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“The State of Real Estate”

Categories: Uncategorized | Posted: July 15, 2011

In a recent issue of Columbia Business Monthly, Wade McGuinn commented on recent activity in today’s real estate market trends.

Wade McGuinns Video Blog ” Agents Web Presence”

Categories: Uncategorized | Posted: July 12, 2011

Wade McGuinn video blog about real estate agents managing their presence on the web. How are Columbia S.C. agents marketing themselves on the world wide web, do you have a website? Do you manage your website? Are you active on social media?

Wade McGuinn Blog “Know Who Your Team Is”

Categories: Uncategorized | Posted: July 7, 2011

Wade McGuinn goes over knowing who your team is in your business. Who helps you everyday with helping you complete the task that make you more successful. Lawyers, Inspectors, Admins, etc. Know Your Team…………….

McGuinn Homes Video Blog Know your Product

Categories: Uncategorized | Posted: June 10, 2011

Wade McGuinn covers the importance of knowing the product you are selling against

McGuinn Homes Video Blog 3

Categories: Uncategorized | Posted: May 24, 2011

Wade McGuinn and Fred Reichardt from Russell and Jeffcoat Real Estate have some tips for the agents in Columbia S.C.

Wade McGuinn’s Video Blog

Categories: Uncategorized | Posted: May 19, 2011

Wade McGuinn’s Video Blog

The second week of Wades video blog is out and Wade is covering great advice for other sales professionals out there. Keep a great attitude, the market is what you make it, where do you stand with the market share homes are selling how many of them will you sell this month?

Wade McGuinn’s Blog of the Week

Categories: Uncategorized | Posted: May 9, 2011

Wade McGuinn

McGuinn Homes is pleased to announce a new addition to our weekly blog Wade McGuinn will be doing a series of video chats about Columbia S.C. real estate market trends and ideas to help your business. Along with Wade we will be going on remote to speak with local area real estate experts and interviewing them on what is going on in the wonderful world of real estate in Columbia S.C. So be on the lookout for more video blogs coming to you weekly.

In Time for Buying Season, Rates Reach Yearly Lows

Categories: Uncategorized | Posted: May 6, 2011

Daily Real Estate News  | May 6, 2011  | Share

In Time for Buying Season, Rates Reach Yearly Lows
The 30-year fixed-rate mortgage, a popular choice among buyers, sank even lower this week, matching its yearly low of 4.71 percent from January, reports Freddie Mac in its weekly mortgage market survey. Last year at this time, the 30-year fixed-rate mortgage averaged 5 percent.

Meanwhile, the 15-year fixed-rate hit a new yearly low of 3.89 percent this week. Last week, the 15-year fixed-rate mortgage averaged 3.97 percent. The 15-year rate averaged 4.36 percent last year at this time. It reached its lowest level on record in November when it averaged 3.57 percent.

The one-year adjustable-rate mortgage averaged 3.14 percent, down from last week’s 3.15 percent. Last year at this time, it averaged 4.07 percent.

“Weaker economic data reports reduced Treasury bond yields and allowed mortgage rates to drift lower for the third consecutive week,” says Frank Nothaft, Freddie Mac’s chief economist.

Source: “30-Year Fixed-Rate Mortgage Matches Yearly Low of 4.71 Percent,” Freddie Mac (May 5, 2011)

Almost 14,000 Homes Sold Yesterday

Categories: Uncategorized | Posted: May 4, 2011

One of the biggest misconceptions in today’s housing market is that homes are
not selling. That is simply not true. Last month’s Existing Sales Report from the
National Association of Realtors (NAR) showed that homes were selling at
an “annual rate of 5.10 million”. That’s an average of 13,973 every day – 365
days a year!

And the monthly Pending Sales Report, which measures the number of houses
going into contract each month, has showed increases in six of the last nine
months prompting Lawrence Yun, NAR’s chief economist to say:

“Since reaching a cyclical bottom last June, pending home sales have posted an
overall gain of 24 percent and demonstrate the market is recovering on its own.
The index means modest near-term gains in existing-home sales are likely.”

We realize that 40% of the sales are distressed properties and that 22% of
buyers are investors. Yet, that still doesn’t negate the fact that homes are in fact
selling… and 60% of them are NOT foreclosures or short sales.

And Yun believes this up-tick will continue:

“Based on the current uptrend with very favorable affordability conditions, rising
apartment rents and ongoing job creation, existing-home sales should rise
around 5 to 10 percent this year.”

Bottom Line

Homes are selling. You probably will need to offer a compelling price if you put
your house on the market. But if you do, it will sell.

Re-printed with permission from Keeping Current Matters, 3 May 2011

Homeownership Tax Advantages

Categories: Uncategorized | Posted: April 25, 2011

Original Article from NHBA

Buying a home is one of the smartest purchases you can ever make. One reason is that homeownership has many positive tax implications. The three most important sources of tax savings for home owners are the:

  • deductions for mortgage interest
  • deductions for real estate taxes
  • capital gain exclusion for the sale of a principal residence

The deductions for mortgage interest and real estate taxes reduce the annual cost of homeownership by reducing the home owner’s tax liability each year.  For example, a home owner with $10,000 in annual mortgage interest payments and real estate taxes and who falls in the 25 percent tax bracket could realize up to $2,500 in tax savings each year.  Home owners who itemize their taxes can deduct from taxable income interest allocable to a first or second home for up to $1 million of mortgage debt and $100,000 of home equity loans.  And most state and local taxes paid on homes are also deductible.

When the home is sold, the capital gain exclusion can again provide home owners a tax benefit.  Under present law, sellers of a principal residence can exclude from taxation profits from the sale of a home, up to $500,000 for married taxpayers and $250,000 for single taxpayers.  With capital gain tax rates expected to increase from 15 to 20 percent in coming years, these tax savings can be substantial.

Research by NAHB economists has estimated the tax savings for home owners for certain income and mortgage amounts. For a married couple with an income of $80,000 per year and an initial mortgage amount of $250,000, the tax savings from the mortgage interest and real estate tax deductions are estimated to save the couple more than $11,000 in the first five years of homeownership.  Assuming the couple owns the home for twelve years, these savings grow to more than $25,000 over the time period. Combined with the capital gains exclusion, the total tax savings for the entire period of ownership exceeds $52,000.

For a couple with an income of $60,000 and an initial mortgage of $180,000, the five years tax savings total more than $6,000 and the total savings over a twelve year period are estimated to be more than $33,000