Real Estate Information

Bryan Bomba Group's Blog

Bryan Bomba

Blog

Displaying blog entries 1-10 of 826

The Appeal Of The Burns Field Location In Hinsdale IL

by Bryan Bomba

 

It's difficult to find a block in Hinsdale IL that is lower traffic and quieter than this one.  Idyllically set on a very quiet block just steps from Burns Field, one of the premier parks in Hinsdale IL.  The "walk to" benefit of this home extends to the Monroe Elementary school and downtown Hinsdale as well. The train user's dream about living on a block this close to downtown Hinsdale and the Metra commuter train. 

Take a peek inside 123 N. Clay Hinsdale IL 60521 and you will find a very functional family home--Updated eat-in kitchen, First floor family room with fireplace, First floor office. Even a nicely finished lower level. It's truly in move-in condition. 

Notice the extremely spacious yard--both the width and depth exceed the local standard. And, this means ample recreation space and privacy for your family. Lots this wide are uncommon and sought after in Hinsdale. 

If you have an interest in knowing more, just ask. I can be reached at Bryan@BryanBomba.com.

 

13 (Somewhat Unorthodox) Tips To Survive The Real Estate Market

by Bryan Bomba

Fortune magazine has just revealed 13 tips to survive the real estate market. They're not your typical buff and fluff tips. To read the Fortune article, click here

If you have questions or comments about this piece, you can post them below. 

Get Customized Food Bars Built To Your Liking

by Bryan Bomba

ElementBars.com is a Chicago-based company which custom builds whole food bars based on your specific preferences. Just go to their website and you can make any type of bar that you like.  Also, they allow you to create your own custom granola as well.

This is an excellent gift item as it's extremely personalized (whether you create the bars for the gift recipient or you allow them to create their own). Element Bars allows you to name the product as well. For example, to keep my daughter (a vegetarian) away from my protein bars, I simply have them labeled as "Bryan's Beef Sticks" even though they contain no beef. 

What Your Home is/is not Worth:

by Bryan Bomba

The Market Value of Your Home is NOT:

  1. What you have in it

  2. What you need out of it

  3. What you want

  4. What it is appraised for

  5. What your neighbor’s house sold for

  6. What the tax office says it is worth

  7. How much it is insured for

  8. Based on memories and treasures

  9. Based on prices of homes where you are moving

 

The True Market Value of Your Home is what a Buyer is willing to pay:

  1. Based on today’s market

  2. Based on today’s competition

  3. Based on today’s financing

  4. Based on today’s economic condition

  5. Based on the buyer’s perception of the condition

  6. Based on location

  7. Based on normal marketing time

  8. Based on showing accessibility

Best Luxury Ski Resorts

by Bryan Bomba


 

The luxury arm of Coldwell Banker, our Previews division, has selected what they consider to be the best ski resorts. Take a look at the list and let me know what you think:

http://www.previewsinsideout.com/2014/12/editors-picks-best-luxury-ski-resorts-2/

If You're In The Mood For Tiny Donuts...

by Bryan Bomba

Tiny donuts made while you wait. Strongly recommended that you eat them while hot. Great flavors (nutella, cinnamon roll, vanilla, Reese's cup, coconut)...about 11 flavors in all--$5/dozen. This place is hard-to-find, but it's a winner.  I just wish they opened before 730 am. bb's donuts in Western Springs.

Hinsdale's Annual Christmas Walk Is This Week

by Bryan Bomba

For the 49th year, Hinsdale IL will be holding its Christmas Walk in downtown Hinsdale. On Friday December 5 from 4pm to 8pm, there will be a tree-lighting event, entertainment, and give aways from the retailers, who will be open late that evening. It's a wonderful family event, particularly with small kids. If you plan on dining in downtown Hinsdale, make your reservations early. 

Don't Pay Full Retail For Fireplace Accessories

by Bryan Bomba

 

As I was shopping for a custom fireplace screen (standard sized ones would not fit), I could not help from feeling the feeling of being gouged by the prices of fireplace accessories. I realize it's now "on" season and all, but this felt like the kind of rip off that you usually can only find at a place like Disney World ($6 bottles of water, etc.)

In any case, I came across a true find. I was being quoted anywhere from $500 to $1,000 for a fairly basic fireplace screen. And then I found Aspen Industries in Bensenville where I had one made for under $150 in less than a week. 

They make everything from fireplace screens to hinged domes for fire pits. 

When you pick up your purchase, make sure it's around lunch time so you can stop off at Asti Italian Deli (you'll avoid the industrial park traffic if you travel at midday as well)


The Excitement Of An Epoxy-coated Garage Floor

by Bryan Bomba

Is it wrong for a man to be unnaturally enamored by an epoxy floor coating? I just had Floorguard epoxy coat my garage floor. It's the 3rd garage they did for me and it's one of those things I just don't want to live without. Absolutely no exposed concrete. Easy clean up. Cost is about $4-$5/SF. Places like White Rabbit charge $6/SF.

Significant Tax Benefits Of Buying A Home

by Bryan Bomba

When considering purchasing a larger home, it is prudent to take into account the tax benefits that may be available to you. 

INTEREST

It stands to reason that if you are buying a larger home, your mortgage loan may also be larger. Interest for a mortgage loan is fully deductible up to $1 million.  Interest tax breaks don’t end with your home’s first mortgage either.   Any interest paid on a home equity line of $100,000 or less is deductible.

If you are considering a second home, consider that the interest you pay for that mortgage is also fully deductible.  You can even rent it out for part of the year and still deduct the mortgage interest you pay for that property.  However, you must vacation at least 14 days at your second property, or more than 10% of the number of days that you do rent it out, whichever is less.  Otherwise, the IRS could consider the property a rental property, and you may not be able to take the interest as a taxable deduction.

REAL ESTATE TAXES

All real estate taxes paid by you for your primary residence within a calendar year are tax deductible from your taxable income.  Taxes are typically prorated as of the day of closing, so you are also able to deduct any taxes that were paid by you as of that date.  Any real estate taxes you pay for a second home or a rental property are also deductible.

POINTS

A point is a fee you pay a lender in order to get a better interest rate.  Typically a point is 1% of the loan amount.  These, too, are fully tax deductible the year you pay them if the loan is used to purchase or build your main home.

These are a few illustrations of tax benefits that can be considered when purchasing a new or larger home.  Consult with an accountant for more!  If you do not have a good one, ask me--I'll be happy to refer one to you.

Displaying blog entries 1-10 of 826

Syndication

Categories

Archives