos
CRS, GRI, WHS, e-PRO, Diversity
Certified Residential Specialist Consultant
Mobile 816-217-4956 Timo@AskTimo.com www.AskTimo.com

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Monthly News Letters Kansas City Metro

Monthly News Letters Kansas City Metro

Brough to you by A Certified Residential Specialist

Stand Up and Be Counted.
Key Dates for 2010 Census

Homebuyer Tax Credit Update

Homeowners Keep Remodeling Projects Small

Please feel free to subscribe to this monthly newsletter

MAR 2010

Timo Yannopoulos
CRS, GRI, WHS, e-PRO, Diversity
Certified Residential Specialist Consultant
Mobile 816-217-4956 Timo@AskTimo.com www.AskTimo.com

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ABOUT GOOGLE WAVE

About Google Wave

Look in to the future of great tools we all can use. This video is only 1 hour and 20 minutes long. It is worth watching and understand how the World can be connected.

As a REALTOR I am thinking that, the Listing & Buyer's agents, 2 title companies, mortgage lenders, 2 office administrators, and more, all can be connected for each individual transaction. No Papers send back and forth no e-mails, no faxes. No excuses I did not receive this document or signature.

Man isn't that cool? I am sure this is going to change the way we communicate.

I LOVE IT!

Timo Yannopoulos

CRS, GRI, e-PRO, WHS, DIVERSITY

Kansas City REALTOR

Google Wave Developer Preview at Google I/O 2009

Timo Yannopoulos
CRS, GRI, WHS, e-PRO, Diversity
Certified Residential Specialist Consultant
Mobile 816-217-4956 Timo@AskTimo.com www.AskTimo.com

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Top 10 Tax Tips By TRex Global

TOP 10 TAX TIPS

#1 RENTAL INCOME TAX TIPS The lower your rental income for the year, the less that you will owe in taxes. By minimizing your rental income, you can reduce your taxable liability. This does not mean you should stop collecting rent, it just means you might not have to include all the rent you've collected in your taxable rental income.

1. You don't have to report your rental income if you rented out your property or vacation home for 14 days or less.

2 Rental income is taxable in the year it is collected. If you did not receive the last month's rent in the current year, do not report the income in the current year.

2 Exclude Security Deposits from your rental income if you plan on returning the deposits at the end of lease.

#2 MINIMIZE TAXABLE GAIN USING SALE EXPENSES

Many real estate investors overlook deductions when they sell their property. If you sold your rental property for a gain, make sure to minimize taxes by accounting for sale expenses - like closing costs, which can be found on the property's settlement statement. You should deduct Commissions Paid, Title Charges, Recording and Transfer Charges, and Additional Settlement Costs from the Contract Sales Price. This will help you minimize gain, and lower the tax liability on your sold property

#3 LOOK FOR PROPERTIES WHILE ON VACATION

Be sure to deduct the cost of expenses incurred while looking for new property. Travel expenses in connection with the management of your investments are tax deductible if they are ordinary and necessary. At least half of the time you spent away on travel must have been spent doing business, and the primary cause for travel must be business. Common business expenses that you can deduct while scouting for new investment properties are fees for travel, lodging, and services.

#4 ORDINARY AND NECESSARY ADVERTISING EXPENSES

Be sure to deduct any advertising expenses that are considered “ordinary and necessary” for your rental property. Common expenses can be advertisements on the radio, in the newspaper, classified lists, and phone books. Other expenses may include the cost of signs, banners, and postage for mailers. You can even deduct the cost of advertising for vacancies, including the cost of building a web site – just be sure that they are “ordinary and necessary” for your rental activity.

#5 DEDUCTING TENANT UTILITIES THAT THE LANDLORD PAYS

Utilities paid by the landlord for tenant use are fully deductible, provided that this is part of the rental agreement. Landlords often incur expenses to light common areas or operate security systems on their properties. Other common expenses include power, water, gas, and cable, and internet. Any utility costs incurred during a period of vacancy are also fully deductible - but be careful. Deducting large expenses during periods of vacancy can be a reason for the IRS to become suspicious.

#6 DEDUCTIBLE START-UP EXPENSES

Business start-up costs are generally capital expenditures, but you can elect to deduct up to $5,000 of business start-up costs incurred in 2008. The $5,000 deduction is reduced by the amount your total start-up costs exceed $50,000, and the remaining cost must be amortized. Start-up expenses are costs incurred while creating an active trade or for investigating the creation of a business or trade. This includes expenses incurred when acquiring an existing for profit activity, as well as expenses incurred during the anticipated production of income.

Common start-up expenses may include:

  • Accounting fees
  • Analysis, survey, or study of potential markets, products, labor supply, transportation facilities, etc.
  • Advertisements for the opening of the business.
  • Office equipment and furniture, setup costs
  • Salaries and wages for employees who are being trained and their instructors.
  • Travel and other necessary costs for securing prospective distributors, suppliers, or customers.
  • Salaries and fees for executives and consultants, or for similar professional services

Keep in mind that certain expenses must be amortized over 5 years. Such expenses include legal expenses and expenses for setting up the business structure (as an LLC, etc...)

#7 SELL PROPERTY TO YOURSELF

Selling property to your own S-Corporation may be beneficial in some specific situations, like if you are trying to meet requirements for the two year rule ($250/500k exclusion), or if you are trying to take advantage of depreciation on appreciated property. For example, say you lived in a property for three years, and rented it out for the next seven years - since you haven't lived there for two out of the last five years, you cannot sell the property as a primary residence to avoid the capital gain. However, after moving out of the property, you sell it to your own S-Corporation, which allows you to exclude capital gain (up to $250k, $500k if married filing jointly) because requirements for the two-year rule have been met. The other advantage is you can have a new basis for depreciation on your appreciated property. Selling to your S-Corp isn't for everyone though. You should avoid using this strategy if you cannot take advantage of the exclusion amount.

#8 PAY YOUR KIDS, OPEN THEIR IRAS

If it looks like you will have a large taxable liability at the end of the year, it's not a bad idea to hire your kids to landscape your rentals. You can pay your kids to do work on your properties, and put the money in IRA accounts for them. This is especially a good idea if you've already maxed out on your and your spouse's IRA contribution for the year. You're better off avoiding the taxes on your extra income, and the money will be safe in a tax free shelter. And of course, it's a great way to help your kids prepare for their first property!

#9 TRAVELING AWAY FROM HOME

You can deduct the expense of traveling away from home if the primary purpose of the trip was to collect rental income or to manage, conserve, or maintain rental property. You can also deduct expenses incurred while staying overnight when traveling for business. You cannot deduct the cost of traveling away from home if the primary purpose of the trip was the improvement of your property. You can read Publication 463 to learn the specifics.

#10 HIRE FAMILY MEMBERS TO MANAGE YOUR PROPERTIES

Property management fees are fully deductible, so consider hiring someone that you don't mind paying, like a family member. Obviously, the expense of your own labor cannot be written off, but that doesn't mean your spouse or children have to work for free. By hiring family members, it won't bother you to pay management fees because the expense is fully deductible, and the money stays within your family. Keep in mind you'll have to withhold Social Security and Medicare taxes for the income you pay. AND of course, hiring a professional is always a good idea. Your teenager might not be the greatest candidate to collect rent :) Everyone's tax situation is different, and this information should not substitute professional advice. Taxpayers should always consult with their tax advisors to consider specific factors that might affect their situation. You can also refer to IRS Publication 535 to learn more about business expenses.

To learn more about saving money on taxes, try the property management software and other money saving real estate software for free

 

T-Rex Global does not provide legal or tax counsel or advice. Everyone's tax situation is different, and this information should not substitute professional advice. Taxpayers should always consult with their tax advisors to consider specific factors that might affect their situation. You agree to indemnify and hold harmless T-Rex Global for any damages or actions arising out of Your use of or reliance on the information provided by T-Rex Global

Timo Yannopoulos
CRS, GRI, WHS, e-PRO, Diversity
Certified Residential Specialist Consultant
Mobile 816-217-4956 Timo@AskTimo.com www.AskTimo.com

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Bloomenergy New Energy Technology for the future

Have you ever read and/or seeing this new technology called Bloomenergy?
Is this future? Or they are not going to let it happen. Maybe some multimillion corporate sharks are going to destroy it and bury it in their archives.
Who knows soon we' ll find out. At least we know it is available.
Watch the 60 Minutes interview or visit the website for more.

I was amazed to see this video, I am sure you will love it too.

Timo Yaanopoulos
Kansas City, MO


Watch CBS News Videos Online

 

Timo Yannopoulos
CRS, GRI, WHS, e-PRO, Diversity
Certified Residential Specialist Consultant
Mobile 816-217-4956 Timo@AskTimo.com www.AskTimo.com

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It is not whom you know, instead whom you stay in touch with.

It is not whom you know, instead whom you stay in touch with.

Knowing people and staying in touch with them is important. The availability and willingness to assisting your friends and listen to what they have to say is what builds trust. We all enjoy being surrounded by friends we trust.
Respecting your friends and their integrity is the magic.
Better to loose your eye than loosing your name. "Old Greek saying".

Just let me what can I do for you

Timo Yannopoulos

Kansas City, MO

Featured Kansas City Listings

Timo Yannopoulos
CRS, GRI, WHS, e-PRO, Diversity
Certified Residential Specialist Consultant
Mobile 816-217-4956 Timo@AskTimo.com www.AskTimo.com

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Prequalifying that Short Sale Listing before showing...are you doing it? Questions you should be asking.

 

Via Amy Jones (Chandler, Arizona RE/Max Excalibur):

chandler short saleWe qualify our buyers before showing them a home, right? But are you qualifying the short sale listings you're showing them? If not, you may be wasting your time. 

By contacting the listing agent and asking them a few basic questions prior to showing their listings you'll  accomplish 2 things.

  1. You'll save you and your buyers some and frustration time by not showing or writing an offer on a property that's not going to qualify as a short sale and consequently will never close.
  2. Some Listing Agents will finally start doing their homework before taking any listing and slapping "short sale" on it.

When I meet with buyers looking for a home in Chandler, AZ, my first visit with them will include some counseling about the types of properties available for sale in our area. 

  1. Traditional resales
  2. New home construction
  3. Short Sales
  4. REO's

I will explain the process with each type of sale.  When we cover short sales, I'll go over my list of questions that I will ask any listing agent prior to showing a short sale listing and explain the reasons for each question and I'll obtain the buyers approval to eliminate Short Sale listings based on my findings so we're not wasting time. 

I will tell you that buyers agree 100% of the time.  Buyers do not want to sit around waiting on a short sale that's not going to close and loose the opportunity to find one that will.

Here are a few questions I ask any short sale listing agent (and another reason why listing agents should be responding to inquiries in a timely manner.  If they don't respond...I don't show).

  1. Do you have any offers?
  2. Have you submitted any offers to the lender(s)?
  3. How many offers will you be submitting to the lender(s)? If it's more than one, the interview is over and I'm moving on to the next property.
  4. Have you prequalified the seller and do they have a hardship?
  5. Have you reviewed their financials and do they have an income shortfall?
  6. Have you verified the parties on the Title and Deed?
  7. What stage of foreclosure is the property in?
  8. How many lenders are involved?

The answers to these questions will determine whether or not we'll look at the property. Some of the answers will give me an idea of how long the process will take and depending on how long my buyer is willing to wait, whether or not we'll look at the property. 

The answers will also be a very good indicator of whether or not the listing agent knows what he/she is doing.  I'm willing to help a listing agent along, if certain criteria are met, but if the agent has not done their homework, they've just flunked my interview and we're moving on.

  _______________________________________________________________________________________________________________________________

    Chandler homes for sale               Sun Lakes Homes for Sale               Gilbert Homes for Sale         Tempe Homes for Sale       Ahwatukee Homes for Sale
Search Chandler Homes      Search Sun Lakes Homes       Search Gilbert Homes        Search Tempe Homes     Search Ahwatukee Homes

Amy_Jones_RealtorAmy Jones, REALTOR, ABR, CNE, EPro, CDPE
Direct~480-250-3857
Chandler, Sun Lakes, Gilbert, Tempe & Ahwatukee Real Estate
Phoenix Business Journal "Top 50 Real Estate Agent"
 
REMAX Excalibur

4921 S. Alma School Rd
Chandler, Arizona 85248

Visit www.AmySellsAZ.com for more information including free MLS search.
Visit
www.PhoenixArizonaRealEstateBlog.com  for a comprehensive Phoenix Area Blog.
Visit
www.SunLakesBlog.com about living in Sun Lakes, AZ.

 

Timo Yannopoulos
CRS, GRI, WHS, e-PRO, Diversity
Certified Residential Specialist Consultant
Mobile 816-217-4956 Timo@AskTimo.com www.AskTimo.com

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Lenders Reportedly Skirting New RESPA Good Faith Estimate Through Loan "Worksheets" And "Fee Estimates"

 

Attention Consumers. Don't let the banks ruin your finances.

 

Via Richard Vetstein (Vetstein Law Group, P.C.):

(As a lender/buyer closing attorney--file this under "Don't Shoot The Messenger! And Blame HUD, Not Me!")

The Los Angeles Times and other media outlets are claiming that lenders' use of loan cost worksheets and estimates are a "sidestep" of the new RESPA mandated Good Faith Estimate which went into effect on January 1.  HUD officials say they plan to conduct a review of the growing use of “worksheets” and “fee estimate” forms by mortgage lenders providing quotes to home buyers and refinancers.

The new closing cost rules under the Real Estate Settlement Practices Act (RESPA) significantly changed the manner in which lenders are required to estimate loan and closing costs.  Many charges cannot deviate at all, or at most by a 10%, from the Good Faith Estimate to the closing.  That’s in stark contrast to earlier rules, which essentially allowed some lenders to quote low estimates of total costs, with no responsibility for the final dollar charges at closing, HUD contended.

Lenders -- many of whom feel the new GFE is the single worst form the government has ever dumped on the mortgage industry -- respond that since the new GFE has a number of major deficiencies, such as not providing a total monthly cost payment, seller paid items and most importantly, total cash-to-close, it justifies the worksheets/estimates. 

Lenders, what are your complaints with the new GFE and do think providing these worksheets will ultimately help consumers?  Do you use them? Are the criticisms about the worksheets unfair? Did HUD get it wrong with the new GFE? (I think I know the answer to that!). What can HUD do to improve it?

There is nothing explicit in the new RESPA rules prohibiting the use of these cost worksheets/estimate. However, since this is on HUD's radar, if lenders insist on using a worksheet, my recommendation to them is explain clearly to the customer, preferably with a written disclosure right on the estimate, that this is not binding and not a substitute for the new GFE. That way, if HUD comes knocking on the door, you've covered yourself.

My goal with this post is to get the conversation going on the new GFE, not to rail against the mortgage industry. I'm on your side! As Jerry Maguire said, "Help me, help you...help me, help you!"

On a related note, as buyer's counsel I now insert a rider provision into the P&S providing that the seller agrees to an extension (up to 7 days) of the closing date due to any RESPA/GFE related delays.

For more RESPA information, please visit my main blog, The Massachusetts Real Estate Law Blog.

 

 

Timo Yannopoulos
CRS, GRI, WHS, e-PRO, Diversity
Certified Residential Specialist Consultant
Mobile 816-217-4956 Timo@AskTimo.com www.AskTimo.com

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Kansas City Missouri Lake Front Property for sale.

8606 N Oregon Ave
Kansas City, MO 64154
 

New Lake Front Listing: Huge 1.5 Story 4 Bedroom 3Full Baths 2 Half Baths 3 Car Garage Formal Dining and Living, 2 fire places. Large kitchen with very large Breakfastoom Huge Finished walk out basement with wet bar and Pool table Great Family home, Fishing from your own back yard.

Click Here for details http://8606oregon.asktimo.com

 

Timo Yannopoulos
CRS, GRI, WHS, e-PRO, Diversity
Certified Residential Specialist Consultant
Mobile 816-217-4956 Timo@AskTimo.com www.AskTimo.com

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