The tradition of May Day began as the month of April came to an end.
People would gather flowers, candy, goodies, and any other fun items to put in handmade baskets; then hang them on the doors of friends, neighbors, and loved ones on May 1st.
The tradition has since become less recognized, but can still be brought back as a fun way to engage kids in a Spring activity around your neighborhood!
Almost all energy companies encourage the use of smart technology in your home for energy efficiency. Some energy companies even give rebates on certain devices or offer discounts for customers that purchase a new device (for example a smart thermostat)!
If you have recently received a letter in the mail from the Assessors Office about your 2018 Home Taxes and have any questions or concerns, Motenia would love to talk to you!
Moe has experience with negotiating tax reductions, further explanation of the mortgage company monthly escrow process, questions about insurance claims in relation to an increase in your taxes, as well as general assessment knowledge in regards to your latest evaluation.
Click Here for an informative video on your latest Home Tax Assessment
Contact Motenia today for any further questions or help on this!
New to the state of Colorado, potential home buyers can set up a First-Time Home Buyer Savings Account (FHSA). Any Coloradan with money currently invested is able to reserve it as an FHSA towards their first purchase of a home in the future. Whether it be a mutual fund, CD, stocks or bonds, money markets, insurance, or just a savings account; you are now able to file a form with your taxes in order to preserve the money in the chosen account free of state tax, capital gain, and interest.
The only catch is you must be a first time home buyer. If you have purchased commercial property or land that does not count as the sale of residential space, nor does inheritance.
You can deposit up to a total of $50,000 in principal, and from there the account may grow in value up to $150,000. There is no time limit on how long the account can exist, however there is an annual contribution cap of $14,000 or $28,000 if filing jointly. The FHSA is valid only for the first time purchase of a home in the state of Colorado. If the FHSA money does not go towards an eligible cost, you will have to pay each year of taxes plus a 5% penalty on the amount of money you accumulated.
When the time comes, one may use the FHSA funds to pay for anything considered an “eligible cost” related to closing a home. These “eligible costs” include closing costs, inspections, lender fees, and anything included on the settlement statement. The funds can be dedicated to another person, such as a niece or nephew, child or grandchild, or even a friend. They must use it for an eligible cost and qualify as a first time home buyer. After the money is used, you file an additional form to the Department of Revenue that states the funds were used towards an eligible cost.
This is an amazing opportunity for the upcoming generation whom the majority will soon qualify as first time home buyers starting with the new and useful FHSA investment resource at their disposal.
Despite being the “slow season,” the housing market continues to remain strong. November became the sixth month of 2017 to post an increase in year-over-year home sales. This bucks the trend of home prices increasing and inventory declines, according to the RE/MAX National Housing Report. You can read the full report here.
If you’re thinking of buying or selling in 2018, give me a call. I’d be happy to help you assess our local market and put together a strategy for next year.
