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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.
Steven Beam Social Media Connect.
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
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
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
Canterberry Crossing and Villages of Parker Market Report
Jul 1st 10
No matter whether you love or hate math we all love to look at the REAL numbers for homes sold in our particular neighborhood. Below you will see a serious look at the numbers for Canterberry Crossing and The Villages of Parker in this real estate market report. All the homes sold in Canterberry or The Villages of Parker will be represented here UNLESS it was a FSBO. For Sale by Owner or an outside non-MLS builder sale. There are a very, very few of these in Canterberry or The Villages of Parker since the neighborhoods are both nearly sold out.
See every home CURRENTLY for sale in Canterberry Crossing and The Villages of Parker.
Steven Beam is a Parker Colorado CRS Real Estate Broker.
This will be a comparison between the sales from January 1, 2010 to June 1, 2010 and ALL of 2009 sales .
- Homes Sold in 2009 = 117 versus 50 for the first half of 2010.
- Average Days on Market in 2009 = 100 versus 79 DOM in the first half of 2010.
- Average Original Asking Price in 2009 = $349,208 versus $330,039 in 2010 so far. Original asking price means BEFORE any price reductions.
- Average Asking Price at Time of Sale for 2009 = $ 328,459 versus $311,716 for the first half of 2010.
- Average NET Sold Price for 2009 = $325,014 vs $312,772 for 2010. NET sales price is what the seller received after any seller concessions to the buyer.
- Average $ Per Sqft Sold in 2009 = $136 vs $134 in 2010. Price per sqft is figured on the sqft above ground not the basement.
- Average NET Sales Price vs Average Original Asking Price 2009 = 93.07 vs 94.77 – Tells us sellers are now pricing homes more in line with the market. A little more anyway.
- Lowest NET Sales Price in 2009 = $180,000 vs $204,900 in 2010.
- Highest NET Sales Price in 2009 = $625,000 vs $515,000 so far in 2010.
- Total NET Volume Sold in 2009 = $38,026,693 vs $15,638,583 for the first half of 2010.
Basically even though the market seems to be moving right along in 2010 (especially before April 30th when the tax credit was in play) this shows us that so far Canterberry and The Villages of Parker are a little behind 2009 at least for now. We will see what happens over the next 6 months.
Mainstreet Parker Colorado
Jun 18th 10
Parker Colorado Mainstreet
Mainstreet Parker Colorado
Taken with my iPhone
Parker Days Starts Today. Carnival Fun in Parker Colorado
Jun 11th 10
Parker Days Carnival
Parker Colorado | Parker Days
Parker Days Starts today June 11, 12 & 13th.
Parker Days is a big carnival held each year right here in Parker Colorado. Kids across Douglas County look forward to this each and every summer.
They set it up differently this year so be prepared. All the rides are now up on the hill away from the center of town. Up by the RTD parking lot.
The arts and crafts and food booths are still in the center of town and in O’Brien Park.
TIPS:
- Make sure to bring your own water. Drink and food lines are long and the carnival food stinks. Except the funnel cakes.
- Load up on sunscreen. Being up on the hill this year we should have a decent breeze but the sun is still going to cook you.
- Go early or late. Mid day is packed. The teenagers inhabit the park at night so the lull between the teens and mid day is usually good.
- Strollers are a must for small kids. Especially now that they have moved the rides up the hill from town.
Parking:
Hopefully they will allow us to use the RTD station up near the rides. It looks like behind Parker Station may also be available but they had a guy standing there checking to see if you were a Parker Station visitor or Carnival visitor.
The always good parking across from O’Brien Park on the West side of Parker Road is easy too. Just walk through the tunnel instead of trying to cross Parker Road. Safer and easier.
Howmeowners ANGRY Over Stonegate Pool Registration
Jun 9th 10
Stonegate is where I live. I love it here and generally have never had much of an issue with the HOA (Homeowners Association) until now.
“If it’s the last thing we do we will protect this POOL from NON-RESIDENTS”
OK what about the people that live here?
Apparently several homeowners were angry last year when on occasion some non residents invaded our pool. Evidently these homeowners really made a huge issues out of it and have NOW caused a major problem with pool registrations and getting pool passes.
Please understand that I am not alone in this beef. I’ve talked to dozens of homeowners through email and by phone and know that there are hundreds if not more that are just as angry.
Please feel free to leave a comment below. Click the comment link.
It seems the Stonegate HOA took it upon themselves to require that ALL Stonegate homeowners re-register this year at the same time. Ok now there are over 3500 homes in here and at least 2 people in every home plus the multiple kid homes so we are talking at least 7000 plus people. I would even guess 8000 plus people.
To register for the pool you need to do the following.
- Register at the HOA website
- Bring a copy of the receipt
- Bring a copy of our water bill
- Bring a Photo ID
First of all who keeps their water bill handy just for this occasion? We sure don’t. Yes I now know that you can have a new one emailed to you NOW but that wasn’t offered when this fiasco first started. I use my drivers license everywhere I go and can even bring them a Passport with my info but NOOOOOO not the Stonegate Pool. An official government ID wouldn’t hold up to the rigors of the Stonegate Pool ID test. I was a little disappointed they didn’t collect a hair sample for later DNA testing. Maybe next year?
They gave us time slots each week from around 6-8:00 to come get into the cattle line with our 7000+ neighbors and be prodded along until they had all the stars aligned and their computers were working perfectly. Oh and the line to get registered was wrapped around the building 5 of the 6 times we went up there to get our passes. Try that with a 2 year old when it’s bed time. This all to get our photos and check our documentation. “PAPERS PLEASE” reminds me of the old WWII movies.
In the name of all mankind we are going to protect this POOL from outsiders! Out you damn non-residents! OUT!
Wouldn’t it have been MUCH easier to walkover to the offender and ask “do you have a pool pass?” if they don’t have a pool pass tell them to leave. If that doesn’t work for the life guards then ask one of Moms sitting there and I guarantee you they will get them out. There are moms up there with 3-5 kids at a time. Those women are not afraid of anything. Worked well when I was a kid so I guess it would still work today. How hard is that?
Personally I believe the board should be punished for the ridiculous actions and overbearing requests. We all need to show up at the next HOA meeting and voice our opinions. If you want to attend here are the meeting times and locations.
Stonegate Village HOA MEETING TIME LOCATION:
- 3rd Wednesday of the month, 5:30 PM at the District Offices: 2 Inverness Drive East, Suite 200, Englewood, CO 80112.
- The annual budget meeting is held in either October or November at the Stonegate Village Clubhouse.
Come on Stonegate HOA board! You should know better than to do this!@ Shame on you!
Pradera Golf Club Real Estate Market Report
Jun 8th 10
Custom Home for Sale in Parker Colorado
Pradera Real Estate in (Parker Colorado) Real Estate Market Report
January 1, 2010 to June 1, 2010
This is the homes SOLD report for Pradera Golf Course Community. All homes sold and closed should be shown here except for possibly FSBO’s and may a builder sale.
See every home for sale in Pradera Here.
- Total homes sold in Pradera Golf Club = 10
- Highest Priced home sold = $1,095,000 ( Steve Beam sold this one!)
- Lowest priced home sold = $439,900
- Average NET Sales Price = $627,745 (sale price minus any sales concessions from the seller)
- Average Original Asking Price = $688,857
- Average Asking Price at time of offer = $658,842
- Average Days on Market = 129
- Average Price per SQFT = $161
- Average Price Per SQFT FINISHED AREA = $127
- Total Sale Volume = $6,277,453
Video helps Sell Million Dollar Home in Pradera
2009 Yearend Sales Report for Pradera Golf Club
Stonegate Neighborhood Homes Sold Report
Bradbury Ranch and Auburn Hills Homes Sold Report
Jun 3rd 10
This real estate market report for Bradbury Ranch is for January 1, 2010 to June 1, 2010. This repost shows all the homes sold and closed during that period.
Bradbury Ranch is another “favorite” Parker Colorado neighborhood. A few years ago Bradbury Ranch grew in size with the addition of Auburn Hills across Mainstreet. The new sections added several hundred homes to the neighborhood.
See all homes for sale in Bradbury Ranch HERE.
Being located in the heart of Parker Colorado at the intersection of Jordan Road and Mainstreet make this an obvious chioce for home buyers in the Parker CO area. The new Chambers Road extension also allows for super quick access to I-25. Bradbury Ranch has a beautiful pool area and extensive open spaces that home buyers also seek.
Top 10 List for Parker Colorado 2010. I’ve already blown a few!
- Total Homes Sold in Bradbury Ranch Jan 1 to Jun 1, 2010 = 22
- Average Original Listing Price $276,284
- Average List Price at time of sale $271,334
- Average Sold Price $256,382
- Average NET sold price (after seller concessions) $262.298
- Highest Sold price so far $372,000
- Lowest Sold Price so far $185,000
- Sold Homes Volume $5,838,407
- Average Price SOLD per SQFT $136
Stonegate Neighborhood Homes Sold Report
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