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Saturday, April 9, 2016

More Money in Your Paycheck Tax Time Tips


More Money in Your Paycheck

A homeowner’s tax savings benefit is generally realized when they file their federal income tax return after the money has been spent for the interest and property taxes. Some people look forward to the refund as a means of forced savings but some people need to realize the savings during the year.

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It is possible to adjust the deductions being withheld from the homeowner’s salary so they realize the benefit of the savings prior to filing their tax returns in the form of more money in their pay checks. Employees can talk to their employers about increasing their deductions stated on their W-4 form.

By increasing the exemptions or deductions, less is taken out of the check and the employee will receive more each pay period. If a person over-estimates their exemptions and therefore, underpays their income tax, they might incur interest and would have additional tax to pay when they filed their tax return.

Buyers considering this strategy should seek tax advice and discuss it with their human relations department at work. Additional information is available on the Internal Revenue Service website about Completing Form w-4 and Worksheets.

Components of a Credit Score

Components of a Credit Score

Credit scores are used by lenders to measure the credit worthiness of borrowers. While there are several different companies that offer scores, the FICO, Fair Isaacson Corporation, is the model that is used most often. 
There are five key components that determine the overall score or rating. The most emphasis, 35% of the overall score, is placed on payment history which reflects whether the borrower paid on time and as agreed by the terms of the credit. Being late, missing payments or going into default would have adverse effects on this part of the score. 
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The second largest component, 30%, is credit utilization or the amount owed in relation to amount available. A person might have a $4,000 outstanding balance on available credit of $20,000. This would be a 20% ratio and would be considered acceptable. Owing $15,000 on $20,000 of available credit would be a 75% ratio and would negatively affect this part of the credit score. FICO says people with the best scores average around 7% credit utilization.
The length of time each account has been open and the account’s activity determines 15% of the total credit score. By having a longer credit history, the credit provider has a better indication of the borrower’s long-term financial behavior. Having an open account without activity doesn’t offer a provider much information.
New credit and types of credit each account for 10% of the total score. New credit can adversely affect a score because it is a new obligation without history of how it will affect the borrower’s ability to repay all of their liabilities. Types of credit include both revolving and installment debt. A good mixture of each can indicate less risk for lenders.
The combination of all five areas make up the total score which lenders use to determine credit worthiness. Another confusing issue is that all credit scores are not mortgage credit scores. This particular score determines not only whether the lender will make a mortgage but at what interest rate.
The best place to get your credit score if you’re planning on purchasing a home is from a trusted mortgage professional. This person will be able to suggest things to improve your score if necessary. Buying a home is one of the largest investments in most people’s lives; it is really not a do-it-yourself activity.

Captivating Elegance in Corrales


1463 W. Meadowlark Lane, Corrales

If you like animals general and horses, in particular, you will like living in Corrales in Sandoval County, and I have just the home for you at1463 W. Meadowlark Lane.  It is a charming home that flows along the upper end of a one- acre lot that slopes gently through a garden of raised flower beds, ornamental trees and a lawn past a ramada to a fence on the north side of the easement that separates the neighbor’s property. 

The older section of the home, built in 1987 was updated to preserve elements of the original adobe structure. The 2007 updates of roof, heating and cooling system, windows and floors blend seamlessly with the newer two-story self-contained private suite with conventional shower, steam bath, stunning views of eastern and southern mountains and the city of Albuquerque. The Southwestern elements maintained are evident in exposed beams, brick floors and the Kiva fireplace.  The  kitchen and laundry have state-of-the art appliances and fixtures and the bathrooms are modern and efficient.  You will like the charm and privacy of the gated courtyard that is the portal to this home. 

The living areas have an open floorpan  that is ideal for entertaining yet the home maintains wonderfully private spaces for leisure and relaxation. I particularly  like the way most rooms have access to patios,decks, the outdoors, the gardens and views. There remains ample space for the allowed pets of your choice. Horses we know, are definitely welcome!

Saturday, April 2, 2016

Pastoral Corrales Home

New on the market in pastoral Corrales is charming 1463 W. Meadowlark Lane. To see this home is to fall in love with it. Call to arrange a visit.

Thursday, November 12, 2015

Good-bye Summer

We are transitioning from summer to fall and the cottonwoods along the bosque are all putting on their showy, red-tinged yellow dress for the season.  Unless the weather surprises us, we will continue to have beautiful days for enjoying the outdoors long into and the winter months. The parks will continue to attract visitors for picnics and we will be comfortable enjoying paths and bike trails winding through the city, the Petroglyphs and along the river.

This video of a neighborhood picnic in late November a few years ago reminds me that November in Albuquerque more often than not offers all the joys of a summer month.
Picnic in the Park

Eloise Gift
Gift Realty NM