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Paying off my house and the BIGGEST load of CRAP in real estate.
Aug 30th 10
Are tax deductions worth the interest?
Should you pay off your mortgage? I think most people should.
Today I’m talking about mortgages, paying them off and what I consider to be a load of crap pushed on home buyers by the lenders of America, accountants and YES the real estate brokers.
I’ve never understood why everyone says “oh you have to have a mortgage because you get the tax write off.”
I say BS. Wouldn’t it be better to have a paid for house with no interest payment and just pay the tax?
Here’s my way of thinking and no it didn’t originate from me. I was raised by two depression era grandparents that were basically in a steady savings cycle preparing for the next GREAT DEPRESSION.
(BELOW-I may be off a little but I hope you are getting the picture. I’m going off memory as I did not go into the basement and dig out my tax returns to write this post.)
Two years ago I remember looking at my year end taxes and seeing that my wife and I had paid around $14,000 in interest to the bank over the year. I also noticed that my WONDERFUL tax deduction was around $2,400.
So basically I have to pay a bank ~ $14,000 in interest to keep from sending the government $2,400. Is this the Great American Home Tax Deduction everyone says is so wonderful? Not to mention over the life of these mortgage loans you pay hundreds of thousands in interest to get in my opinion “NOT MUCH” in the way of a deduction.
It looks like a load of goods the banks & government put together to make us feel batter about all the interest the banks charge us.
Personally I think I would rather send the government their tax and just keep all my interest. Besides living in a paid for house has got to be a GREAT FEELING. Think about it. You are recession proof. If you lost your job you could easily go work at an hourly job and make the yearly tax and insurance payments. Hopefully it would only be temporary..right?
Vacations Paid For in Advance
I talked to my accountant about ways to payoff our house and told him that over our lifetime it would save my wife and I nearly $200,000 in interest. He told me “oh, well if you do that you won’t get your deduction.” I explained my theory to him and he still tried to tell me I needed this deduction. When I asked repeatedly why I have to have this deduction he couldn’t give me a real answer. He like so many others in the country have been brainwashed into thinking that we MUST have our deduction. Again BS.
Pay your house off and live like a Prince or Princess and have your income to save, invest and SPEND as you wish. Can you imagine that?
The other side is my investment adviser. He says “Steve you need to be putting money away for retirement.” Well, we are still saving. He says all that money in the house could be earning more money in the market. REALLY. Have you seen the market? I don’t know about you but a few more of these every 10 year implosions and I’m done with “the market.” I have highly paid professionals begging for alternatives to the stock market. They all love real estate right now. YEAH.
If you have your house paid for at an early age and have the remaining years of your working life to save, invest and actually enjoy a paid for vacation how would that feel? I think it would feel pretty damn good wouldn’t it.
No matter how you do it I think paying off your home as quickly as possible is the best way to go. Here is a recent article to help prove that it isn’t just me thinking this way. A lot of Americans are starting to see the benefits of being free from all debt and especially the home mortgage.
I think this guy, Dave Ramsey, has a lot going on in his debt free classes. A few years ago my wife and I went to his Financial Freedom class in Colorado Springs. We were basically on his program without knowing it. His word is true and if you stick with it you too will live like no one else so you can then live like no one else. Think about it. If you live frugally for several years to payoff all your debt it will allow you to live the rest of your life debt free. Plus along the way you will learn tricks (personal self control) that you apply once you become debt free that will save you money after you become debt free. In our society putting off our instant gratification so we could possibly live a better and more financially rewarding life in the future is a TOUGH sell.
I’m sure there are people out there that have different circumstances, needs and investment goals so this may not apply. But I believe for the average middle class person/family this is a viable option and should be explored. Just a few years ago talking about this to friends and clients was a dead end and they all thought I was a crazy person but now they seem to be coming out of the wood work to share their new goals of paying off their house.
Steven Beam is a CRS Realtor in Parker, Colorado. See client testimonials.
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Newlin Meadows Homes for Sale in Parker. Colorado
Meridian Village in Parker Colorado
Townhome for Sale in Parker Colorado
Lone Tree Colorado Homes for Sale
Home for Sale-4056 South Atchison Way, Aurora, CO $220,000
Aug 9th 10
4056 South Atchison Way, Aurora, CO 80014
Home for Sale
$220,000
4056 South Atchison Way, Aurora CO
Check out the Video below!
- 3 Bedrooms, 3 bathrooms.
- Unfinished basement
- 2117 Sqft.
- Cherry Creek Schools
- Formal dining room.
- Here is the MLS Sheet
- Need to Contact Steven Beam? Click Here!
Click here to see 4054 South Atchison Way that is next door. This home is also for sale.
5 year old getting air. Garrett has no fear.
Aug 5th 10
Townhome for sale in Parker Colorado. Video. Mann Creek Drive
Aug 3rd 10
Price $157,000
19440 East Mann Creek Drive, Parker Colorado 80134
19440 East Mann Dr. Townhome for sale in Parker Colorado $ 157,000
Aug 3rd 10
19440 east mann creek drive
Parker colorado real estate
Aurora Colorado Home for Sale – 4054 South Atchison Way 80014
Jul 27th 10
Aurora Colorado Home for Sale
Everything in and out of the home has been replaced with new materials. An American Home Shield Home Warranty has already been purchased for the new buyer.
See the Virtual Tour of 4054 South Atchison Way, Aurora Colorado
Asking Price $265,000
3 Bedrooms and 3 bathrooms
- Base (wide) Moldings, trim
- New carpet throughout house
- Solid doors throughout house
- New hardware throughout the house
- New windows through out
- New Furnace & AC
- New vents and registers throughout house
- Tankless hotwater heating system for entire house
- Interior paint – three tones (trim, walls, ceiling) throughout house
- Entry – custom front door, 18” tile flooring, new lighting (flush mount & spot lighting)
- Kitchen – 18” tile flooring, cabinets, coffered ceiling, recessed lighting, granite tile counter tops, new stainless steel appliances, stainless steel sink & faucet, new disposal, custom window coverings
- Front Porch – off of kitchen, manmade weather proof materials, lighting
- Dining Room – 18” tile flooring, new light fixture
- Family Room – new carpet, lighting, gas fireplace w/ remote controls
- Downstairs Bathroom – tile flooring, new shower, new vanity, new toilet, new sink/
- faucet, lighting, fan, added door to patio, oversized mirror
- Downstairs Bedroom – new carpet, lighting, doors, window, custom window treatments
- Wet Bar – converted downstairs laundry room to wet bar w/ dishwasher and beverage cooler
- Basement – finished basement w/ recessed lighting,windows, custom cabinetry for
- CD’s, videos and albums. Laundry room and utility room.
- Upstairs Master Bedroom – carpet, doors, custom (remote control) window coverings, Biometric in-wall safe, ceiling fan, lighting
- Master Bathroom – tile flooring, new doors, new vanity, new sink, new faucet, new toilet, new shower, new lighting, custom closet organizer, oversized mirror
- Master Bedroom Exterior Deck – rebuilt using weather proof, zero maintenance man made materials
- Guest Bedroom – new carpet, new doors, ceiling fan, lighting, window, custom window coverings, in-wall safe
- Guest Bathroom – new tile, new tub, new shower doors, new vanity, new sink, new faucet, new toilet, new window, recessed lights, oversized mirror
- Upstairs walk-In Closet – new door, new carpet, custom closet organizer, new light
- Garage – new garage door opener w/ exterior touch pad, lighting, paint, painted flooring
- Exterior paint – two tones
- New Roof – asphalt
- New gutters and down spouts
- New mail box
- New sprinkler system + water lines run to all pots on patio’s
- New landscaping front and back yard
- Rod Iron – fence & gate to backyard
- New cable for TV
- New Phone lines
- New landscape lighting
- Updated electrical service
- Updated switches and outlets throughout the house
NEXT DOOR! For Sale-4054 South Atchison Way, $220,000.
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- Wet bar
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- Patio
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- Master
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- Master Bedroom
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- Master bath
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- Breakfast Nook
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- Kitchen
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- Family Room
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- Family Room
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- Patio
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- Backyard
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- Dining Room
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- Formal Dining
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- Deck off Master bedroom
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- Guest Bedroom 1
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- Guest Bedroom 2
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- Guest bath 2
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- Guest bath
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- Hot Tub
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- Aurora Colorado Home for Sale
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- Aurora Colorado Home for Sale
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- Aurora Colorado Home for Sale
Douglas County Colorado Young and Wealthy
Lone Tree Colorado Homes For Sale
Pradera Golf Club Home Sales Report
Sweet Campsite in Colorado
Jul 26th 10
I love this campsite near Mt Antero a true Colorado fourteener! My kids love it.
Steven Beam | Web
RE/MAX Alliance | Parker Colorado
303-941-4663
Fax: 720-302-2900
Camping with kids in Colorado is big FUN!
Jul 20th 10
Lake Baldwin in Colorado - Elevation 12,088
Every kid remembers their very first real camping trip. I’m not talking about a tent in the backyard but a real camping trip up in the Colorado high country. I highly suggest it if you are looking for fun things to do with your kids.
Campsite
Last week my 5 year old son and I took a two night camping trip up to Mount Antero outside Buena Vista, Colorado with our great friends and neighbors Steve & Connor Smith.
Adventure Hike around the lake
This was a full on guys camping trip which included the following: adventure hikes, campfires, fishing, NEW pocket knifes for the boys, (all fingers made it home fine) marsh mellows, steak cooked over an open fire, panning for gold in the river, BB gun shooting, a true Colorado weather event with hail, sleet and rain all at once, hiking on a glacier, and yes the coveted brand new wrist rockets (That video is funny) otherwise known as sling shots. Steve & I actually dominated the playing time with the sling shots as we were hurling stones into the lake about 100 yards away. I highly recommend wrist rockets for your next camping trip!
No matter where you decide to go Steve & I both decided that we were going to make every effort on our part to make sure the boys had a great time, were safe and stayed warm.
It can be a daunting task for some kids to jump out of the high tech world we live in and into nature where there are no electronics to entertain them at their whim. Both boys were excellent and not one single complaint was filed about not having a TV or other comforts of home. I was very happy.
View from our camp.
The road up to this campsite was about 1.5 hours of serious 4 wheel drive action. Some of it probably not doable in a smaller SUV with low ground clearance. However or wherever you decide to go isn’t the issue. The main thing is that you get out and enjoy your kids and the Colorado back country.
Other links to fun things to do in and around Parker Colorado.
I still remember my first big camping trip with my Dad and I’m sure these kids will too. It’s amazing how in such a short period of time and at a young age a lifetime of memories can be made. We have been home for over a week now and my son has asked to go camping just about everyday so I’m sure another trip is just around the corner.
“There will always be work excuses and reasons to put off a great trip like this. Life is way too short and we have entirely too little time with our kids as young people to not do something like this. Work can wait so go have fun!”
Idyllwilde in Parker Colorado Real Estate Market Report
Jul 8th 10
This is the real estate & homes sold market report for Idyllwilde and Reata North in Parker Colorado. These are homes that sold and closed from January 1, 2010 to June 1, 2010.
This homes sold report does not inclde FSBOs so there could possibly be other sales.
Idyllwilde is a neighborhood in Parker Colorado that was developed and built by Village Homes. Twice winning the neighborhood of the year for the Denver Metro area. Amenities such as a great trails, parks and a massive pool and Clubhouse make Idyllwilde a definite MUST SEE for any Parker Colorado home buyer.
Home prices in Idyllwilde range from the MID $200’s to well over $500,000.
“It’s been a GREAT year so far for Idyllwilde. In all of 2009 there were 16 homes sold and closed. We are almost at 2009 levels for only six months in 2010 with 15 sold and closed homes in Idyllwilde.“
Market Report for Idyllwilde
- Total Homes sold in Idyllwilde from Jan 1, 2010 to June 1, 2010 = 15
- Average Total Days on Market = 104
- Average NET Sales Price = $346,643 (NET is after any seller concessions)
- Average Original Asking Price = $376,913 (asking price before any price reductions)
- Average Asking Price at Time of Sale = $347,591
- Average Price Per SQFT = $143
- Lowest NET Sales Price = $265,000
- Highest NET Sales Price = $514,500
- Highest Original Asking Price = $614,900
- NET Volume Sold = $5,199,650
Canterberry Crossing Real Estate Homes Sold Market Report
Idyllwilde Home Currently For Sale – VIDEO
Article about a new listing in Idyllwilde by Village Homes
Fun things to do in and around Parker Colorado
Garrett busted his lip. Parker Adventist Childrens Hospital.
Jul 5th 10
Steve Beam
303-941-4663
Steve.beam@comcast.net
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Most Recent Posts
- Paying off my house and the BIGGEST load of CRAP in real estate.
- Home for Sale-4056 South Atchison Way, Aurora, CO $220,000
- 5 year old getting air. Garrett has no fear.
- Townhome for sale in Parker Colorado. Video. Mann Creek Drive
- 19440 East Mann Dr. Townhome for sale in Parker Colorado $ 157,000
- Aurora Colorado Home for Sale – 4054 South Atchison Way 80014
- Sweet Campsite in Colorado
- Camping with kids in Colorado is big FUN!
- Idyllwilde in Parker Colorado Real Estate Market Report
- Garrett busted his lip. Parker Adventist Childrens Hospital.
