HDTenEightyP/NetNews huggingface dataset:
From: mark@st.unocal.com (Mark E. Towfiq)
Subject: House for sale
Reply-To: mark@st.unocal.com
Organization: Unocal Science & Technology Division, Ca.
Distribution: usa
Date: Fri, 4 Sep 1992 04:46:26 GMT


House For Sale
2015-1 Shannon Ct.
Diamond Bar, Ca. 91765
----------------------

     - 2155 Sq. Ft. Townhouse in South Diamond Bar, Ca.
     
     - 3 bedrooms plus huge bonus room with wet bar, 2-1/2 baths,
       living room with woodburning fireplace, dining room,
       family room, interior laundry room, 2-car attached garage.


Features
--------

     - Central vacuum system

     - Central air conditioning
  
     - Pre-wired for security system

     - Automatic garage door opener with two remotes

     - Deluxe self-cleaing gas range with built in microwave oven

     - Ceramic tiles in entry, kitchen, family room, and laundry room

     - Upgraded Dupont Stainmaster carpet

     - Deluxe wood blinds on all windows
 

Asking Price: $215,000
    
If you are interested, Please EMAIL me or call me at the following numbers:

    Home: (714)701-9226
    Work: (714)693-6740

-- 
Mark E. Towfiq                           Unocal Corporate Information Services
Phone: (714)693-6740                     5460 E. La Palma Ave.
Internet: mark@st.unocal.COM             Anaheim Hills, Ca 92807
Newsgroups: misc.invest.real-estate
From: hartley@deadcat (Allen Hartley)
Subject: HOME FOR SALE
Keywords: COLORADO HOME FOR SALE RELOCATION 
Organization: U S WEST Information Technologies
Distribution: usa
Date: Tue, 1 Sep 1992 16:20:48 GMT

NEW ON THE MARKET!!  Due to a relocation to another state I am selling
my home in Castle Rock.  Castle Rock is just 20 min from the Denver
Tech. Center, 45 min. from downtown Denver and the airport, and 45 min.
from Colorado Springs.  A 10 min. walk or 5 min. bike ride from my home
will get you to the new elementry school, soccer fields, a park, the
pool and tennis courts and a 2 mile trail system that runs through
Mitchell Creek Canyon.  The Canyon is backed by Castlewood Canyon State
Park and is a designated green belt.  A 10 min. drive will get you to
the new Factory Outlet Mall, 3 other pools, a new multi-million dollar
rec. center (and it isn't overcrowded), shopping, a new library, batting
cages, baseball fields, soccer fields, more parks, the Jr. and Sr. High
Schools, more new elementry schools, I 25, and a multitude of places to eat.

Castle Rock is a very nice area to raise a family. We have enjoyed the
opportunities the area has to offer.  We are located in a new area
called Founder's Village.  Founder's Village and Castle Rock are a very
family oriented area.  If I had to pick an area to live in the Denver
area, this would be one of my selections (we moved here a little over
three years ago).  The homes in the area have had a steady appreciation
(about 15%) over the past three years and is a nice alternative to
Highlands Ranch if you can't afford the house prices there but want a
comparable or the same house (many of the builders are in Castle Rock
too at $10k - 30k cheaper).  This is a nice area to get away from the
rush of everyday life, but allows you to be close to the things you need.

THE HOME
--------
	2 Story a little over 3 yrs. old with a non-qual, FHA assumption
	Located in a cul-de-sac off the main road (great for kids)
	4 bedrooms 2 1/2 baths
	1300 sq. ft. finished
	700 sq. ft. unfinished basement with rough in plumbing
	2 car garage with automatic opener
	Oak hardwood floors in the kitchen, dining room and entry
	Vaulted ceilings and fireplace with gas logs in the living room
	Large SOUTH facing windows in the living room
	New paint and wallpaper throughout
	1 1/2 year old exterior paint and roof
	Fully landscaped front and rear with automatic sprinklers
	Fully fenced 2500 sq.  ft. back yard 
	New 315 sq. ft. multilevel redwood deck with outdoor lighting
	Bi-level back yard with two waterfalls and outdoor lighting
	384 sq. ft. graveled play area for the kids
	Sidewalks and city water and sewer

	It's a steal for $112,900


	For more information on how to purchase this home please call
	my broker, Whitman Parker at (303) 771-3311 or (303) 688-8080.
	I would be happy to answer any other questions about the home or
	the area call me at (303) 660-9870 evenings (Whitman can too, he
	also lives in Founder's).

Xref: sparky misc.invest.real-estate:556 misc.taxes:3063
From: carl@Cayman.COM (Carl Heinzl)
Newsgroups: misc.invest.real-estate,misc.taxes
Subject: Re: Tax deduction for unmarried co-buyers?
Date: 25 Aug 92 20:20:48 GMT
Followup-To: misc.invest.real-estate
Distribution: usa
Organization: Cayman Systems Inc., Cambridge, MA
In-reply-to: rlt@cbnewsl.cb.att.com's message of 25 Aug 92 12:02:27 GMT
bcc: carl


>house payments, utilities, etc.  I think the arrangement is "joint
>tenancy with right of survivorship";  does that sound right?

Yes, that essentially deeds the house to the beneficiary on the
passing of one of the parties.  Be aware however that the survivor
will be responsible for inheritance tax since they aren't married and
therefore do not qualify for the unlimited transfer of assest to
spouses.

-Carl-
--
Newsgroups: misc.invest.real-estate
From: escue@snoopy2.rtsg.mot.com (Marilyn R. Escue)
Subject: Re: HOUSE FOR SALE TO INVESTOR - BLOOMINGDALE, IL
Keywords: house investor
Organization: Motorola Inc., Cellular Infrastructure Group
Distribution: misc
Date: Wed, 26 Aug 1992 18:16:29 GMT

pkrause@triton.unm.edu (Paul Krause CIRT) writes:

>In article <1992Aug25.180522.1959@rtsg.mot.com> escue@snoopy2.rtsg.mot.com (Marilyn R. Escue) writes:
>>House for sale to investor only in Bloomingdale, IL.  Current owners want
>>to sell and rent same house back while building a new house for one to two
>>years.  (Too many of our friends building houses had their backs against
>>

>So how does the investor make money on this deal?

>Paul

Three ways:
- rental income
- deductions from taxes
- and whatever capital appreciation that occurs during the holding period

For the first 12 months, we would be willing to pay above market rental
rates.

Marilyn


Newsgroups: misc.invest.real-estate
From: djc@phebos.aps.anl.gov (Dan Ciarlette, Diagnostics)
Subject: Tax benefits for first time home owners
Keywords: tax first time
Reply-To: djc@phebos.aps.anl.gov
Organization: Argonne National Lab -- APS
Date: Wed, 26 Aug 1992 16:20:46 GMT

Are there any tax benefits for first time home owners?  I seem to remember hearing
that there was something going through Congress about a 10% up to $2500 tax credit
for first time homebuyers for part of this year?  Could someone elaborate if they
know anything.  Also, what constitutes the "purchase" of a home.  Is it the date
of the first contract you sign, the date of mortgage approval, the date of closing?
Doesn't local taxes consider you owner only after closing?....

First time home buyers (like me) would love know this information.

Thanks,

Dan.
From: bd670@cleveland.Freenet.Edu (Russell I. Dyreng)
Newsgroups: misc.invest.real-estate
Subject: Re: refinancing rates
Date: 2 Sep 1992 21:55:10 GMT
Organization: Case Western Reserve University, Cleveland, Ohio (USA)
NNTP-Posting-Host: slc5.ins.cwru.edu


pjh@mccc.edu (P. J. Holsberg) writes:
>The original mortgage was for $60,000 at 10.25% taken out in 
>May, 1990.  The mortgage company that originated our loan is 
>advertising 15 year, 7.125%, 3 points refinancing with a $345 
>application fee.
>
>Would someone please do the calculations and let me know their 
>opinion of wether or not I should refinance at this time? And 
>do post your numbers, OK?
>
>I can do a simple mortgage calculation, but what I'm looking 
>for is a discussion of the issues I'm not really aware of. For 
>example, if closing costs $4000, what affect does taking that 
>money out of a current investment have on the cost of 
>refinancing? I'm sure that there are other questions I might 
>ask.
>
>What I'm looking for is for one of you experts to clue me in on 
>what to consider when making this decision, and point out what 
>calculations need to be made. I had simply assumed that it 
>would be easier for one of you to just make the calculations 
>that to go through a detailed explanation/analysis.
>
>Thanks,
>Pete

Here's the deal.  Based on some assumptions that I made here is
what I figure.  Assuming that you (or your friend) made the 
minimum payment each month, on a 30 year loan, the present 
balance would now stand at approximately $59,200.

Refinancing this amount at .7.125% for 15 years gives a payment
of (as I'm sure you know) $536.  The way that I would evaluate 
this situation is to look at the effective interest rate that 
you will be paying, taking into account closing costs.

You say that closing costs will run you about $4000.  So you 
subtract this amount from the loan amount, leaving, from the 
example, $55,200.  Take this amount as the present value, use 
the payment figured previously, $536 per month, all of this for 
15 years.  Enter these numbers into your financial calculator 
(or crank it out by hand) and solve for the interest rate.  I 
come up with 8.273% as the new effective interest rate.

I don't really know what types of investments you were talking
about, so I can't make any comment.  But I believe that this 
information should be of use to you in arriving at your decision.

Russ
bd670@cleveland.freenet.edu
From: slansky_d@macmail1.rtsg.mot.com
Subject: Re: Is there going to be a home purchase tax credit or what!!!!!
Organization: CSG Group
Distribution: usa
Date: Thu, 3 Sep 1992 13:37:14 GMT


>
>> I am going to buy a house from someone I know - I have been
>>debating when to buy the house since this $5,000 tax credit
>>was announced in Feb 92. Now its September and time is running
>>out, I still have to apply for the mortgage, The way I see it
>>I have one of two choices:

CAUTION:  The Bush proposal was for a tax credit ONLY for the sales of new
homes.  Sales of existing homes would not be credited.  The economic proposal
failed to pass congress and....

>I doubt such legislation can pass before the election in November.
>The Democrats have Bush on the run and they won't give him
>anything that may help him win in Nov.  Besides, many of them
>are out campaigning and don't have time to worry about their
>jobs.
>

I agree.

Doug.

Newsgroups: misc.invest.real-estate
From: bd670@cleveland.Freenet.Edu (Russell I. Dyreng)
Subject: Re: Closing cost tax deductibility.
Organization: Case Western Reserve University, Cleveland, Ohio, (USA)
Date: Thu, 27 Aug 92 22:01:55 GMT


>>The 1% origination fee is deductable over the life of the loan.
>>This means if your origination fee was $1000 and a 30 year 
>>loan, you can deduct $33.33 per year for 30 years.  I don't 
>>know what happens if you sell before the end of the loan, you 
>>can probably deduct the balance at that point.
>>
>>I don't think any of the other costs are deductable.  You might
>>be able to add some to the basis for the house, but check a tax
>>guide or tax advisor.  These costs may be added to the basis of
>>a new purchase
>>  ^^^^^^^^^^^^
>Absolutely true for new purchase.
>
>>but I don't know what applies to a refinance.
>                                    ^^^^^^^^^

>Once again, NOTHING is deductible when refinancing your 
>non-income producing residence.

The only deductible financing or refinancing expense allowed as
a deduction for your personal residence is interest.  Interest
comes in two forms, 1.  the interest that you pay with your
monthly payment and 2.  points.  The origination fee that you 
pay is not interest.  It is not a deductible expense for your 
personal residence.  If you pay the points up front on the 
original loan they are fully deductible in that tax year.  If
you are refinancing or choosing to pay the points by rolling
them into your loan balance then the deduction must be taken 
over the life of the loan.

As you can see there are as many opinions of how this works as
there are people who care to respond.  It might not be a bad 
idea to call either your tax preparer or the IRS for the 
straight poop.

Russ
bd670@cleveland.freenet.edu
Newsgroups: misc.invest.real-estate
From: bobk@sequent.com (Bob Krull)
Subject: Re: Closing cost tax deductibility.
Organization: Sequent Computer Systems Inc.
Distribution: na
Date: Thu, 27 Aug 92 14:45:34 GMT

In article <1992Aug26.220818.5201@intellistor.com> wicklund@intellistor.com (Tom Wicklund) writes:
>In <1992Aug25.111311.3627@arizona.edu> smith@navajo.rc.arizona.edu (dennis smith) writes:
>
>>Recently I refinnace my mortgage and it cost me around $2200. I did not
>>pay any points (except for %1 origination fee, which is very common here
>>in Arizona). My question is this,
>>which expenses are tax deductable for 1992 and years after, if any ?
>>(origination fee, appraisal fee, title insurance and guarantee, title
>>search, termit inspection and termit treatment, etc.). I actualy had to
>>treat my home since there was some sign of termit infestation. By the
>>way I included most of the costs in the new mortgage. Does it make any
>>difference. Thanks a lot.
>
>The 1% origination fee is deductable over the life of the loan.  This
>means if your origination fee was $1000 and a 30 year loan, you can
>deduct $33.33 per year for 30 years.  I don't know what happens if you
>sell before the end of the loan, you can probably deduct the balance
>at that point.
>
>I don't think any of the other costs are deductable.  You might be
>able to add some to the basis for the house, but check a tax guide or
>tax advisor.  These costs may be added to the basis of a new purchase
                                                          ^^^^^^^^^^^^
Absolutely true for new purchase.

>but I don't know what applies to a refinance.
                                    ^^^^^^^^^

Once again, NOTHING is deductible when refinancing your non-income
producing residence.

Newsgroups: misc.invest.real-estate
From: ferguson@tc.fluke.COM (Ed Ferguson)
Subject: Rental Property Depreciation
Organization: John Fluke Mfg. Co., Inc., Everett, WA
Date: Mon, 31 Aug 1992 17:22:17 GMT

As long as depreciation is being discussed here, I
have a question: If you intend to rent your existing
home and purchase another to live in, what amount
is used for depreciation?  Is it the appraised value 
of the structure when it becomes a rental, or is it your
original purchase price (minus land value)?

Before you advise to see a tax expert, I am simply
designing a spreadsheet to see if becoming a land-
lord is worth it before I seek further professional
advice.

Ed Ferguson

Newsgroups: misc.invest.real-estate
From: trn@warper.jhuapl.edu (Tony Nardo)
Subject: Re: 15 year vs. 30 year loans
Organization: Johns Hopkins University
Distribution: usa
Date: 28 Aug 92 11:13:22 GMT

dbinford@convex.com (David Binford) writes:

|In article <1992Aug26.155651.27836@cbfsb.cb.att.com> eroth@cbnewsf.cb.att.com (elizabeth.s.roth) writes:
|>In article <dbinford.714405881@neptune> dbinford@convex.com (David Binford) writes:
|>>> + 84,014.48 savings ($432.81 x 12 x 15 at 15%)
|>>invest (432.81*12) at 15% compounded annually for 15 years = 215,116.61

|>Run that by me again.  $120.06 a month for 30 years can become
|>$720,297.88.  Granted I used simple interest instead of compounding,
|>but I don't get your figures.  Want to break it down?
|>

|Sure, here are the numbers, I wrote this program to spit out each years
|current balance.  It does not compare exactly with what I had posted but
|I didn't spend the time to find where the anomoly is.  The basic principle
|is there.  Here are the results:


|Monthly payment......... $1440.72
|Number of Months.........30		
|Monthly Int. Rate........15.00%

|Year            Payment number of months into plan
|I_pmt           Interest payment on current principle
|P_pmt           Incremental payment into the plan
|Principle       Current principle = Previous_principle + I_pmt + P_pmt

|Year       I_pmt       P_pmt        Principle
|  0        $   0.00    $1440.72    $  1440.72
|  1        $ 216.11    $1440.72    $  3097.55
[...]
|  30       $93951.90    $1440.72    $721738.65

Am I missing something, or is this a *31* year schedule?  Years 0, 1, 2, ... 30
taken together add up to 31 years of payments.

Boosting the savings by an extra $1440.72 up front is definitely cheating. :-)
--
Tony Nardo,		   INET: trn@warper.jhuapl.edu, trn@aplcomm.jhuapl.edu
 Johns Hopkins Univ./APL   UUCP: {backbone!}mimsy!aplcomm!trn
Newsgroups: misc.invest.real-estate
From: pjh@mccc.edu (P. J. Holsberg)
Subject: Re: refinancing rates
Organization: The College on the Other Side of U. S. 1
Date: Sun, 30 Aug 1992 14:38:41 GMT
X-Newsreader: Tin 1.1 PL5

Martin Tanner (tanm@seneca.bst.rochester.edu) wrote:
: Hi,
: 
: Someone in our department is planning to refinance.  They are
: interested in thoughts on various plans, as well as information
: on rates.

In line with that, I have a question of the advisability of refinancing
in my current situation:

The original mortgage was for $60,000 at 10.25% taken out in May, 1990.
The mortgage company that originated our loan is advertising 15 year,
7.125%, 3 points refinancing with a $345 application fee.

Would someone please do the calculations and let me know their opinion
of wether or not I should refinance at this time? And do post your
numbers, OK?

Thanks,
Pete
From: mmpjh@angelo.amd.com (Javed Hussain)
Newsgroups: misc.invest.real-estate
Subject: RTC's Address
Date: 1 Sep 92 17:47:24 GMT
Distribution: ca
Organization: Advanced Micro Devices, Santa Clara, CA

Hello!	
I would like to know the phone number and address of Resolution Trust Corp.
(RTC) which is handling the auction of failed S&L properties. Please email
me.

Thanks,

Javed   mmpjh@amd.com
From: bruceh@sgi.com (Bruce R. Holloway)
Newsgroups: misc.invest.real-estate
Subject: Re: 15 year vs. 30 year loans
Date: 27 Aug 92 02:15:35 GMT
Distribution: usa
Organization: Silicon Graphics, Inc.

In article <1992Aug26.155651.27836@cbfsb.cb.att.com> eroth@cbnewsf.cb.att.com (elizabeth.s.roth) writes:
>
>Run that by me again.  $120.06 a month for 30 years can become
>$720,297.88.  Granted I used simple interest instead of compounding,
>but I don't get your figures.  Want to break it down?

In general, the future value of an income stream invested at a constant
rate of interest is

	    m          n
	q = - * [ (1+r)  - 1 ]
	    r
where
	m = the regular payment,
	r = the rate of interest (per payment period),
	n = the number of payments.

For m = $120.06, r = .15/12, and n = 30*12, q = $831208.95.

The present value of such an income stream (the principal of a mortgage) is

	    m              -n
	p = - * [ 1 - (1+r)  ],
	    r
                        n
so the ratio q/p = (1+r) , which might be surprisingly large.

Regards, bruceh
Newsgroups: misc.invest.real-estate
From: bd670@cleveland.Freenet.Edu (Russell I. Dyreng)
Subject: Re: Closing cost tax deductibility.
Organization: Case Western Reserve University, Cleveland, Ohio, (USA)
Date: Wed, 26 Aug 92 03:55:45 GMT


>In article <1992Aug25.111311.3627@arizona.edu> smith@navajo.rc.
>arizona.edu (dennis smith) writes:
>>Recently I refinnace my mortgage and it cost me around $2200. 
>>I did not pay any points (except for %1 origination fee, which
>>is very common here in Arizona). My question is this,
>>which expenses are tax deductable for 1992 and years after, if
>>any ?(origination fee, appraisal fee, title insurance and 
>>guarantee, title search, termit inspection and termit 
>>treatment, etc.). I actualy had to treat my home since there 
>>was some sign of termit infestation. By the way I included 
>>most of the costs in the new mortgage. Does it make any
>>difference. Thanks a lot.
>>
>>Dennis.


>Simple.  NONE of the costs associated with a refinance are 
>deductible on your federal income tax.  As always, free advice 
>is worth the price.
>Consult your accountant.
>
>Bob Krull                                        

This is correct if the property is your own personal residence.
If it is an income-producing property then these become 
deductible business expenses.

Russ
bd6470@cleveland.freenet.edu
From: asylvain@felix.filenet.com (The Chipmunk)
Newsgroups: misc.invest.real-estate
Subject: Re: 15 year vs. 30 year loans
Date: 1 Sep 92 17:33:16 GMT
            <75970004@hpcc01.corp.hp.com>
            <HINKMOND.92Aug18143800@igor.tamri.com>
            <19667@fritz.filenet.com>
            <1992Aug25.210102.27118@sco.COM>
Reply-To: asylvain@fritz.filenet.com (The Chipmunk)
Organization: Foundation for the Increased Wealth of Chipmunks

Written in article <1992Aug25.210102.27118@sco.COM>
 by rogerv@sco.COM (Roger Vortman):

: [I unfortunately wrote:]
:
:> Somewhere between 5 and 10 years, you reach the halfway point, 1/2
:> interest, and 1/2 principle.  It's not linear, so it's not at 15.
:
:> By the time you get to around 20, 25 years into the loan, the interest
:> deduction is so small it's almost not worth keeping track of for tax
:> purposes.
:
: If you are talking about a 30-year loan (at least that is the only
: one that it makes sense to talk about 20-25 years into the loan), then
: the half-way point is at 23 years, which makes it untrue that at 20-25
: years into the loan the interest deduction is not worth keeping track
: of...unless $600/month interest on a $1200/month payment ($7200 per
: year) is below your tax accounting threshold.  It certainly isn't below
: mine

I fear my memory of the graphs I plotted some time ago must have gotten
corrupted with age.  You are absolutely right.  The half-way point
between interest and principle does occur well past where I thought it
did.  This is well past the "5-10" years I've been saying.

Roger, I must thank you for correcting me in a very non-Usenet manner.
Ie, non-inflammatory.

   (I am SO embarrassed!)

-- 
The Chipmunk.
Opinions are mine, void where prohibited, taxed, licensed or regulated.
Common sense is the collection of prejudices acquired by age eighteen.
    -- Albert Einstein
Xref: sparky misc.invest.real-estate:602 misc.taxes:3075
From: asylvain@felix.filenet.com (The Chipmunk)
Newsgroups: misc.invest.real-estate
Subject: Re: Real Estate News Summary, Part 114
Date: 28 Aug 92 22:44:38 GMT
Reply-To: asylvain@fritz.filenet.com (The Chipmunk)
Distribution: usa
Organization: Foundation for the Increased Wealth of Chipmunks

Written in article <1992Aug26.203939.20926@adobe.com>
 by hamachi@adobe.com (Gordon Hamachi):

: Real Estate News Summary, Part 114, July 1992
:
: 888. Baby Boomers whose consumerism powered the economy of the '70s and '80s
:    are saving for their retirements and are no longer buying the houses, cars
:    and appliances that supported hundreds of thousands of small businesses.
:    Without a boost from small business, the economy may be doomed to steady
:    but slow growth for 20 years.  [Chicago Tribune]

I wonder if they've considered the "baby boomlet."  Ie, the children of
the baby boomers.  Someone born at the beginning of the baby boom, say
around 1945, should have kids old enough to buy their first or second
house by now.

The "baby boomlet" should be just beginning to pick up steam.  It will
necessarily be longer and lower amplitude than the baby boom, but I
believe it will be noticeable.

-- 
The Chipmunk.
Opinions are mine, void where prohibited, taxed, licensed or regulated.
For every action there is an equal and opposite government program.
Newsgroups: misc.invest.real-estate