The economy is starting to show some life in a number of sectors but, unfortunately for many, the housing market is not one of them. The good news for the crafty estate planner is that the poor housing market coupled with the tax laws that went into effect with last December’s compromise offer a rather unique opportunity, one that may very well rate amongst the smartest estate planning moves one will ever make, according to Forbes columnist Rob Clarfeld. Now might be time to give away the house. The poor housing market remains perhaps the largest unhealed wound of the…
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If you were counting on tapping the equity in your home to help finance your retirement, you may have reason to worry. A recent issue of SmartMoney points out, “With home prices falling for nearly five years, many American must consider what to do with their homes should prices continue to collapse and the equity in their homes, if they are still lucky enough to have any, disappears completely.” If you are a Baby Boomer with an eye toward retirement, your plans may be taking quite a beating right now. Warnings about shortfalls in social security and Medicare, rising health…
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According to a recent issue of Smart Money, “The National Association of Realtor’s Housing Affordability Index, which looks at home prices and interest rates to determine how cost-friendly homes are, shows that 2010 was the best year on record to buy a home since the NAR began compiling data in 1970. And 2011 is projected to be the third most affordable year. In many retirement hotspots, this is particularly true.” It’s not the best time for everyone, since would-be buyers are also would-be sellers, but if you’ve got no mortgage or only a small one on your primary home and…
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