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Judi Monday, Your Green Valley AZ Expert

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Judi's January / February Newsletter

by Judi Monday, Your Green Valley AZ Expert
Courtesy of 
Judi Monday 
Owner / Associate Broker 
520-241-7780 (Mobile) 

                   

Renovate or Move? How to Decide
As a homeowner, there may come a time when you ask yourself: "Should I buy a new home, or stay put and renovate my old one?" 

Consider these factors when weighing your decision:
  • Mortgage rates. Would your mortgage rate increase if you were to buy a new home?
  • Renovation scope. How much would you need to do to your home to achieve the look you're hoping for? How much would it cost?
  • Local market. What do housing prices look like?
  • Long-term goals. Are you in a location you're happy with for the long-term?
Not sure if now is the right time to buy in your area? Contact me for help.
High-ROI Renovation Projects
Want to make sure the time and money you spend remodeling is worth it? Then choose your projects carefully. 

According to Remodeling Magazine, here are the highest-ROI home renovation projects you can opt for:
  • A new garage door (98.3% costs recouped, $3,411 in resale value)
  • Adding a steel entryway door (91.3% costs recouped, $1,344 in resale value)
  • A wood deck addition (82.8% costs recouped, $9,065 in resale value)
  • Minor kitchen remodel (81.1% costs recouped, $17,193 in resale value)
  • Siding replacement (76.7% costs recouped, $11,554 in resale value)
Check out Remodeling's full Cost vs Value report for more guidance.
$25,000 Price Reduction!
1380 W Placita De La Cotonia, Green Valley, AZ 85622
$500,000
3 Bedrooms  |  3 Bathrooms  |  3,182 Square Feet  |  Listing ID 21900295 
Outstanding curb appeal will pull you in, the mountain views must be seen to be fully appreciated and the lovely home will seal the deal. Don't get so lost in the panoramic mountain view from the courtyard that you miss the stunning stone exterior on your way inside. You will find many recent updates including: new energy efficient windows; plantation shutters w/transferable warranty; 16 x 16 flat Saltillo floors; solar hot water heater and freshly painted interior & exterior. It is definitely an architectural delight with angles & unique ceilings throughout including a vaulted one in the huge living room. There is also a striking beehive fireplace in this space, which is perfect for taking the chill off those rare chilly evenings. 

Learn More
What Makes a Great Home Offer?
We're about to head into the busiest home-buying season of the year. Want to make sure your offers stand out in a bidding war? 

A great offer includes:
  • The right price. Don't just go by listing price. Factor in comparable sales, the home's condition and local demand.
  • A personal appeal. Include an offer letter, telling the sellers exactly why you want the property.
  • Pre-approval. This shows you've talked to a lender and are serious about buying the home.
  • Good earnest money. This gives the seller an incentive to choose your offer over another.
An experienced agent is your best resource when making an offer. Reach out if buying a home is on your radar.
Judi Monday 
BR624821000 

RE/MAX Valley Properties 
210 W Continental Road, Suite 220, Green Valley, AZ 85622
Each Office Independently Owned and Operated. 
©2019 Imprev, Inc. Pub 1/19

6 Habits To Reduce Clutter At Home This Year

by Judi Monday, Your Green Valley AZ Expert

See The House Where Martin Luther King Jr.'s Pivotal Story Began

by Judi Monday, Your Green Valley AZ Expert

Martin Luther King Day

by Judi Monday, Your Green Valley AZ Expert

Few things in life have touched me as deeply as Martin Luther Kings' "I Have A Dream".

And so even though we face the difficulties of today and tomorrow, I still have a dream. It is a dream deeply rooted in the American dream.

I have a dream that one day this nation will rise up and live out the true meaning of its creed: "We hold these truths to be self-evident, that all men are created equal."

I have a dream that one day on the red hills of Georgia, the sons of former slaves and the sons of former slave owners will be able to sit down together at the table of brotherhood.

I have a dream that one day even the state of Mississippi, a state sweltering with the heat of injustice, sweltering with the heat of oppression, will be transformed into an oasis of freedom and justice.

I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin but by the content of their character.

I have a dream today! I have a dream that one day, down in Alabama, with its vicious racists, with its governor having his lips dripping with the words of "interposition" and "nullification" -- one day right there in Alabama little black boys and black girls will be able to join hands with little white boys and white girls as sisters and brothers.

I have a dream today! I have a dream that one day every valley shall be exalted, and every hill and mountain shall be made low, the rough places will be made plain, and the crooked places will be made straight; "and the glory of the Lord shall be revealed and all flesh shall see it together."

This is our hope, and this is the faith that I go back to the South with. With this faith, we will be able to hew out of the mountain of despair a stone of hope. With this faith, we will be able to transform the jangling discords of our nation into a beautiful symphony of brotherhood. With this faith, we will be able to work together, to pray together, to struggle together, to go to jail together, to stand up for freedom together, knowing that we will be free one day.

Is Your Bedroom Designed For A Good Night's Sleep

by Judi Monday, Your Green Valley AZ Expert

White Cabinets And An Open Layout

by Judi Monday, Your Green Valley AZ Expert

How To Talk About Your Style With Home Pros

by Judi Monday, Your Green Valley AZ Expert

12 Ways To Set-Up Your Kitchen For Healthy Eating

by Judi Monday, Your Green Valley AZ Expert

10 Things To Consider Before Remodeling Your Bathroom

by Judi Monday, Your Green Valley AZ Expert

Standard Or Itemized Deductions

by Judi Monday, Your Green Valley AZ Expert

 

Standard or Itemized Deductions

The Tax Cuts and Jobs Act of 2017 increased the standard deduction to $24,000 for married couples.  There will be some instances that homeowners may be better off taking the standard deduction than itemizing their deductions.  In the past, homeowners would most likely be better off itemizing but the $10,000 limit of state and local taxes (SALT) adds one more issue to consider.

Let's look at a hypothetical homeowner to see how a strategy that has been around for years could benefit them now even though they haven't used it in the past.  The strategy is called bunching; by timing the payments in a tax year so that they can be combined to make a larger deduction.

Let's say that the married couple filing jointly has a $285,000 mortgage at 5% for 30 years that has about $14,000 in interest being paid.  The property taxes are $6,000 and they have $4,000 a year in charitable contributions for a total of $24,000 of allowable itemized deductions on Schedule A.

Standard Itemized.jpg

Since that deduction amount is the same as the Standard Deduction, there is no monetary advantage one way or the other.  However, if the taxpayers were to pay their interest because they must make timely house payments but only pay $2,000 of the 2018 property taxes in December of 2018 and the balance of the $4,000 in January, they transfer part of the deduction into 2019.

Additionally, if they make their intended charitable contribution for 2018 in January of 2019, it makes that deductible on the 2019 return.

Since the total deductible amounts paid out in 2018 was $16,000, the taxpayers would have an $8,000 benefit that year from taking the Standard Deduction.  

Assuming they made the same $4,000 charitable contribution in 2019 during the year and paid the house payment and property taxes on time, their total deductions for 2019 would be $32,000 which is $8,000 more than the Standard Deduction.

In this example, the taxpayers in 2018 and 2019, would benefit a total of $16,000 in tax deductions by bunching and electing to take the standard deduction one year and itemizing the next.  

This is only an example but if your situation is similar, it might benefit you to consider an alternative when to take the standard deduction and when to itemize.  This is a conversation you need to have with your tax professional to see if it would work for you.

Displaying blog entries 1-10 of 799

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Judi Monday
RE/MAX Valley Properties In Green Valley, AZ
210 West Continental Road
Green Valley AZ 85622
Direct: (520) 241-7780
Fax: (520) 648-2221