Insurance, Kentucky Insurance

“The NAIC survey found that 33 percent of U.S. heads of household, who own a home and have homeowners insurance, incorrectly believe flood damages would be covered by a standard homeowners or property and liability policy, despite extensive media coverage on Hurricane Katrina victims whose claims were denied because they lacked flood insurance.

“Many homeowners learned the hard way that their insurance policies did not provide flood protection,”….” Homeowners Insurance

Technorati Tags: homeowners insurance, rental property insurance

from Wikipedia

A 1031 Exchange, also known as a Like Kind Exchange or Starker Tax Deferred Exchange (named for an investor who challenged and won a case against the IRS) is a transaction under United States law which specifies that if an asset (usually some form of real estate such as land or a building) is sold and the proceeds of the sale are then reinvested in an asset of a similar kind (like kind asset), then no capital gain or loss is recognized, allowing the deferment of capital gains taxes that would otherwise have been due on the first sale. This law is defined under section 1031 of the Internal Revenue Code, 26 U.S.C. § 1031…..1031 Exchange

Here are some basic factors determining real estate and property tax valuations:

Market value. One definition of market value is “the amount a buyer would be willing to pay for a particular property.” Do not confuse the dollar amount your business is paying for property tax, because most businesses are assessed at a lower dollar value for property tax purposes…..Property Values

“……When you sell your primary residence, you can make up to $250,000 in profit if you’re a single owner, twice that if you’re married, and not owe any capital gains taxes…..

When the Taxpayer Relief Act of 1997 became law, the home-sale tax burden eased for millions of residential taxpayers. The rollover or once-in-a-lifetime options were replaced with the current per-sale exclusion amounts…. Capital Gains Taxes on home sales”

disclaimer: We are not tax experts, this is not tax advice, call your CPA or tax attorney first

Call Dick Watts Insurance today for a rental property insurance or Kentucky homeowners insurance quote 502-245-3625
Investment Property Like Kind Exchanges

Rental Property Insurance

Sales of existing homes fell in 38 states during the summer, led by steep declines in Nevada, Arizona, Florida and California, as the once-booming housing market showed further signs of a steep slowdown.

The National Association of Realtors reported that sales dipped to a seasonally adjusted annual rate of 6.27 million units nationwide, down by 12.7 percent from the same period a year ago.

The declines were the largest in once-booming areas of the country. Sales fell by 38 percent in Nevada, 36 percent in Arizona; 34.2 percent in Florida and 28.6 percent in California.

In all, nine states had sales declines in the summer of 20 percent or more compared to the third quarter of 2005.

The weakness in sales also affected prices with 45 metropolitan areas experiencing price declines, according to a separate survey the Realtors did of 148 metropolitan areas.

Home Sales Fall in Kentucky  

rental property insurance quote, rental property insurance ky
Why do you need Dwelling Fire insurance?
It is really about protecting your investment. As a landlord, you want insurance that is tailored specifically to protect your rental properties. Safeco Dwelling Fire insurance gives you choices when purchasing the coverage you need.

Safeco’s Dwelling Fire coverage is designed for landlords of tenant-occupied, 1 to 4 unit dwellings.

Rental Property Insurance KY

If buyers take heart from the decline in mortgage rates and step up to buy, the backlog of unsold homes could shrink quickly — especially with the production of new homes having abruptly fallen. That would put the market back on sound footing within a few months. On the other hand, if potential customers decide that an investment in housing is “dead money” because home prices are going to flatten or decline for an extended period, then no jiggering of interest rates is going to encourage them to part with their down payments…..Mortgage Rates
Rental Property Insurance Kentucky

Kentucky Real Estate Investors Association