BILL CHERRY'S GREATEST DALLAS PARK CITIES REAL ESTATE BLOG: February 2009

OBOMA ADMINISTRATION TAX REFORM ITEMIZED

PERSONAL NET INCOME OVER $250,000 PER YEAR

$338 billion - Bush tax cuts expire
$179 billlion - eliminate itemized deduction
$118 billion - capital gains tax hike

Total: $636 billion/10 years

BUSINESS TAX CALCULATIONS

$17 billion - Reinstate Superfund taxes
$24 billion - tax carried-interest as income
$5 billion - codify "economic substance doctrine"
$61 billion - repeal LIFO*
$210 billion - international enforcement, reform deferral, other tax reform
$4 billion - information reporting for rental payments
$5.3 billion - excise tax on Gulf of Mexico oil and gas
$3.4 billion - repeal expensing of tangible drilling costs
$62 million - repeal deduction for tertiary injectants
$49 million - repeal passive loss exception for working interests in oil and natural gas properties
$13 billion - repeal manufacturing tax deduction for oil and natural gas companies
$1 billion - increase to 7 years geological and geophysical amortization period for independent producers
$882 million - eliminate advanced earned income tax credit

Total: $353 billion/10 years

*Repealing LIFO ("last in, first out") accounting will seriously affect many businesses as they change over to FIFO ("first in, first out").

BILL CHERRY, REALTORS

DALLAS

Our 44th Year Selling America

214 503-8563

Copyright 2008 - William S. Cherry

 

1 comment • BILL CHERRY • February 27 2009 05:15AM

WHAT HAPPENS WHEN YOU MARRY A GIRL FROM THE LONE STAR STATE

My dear friend, Ruthie Lacquement, a Texas girl, sent this

Three men were sitting together bragging about how they had given their new wives duties.

The first man had married a woman from New York and had told her that she was going to do dishes and house cleaning. It took a couple days, but on the third day, he came home to a clean house and dishes washed and put away.

The second man had married a woman from California . He had given his wife orders that she was to do all the cleaning, dishes, and the cooking.  The first day he didn't see any results, but the next day, he saw it was better. By the third day, he saw his house was clean, the dishes were done, and there was a huge dinner on the table.

The third man had married a girl from Texas .  He told her that her duties were to keep the house cleaned, dishes washed, lawn mowed, laundry washed and hot meals on the table for every meal. He said the first day he didn't see anything, and the second day he didn't see anything, but by the third day some of the swelling had gone down and he could see a little out of his left eye, enough to fix himself a bite to eat and load the dishwasher.

 

 

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

214 503-8563

Now In Our 45th Year Selling America

9 comments • BILL CHERRY • February 25 2009 04:17PM

YOU CAN REST AT NIGHT KNOWING....

...that President Obama's stimulus plan will accomplish nothing of consequence other than putting the US under the extreme pressures of massive debt.

Armed with nothing more than a good college course in economics 101, common sense, preferably a combination of the two, you will know and understand that the only way to make a sincere dent in the problem would be to immediately lower federal and state income taxes.

With respect to banks that failed and are receiving governmental financial help, one of the most important criteria to receive that help should have been requiring breaking those banks into substantially smaller units.

 

9 comments • BILL CHERRY • February 19 2009 07:08AM

IMPORTANT TO BUY BEFORE THE REBATE BECOMES LAW.

Car dealers have trained and reinforced the public to think of only two things when buying a vehicle:

  • How much do I have to put down?
  • How much do I have to pay each month?

And also considered but more often than not immediately glossed over is, "How long is my loan for?"

Real estate people and their clients have all but ignored this important marketing lesson since the beginning of time. 

Consequently, the price of a home, more often than not, is what is the basis for negotiation, not the monthly payment.

Congress is currently considering giving those who buy homes in 2009 a rebate.  The smallest number being tossed around is $7,500 and the biggest is $15,000. 

The moment this legislation becomes law, the "net price paid" for homes being bought will increase.  And for most it will increase by an amount that is equal or greater than the rebate.

Those who have the opportunity to purchase a home would be wise to consider doing so BEFORE the rebate becomes an actuality. 

See your Realtor.

 

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

Our 44th Year Selling America!

214 503-8653

800 314-7110

6 comments • BILL CHERRY • February 08 2009 08:49PM

DALLAS MILLION BUCK HOMES SALES IN A SLUMP

DALLAS MILLION BUCK HOME SALES IN A SLUMP

Many areas of the Metroplex seem to be holding fairly steady in home sales, according to Bill Cherry, principal broker of Bill Cherry, Realtors.

However, Cherry says that's not true for luxury home sellers as many potential buyers seem to be taking a wait and see attitude.  That's leaving behind a two year supply.

Bill Cherry says that since December 1, 2008 only 37 homes have sold for more than a million bucks.  That leaves 626 listed and looking for buyers.  The most pricey one needs a home buyer with $17 million to spare.  

And then there's the noted Dallas builder who took the chance and apparently built one spec home too many.  It's been on the market for quite a while at more than $11 million with no takers.  

Bill Cherry has been selling luxury homes for 44 years.  He says if that's what you're looking for in Dallas, now's the time to negotiate a bargain.

FOR MORE INFORMATION:

Bill Cherry Realtors

214 503-8563

BILL CHERRY, REALTORS

DALLAS - HIGHLAND PARK

Our 44th Year Selling America!

214 503-8563

800 314-7110

Copyright 2009-William S. Cherry

4 comments • BILL CHERRY • February 01 2009 11:45PM