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Gerald Lucas

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Biggest Real Estate Myth You Should Reject, Avoid IRS Problems Regarding Your Real Estate Taxes Paid, 4 Quarter Property Sales Plummet

February 7, 2023 Gerald Lucas

Biggest Real Estate Myth You Should Reject

Real Estate Tip:

If your mortgage lender pays your real estate taxes from an escrow account, make sure the real estate taxes you claim on your return matches the number on Form 1098 your mortgage lender sends you-Form 1098 will report any real estate taxes you paid.

Real Estate Insight:

Fourth-quarter property sales were the worst slowdown since the great recession.

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Tags Gerald Lucas, real estate tips, real estate strategies, Warren Buffett
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How The Auction Effect Hurts Property Investors, Home Renovation ROI Reality, Wells Fargo Pays For Harm Done To Customers

January 31, 2023 Gerald Lucas

How The Auction Effect Hurts Property Investors

Real Estate Tip:

Think twice before sinking a lot of money into a home renovation like granite counter tops, pricey fixtures and fancy alarm systems--on average, capital improvements add only 50% of their cost to a home's value!

Real Estate Insight:

Wells Fargo will pay $3.7 Billion to resolve allegations it harmed more than 16 million people with deposit accounts, auto loans and home mortgages.

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Tags Gerald Lucas, real estate tips, real estate strategies, real estate auctions, auction effect, investors, property, bid, MAO, maximum allowable offer, market value
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How Higher Energy Costs Will Affect Housing Demand, Oil Tank Due Diligence When You Buy Property, US Homes Sales Move Again

January 24, 2023 Gerald Lucas

How Higher Energy Costs Will Affect Housing Demand

Real Estate Tip:

When you pay for an oil tank scan on a property you are going to buy, have the company you hire determine whether the tank is actively in use. If the tank has been taken out of service, you should request all documents relating to the tank closure including town permits and contractor reports. These documents will prove the tank was closed properly according to regulatory guidelines.

Real Estate Insight:

US existing home sales fell again in December, concluding the weakest year for home sale activity since 2014.

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Tags Gerald Lucas, real estate tips, real estate strategies, energy prices, housing demand, Ukraine War, supply and demand
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