Buyer’s Agent Rebates Are Not Taxable
It struck me that the buyer’s agent rebates I am seeking may be taxable income. That would stink. But it seems that Redfin, another company that does rebates in selected areas, received a private letter ruling from the IRS that states that such rebates are not considered income. 1099s are not submitted, and nothing is reported to the IRS.
Japan’s Real Estate Bubble
Got Bubble? I stumbled upon this article comparing the Japanese real estate bubble with the situation in the US. Did you know that residential real estate in Tokyo dropped for 17 straight years? Definitely will be reading more about this.
Pay Your Mortgage On Credit Cards
It had to happen one day. Although there are some hoops to jump through (you can’t be sub-prime) and it’s only available through specific lenders, American Express is letting people pay their mortgages with a credit card. There’s a $395 initial fee paid at closing, but the potential rewards might let you break even after only a few years.