Speculative Builder Tax

speculative builder tax

Speculative builders are subject to real estate excise tax on the selling price of the land along with all attachments including buildings, roads, and other structures. The sale of real estate is not subject to the B&O tax or retail sales tax.   A speculative builder is the consumer of all material incorporated into the real [...]

Homes Built for Speculation: Spec Home Rules

spec home rules

When you build a spec home you are creating an asset that will be sold to another person. Spec homes are built in anticipation of a sale; therefore, a construction contract does not exist. You do not use the rules for home construction contracts, which are contracts to build a home with four or fewer [...]

Avoid Getting Hooked by Debt-Reduction Schemes

avoid debt reduction schemes

Get rid of debt fast and easy, for pennies on the dollar. If the deal sounds too good to be true … well … you know the drill. As the jobless rate climbs, many people find themselves falling behind on credit-card bills, struggling with living expenses and bogged down with a mortgage or car payment. [...]

Will Stimulus Benefit Homeowners and Buyers?

stimulus help home buyers

“There are four primary sections of the economic stimulus plan that will benefit home owners and buyers,” said Gibran Nicholas, chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers. According to Nicholas, these include: 1. Expansion of Home Improvement Tax Credit. ”The tax credit for making energy efficient home improvements is [...]

Selling Spec Homes with Social Media

Have you heard the term viral marketing? Chances are you have, but if you haven’t here is a good definition: Viral marketing is a term used to describe a message or information that spreads quickly, effectively, and contagiously through networks of friends, families, and third party relationships. Quickly – the viral message is usually passed on [...]