"I know who to turn to next time"
"Thank you for all of your help. I absolutely love the house, the location, the quietness- it is perfect for me! You were such a tremendous help with everything. There is no way I could have done any of it without you~ and I know who to turn to next time!! "
Kim Zubke - The Woodlands
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Tax Considerations >Tax Breaks
Most homeowners are keenly aware of the interest tax deduction on their home loan, but there are many other tax breaks which are often overlooked at income tax time. Pro-rated property taxes and mortgage interest in the year of sale are deductible. You will find these amounts listed on your closing settlement statement. If you paid off your mortgage and had to pay a pre-payment penalty, it qualifies as tax deductible interest. If you paid an "acquisition mortgage loan fee" on a home loan, this fee can be deducted as itemized interest. Home improvement loan fees are also deductible. Any remaining loan fees from re-financed or paid-off mortgages are fully deductible at the time of the mortgage payoff.
Certain items don't qualify as deductions, but can be added to the cost basis of your home, such as transfer taxes, recording and title fees, and special local property tax assessments for new sidewalks, streets, or sewers.
Don't be intimidated by the tax code! A little research or consultation with an expert can help you maximize your real estate tax advantages.
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| Q |
What 45,000 sq.ft. home on 5-acres on Lake Washington is described as an 'adventurous house' by its owner?
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| A |
The home of Microsoft's Bill Gates ($40+ million) has a wall of 24 video monitors featuring art and film and a 60-foot pool. |
 See More Real Estate Trivia > |
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Claudia Hohlt
Homes Plus Real Estate Services
19755 Hwy 105 West
Montgomery, TX. 77356
Phone: 936-537-1656
Fax: 936-588-3783
Alternate: 936-582-7710
Email: claudia@claudiahohlt.com
I am a long time Montgomery County Realtor who is very familiar and committed to this area. If you are considering buying or selling, I have the experience necessary to efficiently and effectively manage the process and help you maximize value in your next real estate transaction. Helping people on the move is my business........    
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