The blogspheare has just expanded in Tracy by two

The Tracy Press, our local newspaper has launched two blogs that are new to me but about a month old. The blogs belong to Glenn Moore and Jon Mendelson.






Tracy's newest blog #1:Snapshots

I see an exciting future for photography in the coming years with podcast,
photocasts and slideshows as the way to bring images and stories to more readers
in an exciting digital format. I look forward to entering a brave new world of
photography in the digital era and hope you will follow along.

Glen Moorehas some great pictures as well as interesting posts. This blog is going right on my homepage feed! I really like Cheerio Test, which discribes the process in which they choose pictures that go into the newspaper.

Tracy's newest blog #2: Another round of Second Thoughts

Started Tuesday, December 5, Jon is a copy editor, page designer and columnist for the Press. In his first post, Finally: Plugged into the blogsphere, he describes why he is blogging:

The world of blogs is more true to the concept of freedom of expression. The
lack of general checks and balances is why I am trying my hand here (not to
mention that sometimes I get an idea that isn't worth 600-plus words of print in
a newspaper). Of course, with no checks and balances, there's no guarantee that
the content being published is anywhere close to sensible or balanced, let alone
accurate.So I invite you to be the balance. I'll have my tangents. You'll
disagree with me. I'll disagree with you. Hopefully, we'll both learn
something.So write in. I welcome it. Without response, it'll be pretty lonely
out here in the blogosphere.

I think that's pretty right on and brave of him. Afterall sometimes inviting comments also invites

I have a feeling that once both of these blogs get rolling they will gather a huge local audience. Glenn takes good pictures and it is interesting to see what may not have gotten into the press that day. I know the more blogs we get as a town will help people on the internet to get a better idea of what Tracy is all about as well as bring us all closer together. The internet can be a global as well as a local experience.

Afterthought: Maybe all of us local bloggers should meet for coffee one day like they do in Seattle and S.F.

;-)

New PMI Tax Deduction Will Make Housing More Affordable Next Year

News from the Mortgage Front:

Premiums on private and government mortgage insurance will become tax-deductible next year for some borrowers for the first time under legislation passed by Congress. The tax breaks will take effect for new home loans next year(2007). Borrowers closing loans to purchase homes in 2007 who have annual household incomes of 100K or less will be able to write off 100% of their mortgage insurance premiums on their federal tax return.

Bottom line as I understand it, private mortgage insurance costs range from $50-$150/mo, or a $600-1800 tax write off per family per year.

From the Washingtonpost.com

The bill (HR 1336) would affect the mortgages of more than 12 million American homeowners and reverse a decades-old Internal Revenue Service prohibition against write-offs of mortgage insurance payments.

Borrowers with incomes above $100,000 would lose 10 percent of their deduction for each $1,000 that their income exceeds $100,000. Married homeowners filing separately would have a $50,000 income threshold and would lose 10 percent of their deduction for each $500 their income exceeded $50,000.

This legislation is slated to help the first time buyer and make housing more affordable for everyone. Traditionally to avoid paying private mortgage insurance one would have to take out two loans, one loan of 80% and one of 20% or 100% financing. Now one would have the option of getting one for 100% and paying mortgage insurance which you could take as a write off at the end of the year. Having one loan instead of two should give you a lower overall interest rate and the tax write-off for the insurance makes real sense. I think this legistlation is a small victory for affordable housing, but a victory none-the-less.

From The Buffalo News:

The tax breaks, which will take effect for new loans next year, will result in average tax savings of between $300 and $350, according to Howard Glaser, a Washington lobbyist and former senior official in the Department of Housing and Urban Development, which oversees the FHA.

Directly From MICA(Mortgage Insurance Companies of America press release from December 9th)

“Making the cost of mortgage insurance tax deductible helps those who need it most: low- and moderate-income Americans, primarily first-time home buyers, who are financially responsible but simply don’t have the means to amass a 20 percent down payment, ” said Steve Smith, Chief Executive Officer of The PMI Group, Inc. and President of Mortgage Insurance Companies of America (MICA). “We congratulate Congress for taking this important step to address a key barrier to homeownership that so many Americans face. ”

My lender is really excited about this and his company, National City Mortgage is telling me of new inovative programs they are comming up with to take advantage of this new law. I will showcase on my blog in the future.


Brian Barringer
209.613.8945

800.894.7282
Brian@Tracyhomes.com

Made by Brian W. Barringer in 2006 for

http://www.tracyhomes.com/ and www.tracyrealestate.blogspot.com

Tags:
Mortgage, mortgage insurance, private, government, tax break, home loans, federal tax return, HR 1336, legislation, PMI, MICA, National City Mortgage, Century 21 M&M, Barringer, Brian

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Lowest priced home in Jefferson School District.......Open House this Saterday 12-4pm

Dear Friends & Clients,

I have to let you know about this home before its too late. This house is now priced at 449,777. Making this is the very lowest home in all the sought after Jefferson School District. As you can see from the pictures this home is clean and has plenty of very nice upgrades. But you are not only buying a home you are buying a neighborhood because right down the street from this home is a brand new K-8 school and its also around the block from a huge park which boosts a skate park, playgrounds, basketball courts and even a full outdoor hockey rink.

Now is time of the year to move and take full advantage of this Buyers Market!!!!!

If this home is not sold by this Saterday we will be having an open house from 12pm-4pm. Refreshments will be served so come on by.

Map to property

With Highest Regards,

Brian Barringer

209.613.8945

.

Here is a link to all the details and pictures of all homes in the Jefferson School district under $500,000

Give me a call I would be happy to arrange a showing for this house or any home you see.

Brian Barringer/Buyers Agent

209.613.8945

800.894.7282

Brian@Tracyhomes.com

3 Bedrooms
2.5 Bathrooms
1,691 square feet of living space
4,356 square foot lot
built in 2001

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Vintage at Edgewood Estates

Child safe cul-de-sac location

Jefferson School District

Large kitchen with vinyl floors, tile counters, breakfast bar

Gas range, microwave, dishwasher, pantry

Duel ane windows, 5 year new energy efficient home

Great room with wood burning fireplace and gas starter

Upstairs bedrooms have mirrored closet doors

2” blinds throughout

2 car garage

Master bedroom with master bath, walk in closet, 2 sinks, jetted tub and shower.

Give us a call for a showing today!

(209)833-7777
(800)894-7282

Tracy California - A full service
Real Estate Company
CENTURY 21 / M&M and Associates

Thank you for visiting our home!
Barringer's Real Estate

Most of the listing I feature on our blog are not our listing, they are just for sale with other listing agents that are listed on the public MLS. I am a buyers agent and I can represent your interests in purchasing any home. Because putting this blog together is a very time consuming process I like to present only the best deals on the market to my clients. That's why I am always happy to promote one of our own Barringer Team listings. BTW: Email me if you have a good deal in the Tracy area.

Made by Brian W. Barringer in 2006 for
http://www.tracyhomes.com/ and www.tracyrealestate.blogspot.com