03 Sep 2019
By RESCO Realty

What’s Ahead For Mortgage Rates This Week – September 3rd, 2019

Financial Reports, ,
Last week’s economic news included  readings on home price trends, pending home sales and weekly readings on average mortgage rates and first-time jobless claims. The University of Michigan also released consumer sentiment report. Case-Shiller Reports Slower Home Price Growth in June According to Case-Shiller Home Price Indices for June, home prices gained an average of 2.10 percent year-over-year. This was the slowest growth of home prices since 2012. Analysts said that home prices grew at one-third the 6.30 percent that home prices grew last year. Home prices grew fastest in Phoenix, Arizona with year-over-year growth of 5.80 percent; Las Vegas,…
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30 Aug 2019
By RESCO Realty

The Importance Of “Rights” When Buying A Property

Real Estate, ,
When buying real estate there are certain standard rights usually included, unless the property has an encumbrance that in some way causes an exclusion as noted in the sale.There are also additional rights that may or may not be in the sale, which may represent significant value. Standard Real Estate Ownership Rights The standard rights conveyed to the owner of the title deed for a property include: Possession: Possession is a legal word for ownership. Possession occurs after closing on the purchase of a property, receiving the title, and recording the sale with the county office where the property is.…
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29 Aug 2019
By RESCO Realty

What Is A 1031 Tax Exchange?

Real Estate, ,
A 1031 tax exchange is a legal way to defer paying capital gains when selling a property and then buying a "like-kind" property within the allowed period. The time limits allowed are 45 calendar days after the close of the sale of the first property to identify the like-kind property for acquisition and then close the purchase transaction to complete the 1031 exchange within 180 calendar days. Like-Kind Property The property's broad characteristics determine if it is a like-kind property, not the quality of the asset. In real estate investing, there is a wide variety of things that qualify for…
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