Abby Schreiber Joins Coldwell Banker Platinum Partners’ Sales Team in Beaufort

Abby Schreiber Joins Coldwell Banker Platinum Partners’ Sales Team

Abby Schreiber has joined Coldwell Banker Platinum Partners as a Realtor for the Company’s Beaufort office, located at 1211 Boundary Street.  Abby chose Coldwell Banker Platinum Partners because, “…the presence in the local market and tools of the international company are unrivaled.”

Abby Schreiber
Realtor
Office Phone: (843) 986-2444
Cell Phone: (843) 422-6730
Fax: (843) 986-2445

Abby, who also holds her BS in Industrial Engineering from SUNY College, NY, is an experienced REALTOR who specializes in the Beaufort & Hilton Head Areas.  “Let me take the stress out of buying and selling!” says Abby.  She is also a member of the Beaufort County Association of REALTORS and the Hilton Head Multiple Listing Service; and enjoys volunteering as a docent at Davenport House Museum in Savannah. 

Abby Schreiber may be reached at 843.422.6730 or via email at abby.schreiber@coldwellbanker.com.

For more information, please contact me at Announcements@mycbpp.com or toll free at 800.505.8111. Coldwell Banker Platinum Partners Real Estate Service in Georgia and South Carolina.

FHFA Issues Proposed Rule on Fannie Mae and Freddie Mac Duty to Serve Underserved Markets:: Featured Agent Jenny Hearn

Jenny Hearn
Sales Associate, GRI, CSP
Office Phone: (912) 330-8330
Home Phone: (912) 748-6636
Cell Phone: (912) 658-1608
Fax: (912) 748-0086

Pooler Office
130 Canal St. Suite 504
Savannah, GA 31322

FHFA Issues Proposed Rule on Fannie Mae and Freddie Mac Duty to Serve Underserved Markets

The Federal Housing Finance Agency (FHFA) is seeking comments on a proposed rule to implement the Duty to Serve provisions of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, as amended by the Housing and Economic Recovery Act of 2008.

This statute requires Fannie Mae and Freddie Mac (the Enterprises) to serve three specified underserved markets:  manufactured housing, affordable housing preservation and rural markets.  The proposed rule would require the Enterprises to adopt plans to improve the distribution and availability of mortgage financing in a safe and sound manner for residential properties that serve very low-, low-, and moderate-income families in the three specified underserved markets.  

The proposed rule would provide Duty to Serve credit for eligible Enterprise activities that facilitate a secondary market for mortgages on residential properties in the specified underserved markets.  It would also establish a method for evaluating and rating the Enterprises' performance each year, on which FHFA would report annually to Congress. 

Each Enterprise would be required to submit to FHFA an Underserved Markets Plan covering a three-year period that describes the activities and objectives it will undertake to meet its Duty to Serve. 

• For the manufactured housing market, Duty to Serve credit would be provided for eligible Enterprise activities related to manufactured homes financed as real property and blanket loans for certain categories of manufactured housing communities. 
• For the affordable housing preservation market, Duty to Serve credit would be provided for eligible Enterprise activities related to preserving the affordability of housing for renters and homebuyers, including activities under the programs specified in the Safety and Soundness Act.  Duty to Serve credit would also be provided for activities related to existing small multifamily rental properties, energy efficiency improvements on existing multifamily rental and single-family first-lien properties, shared equity homeownership programs and the U.S. Department of Housing and Urban Development's Choice Neighborhoods Initiative and Rental Assistance Demonstration program.   
• For the rural market, Duty to Serve credit would be provided for eligible Enterprise activities related to housing in rural areas, including activities serving the following high-needs rural regions and populations:  Middle Appalachia, the Lower Mississippi Delta, colonias, members of a Native American tribe located in a Native American area, and migrant and seasonal agricultural workers.FHFA would provide an Enterprise Duty to Serve credit for additional eligible activities identified by an Enterprise in its Underserved Markets Plan for the specific underserved market.  Qualifying activities that promote residential economic diversity in one or more underserved markets would also receive Duty to Serve credit. 

FHFA invites interested parties to submit comments on all aspects of the proposed rule within 90 days of publication in the Federal Register via FHFA.gov.  The public comment period commences and public comments may be submitted upon publication of the proposed rule in the Federal Register.

For more information, click here.

For more information, please contact me at Announcements@mycbpp.com or toll free at 800.505.8111 .

Reprinted with permission from RISMedia. ©2015. All rights reserved.

For more information, please contact me at Announcements@mycbpp.com or toll free at 800.505.8111. Coldwell Banker Platinum Partners Real Estate Service in Georgia and South Carolina.

Understanding the Tax Advantages of Real Estate IRAs:: featured agent - Susan Owens Susan L Owens Sales Associate, Realtor Office Phone: (912) 222-4674 Home Phone: (912) 882-6268 Voice-mail: (912) 222-4674 Cell Phone: (912) 222-4674 Fax: (912) 267-0084 Brunswick Office 47 Professional Drive Brunswick, GA 31520

Understanding the Tax Advantages of Real Estate IRAs

Jason Craig, President, The Entrust Group, recently sat down with RISMedia for a Q&A to shed some light on the tax advantages of Real Estate IRAs.

RISMedia: Are the expenses for a real estate IRA investment property a tax write-off?

Jason Craig: What happens in an IRA stays in the IRA. A traditional IRA that invests in real estate and has expenses is not deductible to the IRA holder since the IRA is the one holding the investment and not the IRA holder personally. On the other hand, IRA-owned real estate that has rental income is not taxable until the income is distributed from the IRA. Sale of real estate owned outright by the IRA is also not subject to capital gains when the real estate is sold while under the IRA. This may provide more capital to purchase more properties since the taxation of the earnings is tax-deferred.  If the IRA is a Roth IRA, the rental income and gains on the sale of the real estate is not only tax-deferred but also may be distributed tax-free in the future. An investor must decide whether letting go of the expense deduction by owning the property under an IRA is a better financial proposition than owning the real estate personally.

R: How are property taxes paid for a property in an IRA?

JC: Since the IRA owns the investment, all expenses related to the real state asset must be paid from the IRA and not the IRA holder personally. If the IRA lacks liquidity, additional funds may be added via annual contributions or transfers from other IRAs. Before purchasing real estate under an IRA, the IRA holder must pay careful attention on how real estate expenses will be paid from IRA funds. Factors such as real estate income and available cash in the IRA must be put in consideration and compared to the liabilities of the real estate such as real estate taxes, maintenance and other services.

R: How can real estate professionals assist their real estate IRA clients (and potential clients) during tax time?

Susan L Owens
Sales Associate, Realtor
Office Phone: (912) 222-4674
Home Phone: (912) 882-6268
Voice-mail: (912) 222-4674
Cell Phone: (912) 222-4674
Fax: (912) 267-0084

Brunswick Office
47 Professional Drive
Brunswick, GA 31520

JC: Every year the IRA administrator must report the fair market value of the IRA to the IRS. If the agent is the IRA holder he/she must assist the IRA administrator to obtain the correct fair market value (FMV) of the investment for the administrator to satisfy its reporting obligation. Although an appraisal is the ultimate method getting an accurate fair market value other methods are used as best practice. However, ultimately if being used for distributions or RMD calculations, it is conservatively recommended to acquire a real estate appraisal.

R: Why is January through April the most active time for Real Estate IRA investors?

JC: We’ve experienced that during the first few months of the year people are focused on tax deadlines and how to take advantage of tax write-offs.  This is the time when people open a new IRA or contribute to an IRA to get the tax benefit.  For IRA investors interested in real estate investments, they will focus on opening or transferring money to a self-directed IRA with the intention to purchase real estate.  At this point most clients have already identified either investment property type or actual property.  In fact, we do more real estate purchases in the beginning of the year than any other season.   

Find out how you can generate more referrals, leads, and repeat business with your free download of How to Help Your Clients Invest in Real Estate Tax-Free.

For more information, visit www.theentrustgroup.com.

For more information, please contact me at Announcements@mycbpp.com or toll free at 800.505.8111 . For more information, please contact me at Announcements@mycbpp.com or toll free at 800.505.8111. Coldwell Banker Platinum Partners Real Estate Service in Georgia and South Carolina.

Rene’ Garland Joins Coldwell Banker Platinum Partners’ Sales Team in Kingsland

Rene’ Garland Joins Coldwell Banker Platinum Partners’ Sales Team in Kingsland

Coldwell Banker Platinum Partners warmly welcomes Rene’ Garland as a REALTOR for the company’s Kingsland office, located at 1951 Commerce Drive, Suite A.  Rene’ focuses on land, farms and residential in Waverly, White Oak,

Rene Garland
Agent, Realtor
Office Phone: (912) 882-5450
Cell Phone: (912) 674-4647

Woodbine, Kingsland, and St. Mary’s, GA; the Counties of Brantley, Camden, Charlton, and Glynn.  

Rene’ has been a licensed REALTOR for the past 1.5 years.   She is a native to the area and enjoys being active in the community.  She volunteers in Waverly, GA on the Board to “Make a Difference Fishing for Special Needs Children”, she also participates in the local school PTO, various equine clubs and other community associations.  She is also a member of NAR, Camden/Charlton Board of Realtors, GAR, ABR, ePRO and SRES.  “I want my clients to know that I am 100% committed to providing superior service and thereby earning my client’s loyalty for life!”  She chose Coldwell Banker Platinum Partners because, “…the company offers opportunities for growth in both education and business … the Coldwell Banker Platinum Partners team is EXCEPTIONAL!”

  Rene’ may be reached at 912-674-4647 or via email at rene.garland@coldwellbanker.com.

For more information, please contact me at Announcements@mycbpp.com or toll free at 800.505.8111. Coldwell Banker Platinum Partners Real Estate Service in Georgia and South Carolina.

Dean M Coon Joins Coldwell Banker Platinum Partners’ Sales Team in Savannah

Dean M Coon Joins Coldwell Banker Platinum Partners’ Sales Team in Savannah

Dean M Coon has joined Coldwell Banker Platinum Partners as a REALTOR for the company’s Midtown Savannah office, located at 6349 Abercorn Street. 

Dean Coon
Office Phone: (912) 352-1222
Cell Phone: (912) 921-9260
Fax: (912) 356-3622

Dean holds his Juris Doctorate Degree from University of Akron School of Law in Akron, Ohio.  He also has a BS in Business Administration from University of Vermont, Burlington, VT.  He was a practicing attorney for over 30 years at his own law office (Dean M Coon Law Office) in Saratoga Springs, NY.  As a REALTOR, he is excited to help people enjoy easy real estate experiences.

Dean is a member of Ascension Lutheran Church, he volunteers as a basketball and volleyball coach at Savannah Country Day School and is a member of the Lions Club.  He looks forward to working at Coldwell Banker Platinum Partners because,”…the company came highly recommended and I truly felt at home with Connie Ray and Tom Woiwode!”

Dean M Coon can be reached at 912-921-9260 or  dean.coon@coldwellbanker.com.

For more information, please contact me at Announcements@mycbpp.com or toll free at 800.505.8111. Coldwell Banker Platinum Partners Real Estate Service in Georgia and South Carolina.