Book Review: ‘The Smartest Money Book You’ll Ever Read: Everything You Need to Know About Growing, Spending and Enjoying Your Money’ Author: Daniel R. Solin

Today’s post-recession, pro-consumer, anti-bank zeitgeist reflects a dramatic sea change in the world of personal finance advice. Gone are the days when the cable TV pundits whose eyes bulge as they holler hysterics about what, when and whether to buy, sell or hold are taken seriously as anything but entertainment.

All the rules of thumb (e.g., owning a home is good) have been revised and nuanced (e.g., owning a home is good if X, Y and Z, but renting makes more sense if A, B and C).

And there’s also been a sea change in how this advice is delivered. Instead of a once-weekly column in the local paper by a financial writer, these days there is a steady stream — flood, even — of advice-blog posts written by actual financial advisers and delivered in short, simple chunks right-sized for today’s shrunken attention spans.

Daniel R. Solin is one such expert/blogger, and uses the same pithy style, linking to complementary online resources as he does in his advice columns on HuffingtonPost.com and USNews.com in his new book, “The Smartest Money Book You’ll Ever Read: Everything You Need to Know About Growing, Spending and Enjoying Your Money.”

Here are four of Solin’s smartest financial do’s and don’ts:

1. Don’t try to play the market. Solin practically pleads with readers not to base their housing or stock market investment decisions on their guesses as to whether the market will rise or fall, and when.

On real estate, Solin says to get aggressive about building equity by making conservative mortgage decisions and extra payments, when possible, rather than trying to sell at the top of the market and buy at the bottom.

And when it comes to the stock market, Solin exhorts readers: “Don’t just do something — stand there!” Solin repeatedly cites historical evidence that simply getting and staying in the market yields better results in the long term than what he calls “hyperactive” investing.

2. Do consider other options to a reverse mortgage to access fast cash in retirement. “Smartest” offers loads of Solin’s advice for retirees whose portfolios, plans and bottom lines have been adversely affected by the recession.

Rather than seeing a costly, legacy-draining reverse mortgage as their first resort for access to large amounts of cash, Solin first cautions retirees to get serious about whether anything but health, food and shelter are truly needs vs. wants (note: helping your children is not a need, in his book) and lists a number of more attractive, but less commonly considered options for accessing cash, including a “regular” home refinance or loan against a 401(k) or cash value life insurance policy.

3. Don’t confuse salespeople for financial advisers. Calling the investment industry “friend and foe,” Solin points out the sobering truth that 95 percent of actively managed funds fail to equal or beat their market indexes, yet the fees for investing in actively managed funds tend to be several times more expensive than for index funds, eroding whatever returns investors in active funds do attain.

Solin urges readers to be aware of the difference between an investment broker, who he says is more accurately described as a salesperson; and a financial adviser, who can take a look at your life and your money and help you set goals, pick low-fee investments, rebalance your portfolio, manage your tax exposure and manage your emotions.

Solin recommends that readers put together a trusted team including an estate planning attorney, a certified public accountant (CPA), and fee-only (i.e., not commission-based) investment and insurance advisers.

4. Do shop around. Solin likens our monthly income and expenses to our body’s metabolism. In the same way we gain weight over the years by consuming calories on autopilot, we can lose cash by having our insurance, investment and other expenses auto-debited, making it highly unlikely that we’ll notice when fees and bills rise.

Solin advises checking in on these items at regular intervals, and shopping around to see whether we can find a better deal.

“Smartest” makes a great effort to be comprehensive in terms of covering every area of financial life, but it doesn’t actually go deep enough to be the only book you need. Rather, it is a great start at giving you the rationale for getting motivated to grow up and get serious about your finances, and provides you with a primer and a road map for the work ahead of you.

With 40-plus chapters averaging a couple of pages in length each, “Smartest” feels rather like a collection of Solin’s blog posts; this will leave some readers hungry for more depth and detail, but will certainly appeal to many others who cringe at the density of a more traditional personal finance title.

To its credit, “Smartest” also does a good job of pointing out where you can find tools to execute Solin’s recommendations or learn more about a given subject online, mostly on the wildly popular and free, do-it-yourself money management platform Mint.com.

Generally, “Smartest” is written in plain English — though its approach is a tad bit imbalanced, getting a little bit in the weeds and detailed in the sections of his particular expertise and borderline vague and oversimplified in others.

However, if you are looking to start your proactive financial planning up again, after the trauma of the recession, or if you are just taking control of your finances for the first time, “Smartest” is a smart choice for the starter book you need to put your own personal money train in motion.

Click Here for the Daily Real Estate News Article

By Tara-Nicholle Nelson
Inman News®

–

Claudia Williams
Owner/Ecobroker/Exchangor
Blue Ribbon Properties, 835 Main Ave #214, Durango, CO 81301

970 247 8388 (office), 970 749 3555 (cell), 970 247 8360 (fax), blueribbondurango.com

Connect with Claudia on facebook, buzztown, twitter, linked in and my blog articles

Be sure to LIKE Blue Ribbon Properties on Facebook!

Check out the New Market Snapshot to monitor the value of your home and get current local market conditions

I found this article in the Colorado Realtors Winter 2012 Newsletter and would like to share it with you.  Claudia Williams is Durango’s first Ecobroker, certified and trained to market and sell green properties, both energy efficient and properties built or retrofitted with green features.  This article was written by Taylor Watkins, a Certified Residential Appraiser and, among others, comments on the valuation of green elements in appraising homes.

This article will introduce some of the elements of green building and the ways in which they may relate to
appraisal practice. This is a very large field, so the list is not exhaustive, but it does provide a place to start
understanding green buildings. There has been a lot of talk recently about the popularity of residential, industrial, and commercial “green”, or environmentally responsible and resource-efficient, building structures. There have also been many published articles in which builders, brokers, and owners claim that appraisers undervalue green
properties. As appraisers know, we don’t create the market for specific property types; we analyze available,
appropriate market data to reflect the actions of the market. In the case of green buildings, however,
perhaps some green building advocates may not clearly understand the systematic appraisal valuation
procedure an appraiser follows to answer a client’s questions about real property value, and some appraisers
don’t clearly understand valuation issues involved with green buildings.
Green building is relatively new in many parts of the country, but it has been around for decades.
There are several different reasons for the recent interest in green building. Rising energy costs have made
green building more attractive, but as we will see, energy efficiency is only one aspect of green building.
Increased awareness of the principles of sustainability is another reason. Governmental support of green
building measures, from storm water management codes to energy efficient appliance incentives, has also
helped move green building into the mainstream.

What is Green Building?

One of the difficulties in understanding green building is the lack of a complete and accurate definition that
is commonly accepted among the varied professions and organizations that deal with green buildings. One
example of a green building definition comes from the US Environmental Protection Agency:
“Green building is the practice of creating structures and using processes that are environmentally
responsible and resource-efficient throughout a building’s life-cycle from siting to design, construction,
operation, maintenance, renovation and deconstruction. This practice expands and complements the
classical building design concerns of economy, utility, durability, and comfort. Green building is also known as
a sustainable or high performance building.”
Green building can generally be thought of as a building practice that that focuses on the
building structure’s resource efficiency (i.e., high performance) and the health of its occupants and the
environmental impact throughout the structure’s entire life cycle from its design through its occupancy and
eventual deconstruction.

Viewing a building through its entire life cycle is not a new idea, but it can lead to different choices in
the way it is constructed, and this is part of what distinguishes green buildings. These choices tend to gravitate
to the following basic elements of green building: site, water, energy, materials, and indoor air quality.
Although these elements are not exclusive to green building, the way in which green buildings address them
is different from conventional buildings. By understanding these elements and how they differentiate green
buildings, appraisers will attain the necessary competence in the valuation of green buildings and will also be
able to participate in the growing conversation surrounding them. Recall that USPAP requires competency
and being competent requires knowledge and experience to produce credible assignment results.

Site Element

Overriding site concerns are the preservation of open space and habitat protection when possible. In
addition, green site planning and development focuses on the site’s proximity to transportation and other
linkages, access to sun and/or shade as the climate dictates, and building placement on the site to take
advantage of solar, water, or wind-oriented resources.

Appraisal Practice: The traditional view of location applies here in terms of access to amenities, but
with additional emphasis on proximity to mass transportation, increased density, and open, or green spaces.
This is because proximity to mass transit improves air quality due to lower vehicle emissions, and lowers fuel
and energy consumption during occupancy of the building. Additionally, increased density can help protect
open space.

Water Element

Water is a resource that is actively managed and conserved in many green
buildings. Water that comes to the property from the local provider is conserved as
much as possible inside and outside the building. Storm water is all the water that falls
on the site as precipitation. In some cases, storm water is captured and retained
for reuse, either inside or outside the building. Drought tolerant landscaping is also
encouraged.
Appraisal Practice: In theory, water consumption and cost can be measured
and thus quantified in most cases. Especially in arid portions of the country or areas
with high sewage disposal costs, savings from reducing and reusing water in some
cases can lead to operational savings.

Energy Element

Energy comes to most buildings in the form of natural gas or electricity. While it is only one of the elements
of green building, it gets a lot of attention. This is because it is measurable, both in terms of consumption
and cost, and because there are many incentives available for energy efficient materials, systems, and
appliances. Unlike some of the other elements of green building, energy efficiency and related cost savings
are important to cost conscious buyers in some areas of the country.
Appraisal Practice: Like water, energy consumption is measurable, so if less energy is consumed by a
property, that savings may be a benefit that accrues to the property. It is also a benefit that will keep paying
forward throughout the life of that building or that particular energy efficient system or appliance.

Materials Element

Green building materials have entered the mainstream in many areas of the country over the past several
years. These materials again focus on resource efficiency in their composition, like being made of recycled
materials; in their production, such as being locally made or minimally processed; or in their use, meaning
that they can lead to less energy consumption while in place in a building.
Appraisal Practice: Some green materials may be more durable than their conventional counterparts,
leading to less maintenance over time. This can lead to lower operational costs and also perhaps to a longer
physical life. The proper material to use, green or not, depends on the application.

Indoor Air Quality Element

Indoor Air Quality (“IAQ”) has been getting a lot more attention lately, but it has always been an integral part
of green building. Particularly with commercial and governmental buildings, landlords, tenants, and owners
have become interested in the effects of good IAQ on workers. Studies are also looking into the effects on
student performance in school buildings with superior IAQ.
Appraisal Practice: If IAQ becomes measurable in some way, then its positive
effects on occupants may enter into the appraisal process using paired sales or
statistical analysis. Pending the availability of that type of measurable data, it
is still possible, indeed appropriate, to consider a qualitative technique known
as “relative comparison analysis” when using the sales comparison approach.

_____

For more information on building green and evaluating homes with green features please don’t hesitate to contact Claudia Williams, Blue Ribbon Properties, Durango Real Estate. 970.247.8388. claudia@blueribbondurango.com.

More online resoures:

Green Home Resources at greenhomesforsale.com

EPA Green Homes – http://www.epa.gov/greenhomes/

US Green Building Council – http://greenhomeguide.com/

Locally here in Durango you can join the “Green Business Round Table”  hosted once a month by the San Juan Citizens Alliance

For information on making you La Plata County Home more energy efficient contact Four Core – www.fourcore.org/

Here’s your Durango Real Estate Statistics and Weekly Update! Great deals, new listings, foreclosures and sold comparables.

What sold this past week?

15 properties sold in Durango, Colorado and area over the last week. Some really good deals – check it out.

Click Here for Sold Listings 

New Durango Real Estate Listings this week:

There are 13 new listings this week, click here for new listings.

Click Here for New Listings

Bankowned Listings (REO):

Due to continuing interest we are including REO property, which means “Real Estate Owned” in bank-lingo, in other words, bankowned properties, or foreclosed properties after the foreclosure process is completed. The bank/lender now owns the property. They are typically sold at a discount, hence the popularity! Please follow this link to our foreclosure page on our website. It shows all active bankowned and foreclosure listings in the area and is continually updated. Bookmark it and visit it often! Or email us, info@blueribbondurango.com to get set up for automatic email notifications on new bankowned listings!

Click here for Foreclosures & Bankowned Homes in the Durango & Surrounding Areas

 And Back by Popular demand – the Market Snapshot – Free and Instant Home Valuations! A cool map based comparable report that shows new listings and sales comparables to your house, for sellers or buyers.   Sign up by clicking here. Or go to Durangohousevalues.com. You’ll love it!

Be sure to LIKE Blue Ribbon Properties on Facebook!

Get the current market situation and find out what your home is worth. Sign up for the market snapshot here

Disclaimer – these links and information are based on the Durango local multi listing service. While all information is deemed accurate there are no guarantees. Does not include for sale by owners or foreclosure properties that are not listed on the MLS.

As we wrap up 2011, Trulia’s Chief Economist looks ahead at what’s in store for the battered housing market and which cities have a big reason to celebrate the New Year.

My crystal ball is never as crystal-clear as I’d like, but I do think that we can expect a gradual economic recovery to move the housing market a few steps back toward normal in 2012.

Before getting into the predictions, let me be upfront about what I’m assuming. After 14 months of job gains, I expect the economy to continue its slow but determined recovery. I don’t do my own macroeconomic forecasts, but every single one of the fifty-ish economic forecasters surveyed by the Wall Street Journal expects the economy to grow throughout 2012, and that makes sense to me.

Here’s what I expect in 2012 and what it means for agents:

Delinquencies will go down, but foreclosures will go up.

Fewer borrowers will fall behind on their payments next year, thanks to the strengthening economy and refinancings. The share of delinquent borrowers is already down more than a quarter from the peak a couple of years ago. But many borrowers who fell behind on their payments during the housing crisis are still in limbo: last year’s robo-signing controversy threw a wrench in the gears of the foreclosure process. That means that some delinquent loans haven’t yet gone through the foreclosure process. Once a settlement is reached with banks over robo-signing, we’ll see a new wave of foreclosures and foreclosure sales.

What it means for agents: Despite the decline in delinquencies, the wave of foreclosures will hurt. New foreclosures will depress prices for several reasons – foreclosed homes are often sold at a discount and used as comps for non-distressed homes; vacant homes bring down the value of their neighbors; and high foreclosures are the worst thing for consumer confidence in the housing market. That will hurt seller motivation even more than buyer motivation since lower prices will mean deals for some buyers. Agents should be gearing up with competitive pricing strategies to catch buyers and preparing to counsel their traditional seller-clients about the depressed prices to come in high-foreclosure areas.

Rents will rise – which is a bad thing.

With fewer people buying homes and more people losing their homes to foreclosures, rental demand is increasing. High rents will hold back economic growth if businesses can’t pay workers enough to have a roof over their heads. Squeezed city-dwellers won’t get relief until late 2012: that’s when a wave of new multi-unit construction projects that started late this year will be completed and available for rent. To tackle growth-killing high living costs in the priciest cities head on, local governments need to get rid of height restrictions and arduous permitting processes, which hold back urban construction and push development to the suburbs.

What it means for agents: Rising rents and falling prices make buying a great deal – but only for prospective buyers who can afford the downpayment and qualify for a mortgage. When counseling buyers, agents need to be aware of the struggle and sacrifice required to save for down payments in this climate. But the good news is that there will be clients motivated by available inventory and low prices – even though these clients may require more hand-holding around financing options.

Mortgage rates will inch up – which will probably be a good thing.

A stronger economy will push Treasury bonds and mortgage rates up because inflation becomes more likely and investors demand higher rates to hold bonds. But lots of factors can push rates up or down. For the housing market, which direction rates go is less important than why. Gradual economic recovery is good news for the housing market even if it means higher mortgage rates – because higher mortgage rates should go hand-in-hand with greater housing demand.

What it means for agents: Higher mortgage rates mean higher monthly payments for buyers, but a stronger economy means that buyers will be better able to afford those rates. Higher rates probably won’t hold back buyers much: rates are only one of many factors that enter into the cost of buying a home, and for many buyers the downpayment is a much bigger barrier to homeownership than the monthly payments. Also, buyers need to be reminded that homeownership has other costs on top of the monthly mortgage payment, like insurance and maintenance, which can add half again as much to the cost of owning a home. Agents should help buyers figure out the overall costs and benefits of homeownership, not just the monthly mortgage payment.

 Government will sit on its hands.

In election years, politicians don’t take risks: they’re more talk and less action, so don’t expect any bold housing policy reforms next year. What’s more, with the housing market now recovering, we’re not in enough of a crisis to force political opponents together. Instead, in 2012 we’ll see the effects of modest housing proposals from this year: easier refinancing under the expanded HARP program, and more government-owned homes coming to market for sale or rent. But the bitter debate in Washington over the budget deficit and debt will continue.

What it means for agents: No news may be good news: I don’t expect major changes in policy that will upend the housing market. But government is slowly scaling back support for housing, both to encourage the private sector to come back in and also to help deal with the federal budget deficit. Late this year we saw increased fees on Fannie and Freddie to help fund the payroll tax cut, lower conforming loan limits, and proposals to scale back mortgage interest deduction. Agents should explain to buyers what these changes means for their mortgage costs, both before and after taxes.

Smart cities are hot.

 In 2012, the local housing markets that will enjoy rising prices, new construction or both, are those that start the year with stronger job growth and fewer empty homes holding back the market. My top five cities to watch are Austin TX, Houston TX, San Jose CA, the Boston suburbs, and Rochester NY. Most of these cities have strong high-tech industries or high-skill workforces. During the housing boom, the go-go cities tended to be lower-skill, lower-education metros. But in 2012, smart is hot.

What it means for agents: All markets are local. Even though the housing bubble and bust affected nearly all markets, each local market is recovering – or not – at its own pace. National indicators are helpful in understanding where the market is going overall, but buyers and sellers need to understand what’s happening in your local market – which could be very different from the national picture

Click Here for the Link to the Trulia Article

Be sure to LIKE Blue Ribbon Properties on Facebook!

Get the current market situation and find out what your home is worth. Sign up for the market snapshot here

December 23rd, 2011 – Hope you have a Merry Christmas!

Here’s your Durango Real Estate Statistics and Weekly Update! Great deals, new listings, foreclosures and sold comparables.

What sold this past week?

17 properties sold in Durango, Colorado and area over the last week. Some really good deals – check it out.

Click Here for Sold Listings 

New Durango Real Estate Listings this week:

There are 26 new listings this week, click here for new listings.

Click Here for New Listings

Bankowned Listings (REO):

Due to continuing interest we are including REO property, which means “Real Estate Owned” in bank-lingo, in other words, bankowned properties, or foreclosed properties after the foreclosure process is completed. The bank/lender now owns the property. They are typically sold at a discount, hence the popularity! Please follow this link to our foreclosure page on our website. It shows all active bankowned and foreclosure listings in the area and is continually updated. Bookmark it and visit it often! Or email us, info@blueribbondurango.com to get set up for automatic email notifications on new bankowned listings!

Click here for Foreclosures & Bankowned Homes in the Durango & Surrounding Areas

 And Back by Popular demand – the Market Snapshot – Free and Instant Home Valuations! A cool map based comparable report that shows new listings and sales comparables to your house, for sellers or buyers.   Sign up by clicking here. Or go to Durangohousevalues.com. You’ll love it!

Be sure to LIKE Blue Ribbon Properties on Facebook!

Get the current market situation and find out what your home is worth. Sign up for the market snapshot here

Disclaimer – these links and information are based on the Durango local multi listing service. While all information is deemed accurate there are no guarantees. Does not include for sale by owners or foreclosure properties that are not listed on the MLS.

Before you slide into a holiday-induced brain freeze, there are a number of steps you can take before year end to save you money, courtesy of Uncle Sam. There are lots of other juicy tax benefits that are slated to disappear at the end of 2011, but read carefully, because some are subject to income testing. “A little planning can go a long way,” according to Michael Goodman, CPA/PFS, CFP and President of Wealthstream Advisors. He advises acceleration of deductions this tax year if you expect to be in a lower tax bracket next year.

7 deductions due to expire in 2011

1) Higher education expenses: Taxpayers with adjusted gross incomes (AGI’s) of up to $65,000 for singles and $130,000 for couples can claim $4,000 of deductions for college tuition and fees. (IRS Publication 970)

2) Mortgage insurance deduction: Borrowers with AGI’s up to $100,000 may be able to treat qualified mortgage insurance as home mortgage interest, which means that 100 percent of 2011 premiums may be deductible. The insurance contract had to be issued after 2006 and deductions are phased out in 10 percent increments for homeowners with AGI’s between $100,001 and $109,000. (IRS Publication 936)

3) State sales-tax deduction: If you itemize your taxes, you can choose to take an itemized deduction for state sales taxes instead of state and local income taxes. This is a no-brainer for residents of states without income taxes, such as Texas and Nevada. But it might also work for people in areas with low state-income taxes that made a large purchase during the year such as a car or an engagement ring. (IRS sales tax calculator)

4) Energy efficiency upgrades: Here’s where going green can save you green. If you make energy efficiency improvements to your home before the end of the year, you may be eligible for a tax credit of 10 percent for the cost, up to a maximum of $500. Approved improvements include new windows, insulation, high efficiency furnaces, water heaters and air conditioning, among many. Be sure to keep your receipts and manufacturer certification. (Energy Star items that qualify for the tax deduction)

5) IRA charitable donation: Donors over age 70 1/2 can contribute up to $100,000 of traditional IRA assets directly to one or more qualified charities (but not a donor-advised fund). While there’s no tax deduction, the gift is excluded from income, and can count as part or all of the required minimum distribution. The charity must be qualified as publicly supported (no private foundations or donor-advised funds), and the distribution must go directly from your IRA to the charity without going to you first. The timing of this could be perfect if you haven’t yet taken your required minimum distribution for 2011; if you don’t need the money; or if you don’t itemize. (IRS Publication 590)

6) Enhanced adoption credits: As part of the Patient Protection and Affordable Care Act (March 2010), the Adoption Tax Credit was extended one year until Dec. 31, 2011, the amount of credit was increased to $13,360 and it was made refundable, meaning that families can benefit even if they have less than $13,360 of federal income tax liability. If adoption expenses have been paid for by an employer, you may qualify to exclude up to $13,360 from income. The credit is subject to income phaseouts from $185,210 to $225,210 in AGI. (IRS Topic 607)

7) Classroom deduction for teachers: K-12 educators who work at least 900 hours during the school year can claim an above-the-line deduction of up to $250 ($500 if married filing joint and both spouses are educators, but not more than $250 each) of any unreimbursed expenses (books, supplies, computer equipment (including related software and services), other equipment, and supplementary materials) used in the classroom. (IRS Topic 458)

9 More year-end tax tips (with no expiration, except the calendar)

1) Mail your checks for deductible purchases: Procrastinator alert! If you’re the type of person who waits until the last minute for everything, take note: To qualify for write-offs of charitable contributions and business expenses, your payments must be postmarked by midnight Dec. 31. The IRS says just writing “December 31″ on the check does not automatically qualify you for a deduction; and pledges aren’t deductible until paid. Donations made with a credit card are deductible as of the date the account is charged.

2) Give appreciated stock or fund shares to charity: Get in the holiday spirit, with the help of Uncle Sam. One way to lower your tax bill in April is to donate appreciated securities, like stocks, bonds or mutual funds, to a charity. You’ll write off the current market value (not just what you paid for them) and escape taxes on the accumulated gains. Since charities don’t have to pay capital gains on the gift, they get the full value of your generosity. Goodman says “donor-advised funds are a great solution for quick year-end planning. If you know you want the deduction but can’t make the decision as to which charity you want to use, the DAF allows you to capture the deduction now and decide on the charity later.”

3) Take advantage of low capital gains rates: If you’re in the 10 or 15 percent bracket — taxable income below $67,900 for married couples and $33,950 for singles — profits on long-term capital gains (or ones owned more than 12 months) won’t be taxed at all in 2011 and 2012. That’s right: Your capital gains tax rate will be ZERO percent. It might make sense to sell taxable assets at gains in the next two years, because most experts believe that rates will rise in the future. That goes for high earners, because the current top rate is at a historic low of 15 percent. Given that a new 3.8 percent tax on net investment income is set to take effect in 2013 for joint filers with AGI’s of $250,000 or more (or $200,000 for single filers) it makes sense to consider locking in gains at this year’s lower rate. Goodman warns that “the portion of the capital gain that puts you over the taxable income threshold will be taxed at the higher cap gains rate.”

4) Sell losers: If you have investment losses in a taxable account, now is the time to use those losers to your advantage. You can sell losing positions to offset gains that you have taken previously in the year, to minimize your tax hit. If you have more losses than gains, you can deduct up to $3,000 of losses against ordinary income. If you have more than $3,000 of losses, you can carry over that amount to future years.

5) Avoid getting soaked by a wash sale: If you are starting to clean up your non-retirement accounts to take losses, don’t get soaked by the “Wash Sale” rule. The IRS won’t let you deduct a loss if you buy a “substantially identical” investment within 30 days, what’s known as a wash sale. To avoid the wash sale, wait 31 days and repurchase the stock or fund you sold, or replace the security with something that is close, but not the same as the one you sold…hopefully something cheaper, like an index fund. (IRS Publication 550)

6) Fully fund your college savings 529 plan: The average public university now charges over $8,200 for tuition and fees — a massive 8.3 percent increase from last year — so now’s the time to get a leg up on your education savings with a 529 plan. Money saved in these programs grows tax-free and withdrawals used to pay for college sidestep taxes, too. You can invest up to $13,000 in 2011 without incurring a federal gift tax and many states offer state tax deductions for the contributions. (529 Plan information)

7) Use your flex account or lose it: Some employers require employees with flexible spending accounts (pretax dollars that pay out-of-pocket medical and childcare expenses) to forfeit contributions that go unused by Dec. 31. If you have an FSA, check your company’s rules. If you have cash sitting in the account and your deadline is year-end, spend it to avoid leaving money on the table.

Retirement withdrawals: According to Fidelity Investments, two-thirds of all IRA holders haven’t yet taken their required payouts (required minimum distributions or MRD), which must be withdrawn by Dec. 31. There is one exception: Taxpayers taking their first required payout may do so by April 1, 2012. The penalty on not taking your required minimum distribution is steep — 50 percent on the shortfall. (IRS FAQs about MRDs)

9) Project your income: If you’re self-employed, estimate your income for 2011 and 2012. If your tax bracket could rise next year, delay making tax-deductible business purchases until January, when the write-offs will become more valuable. If you think you’ll bring in less money in 2012, do exactly the reverse.

Here is a link to the article, Click Here

Happy Holidays! Don’t forget, I am licensed in Colorado & New Mexico, and am eager to help you in Real Estate Sales & Property Management in LaPlata County & San Juan County!

Stacy E. Engle, (970) 759-6411 . (970) 247-8388 . (505) 334-8814 . stacytune@durangolive.net . BlueRibbonDurango.com

Don’t forget to like us on Facebook!

Season’s  Greetings

This year has brought expansion to Blue Ribbon Properties, we added three new agents welcoming Terry Sadler, Don Ferris and Bill Powell. We’ve expanded into property management in Bayfield, Durango and Farmington area in addition to our continuing premium real estate sales services in Colorado and New Mexico. Sales volume is up and that’s a tentatively strong signal for the upcoming year!

What a turbulent year 2011 has been, another year marked with dramatic changes and challenges. Several of you took advantage of the opportunities in this market, refinanced at historically low interest rates or bought real estate at reduced prices. Others are still waiting in the wings for the right deal to come along, or maybe you are getting frustrated trying to sell your property in a tough market.

Regardless of your position in the real estate market, we continue to see that your need for accurate and up to date information is greater than ever. We continue to pride ourselves on having established our blog as one of Durango’s best sources for real estate statistics! Every Friday we post an update of sales and new listings and we are proud to say that our number of subscribers is steadily increasing.

If you haven’t subscribed to our blog articles, we would like to encourage you to do so at BlueRibbonDurango.com or follow us on Facebook at fb.com/blueribbonproperties.

Overall, the recent activity, coupled with the pent up demand of potential home buyers who haven’t bought in the past few years, leads me to continue to forecast a healthy albeit slow market recovery.

Being the optimist that I am, I can’t help but point out the positive news and real estate market headlines over the past few weeks:

“The U.S. Economy – Finally, Some Positive News”, The Economist, Nov 26, 2011

“an improved outlook for at least the near future is now showing up all over the economic data.“

“Housing in 2012: Things are looking up”, Money Magazine, Dec 2011

“The outlook: Most of the country will see the housing market stabilize, just don’t bet on a big increase in prices.”

“Housing looking better …”, Durango Herald,  Nov 20, 2011

“We’ve recently had some OK local economic news. Real estate appears to be recovering. Builders are feeling confident enough to start spec homes for would-be buyers, and between September and October, foreclosures fell 15 percent. New home permits are trending upward nationally and in Colorado. The National Association of Home Builders reports new home sales rose 5.7 percent last month. Nationwide, home inventory has fallen to about six months, a far cry from the 12-month surplus in 2009. And some believe the pent-up demand of people waiting for a more robust economy, living with family and friends, is about to be unleashed..”

As another year comes to a close we are reminded of just how fortunate we are to have wonderful families and friends, steady business and last but not least we get to live in beautiful Durango and enjoy all the wonderful activities around us. We know that it is the people in our lives that bring real joy and happiness. Together we can overcome anything!

We sincerely value your business and are here to help you with all your real estate needs. If you know anyone who may be thinking about buying, selling or renting, or simply could use information on real estate please do refer them our way. We promise to take excellent care of you and them!

Have a Happy New Year! Here’s to an awesome 2012!

Claudia Williams and the Blue Ribbon Team

Be sure to LIKE Blue Ribbon Properties on Facebook!

Get the current market situation and find out what your home is worth. Sign up for the market snapshot here

What sold this past week?

20 properties sold in Durango, Colorado and area over the last week. That’s 7 more than last week! Some really good deals – check it out.

Click Here for Sold Listings

New Durango Real Estate Listings this week:

There are 22 new listings this week, click here for new listings.

Click Here for New Listings

Bankowned Listings (REO):

Due to continuing interest we are including REO property, which means “Real Estate Owned” in bank-lingo, in other words, bankowned properties, or foreclosed properties after the foreclosure process is completed. The bank/lender now owns the property. They are typically sold at a discount, hence the popularity! Please follow this link to our foreclosure page on our website. It shows all active bankowned and foreclosure listings in the area and is continually updated. Bookmark it and visit it often! Or email us, info@blueribbondurango.com to get set up for automatic email notifications on new bankowned listings!

Click here for Foreclosures & Bankowned Homes in the Durango & Surrounding Areas

And Back by Popular demand – the Market Snapshot – Free and Instant Home Valuations! A cool map based comparable report that shows new listings and sales comparables to your house, for sellers or buyers.   Sign up by clicking here. Or go to Durangohousevalues.com. You’ll love it!

Be sure to LIKE Blue Ribbon Properties on Facebook!

Get the current market situation and find out what your home is worth. Sign up for the market snapshot here

Disclaimer – these links and information are based on the Durango local multi listing service. While all information is deemed accurate there are no guarantees. Does not include for sale by owners or foreclosure properties that are not listed on the MLS.

Get This Week’s Local Market Conditions – Click here

Not ready to sign up – click here to see a sample of what the snapshot looks like.

And here a note from a happy snapshot user that signed up yesterday:

“Thank you for providing this Market Snapshot, it is much appreciated.  We might be ready to put our home on the market in the next year so it is nice to have this data to reference.  Your whole website is very valuable to us.  You provide a great service to the public.  Should we decide to sell, you can expect a call from us.”

So what are you waiting for? No pressure here but hey – just sign up and try it out. It’s free and it’s super useful.

Claudia Williams, Durango Realtor Extraordinaire
Making People Happy – One Home at a Time
Blue Ribbon Properties
Office: 970-247-8388
Cell: 970-749-3555
claudia@blueribbondurango.com

National Websites:

1. www.realtor.com – this is the first Nationwide Multilist real estate website. It has a wealth of information for home buyers

2. www.zillow.com – Zillow is a very cool map based website, featuring all homes, not just the ones for sale but sold comparables. it is home of the infamous “zestimate” – a free estimation of the value of your home. Unfortunately, in our small rural area it’s not necessarily accurate. I recommend calling your favorite realtor for an accurate estimate!

3. www.trulia.com – Trulia offers loads of information as well, including market trends.

Local Websites:

4. www.blueribbondurango.com – search the local MLS and follow the blog for weekly real estate statistics for the Durango Area (shameless self promotion!)

5. http://arcims.laplata.co.us/laplataWEBSITE/ – local GIS mapping website – look up all properties, see what’s next door, you can even get well and flood zone info

6. http://eagleweb.laplata.co.us/assessor/taxweb/ – La Plata County assessors website – look up individual houses and see their tax assessments and other valuable information – such as when the current owner bought the house and how much they paid for it (not always available).

Of course – if you hire a great real estate agent to represent you (at no extra cost to you, mind you), your agent will do all this research and work for you and get you the best deal possible out there. What are you waiting for!