March Homes Guide by Granbury Realtors

COMPLIMENTARY

A Publication of the Granbury Association of REALTORS MARCH 2013

GranburyRealtors.com

R E A L Pam Knieper owner/broKer

E S T AT E

. . . and THE Authority on Real Estate.

www.LakeGranburyRealEstate.com

Offered at $229,000

Move-in ready, family-sized home, dark granite & custom cabinets, boat slip at marina.

Offered at $245,000

Waterfront condo! Lovely 3/2 well decorated, offered fully furnished, amazing views!

Offered at $229,000

Great waterfront getaway! Enjoy the big back deck & tons of space, excellent boat dock.

Offered at $169,000

Quality NEW Construction, pick your floors & colors, cottage style home in quiet area.

ÂŠ 2011 KNIEPER REALTY, INC.

The Waterfront Experts

Offered at $119,000

Adorable country home, 4+ acres, rustic entrance, beautiful mature trees, deck & paito.

Offered at $259,000

Nice views, well maintained, new roof 3 yrs ago, terrific deck, green house+boat house.

Offered at $169,000

Very quiet location, newer home, high ceilings, open concept, beautiful sunroom.

Offered at $330,000

817.219.0456

Offered at $239,000

Bentwater beauty! Open floor plan, split bedrooms, maplewood floors, spacious kitchen.

Offered at $324,499

Luxurious condo in golf community, on the golf course, open & spacious floor plan.

Offered at $185,000

Country setting, 7+acres in Tolar, rustic & tasteful, vaulted ceilings, spacious floor plan.

Nicely remodeled, gated community, energy efficient, spacious fenced yard & more.

Offered at $2,195,000

Offered at $279,000 Delightful lakehouse, boat dock on DEEP water, move-in ready, open & airy concept, furnished.

300 acre ranch, premier location, rolling terrain, lake views, hacienda style home.

Offered at $119,000

Beautiful decks, canal home, large open kitchen, boat dock, 2 storage buildings & more.

Offered at $918,000

Spectacular custom estate, mainbody, expansive outdoor living, pool, rock patio + dock.

LINDA BLANKENSHIP

Steve Cook 32 Years Experience Multi Million Dollar Producer

Broker Associate

Cell: 817-929-3905

26 Years Experience Multi Million Dollar Producer

RE/MAX Lake Granbury

817-579-1504

4810 Hwy. 377 E. Granbury, Texas 76049

REALTOR® Associate

Cell: 817-219-5774

Each Office is Independently Owned and Operated

252-BEAUTIFUL HOME IN GATED SUBDIVISION. Like new! Open concept living with WBFP, 2 dining areas, split bedrooms, spacious master with wonderful master bath. Large study, arched doorways, granite counters, stainless appliances. Golf cart garage, landscaped lawn, covered porches. $244,900 MLS# 11868991

218-ELEGANT NEW CONSTRUCTION!!! All the bells & whistles! 3/2½/3, granite counters, stainless appliances, wood/tile floors, formal dining. Crown molding. Many custom features in exclusive gated, golf, security, clubhouse community! $230,000 MLS# 11891516

279-JUST BLOCKS FROM HISTORIC SQUARE! 3bd/1ba home on corner lot. Living area with built-ins. Open concept kitchen/dining. Lots of storage. Fenced back yard. Storage building. Great home for great price! $75,000 MLS# 11896380

277-NEW LISTING, PECAN PLANTATION! Custom home, built 2006, over 2800 sq.ft. 2 spacious living areas, 3 bedrooms, study, 3 & half baths. New wood floors, stone fireplace, fantastic kitchen with granite. Large well landscaped yard, pecan trees, incredible outdoor kitchen and entertaining area. $339,500 MLS# 11825895 410-WATERS EDGE! Lake living at its finest, this spacious 3/2½/2 brick home is ready to enjoy. Large open living area, formal dining, great floor plan, large master suite. Excellent water frontage, oversized dock with lift, great views. $339,900 MLS# 11871851

616-GREAT WATERFRONT! GREAT PRICE! Large 3bd/2½ bath with 2 living areas on TWO waterfront lots. Updated manufactured home. Tree shaded, decks, patio, retaining wall, storage/shop. HAVE FUN! $99,900 MLS# 11580108

419-WATERFRONT! Recently updated home in Waters Edge. Wood floors, granite kitchen tops, new paint. Great floorplan, 2 living areas, beautiful master suite, sun room, great view of lake. Boat dock, well landscaped lawn. $299,500 MLS# 11829067

807-MOUNTAIN LAKES! Peaceful setting on 2 acres, nice trees, large deck, above ground pool & workshop. Spacious 3/2/2, large open living room, 2nd living area could be formal dining. Great kitchen with granite, screened in porch. Access to private lakes, pool, club house. $214,900 MLS# 11794234 829-RANCH STYLE STONE HOME on 2+ acres. Great floor plan. 3bd/3ba, large living area, rock FP, fantastic kitchen with granite, 2nd living area (or formal dining or study). Easy access to Fort Worth, nice trees, seasonal creek. $229,900 MLS# 11749576

404-SPECTACULAR MAINBODY WATERFRONT IN UPSCALE COMMUNITY! Open concept 3-2½-4 with 2 living areas, study, gourmet kitchen, granite counters, island. Ceilings to floor windows! Huge level lot, RV/boat parking, boat dock. UNBELIEVABLY BEAUTIFUL!! $597,500 MLS# 11810798

227-MAJESTIC NEW CONSTRUCTION! Unbelievable detail 3/2/3! Fantastic open concept floor plan. Gourmet kitchen with huge bar/island, built-in desk, walk-in pantry. More! Adjoining orchard in exclusive gated golf community! $230,000 MLS# 11891570 263-GREAT 4 BEDROOM, 2 BATH BRICK HOME. Custom features, granite counters, custom cabinets, large utility w/ sink, tall ceilings, jetted tub in master, covered patio, fenced yard, rock retaining wall in back yard. Great location! $172,000 MLS# 11896845

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WWW.GRANBURYREALTORS.COM

ASSOCIATION EXECUTIVE :

Don’t-Miss Home Tax Breaks Page 6

How To Deduct Your Mortgage Interest & Equity Loan Costs Page 12

9 Easy Mistakes Home Owners Make On Their Taxes Page 16

Why Choosing A Realtor® Is A Better Choice For You S R E A LTOR Page 24 EXA S

ADVERTISING & STORY SUBMISSION Emily Burks AE@GRANBURYREALTORS.COM

MEMBERSHIP SUPPORT :

Pat Angeley SUPPORT@GRANBURYREALTORS.COM

The Homes Guide is published by GAR, 2504 James RD, Granbury, Texas 76049 * (817) 3262530. All information in this publication is believed to be accurate, but is not guaranteed. All information should be independently verified by the customer. GAR assumes no liability for any advertisement in this magazine. GAR reserves the right to refuse advertising space to anyone for any reason. Any reproduction, in whole or in part, or any commercial attempt to cover or alter the appearance of this publication without the written permission of GAR is expressly forbidden. All rights reserved.

All real estate advertised in this publication is subject to the Federal Fair Housing Act, which makes it illegal to advertise “any preference, limitation, or discrimination based on race, color, religion, sex, familial status, handicap, or national origin, or an intention to make any such preference, limitation, or discrimination”. This publication will not knowingly accept any listing or advertising for rental or sell of real estate which is in violation of the law. Our readers are hereby informed that all dwellings advertised in this publication are available on an equal opportunity basis.

CELEBRATE CENTURY OF

CODE EST. 1913

BOARD OF DIRECTORS: PRESIDENT : PRESIDENT ELECT : PAST PRESIDENT : SECRETARY : TREASURER : DIRECTOR : DIRECTOR : DIRECTOR : DIRECTOR : DIRECTOR : TAR DIRECTOR :

Kimberly Shook Jerry Williamson Kay Bailey Donyce Parish Becky Wheatley Jane Mouhot Laura Life Tammy Dill Joy Paris Lynn Dirks Vickie Davies

2013 COMMITTEE CHAIRS

BYLAWS : Pamela Z. Miller FINANCE : Becky Wheatley GOVERNMENTAL AFFAIRS : Pat Correll MEMBERSHIP : Kyrstin Zimmerman MULTIPLE LISTING SERVICE : Herschel Crawford PROFESSIONAL DEVELOPMENT : Felicia Peters PROFESSIONAL STANDARDS : Debbie Van Dyke PUBLIC RELATIONS : Gary Wheatley TREPAC : Susan Browning STRATEGIC PLANNING: Jerry Williamson

2504 James Road, Granbury, TX 76049 · PHONE: 817-326-2530 · FACSIMILE: 817-326-2545 · WWW.GRANBURYREALTORS.COM

Rest assured, REALTORS® will always protect home ownership. Your home is your castle, and sometimes you need help defending it. For over one hundred years, the National Association of REALTORS® has stood up for homeowners and protected home ownership. Because home ownership matters–to our families, our communities and our country.

Don’T-miss home tax breaks By: Dona DeZube Published: January 10, 2013 From the mortgage interest deduction to energy tax credits, here are the tax tips you need to get a jump on your returns. • Mortgage interest deduction • Private mortgage insurance deduction • Prepaid interest deduction • Energy tax credits • Vacation or second home tax deductions • Home buyer tax credit repayment • Property tax deduction Mortgage interest deduction One of the neatest deductions itemizing home owners can take advantage of is the mortgage interest deduction, which you claim on Schedule A. To get the mortgage interest deduction, your mortgage must be secured by your home — and your home can even be a house trailer or boat, as long as you can sleep in it, cook in it, and it has a toilet. Interest you pay on a mortgage of up to $1 million — or $500,000 if you’re married filing separately — is deductible when you use the loan to buy, build, or improve your home. If you take on another mortgage (including a second mortgage, home equity loan, or home equity line of credit) to improve your home or to buy or build a second home, that counts towards the $1 million limit. If you use loans secured by your home for other things — like sending your kid to college — you can still deduct the interest on loans up $100,000 ($50,000 for married filing separately) because your home secures the loan. PMI and FHA mortgage insurance premiums Helpfully, the government extended the mortgage insurance premium deduction through 2013. You can deduct the cost of private mortgage insurance as mortgage interest on Schedule A — meaning you must itemize your return. The change only applies to loans taken out in 2007 or later. What’s PMI? If you have a mortgage but didn’t put down a

fairly good-sized down payment (usually 20%), the lender requires the mortgage be insured. The premium on that insurance can be deducted, so long as your income is less than $100,000 (or $50,000 for married filing separately). If your adjusted gross income is more than $100,000, your deduction is reduced by 10% for each $1,000 ($500 in the case of a married individual filing a separate return) that your adjusted gross income exceeds $100,000 ($50,000 in the case of a married individual filing a separate return). So, if you make $110,000 or more, you lose 100% of this deduction (10% x 10 = 100%). Besides private mortgage insurance, there’s government insurance from FHA, VA, and the Rural Housing Service. Some of those premiums are paid at closing and deducting them is complicated. A tax adviser or tax software program can help you calculate this deduction. Also, the rules vary between the agencies. Prepaid interest deduction Prepaid interest (or points) you paid when you took out your mortgage is 100% deductible in the year you paid them along with other mortgage interest. If you refinance your mortgage and use that money for home improvements, any points you pay are also deductible in the same year. But if you refinance to get a better rate and term or to use the money for something other than home improvements, such as college tuition, you’ll need to deduct the points over the term of the loan. Say you refi for a 10-year term and pay $3,000 in points. You can deduct $300 per year for 10 years. So what happens if you refi again down the road? Example: Three years after your first refi, you refinance again. Using the $3,000 in points scenario above, you’ll have deducted $900 ($300 x 3 years) so far. That leaves $2,400, which you can deduct in full the year you complete your second refi. If you paid points for the new loan, the process starts again; you can deduct the points over the term of the loan. Home mortgage interest and points are reported on IRS Form 1098. You enter the combined amount on line 10 of Schedule A. If your 1098 form doesn’t indicate the points you paid, you

should be able to confirm the amount by consulting your HUD1 settement sheet. Then you record that amount on line 12 of Schedule A. Energy tax credits The energy tax credit of up to a lifetime $500 had expired in 2011. But the Feds extended it for 2012 and 2013. If you upgraded one of the following systems this year, it’s an opportunity for a dollar-for-dollar reduction in your tax liability: If you get the $500 credit, you pay $500 less in taxes. • • • • • • •

Biomass stoves Heating, ventilation, air conditioning Insulation Roofs (metal and asphalt) Water heaters (non-solar) Windows, doors, and skylights Storm windows and doors

Varying maximums Some of the eligible products and systems are capped even lower than $500. New windows are capped at $200 — and not per window, but overall. Read about the fine print in order to claim your energy tax credit. Determine if the system is eligible. Go to Energy Star’s website for detailed descriptions of what’s covered. And talk to your vendor. The product or system must have been installed, not just contracted for, in the tax year you’ll be claiming it. Save system receipts and manufacturer certifications. You’ll need them if the IRS asks for proof. File IRS Form 5695 with the rest of your tax forms. Vacation home tax deductions The rules on tax deductions for vacation homes are complicated. Do yourself a favor and keep good records about how and when you use your vacation home. If you’re the only one using your vacation home (you don’t rent it out for more than 14 days a year), you can deduct mortgage interest and real estate taxes on Schedule A. Rent your vacation home out for more than 14 days and use it yourself fewer than 15 days (or 10% of total rental days, whichever is greater), and it’s treated like a rental property. Those expenses get deducted using Schedule E. Rent your home for part of the year and use it yourself for more than 14 days and you have to keep track of income, ex-

penses, and divide them proportionate to how often you used and how often you rented the house. Home buyer tax credit There were federal first-time home buyer tax credits in 2008, 2009, and 2010. If you claimed the home buyer tax credit for a purchase made after April 8, 2008, and before Jan. 1, 2009, you must repay 1/15th of the credit over 15 years, with no interest. If you used the tax credit in 2009 or 2010 and then sold your house or stopped using it as your primary residence, within 36 months of the purchase date, you also have to pay back the credit. Example: If you bought a home in 2010 and sold in 2012, you pay it back with your 2012 taxes. That repayment rules are less rigorous for uniformed service members, Foreign Service workers, and intelligence community workers who get sent on extended duty at least 50 miles from their principal residence. Members of the armed forces who served overseas got an extra year to use the first-time home buyer tax credit. If you were abroad for at least 90 days between Jan. 1, 2009, and April 30, 2010, and you bought your home by April 30, 2011, and closed the deal by June 30, 2011, you can claim your firsttime home buyer tax credit. The IRS has a tool you can use to help figure out what you owe. Property tax deduction You can deduct on Schedule A the real estate property taxes you pay. If you have a mortgage with an escrow account, the amount of real estate property taxes you paid shows up on your annual escrow statement. If you bought a house in 2012, check your HUD-1 Settlement statement to see if you paid any property taxes when you closed the purchase of your house. Those taxes are deductible on Schedule A, too. This article provides general information about tax laws and consequences, but shouldn’t be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice; tax laws may vary by jurisdiction. Visit houselogic.com for more articles like this. Reprinted from HouseLogic with permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2012. All rights reserved.

Granbury Association of REALTORS page 7

UNITED REALTY PROFESSIONALS

Felicia Peters,

ABR, CRS, GRI, SRES Broker Associate va do r o

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felicia@feliciapeters.com www.feliciapeters.com Unbelievably beautiful custom home in DeCordova Bend Est. with upscale fixtures, appliances crown molding and design features you’ve dreamed about. Attention to detail is evident everywhere. $272,000

817-578-0555

Country home on 3.9 ac on the Brazos River. Lovely rooms 3 levels - tornado room in basement, media room with giant projection screen, office or craft room upstairs bonus room. $269,000

5120 FAIRWAY CIRCLE MAJOR PRICE DROP on this ROCK Home on Corner Lot canopied with Giant Trees*3/2/2 with WBFP*Huge Wraparound DECK*New PAINT, FAUCETS & FIXTURES *MOTIVATED SELLERS*PRICE DROPPED to $122,995

5124 LaVista Waterfront TOWNHOUSE in DeCordova *Mainbody Views*Three Masters*HARDWOOD* Tiled COUNTERS & Floors in Kitchen w/Stainless Steel Appliances including the FRIDGE*2466 sqft*DBL Car GARAGE & detached CART garage @ $285K

Delightful brick home in Knob Hill with unrestricted view of Comanche Peak. Immaculate and charming home with 3 bedrooms and 2 baths. The kitchen has oodles of cabinet space, even a folding counter in the utility. $149,000

Quaint 1948 house on large city lot. On busy corner of Houston and Arnold St. just north of the Granbury Square, would make a great place for a business! $55,000

DeLightful, DeLovely, Divine!! Golf course home, one owner, split bedrooms, superb view, two patios. GREAT Oak Trees front and back, circle drive. Oversized garage. Stainless appliances convey. Shutters, Crown Molding. $219,900

Two wonderful three bedroom, two bath homes for rent one in Misty Meadow - one in Heritage Heights Pet restrictions available in January $1,100/ mo each Call today!

5008 BUENO BRICK & STONE Newbie in DeCordova Bend*AUSTIN STONE FP & BREAKFAST BAR*Custom UPGRADED 3/2/3 & MAKE READY BONUS ROOM UP STAIRS * Storage for DAYS*12”CROWN* MOTIVATED @ $229,000

IT’S A GREAT TIME TO BUY..... Lowest Interest Rates in Decades Kay Bailey, GRI 817-776-1668

UNITED REALTY PROFESSIONALS

www.DeCordovaBend.com for ALL the listings in DeCordova

100% Financing Available for Qualifying BUYERS. SHORT SALES & FORECLOSURE Resources Certified

PAT Swisher REALTOR速

CALL ANYTIME

817-219-1969

pat.s@coldwellbanker.com

REALTOR Associate

www.granburycoldwellbanker.com

READY TO MOVE YO U R W E L C O M E M AT - C A L L PAT RI VE RF RO NT

#77183 Shade & Privacy Provided By The Many Trees to Enjoy the Enormous Deck Overlooking the Brazos River. One Owner Custom Home 2922 sq.ft., built by Brian Gaffin. Beautiful Woodwork Throughout. Huge Kitchen has an Abundance of Cabinets & Counterspace. 4 Bedrooms, 3 Full Baths. Sunroom with heat and A/C. $279,000

#1163 Stone home with metal roof on 2 large lots. 2095 sq.ft has 4 bedrooms & 2 full baths. Carports for 4. Extra lot has RV cover for 2, storage building, + water well for lawn & garden. *All offers considered. List Price $89,900

GREAT STARTER HOME under $100,000. Ft. Worth side of Granbury. Brick, over 2500 sq.ft., with 3 bedrooms, 2 baths, 2 living areas, + study. Big back deck and large yard. New Carpet. HOA has lake access, pool, and playground.

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#74093 Pecan Tree Shaded 1.639 ac. corner lot. One Owner Custom 2971 sq.ft. Formal Home. Open Living & Dining with Fireplace. Large Den/Study. Big master suite + 2 guest bedrooms. 2 Utility areas. Covered Patio, Beautiful Landscaping. Circle Drive at front. 2-Car Garage + Storage/ Golf Cart Bldg. $379,000

#70303 5 ACRES - Convenient location on Ft. Worth side of Granbury. Level acreage to build. No Mobiles. MINIRANCH Community of High Chaparral. Only $49,900

SALLY MOORE

817-578-0660

Cell: (817) 219-0896 salsells@windstream.net

Rdavis042@windstream.net

(817) 579-1504

RE/MAX Lake Granbury BROKER/ASSOCIATE

SALSELLSGRANBURYREALESTATE.COM 4810 E. Hwy. 377, Granbury, Texas 76049 Each Office is Independently Owned and Operated

221-LARGE FAMILY HOME - 3/2/2 with split bedrooms, study, formal and breakfast dining rooms, WBFP & separate sunroom. Kitchen has plenty of cabinets. Huge laundry room. Large fenced backyard with sprinkler system & covered patio. $121,500 MLS# 11869506

249-ON 17TH FAIRWAY. FANTASTIC VIEWS! 5BR/3 BA, 3 car garage with work bench &1/2 bath. Open concept, split bedrooms, lots of storage space. Deeded boat slip. $355,000 MLS# 11865149

905-OPEN CONCEPT. Large living area with formal dining area. Roomy kitchen with plenty of counter & cabinet space & a good sized breakfast dining area. Split bedroom arrangement with a study-office off of 2nd bedroom. Master bath has a double vanity & separate tub & shower. Large corner lot with storage building. $14,459 MLS# 11824279

2018-OUTSTANDING VALUE! Level cul-de-sac building site in Bluff View. Across the street from Lake Granbury in a neighborhood of fine homes. HOA fees include lawn maintenance and watering. $14,900 MLS# 11890873

Each Office is Independently Owned and Operated

4810 E. Hwy. 377 Granbury, Texas 76049

817-579-1504

Rod Davis, ABR

REALTOR Associate

www.roddavis.remaxtexas.com

259-IT’S ALL HERE - lake frontage, fishing creek, & golf course. Treed, park-like setting. 2 decks. Updated with hardwood floors, crown molding, lighting, granite, custom cabinets, new Jetta tub, walk-in shower, new window treatments. $319,000 MLS# 11896955 272-WOW! You’ll think you’re in a new home. New paint & carpet, c-tile floors. Granite c-tops & mosaic backsplash in kitchen. New appliances. Refinished cabinets & doors, new lighting fixtures & c-fans. New wood deck. $219,900 MLS# 11787190 262-INVITING STREET APPEAL WITH FRONT PORCH & DORMER ROOF. Open floor plan. Kitchen has wood floors & granite. Fireplace, high ceilings & molding. 30X10 sun room. Yard has 25X25 slab for workshop. Golf cart garage. $170,000 MLS#11848099

239-SPECTACULAR HILLTOP VIEW of countryside and Lake Granbury from covered front porch & inside. Elegant Southwest decor. Granite, heavy crown molding, wired for surround sound. Private setting. Comparable age of 5 years. $260,000 MLS# 11870531 229-ATTRACTIVE PRICE for those looking at making cosmetic changes. Open kitchen/family room with double doors to wood deck for entertaining and cooking. Corner lot, circular drive, storage building, huge pecan trees. Seller will pay 1/2 of HOA initiation fee. Seller will consider owner financing with acceptable offer. $119,900 MLS# 11653672 285-EASY TO LOVE! Light & bright. Granite countertops, plantations, open floor plan with 2 living areas, and covered wood deck with stone patio looking out on #4 fairway in gated, guarded, DCBE. $ 175,000 MLS# 11854894

282-MULTI-LEVEL RIVERFRONT HOME in Pecan with 2-level deck overlooking river. 4 bd, 2½ baths, about 2862 sq.ft. 2 lots & 1 assessment. Updated island kitchen with granite, wood floors. Attached 2-car garage with walled off golf cart or workshop space. $289,000 MLS# 11778729

The Granbury Association of REALTORS recommends you do business with our GREAT affiliates.   

       

         

 

Laurel W Pirkle, Agent 301 S. Morgan Granbury, TX 76048 Bus. 817-573-5504 Fax. 817-573-6631 laurel.pirkle.b4b7@statefarm.com

24 Hour Good Neighbor Service ®

more great rates, low fees friendly, responsive service quick approvals

Melissa Schaefer NMLS #441943 817-579-4902 www.communitymortgage-tx.com

how to deduct your mortgage interest & equity loan costs By: Richard Koreto Deducting mortgage interest, as well as interest on home equity loans and HELOCs, can save money on taxes. Know your loan limits A good place to check out what you can deduct before you borrow is the chart on page 3 of IRS Publication 936. It’ll walk you through the requirements you must meet to deduct all of your home loan interest. It’s an hour well spent. The first hurdle you’ll run into is the total amount of your loan or loans. In general, individuals and couples filing jointly can deduct the interest on up to $1 million ($500,000 if you’re married and filing separately) in combined home loans, as long as the money was used for acquisition costs, that is the cost to buy, build, or substantially improve a home, explains Scott O’Sullivan, a certified public accountant with Margolin, Winer & Evens in Garden City, N.Y. Any interest paid on loan amounts above the $1 million threshold isn’t deductible. The same $1 million limit applies whether you have one home or two. Buying a vacation home doesn’t double your loan limits. And two homes is the max; you can’t deduct a mortgage for a third home. If you have a mortgage you took out before Oct. 13, 1987, you have fewer restrictions on claiming a full deduction. The calculations for “grandfathered debt” can get complex, so get help from a tax professional or refer to IRS Publication 936. Whatever you do, don’t forget that you can also deduct the points and fees associated with a first or second mortgage when you initially buy your home, says Jeff Rattiner, a CPA with JR Financial Group in Centennial, Colo. If you refinance the same house, you have to deduct those costs over the entire term of the loan. If you refinance again, you can deduct all the costs from the earlier refi in the year you take out the new loan. Spend loan proceeds wisely The other limitation on how much you can borrow and still get your deduction comes into play when you take out a home equity loan or HELOC that you don’t use to buy, build, or improve your home. In that case, you can deduct the interest you pay only on the first $100,000 ($50,000 if married filing separately). This loan limit also applies in a so-called cash-out refi, in which you refinance and take out part of the equity you’ve built up as cash, says John R. Lieberman, a CPA with Perelson Weiner in New York City. That means if you decide to take out a $115,000 home

Granbury Association of REALTORS page 12

equity loan to buy that Porsche, you can deduct the interest on the first $100,000 but not on the $15,000 that exceeds the limit. Use the same $115,000 to add a new bedroom, however, and the full amount is allowable under the $1 million cap. Keep in mind, though, that the $115,000 gets added into the pot of whatever else you owe on your other home loans. In many cases, points and loan origination costs for HELOCs are deductible. Consider this simplified scenario: You borrow $250,000 against your home at 8% interest. That means you’ll pay $20,000 in interest the first year. Spend the $250,000 on home improvements, and all of the interest is deductible. Spend $150,000 on improvements and $100,000 on your kids’ college tuition, and all the interest is still deductible. But spend $100,000 on improvements and $150,000 on tuition, and the improvement outlays are deductible, though $50,000 of the tuition expense isn’t. That’ll cost you $4,000 in interest deductions. Preserve the $4,000 deduction by coming up with the extra money for tuition from another source, perhaps a low-interest student loan or by borrowing from a retirement plan. For someone in a 25% bracket, a $4,000 deduction lowers taxes by $1,000, plus applicable state income taxes. Beware the dreaded AMT Even if you’ve followed all the loan limit rules, you can still get stuck paying tax on mortgage interest. How come? It’s all thanks to the Alternative Minimum Tax. Congress created the AMT, which limits or eliminates many deductions, as a way to keep the wealthy from dodging their fair share of taxes. Calculating the AMT can be complex, but if you make more than $75,000 and have several kids or other deductions, you might well be subject to it. Problem is, if you fall into the AMT group, you may not be able to deduct interest on a home equity loan, even if the loan falls within the $1 million/$100,000 limit. If you’re subject to the AMT and borrow money against the value of your home, you’ll have to use it to buy, build, or improve your place, or you may not have a chance to deduct the interest, says Rattiner, the Colorado CPA. This article provides general information about tax laws and consequences, but shouldn’t be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice.

Joy Paris 817-964-0800 laura@lauralife.com www.lauralife.com

Cell 817-578-5408

Laura Life REALTOR®

RE/MAX Lake Granbury

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4810 E. Hwy. 377, Granbury,Texas 76049 cell: (817) 578-5408 or office: (817) 579-1504

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Broker/ Owner MLS #11793397 - New Construction - beautiful 2,259 sf, 3 bdrm, 2 ba, home in a gated lakeside community. Features granite countertops, stainless appliances, gas cooktop, gas F/P. Spacious master, private bath, claw-foot tub, separate shower, large closet. First single family DETACHED home in this community. $285,000

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MLS #11861224 - Luxurious 3 bdrm + study, 3 bath, 2,344sf townhome in a gated lakeside community. Open concept floorplan. Stainless appliances, gas cooktop, granite, travertine floors. Large master suite, elegant master bath w/ separate vanities, jetted tub, walk-in shower, large walk-in closet. Irrigation from the lake. $284,000 (Also available for lease)

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MLS #11852601 - Sophisticated 3 bdrm, 2.5 bath, 2,744 sf golf course home built by award winning builder. Overlooks tee box, green, & pond. Rich colors and textures, beautiful cabinetry, granite, split bedroom floor plan, gas F/P with granite surround, large master suite, inviting master bath, jetted tub, separate shower, and large walk-in closet. $355,000 (Also available for lease)

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MLS #11862637 - Elegant 3,156 sf, 4 bdrm, 3-1/2 bath home with a breathtaking view of golf course. Handscraped wood flooring, dream kitchen, large island with sink, granite, stainless appliances. Outdoor living area with stone bar, grill, pergola, waterfall & landscaping. 2nd living upstairs. $399,900.

Each Office is Independently Owned and Operated

297-CUSTOM, ONE-OWNER HOME, BUILT BY GERALD BOGGS. Premium location on Crescent Drive. Beautiful golf course lot. Excellent floorplan, high ceilings, spacious split master suite. Formal & informal dining, wood burning fireplace & wet bar in living room. Covered rear porch. Immaculate landscaping, sprinkler system. $198,000 MLS# 11897271 215-BRAND NEW on 2 big lots. 10 ft. ceilings, rounded corners, arched entries, today’s colors. Spacious 3/2/2. Split master suite. Large kitchen, quality cabinets. Big closets. In site built only area.YOU WILL LOVE IT! $119,900 MLS# 11878778 200-ACTON-WALNUT CREEK. This one belongs in “Better Homes & Gardens” magazine. Beautifully updated. Open concept living/dining with fireplace. Master with updated bath and decorative fireplace. Extra large fenced, landscaped lot. $129,500 MLS# 11887439 288-ANCIENT OAKS shade this home and the big backyard with wonderful golf course views. Spacious kitchen/breakfast room. Living/formal dining room has vaulted beamed ceiling & WBFP. Sunroom overlooks golf course. Split master with large sitting area. New paint. Sprinklers. $169,900 MLS# 11854524 710-MULTI USE OFFICE BUILDING Located in Acton opposite DeCordova Bend front gate. Central reception area. 10 large offices, 2 baths & kitchen. $179,000 MLS# 11889627

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MLS # 11866159 - Build your DREAM home on this 2.39 acre site in the exclusive Tres Vistas Estates. This gated community offers privacy, security, tranquility, along with a beautiful views, and a private stocked community lake...make this your next home site! Easy commute to Fort Worth or Granbury. $73,921

237-BRAND NEW on 2 big lots. 10 ft. ceilings, rounded corners, arched entries, today’s colors. Spacious 3/2/2. Split master suite. Large kitchen, quality cabinets. Big closets. In site built only area.YOU WILL LOVE IT! $119,900 MLS# 11878805

Visit Our Website to View ALL Listings! Outstanding Agents « Outstanding Results

Lake Granbury OPEN SUNDAYS!

remax-lakegranbury-tx.com

Joy Paris, CRS, ABR Broker/Owner 817-579-1504

Jeff Alexander

817-219-2939

Linda Blankenship 817-219-5774

Steve Conley

254-205-2733

Steve Cook

817-929-3905

Pat Correll

817-776-0323

817-579-1504 or 800-749-8199 Outside of Granbury

203-DCBE GOLF COURSE HOME. 3-2½-2 on #12 fairway, granite countertops, recently updated through out entire house, great for entertaining with large covered porch with fireplace! $199,999 MLS# 11895267

600-WIDE OPEN WATERFRONT! Sit on your decks and take in the spectacular views! Darling 2 bedroom mobile, updated, 2 living areas. Rock walls, dock with lift, jet ski lifts & decks over the water. HAVE FUN! $159,500 MLS# 11855839

820-MOVE TO THE COUNTRY! 20.9 acres, 4000+ sq.ft. home, 5 bedroom, 3½ baths, 3 living areas, & study. Hardwood floors, fantastic kitchen with island, granite. In ground pool, 30x50 4 stall horse barn/shop, pond, nice oak trees. $594,500 MLS# 11729047

4006-DECORDOVA BEND ESTATES. Build your dream home on one of the last available water access lots that comes with a covered boat dock! A rare opportunity - hurry! Price reduced from $100,000 to $60,000 MLS# 11838811

214-PECAN PLANTATION ESTATE! Custom built, 4 bedroom, 3 full bath, large game room. Great floor plan, over 3100 sq.ft., large open kitchen, living room and formal dining. 3 car garage. Over 1 acre, large pecan trees, very private, large deck. $297,500 MLS# 11902022

422-SOLID AS A ROCK!! 4/2/2 CP WITH POOL ON TREE-COVERED CANAL LOT! 2 living areas, large kitchen, huge master. Covered back deck with large oaks overlooking pool & canal. Immaculate wonderful area! Nice! $162,500 MLS# 11886567

816-SCENIC HILLTOP SETTING ON 5 ACRES IN MOUNTAIN LAKES. Energy efficient 2392 sq.ft. home. Open concept. 2 living areas. 38X15 screened porch. Huge 70X30 metal shop with full living quarters. $295,000 MLS# 11777074

241-WELL MAINTAINED 3/2/2 IN ROYAL OAKS. Large trees, mature landscape, complete sprinkler system, corner lot partially updated. Great floor plan, vaulted ceiling, formal dining. Fireplace with large hearth. $129,500 MLS# 11853993

263-GREAT 4 BEDROOM, 2 BATH BRICK HOME. Custom features granite counters, custom cabinets, large utility with sink, tall ceilings, jetted tub in master, covered patio, fenced yard, rock retaining wall in back yard. Great location! $172,000 MLS# 11896845

228-100% Financing available on this home. Check out the virtual tour! This is a fantastic buy on this darling 3bd/2ba on large lot with big fenced backyard. Hurry! Waterfront community has its own boat launch, pool etc. $89,900 MLS# 11688853

271-GREAT PROPERTY ON A QUIET CUL-DE-SAC near the golf course and club house. 3/2/2 plus golf cart area in garage. Flowing floor plan with chef’s delight kitchen, formal dining. Tall ceilings, arched doorways and windows. Covered patio, fenced yard. $139,900 MLS# 11871171

235-WONDERFUL 3bd/2ba family home in DCBE. Tremendous buy! 2 car garage. Large lot. Great workshop. Enjoy all the amenities, free 27 holes of golf; tennis, swimming, clubhouse, marina & more. Gated & guarded entrance & 24 hour patrolled security. $110,000 MLS# 11887728

601-WIDE OPEN WATER FRONT HOME WILL “FLOAT YOUR BOAT” because the party barge stays! Covered boat dock, cement boat ramp 3bd/2ba with screened deck to enjoy the fabulous views! MAKE OFFER! $165,900 MLS# 11867021

803-WONDERFUL COUNTRY HOME ON OVER 2½ ACRES IN A PARKLIKE SETTING. Large workshop on a slab, pond. Covered porches, front and back. Flowing floorplan with split bedroom arrangement, ceiling treatments, large living area with wood burning fireplace. $225,000 MLS# 11869446

209-NICE 3 bedroom, 2 bath stone house. Vaulted ceilings. Large fenced backyard. Great location. $91,000 MLS# 11846318

www.remax-lakegranbury-tx.com Outstanding Agents « Outstanding Results

Rod Davis

817-578-0660

Lynn Dirks

817-578-4841

Evelyn Joseph

817-243-9089

Martha Dugan

817-219-2517

Sally Moore

817-219-0896

Becky Williams

Lake Granbury OPEN SUNDAYS!

817-578-1327

4810 E. Hwy. 377

Granbury, Texas

Each office is independently Owned and Operated

268-PECAN PLANTATION! Immaculate 3/2/2 brick home, fresh paint, flooring & new appliances. Large front porch & patio, great floor plan, divided bedrooms, large open living area. Large fenced yard, backs up to the orchard. Very private. $159,900! MLS# 11773821

4008-UNIQUE WATERFRONT LOT. 108 ft. on the lake in DeCordova Bend Estates. One of a kind - zoned either single or multi-family. Proposed design for tri-plex available. Owner will carry bridge loan for 2 years with 20% down. $99,000 MLS# 11725139

249-ON 17TH FAIRWAY. FANTASTIC VIEWS! 5BR/3 BA, 3 car garage w/work bench &1/2 bath. Open concept, split bedrooms, lots of storage space. Deeded boat slip. $355,000 MLS# 11865149

225-IMMACULATE HOME! Brock schools, great location on over 1 acre - beautifully landscaped. Work shop, livestock barn, in ground pool & outdoor kitchen. Spacious 3/2/2, large kitchen with granite, excellent floor plan. $242,900 MLS# 11891734

289-JUST BLOCKS FROM SQUARE & SCHOOLS!!! Updated 3/1/2 cp with large living/dining. Huge fenced corner lot with pecan trees. Wonderful neighborhood. 100% financing available!!! A great one of a kind value!!! $79,500 MLS# 11886649

201-VERY SPACIOUS HOME in beautiful condition with 3 bedrooms, 2½ baths, 2 living areas and 2 dining areas. Walk-in closets. New floors, fresh paint. 3 car garage. Fenced and landscaped. $234,900 MLS# 11888029

606-FURNISHED LAKE HOUSE WITH LARGE MASTER SUITE. Covered boat dock with lift. Ample storage off the breeze way. Cute curb appeal on Ft. Worth side. $129,900 MLS# 11866409

246-TOTALLY REMODELED DUPLEX ON #1 HOLE. New A/C and heating. Great views of the lake and golf course. Close to the club house, pool and tennis courts. 24 hour gated and patrolled security. FREE GOLF! $84,900 MLS# 11880931

281-PECAN PLANTATION! Plenty of room for your family. 3 spacious bedrooms, study, 2nd living area, great floor plan, divided bedrooms. Large covered patio, landscaped fenced yard, sprinklers. Large kitchen with granite, formal dining. $219,900 MLS# 11748753

832-TOLAR, 5 ACRES! Perfect for large family. Four bedrooms, 3½ baths, 2 spacious living areas, formal dining, beautiful master suite. Two separate kitchens, great for entertaining, separate guest house, & work shop. Large pecan trees, coastal. Immaculate home. $387,500. MLS# 11841521

204-PECAN PLANTATION - 2+ ACRES! Bring your horse or just enjoy the privacy of this equestrian lot. Custom home, just under 3000 sq.ft., 3 bd., 3 bath, study, plus exercise room & 3 full car garage. Large covered patio, well landscaped yard, beautiful trees. Quality through-out! $339,900 MLS# 11796390

234-COMPLETELY REMODELED! 4/3/1 with 2 masters, split bedrooms, study/foyer. New inside and out when remodel complete. Large back yard with garage/workshop shaded by huge oaks. Come see! $149,500 MLS# 11902066

255-A HECK OF A DEAL! Appraised on tax roll for $643,000 in 2009. Listed today at $389,000. Great location with 6.1 acres fronting on Morgan outside city limits. 2bd/2ba house, lg. metal barn & lg. shed. $389,000 MLS# 11828786

278-TOTALLY REMODELED 3 BEDROOM 2 BATH, spent around $95,000 remodeling this property. Great neighborhood, close to schools. Great property in the middle of Granbury! $99,900 MLS# 11718795

407-GREAT WEEKENDER 20X21 Covered deck, boat slip, new foundation, steel piers in 2009, new roof 2008, close to stores, shopping & the historic town square. A polished jewel just waiting for you. $129,900 MLS# 11771637

9 easy mistakes home owners make on their taxes By: G. M. Filisko

property tax payments.

Published: December 31, 2012

Sin #3: Deducting points paid to refinance

Don’t rouse the IRS or pay more taxes than necessary — know the score on each home tax deduction and credit.

Deduct points you paid your lender to secure your mortgage in full for the year you bought your home. However, when you refinance, says Meighan, you must deduct points over the life of your new loan. If you paid $2,000 in points to refinance into a 15-year mortgage, your tax deduction is $133 per year.

Sin #1: Deducting the wrong year for property taxes You take a tax deduction for property taxes in the year you (or the holder of your escrow account) actually paid them. Some taxing authorities work a year behind — that is, you’re not billed for 2013 property taxes until 2014. But that’s irrelevant to the feds. Enter on your federal forms whatever amount you actually paid in 2013, no matter what the date is on your tax bill. Dave Hampton, CPA, tax manager at the Cincinnati accounting firm of Burke & Schindler, has seen home owners confuse payments for different years and claim the incorrect amount. Sin #2: Confusing escrow amount for actual taxes paid If your lender escrows funds to pay your property taxes, don’t just deduct the amount escrowed, says Bob Meighan, CPA and vice president at TurboTax in San Diego. The regular amount you pay into your escrow account each month to cover property taxes is probably a little more or a little less than your property tax bill. Your lender will adjust the amount every year or so to realign the two. For example, your tax bill might be $1,200, but your lender may have collected $1,100 or $1,300 in escrow over the year. Deduct only $1,200. Your lender will send you an official statement listing the actual taxes paid. Use that. Don’t just add up 12 months of escrow

Granbury Association of REALTORS page 16

Sin #4: Misjudging the home office tax deduction This deduction may not be as good as it seems. It’s complicated, often doesn’t amount to much of a deduction, has to be recaptured if you turn a profit when you sell your home, and can pique the IRS’s interest in your return. Hampton’s advice: Claim it only if it’s worth those drawbacks. If so, here’s what to know about what you can write off. Sin #5: Failing to repay the first-time home buyer tax credit If you used the original home buyer tax credit in 2008, you must repay 1/15th of the credit over 15 years. If you used the tax credit in 2009, 2010, or 2011 and then sold your house or stopped using it as your primary residence, within 36 months of the purchase date, you also have to pay back the credit. The IRS has a tool you can use to help figure out what you owe. Sin #6: Failing to track home-related expenses If the IRS comes a-knockin’, don’t be scrambling to compile your records. Many people forget to track home office and home maintenance and repair expenses, says Meighan. File away documents as you go.

For example, save each manufacturer’s certification statement for energy tax credits and lender or government statements to confirm property taxes paid. Sin #7: Forgetting to keep track of capital gains If you sold your main home last year, don’t forget to pay capital gains taxes on any profit. You can exclude $250,000 (or $500,000 if you’re a married couple) of any profits from taxes. So if you bought a home for $100,000 and sold it for $400,000, your capital gains are $300,000. If you’re single, you owe taxes on $50,000 of gains. However, there are minimum time limits for holding property to take advantage of the exclusions, and other details. Consult IRS Publication 523. Sin #8: Filing incorrectly for energy tax credits If you made any eligible improvements in 2012 -or will in 2013 -- such as installing energy-efficient windows and doors, you may be able to take a 10% tax credit (up to $500). But keep in mind, it’s a lifetime credit. If you claimed the credit in any recent years, you’re done. Fill out Form 5695. Part II of the form, which covers systems eligible for a larger tax credit through 2016, such as geothermal heat pumps, can be incredibly complex and involves crosschecking with half a dozen other IRS forms. Read the instructions carefully. Sin #9: Claiming too much for the mortgage interest tax deduction You can deduct mortgage interest only up to $1 million of mortgage debt, says Meighan. If you have $1.2 million in mortgage debt, for example, deduct only the mortgage interest attributable to the first $1 million. This article was original published in Jan. 2011. This article provides general information about tax laws and consequences, but shouldn’t be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice. Visit houselogic.com for more articles like this. Reprinted from HouseLogic with permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2012. All rights reserved.

Jerry Williamson Licensed Texas Broker

817-706-6582

www.ComanchePeakRealty.com 139 – REDUCED – GREAT LOCATION NEAR DOWNTOWN GRANBURYRecently remodeled and updated just off Morgan Street. Spacious inside. Backyard is almost entirely hard surfaced patio. Great deck. 3 Bed/2 Bath, over 1600 SF. $109,000 MLS# 11759692

175 – CUSTOM BUILT ON 20 ACRES IN CEDAR HILL – 4 Bed/3 ½ Bath, Game room, wrought iron fencing, circle drive, mature trees, workshop with 2 overhead doors. Leased garage apartment. $540,000 MLS# 11895693

171 – CUSTOM SATTERWHITE LOG HOUSE BARN – on 10 acres near Mineral Wells. Four horse stalls, tack room with sink. 1 bed, 1.5 bath, 1000 sf. $239,000 MLS# 11878759

167 – NEW CONSTRUCTION IN HARBOR LAKES – Gorgeous Golf Course home. 4-bedrooms, study, 3-bath, 2-car + golf cart garage. Almost 2,700 sf. Designer colors, hardwood floors, granite counters. Balcony overlooks golf course and main body water. Energy efficient energy package includes spray foam insulation & climate controlled attic. $345,000 MLS#11871701 174 – 256 ACRES WITH OVER HALF MILE HWY FRONTAGE ON HWY 67 – Beautiful rolling hills, improved pasture, 7 stock tanks, income from water sales from deep well. Will subdivide. Development opportunity. $2,282,000 MLS# 11892110

There’s a reason homeownership is the foundation of the American Dream. Over time, owning your home has proved to be a good decision. And while lately the economy has presented some challenges, it has also helped us focus on what matters most. It’s reminded us that home is where we make memories, build our future and feel comfortable and secure. When you’re ready, a REALTOR®, a member of the National Association of REALTORS®, can help you find the home that’s right for you. REALTORS® are prepared—to answer your questions, show you options and guide you home.

Every market’s different, call a REALTOR® today.

8700 Ravenswood Pecan Plantation River House built by Brian Gaffin Liv Din Master & Study with River views. Lots of trees, screen porch & stone patio. Kitchen has newer appliances & granite countertops. 3/2/2 + golf cart garage. This home is a charmer! $279,900

821 Wandering Court Designer Home in Meander Estates 4 Bedroom or 3 Bedroom with Study, End of Cul de Sac. Living Spaces with Upgraded Laminiate. Large Kitchen with Breakfast Bar. Fenced Yard with large storage building. $174,900

1009 Hayden Court Well Cared for Home in Heather Place. 2/2/2 + Small Study. Living Space has cherry wood floors. Move In Condition $134,900

221 W. Pearl Street 1913 Vintage Craftsman. Hardwood floors. Has Parlor, Dining & Study. Updated kitchen. Downstairs Master. Upstairs Bedroom has Jacuzzi tub/shower combo. Home needs some work. Motivated seller. $195,000

LYNN DIRKS ABR, CRS,GRI,SRES

817- 579-1504 Cell: 817- 578-4841 dirkslynn1@hotmail.com

WWW.REMAX-LAKEGRANBURY.TX.COM Each office independently owned & operated

RE/Max Lake Granbury

4810 E Hwy 377

Granbury, TX 76049

240-GREAT UPDATED 3/2/2 brick home. Located in quiet subdivision. Wonderful wooded corner lot. New appliances, paint, carpet, vinyl, kitchen cabinets and countertop. A must see! $119,900 MLS# 11858999

722-GREAT COMMERCIAL PROPERTY on busy Hwy 377 E. 167 feet of road frontage, fenced. Unbelievable as it may sound only $6.25 per sq.ft. Value plus! $250,000 MLS# 11394015

914-OVERSIZED DOUBLEWIDE LOCATED ON 2 LOTS. Very roomy with 2 living areas, 2 dining areas, great kitchen with tons of cabinets & spacious work area. Separate utility room. Clean & ready for the lucky family. $67,900 MLS# 11635328

Love Where You Live!

#214 Elegant Home in Water’s Edge 3/3.5/2 Boasts 114 feet of waterfront with large boat dock. Screened back porch enjoys evening shade. A must see! $369,000

#111 4/2.5/2 Beautiful family home with fabulous kitchen for dining and cooking with tons of storage. Plenty of room for horses. Pool with waterfall. $479,000

#109 3/2.5/2 BUILDERS Personal Home In Exclusive Abe’s Landing– Amazing attention to detail. Handscraped hardwood floors and granite countertops. $249,900

#546 Hills of Granbury - 4/2/2 Great floor plan. Split bedroom arrangement. Beautiful wood flooring. Very large backyard with storage building. $175,000

#280 Pecan Plantation—3/2.5/3 Airpark Custom Home on west side of Airstrip. Open 2-story with Master down. Extra tall Hanger - has been used to stack 2 aircraft. $359,900

#114 Meander Estates - 4/2/3 Beautiful 4 bedroom home on half acre lot with large trees. Open floor plan features a large great room. $169,000

#224 The Peninsula - 5/3.5/3 Amazing single story Lake Retreat. Gorgeous tiled courtyard entry, 8 foot windows viewing the pool, spa & lake. 2 slip boat dock. $899,000

#122 Bentwater - 3/2/2 Breathtaking view looking over the private pond out to view of Lake Granbury from back porch and 4 bedrooms! $240,000. Also for Lease for $1,750

#404 Pecan Plantation - 4/3.5/3 Majestic, immaculate, yet cozy and welcoming. Stainless, granite, and slate covered patio & lots of other custom features. $249,000

#121 Vineyards at Harbor Lakes 2/2/2 Professionally decorated townhome with gorgeous features throughout including the woodwork and crown molding. $239,000

#502 Stephenville– 4/2/2 Brick home on 16 acres. Awesome 30x30 workshop with attached 15x20 shop. Plenty of room for farm equipment and horses. $275,000

#549 Gemstone Estates - 3/2/2 Beautiful ready-to-move-in clean and gorgeous home. Cozy backyard with large covered patio with hot tub. $159,900

Granbury - 817.573.8801 - 122 N. Crockett St. www.century21shooks.com

817-279-2676

3405 E. Hwy 377, Suite B Granbury, TX 76049 817-573-7564 Visit us on the web - www.albertland.com

# 110 SPACIOUS 3-2-2 BRICK ON GREAT PRIVACY FENCED CORNER LOT; only a few blocks from hospital, schools, & shopping; Oak tree shaded privacy fenced rear yard with a large patio; Spacious living room, separate office space off kitchen, large spare bedrooms, recently upgraded energy efficient low-E tilt-n-sash windows. Priced @ $109,900 offers welcome.

Albert Land, Owner Broker

email: albert@albertland.com

# 130 SPACIOUS 3 BEDROOM, 2 BATH BRICK HOME ON SECLUDED CULDESAC; just minutes from downtown Granbury’s Historic Square, shopping, schools, and hospital; large bedrooms, custom cabinets; recent upgrades include Low-E tiltn-sash windows, roof shingles, and A/C-Heat systems; portion of garage enclosed to offer large study/library; large back yard offers secluded wooded country setting. Asking $114,500

# 105 Long Creek area lake front nice older 3-2 DW on 2 large lots; great rural setting just minutes from the Historic Granbury Square; attached 2 car garage; 2 workshops; large covered deck; lots of extras - Asking $ 69,900

BUILDING LOTS AVAILABLE

# 145 BEAUTIFUL HILLTOP 9.9 ACRE WOOD TRACT with this spacious 3 BR, 3 BATH, 2 CCP manufactured home offering a shop building, 34 X 40 livestock barn, and a very secluded setting; open concept split bedroom floor plan with 2 living areas and a large island kitchen; lots of large oak trees provide ample shade and covered front and rear decking to view wildlife and scenery; enjoy the outdoors. ASKING $ 150,000

# 125 SECLUDED 3-2-2 BRICK COUNTRY HOME on 17.3 ACRES; large pecan and oak trees; beautiful country style home; lots of covered porch with view of pond & creek; spacious island kitchen; landscaped yard area w/sprinkler; coastal pasture; nice barn w/pens & hay storage. Asking $269,000

# 210 A WALL OF WINDOWS VIEWS LAKE GRANBURY beautiful 4 bedroom, 3 bath, 2 story home in Gated – Golf Course Community: home offers 2 master suites; recently completed remodel shows off an elegant home loaded with amenities : Granite kitchen tops, stainless whirlpool gold series appliance pkg., lots of ceramic flooring, custom lighting & faucets, zoned A/C –Heat system and more; a 2 year old covered dock offers boat lift and double jet ski lift. $349,900

MANDATORY ETHICS TRAINING. NOT MANY PROFESSIONALS CAN CLAIM THAT ON THEIR RESUMÉ.

When REALTORS® complete mandatory Code of Ethics training, they not only set themselves apart from other professionals in the real estate industry, they set themselves apart from many industries. When it comes to the business of buying or selling a home, it’s nice to know that there’s someone you can count on to be honest and maintain high standards of practice. Visit realtor.org/codeofethics to learn exactly what the Code of Ethics is and how it benefits you as a customer. REALTORS® are the best source for real estate information. Working with a REALTOR® gives buyers, sellers and investors the advantage they need to succeed in today’s market.

Every market’s different, call a REALTOR® today. HouseLogic.com/buyandsell

why choosing a REaltor® is a better choice for you By Dave Dalzell

XA E T

S R E A LTOR

Investments go up and down in value. But history, and every Welcome to 2013! Using a REALTOR® who subscribes to the basic business class, tells us that on the average the home we REALTOR® Code of Ethics can make a difference for you and own will be worth more when we die than anything else we own your family. When you choose a real estate agent there is a (unless we also own our business property where we work). difference! A real estate salesperson is licensed by the state of Home ownership makes up the greatest single item of wealth Texas to be an agent for a licensed real estate broker. The bro- for the average American family. ker is authorized to serve clients in the buying, selling, negotiat- Buying your own home is not only the first and best investment ing, exchange, purchase or leasing of real property also called a person should consider but home ownership adds many real estate. The broker represents the buyer, seller, landlord other values to everyday life. Some of the documented social or tenant. Many licensed agents and brokers are also REALbenefits of home ownership from recent studies include: TORS®. The word “REALTOR®” is a registered trademark of the National Association of REALTORS® (NAR). It means the *Higher rate of high school graduation and thereby higher salesperson you are dealing with has future earnings for the children gone beyond the legal requirements for *Higher student test scores by children liva license and has voluntarily joined the ing in owned homes National Association of REALTOR®S *Increased charitable activity through their local association of REAL*Homeowners reported higher life satisfacTORS®. Each REALTOR® must agree tion, higher self-esteem, happiness, and CELEBRATE CENTURY OF to follow the REALTOR® Code of Ethics higher perceived control over their lives. and Standards of Practice. *Better health outcomes, better physical and psychological health This year marks the 100th Anniversary *Lower teenage delinquencies of the REALTORS® Code of Ethics. *Lower teen pregnancy by children living in The first Code of Ethics for the Naowned homes tional Association of REALTORS® was *Less likely to become crime victims written before license laws and most *Homeowners not only experience a sigEST. 1913 other regulations governing real estate nificant increase in housing satisfaction, existed. It was seen as a declaration of but also obtain a higher satisfaction even the industry’s principles and beliefs. The if they buy the same home in which they Code, a living document that today undergoes annual review resided as renters and revision, has been called a “golden thread,” uniting those *Greater Civic participation in both local community and nation devoted to raising the standards of professionalism and service issues (including voting) in real estate. As president of the Abilene Association of REAL*Higher incidence of membership in voluntary organizations TORS®, it is my honor to share with you some of the values of and church attendance this Code and how it creates value for you and your family. An article by Research Economist Selma Hepp, in the March The first line of our Code of Ethics says, “Under all is the 27, 2012 edition of Economist Commentaries, lists these and land. Upon its wise utilization and widely allocated ownership many more advantages that were documented in recent ownerdepend the survival and growth of free institutions and of our ship studies. civilization.” This dramatic line reminds us of the many values of owning our home. Business experts tell us that the home We are happier, wealthier, better participants in life when we we live in is our best investment. It is the only investment that own the home we live in. Truly, as the first line of our Code of takes money we are already spending as rent and turns it into Ethics states; “the wise utilization and widely allocated ownera valuable investment for our family. We cannot do that with ship” of the land we live on is paramount to the survival and anything else we spend money on for “costs of living” like food, growth of the community we live in. shelter or transportation. No one thinks the money we spend on gas, water or electricity is an investment. It is a cost of living. During the next few weeks we will explore together the REALWe need electricity and gas to heat our homes and cook our TOR® Code of Ethics and see how the values your REALfood. We need water to drink and stay clean. But these are not TOR® salesperson pledges to uphold make a real difference in investments. We need transportation to get to work, school or your life. We will look at the basic principles of our REALTOR® the doctor. But we know the day after we drive off the new car profession and how using the services of a REALTOR® can lot our car is worth less than it was the day before. But if we make a difference for you! buy instead of rent our shelter, our home, we make an investment for our future.

CODE

Granbury Association of REALTORS page 23

6 home deduction traps and how to avoid them By: Barbara Eisner Bayer Published: December 21, 2012 Get an “A” on your Schedule A Form: Dodge these tax deduction pitfalls to save time, money, and an IRS investigation. Trap #1: Line 6 - real estate taxes Your monthly mortgage payment often includes money for a tax escrow, from which the lender pays your local real estate taxes. The money you send the bank may be more than what the bank pays for your taxes, says Julian Block, a tax attorney and author of Julian Block’s Home Seller’s Guide to Tax Savings. That will lead you to putting the wrong number on Schedule A. Example: Your monthly payment to the lender: $2,000 for mortgage + $500 escrow for taxes Your annual property tax bill: $5,500 Now do the math: Your bank received $6,000 for real estate taxes, but only paid $5,500. It may keep the extra $500 to apply to the next tax bill or refund it to you at some point, but meanwhile, you’re making a mistake if you enter $6,000 on Schedule A. Instead, take the number from Form 1098—which your bank sends you each year—that shows the actual taxes paid. Trap #2: Line 6 - tax calculations for recent buyers and sellers If you bought or sold a home in the middle of 2012, figuring out what to put on line 6 of your Schedule A Form is tricky. Don’t simply enter the number from your property tax bill on line 6 as you would if you owned the house the whole year. If you bought or sold a house in midyear, you should instead use the property tax amount listed on your HUD-1 closing statement, says Phil Marti, a retired IRS official. Here’s why: Generally, depending on the local tax cycle, either the seller gives the buyer money to pay the taxes when they come due or, if the seller has already paid taxes, the buyer reimburses the seller at closing. Those taxes are deductible that year, but won’t be reflected on your property tax bill. Trap #3: Line 10 - properly deducting points You can deduct points paid on a refinance, but not all at once,

Granbury Association of REALTORS Page 24

says David Sands, a CPA with Buchbinder Tunick & Co LLP. Rather, you deduct them over the life of your loan. So if you paid $1,000 in points for a 10-year refinance, you’re entitled to deduct only $100 per year on your Schedule A Form. Trap #4: Line 10 - HELOC limits If you took out a home equity line of credit (HELOC), you can generally deduct the interest on it only up to $100,000 of debt each year, says Matthew Lender, a CPA with EisnerLubin LLP. For example, if you have a HELOC for $200,000, the bank will send you Form 1098 for interest paid on $200,000. But you can deduct only the interest paid on $100,000. If you just pull the number off Form 1098, you’ll deduct more than you’re entitled to. Trap #5: line 13 - Private mortgage insurance You can deduct PMI on your Schedule A Form, as long as you started paying the insurance after Dec. 31, 2006. Congress renewed the PMI deduction for 2012 and 2013 for people making less than $110,000. Since you’re thinking about it, this is also a good time to review your PMI: You might be able to cancel your PMI altogether because you’ve had a change in loan-to-value status. Trap #6: line 20 - casualty and theft losses You can deduct part or all of losses caused by theft, vandalism, fire, or similar causes, as well as corrosive drywall, but the process isn’t always obvious or simple: Only deduct losses that are greater than 10% of your adjusted gross income (line 38 of Form 1040). Fill out Form 4684, which involves complex calculations for the cost basis and fair market value. This form gives you the number you need for line 20. Bottom line on line 20: If you’ve got extensive losses, it’s best to consult a tax pro. “I wouldn’t do it myself, and I’ve been dealing with taxes for 40 years,” says former IRS official Marti. This article provides general information about tax laws and consequences, but shouldn’t be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice.

GRANBURY REALTY

Sherri Reynolds Broker - REALTOR® 817-578-1559

Charming Stone & Brick w/beautiful accents. Built ins thru out the home. Dreamy bedroom that every little girl would love to call hers. Office/study could be 4th bedroom. Lg. master bath & closet. Includes Golf cart space in garage, back yard fenced. Great VALUE in PP. $189,500

Just right and ready to move into... This adorable home includes decorator furniture. Huge bedroom (up), large enough to be two bedrooms. Located in Canyon Creek, HOA includes pool, club house & boat ramp. This is truly an adorable home - You will be glad you took your time to see it. $79,900

sherri.reynolds@charter.net waterfront * residential * ranches * commercial

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Porter Title Company Three Locations To Serve You! Main Phone: 817-579-3100 Metro: 817-578-2000 Fax: 817-573-5467

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Waters Edge Office 1099 Waters Edge Dr. Suite 200 Granbury, TX 76048

Plant Office 1924 Acton Hwy Granbury , TX 76049

Porter Title Company is a title and escrow company that has been serving Hood County real estate needs since 1937.

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Protecting home ownership for future generations. For the first time in generations, the dream of home ownership is being threatened. REALTORS速, members of the National Association of REALTORS速, are here to represent you and protect home ownership. Learn more about this important issue at HouseLogic.com/homeownership.

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43103 UNBELIEVABLY beautiful custom home with upscale fixtures, appliances, crown molding and design features you have dreamed about. Attention to detail is evident everywhere. SELLER MOTIVATED!! $272,000

51203 REDUCED FOR A QUICK SALE! GREAT ROCK HOME on a Corner Lot canopied with Majestic TREES*Tree Swing with a HUGE Backyard DECK that wraps around the back of the House with access from the Master Bedroom! $122,995

62363 GREAT garden home on quiet cul-de-sac and #18 hole near Pecan Plantation Clubhouse. Open Living, Dining and Kitchen areas. Tile kitchen, nice appliances. Washer, dryer and fridge convey! COME SEE!!!! $115,900

96113 Charming home with a decoratorâ&#x20AC;&#x2122;s touch. Located in Pecan Plantation, overlooking the large pecan orchard. A lovely deck allows you to relax, read or entertain. Well maintained home with lots of charm. $163,000

51243 MAINBODY View Townhouse*Open Concept*HARDWOOD Floors*Vaulted Ceilings. HUGE Pantry!! THREE MASTER BEDROOMS!!! Balcony, patio, WONDERFUL View!! OWNER FINANCING!! $285,000

90043 Custom home on quiet cul-de-sac on 1+ acres! Hand scraped wood floors, Open floor plan, granite, stainless, island, lots of cabinets, walk-in pantry. Large bonus room can be what you need. GREAT outdoor area! $332,000

88043 This well maintained home is located in the prestigious community of Pecan Plantation. Spectacular view of 8th green and pond. UPDATED Kitchen! Great room has NEW wood floors!! Deeded RV parking FOREVER! $333,000

49023 OWNER IS SERIOUS! BRING AN OFFER! Hand Scrapped Wood Floors,Plantation Shutters,Crown Moldings, High Ceilings and many Upgrades Kitchen. Excellent home for Entertaining Family & Friends! $259,900

91273 This well maintained, landscaped home is located in the prestigious golf course community of Pecan Plantation. Private, with large live oak trees. Spacious dining room overlooking the patio and extended deck. $197,500

39053 Delightful brick home in Knob Hill with unrestricted view of Comanche Peak. Immaculate and charming home with 3 bedrooms and 2 baths. The kitchen has oodles of cabinet space, even a folding counter in the utility. $149,000

15083 This Home was started in 2008, completed 2009 and new wood flooring in 2012! Large fenced back yard. Spacious Foyer brings you into the large living area. Built in Cabinets in Garage with workbench. MOVE IN READY! $139,900

94063 Custom home on #2 hole of Nutcracker Golf Course! Great open floor plan. Hand scraped wood floors in traffic areas, island kitchen,marble, double ovens and built-in wine cooler! Closed-in porch has A/C & Heat!! $349,000

Jeannette Black - Owner/Broker

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