Work and Play

HollaDAY!!

2010-07-06T08:50:00.002-05:00

It actually felt like the 4th this weekend since The Taste only blew off fire works once instead of the usual every night.

I guess the Taste did not go over that well considering it cost $20-30 bucks to get in. Sorry but Atmosphere is not the kind of headliner you pay that much to see.

Breakfast & Bangers 6/19

2010-06-22T15:01:00.009-05:00

The first Breakfast and bangers went down Saturday at Erics house. Josh showed up for breakfast with no board. Luckily eric had an old Danny Sargent setup. Forgot to take photos of the breakfast. Pretty good though, bacon-egg-cheese-on a english muffin. Umm umm.

me-halfcab, Luke-FS ollie, Eric-Pivot Fakie, Josh-FS rock, Paul-nollie lipslide

Senate approves home tax credit extension

2010-06-17T16:40:00.000-05:00

http://http://news.yahoo.com/s/ap/20100616/ap_on_bi_ge/us_home_tax_credit

WOW!! Long over due post.

2010-05-28T00:47:00.005-05:00

Here are some photos from past week or so from a couple nights camp out at Jay Cooke State park.The roster: Katie,Mom,Phil,Lucky,Birdie,Rocky and I. Camping is by far my favorite thing to do next to skateboarding. Where else do you go and don't care if you've NOT showered for 2-3 days? More on the way....

Taxing the Rich

2010-04-27T09:08:00.001-05:00

The Truth About the 3.8% Tax on All Home Sales
by Christopher Galler
Chief Operating Officer
We're being flooded by calls and emails about whether the new Health Care Bill has a federal tax on the proceeds from the sale of your home. The statement goes something like this:

UNDER THE NEW HEALTH CARE BILL - DID YOU KNOW THAT ALL REAL ESTATE TRANSACTIONS ARE SUBJECT TO A 3.8% "SALES TAX"?
YOU CAN THANK NANCY, HARRY & BARACK (AND YOUR LOCAL CONGRESSMAN) FOR THIS ONE.
IF YOU SELL YOUR $400,000 HOME, THIS WILL BE A $15,200 TAX.
As with most things found circulating through the "blog-o-sphere" of our partisan world, this is not entirely true. It is also not entirely false. The new Health Care Bill does include a new 3.8% tax on SOME high income earners ($200,000 single/$250,000 married) after the current capital gains exclusion of $250,000 for singles/$500,000 for married. You can review an accurate portrayl of the new tax at: http://www.factcheck.org/2010/04/a-38-percent-sales-tax-on-your-home/
Of real interest to REALTORS® is the willingness of government to look at housing benefits for tax revenue. In 2009, the Minnesota House of Representatives passed a bill calling for a significant reduction and redistribution of the Mortgage Interest Deduction and elminition of the property tax deduction in Minnesota. This bill was not accepted by the Senate, but it did pass the MN House of Representatives. President Obama's Budget (not yet passed into law) includes a 5-year reduction in the Mortgage Interest Deduction at the federal level. And, as we noted above, there is an increase in the taxes paid for some homeowners in order to help fund the Health Care Bill.
As demographics change and government looks for items to tax, real estate is no longer viewed as an untouchable cornerstone of the American Dream. Instead, government at the state and federal level are increasingly willing to chip away at real estate tax benefits. This strategy slowly erodes the benefits in a way that many don't realize until it is too late to stop.

New shop decks at Familia

2010-04-05T16:00:00.003-05:00

I checked out the new shop boards today. Pretty nice. These little buggers come equiped with a tooth brush for your perly whites!!

2010-03-22T13:54:00.002-05:00

Just another reason to love the new camera. Rada at Hiawatha...frontside hurricane..

Those Who Wait Will Pay Thousands More This Spring

2010-03-18T10:33:00.001-05:00

Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority (FHA).

Coming just weeks before the April 30 deadline for the Home Buyer Tax Credit and just days after the March 31 expiration of the Federal Reserve Board's mortgage backed securities purchase program (which has kept home loan rates artificially low for over a year), these FHA changes make it even more important to act now to save big.

Here are a few reasons why:

On April 5th, the cost of required up-front mortgage insurance for loans guaranteed by the FHA will increase from 1.75% to 2.25%. For a borrower purchasing a $200,000 home with a $7,000 down payment, the up-front mortgage insurance will increase by $965. Up-front mortgage insurance is typically financed in the final loan amount so the impact to a monthly payment will be minimal but overall, the increase is still borne by the borrower both upfront and monthly.

It is important to note that in order to be eligible for the lower cost up-front mortgage insurance, a lender has to order a case number from the FHA before April 5th. A case number can only be generated for loan applications where a property is involved and a fully executed purchase contract exists. Home buyers who have been pre-approved but are not under contract will not be eligible for the reduced premium effective April 5th.

Later this spring, the amount of money that a seller can return to the buyer from their sale proceeds will be reduced from 6% to 3%. The reduction in these "seller concessions" can increase the amount of cash a buyer will be required to pay at closing by $6,000 for a home purchase of $200,000.

Spring Shredding 3/14/10

2010-03-15T23:25:00.004-05:00

Finally!! A day of skating downtown MPLS with Rob Sissi and Seth McCallum. Perfect weather. Photos taken by Seth. Thanks dude!

Jake Keeler at Familia Skateshop

2010-03-13T23:34:00.011-06:00

Just got home from checking out some of Jake Keeler's art at the shop. The usual suspects were there to have a beer and hang with old friends. I did find out that the next"TRUE HEADS" series are due out May 7th. The featured riders are TOP SECRET.

Think Spring

2010-03-13T09:25:00.001-06:00

Don't forget to spring ahead tonight!!!

Todays Mortgage Interest rates

2010-03-12T14:34:00.004-06:00

Well the rates have been pretty stable. I'm wondering if they;ll go up after the Home buying tax credit ends.
https://www.wellsfargo.com/mortgage/rates/

Here We Go Magic

2010-03-12T01:05:00.007-06:00

This is a band that randomly came to light. How I heard these guys for the first time is not the story...fact is....they rock. The lead behind all of this is Luke Temple. Self titled album..Her We Go Magic

AAhh.... the gateway to my neighborhood

2010-03-11T02:06:00.001-06:00

Here's to my first post! ya,ya...not too exciting. This is just the beginning.