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It seems that condo hotels are a lousy investment, at least for now, for those people who bought at the top of the real estate bubble. Hotels are a risky business because occupancy rates depends on the economy, weather, and competition. Condo hotels allowed developers to transfer some of their risk to investors of the condo units, which may have caused the developers to build more than they would have otherwise, adding too much capacity for an area.
Some investors are saying that the hotel keeps more of the rental money than they should. Other investors are arguing that since condo hotels were primarily an investment, they should have been registered with the SEC as securities, which would make it easier for investors to recoup some of their losses. If the investors could prove that the condo hotels should have been registered as securities, then they would be entitled to get their money back without having to prove fraud or misrepresentation. However, most developers did not promote the condo hotels as an investment, thereby obviating the need for SEC registration, and defeating those investors who are suing to assert otherwise. Some are complaining to the SEC, but the SEC won't take any action unless the developer enticed buyers with projected incomes or occupancy rates.
Condo-Hotel Buyers See Investments Sour
Part of the cause of the real estate bubble and the subprime debacle has been overinflated home appraisals. Many lenders were using their own appraisal units, or subsidiaries or affiliated companies, to appraise properties at higher-than-market values to get loans approved. In the past, lenders would have been concerned about the risks, but, nowadays, with most mortgages being resold as mortgage-backed securities, the risks were being transferred to investors, which lessened the lenders’ concern about risks and increased their focus on profits.
Starting in January, 2009, Fannie Mae and Freddie Mac, the largest buyers of mortgages that are securitized into mortgage-backed securities, will require that lenders use independent real estate appraisers. Also, real estate agents and mortgage brokers will not be allowed to select the appraiser.
Fannie Mae and Freddie Mac are creating an Independent Valuation Protection Institute that will promulgate rules to enforce independent and reliable appraisals, and will accept complaints from both consumers and appraisers as a way to monitor enforcement of the rules by the Office of Federal Housing Enterprise Oversight, the government regulator that oversees Fannie Mae and Freddie Mac.
Home Appraisal Standards Stiffened
A new law has been passed that for any renegotiated mortgage or for a foreclosure, any forgiven debt will not be taxable. The law applies to transactions that take place from January 1, 2007 to December 31, 2009. This law applies only to recourse loans—there is no forgiven debt for nonrecourse loans, because the lender must settle for what the property sells for, and cannot go after the borrower for any deficiency.
However, any forgiven debt, also known as cancellation of debt income, will reduce the homeowner’s basis in the property, which will add to any gain by the amount that is forgiven, when the home is sold. The borrower will still have to pay taxes on this capital gain, but it will be at the lower capital gains rate of 5% or 15%, depending on the borrower’s income rather than the usually higher ordinary tax rate on ordinary income that applied to cancelled debt.
There are some limitations to the tax forgiveness. There is a $2 million dollar limit of COD income that can be forgiven, and the law applies only to a principal residence—not vacation homes or investment properties. The exclusion also does not apply if the homeowner refinanced the mortgage, but the money was not used to improve the property.
Although a homeowner does not receive any money when a lender forecloses on the home, the IRS still treats it as a sale for tax purposes, and the homeowner must pay a capital gains tax on this so-called phantom income, if the sale price is greater than the homeowner's basis in the property. However, if the homeowner lived at least 2 years in the previous 5 years in the home, then he will be eligible for the home sale exclusion rule that exempts the 1st $250,000 of gains ($500,000 for a joint filers) from taxes, which also applies to the phantom income of a foreclosure. A borrower can also avoid paying taxes on the gain if he is insolvent—unable to pay his bills, which generally applies to most people whose homes are foreclosed.
A borrower has a mortgage of $120,000, an adjusted basis in the property of $40,000, and an income that qualifies him for the 5% capital gains rate. Later, on January 3, 2007, the property is foreclosed by the lender. The fair market value of the home is $100,000.
The lender sells the property for $100,000. Because it is a nonrecourse loan, the lender is only entitled to the sale price. The lender has no legal right to get the deficiency of $20,000 from the borrower. But the borrower must pay a capital gains tax of 5% on the $60,000 profit—the difference between the fair market value of the home and the borrower's basis—which equals $3,000, even though the borrower does not receive any of the money.
With a recourse loan, the lender is entitled to the $20,000 deficiency from the borrower, but decides to forgive the debt, since the borrower has no assets to pay off the deficiency. Previously, the borrower would have had to pay ordinary income tax on this cancellation of debt income of $20,000 in addition to the capital gains of the foreclosure, even though the borrower does not receive any of the income. With the Mortgage Debt Foregiveness Act, he won't have to pay any tax on the forgiven $20,000 debt, but will still have to pay the capital gains tax on the $60,000 of phantom income.
If the borrower can show that he was insolvent—unable to pay his bills—or that he lived in the home as his principal residence for at least 2 of the previous 5 years, then he will not owe taxes on the capital gain, even in a foreclosure, and whether the loan was a recourse or nonrecourse loan. Note that, without the Mortgage Debt Forgiveness Act, taxes would apply to any forgiven debt, even when the capital gains would be excluded by the Home Sale Exclusion Rule. However, the borrower could still avoid paying the tax if he can show that he is insolvent.
Here is a great new for-sale-by-owner site, Choice A, for selling your real estate. It is free to list your property, and is very simple to use. If you are looking for property, you can select an area by either city-state or by zip code. However, because this site only recently went live, most of the properties are restricted to Portland, Oregon and Seattle, Washington, but I'm sure that it will expand rapidly. It is easy to survey properties by thumbnails, map, or by a tabular list that can be sorted in numerous ways, such as by price or zip code. I'm sure there will be many more features in the future, but this is a great site right from the get-go. Below are some annotated screenshot snippets that provide more detailed features of the site.
When a lender forecloses on a home, the IRS treats it as a sale. If the borrower is not personally liable for the debt, such as would be the case for a nonrecourse loan, then the selling price is equal to the price of the cancelled debt. If the borrower is liable for the debt, then the sale price is equal to the canceled debt up to the fair market value (FMV) of the home. If the canceled debt is greater than the FMV, then the difference between the debt and the FMV is treated as ordinary income, for which the lender is required to send a Form 1099-C, Cancellation of Debt (COD), listing the amount of ordinary income. Any unpaid liabilities on the property, such as property taxes, will reduce the FMV of the home and increase the COD. However, if the liabilities are paid by the borrower, then this will increase the FMV and decrease the COD. The lender will also send a Form 1099-A, Acquisition or Abandonment of Secured Property, that will allow the borrower to determine the capital gain or loss from the foreclosure. Taxes must be paid on the capital gain in addition to any ordinary income from the canceled debt that exceeds the FMV of the home in a recourse loan. For a nonrecourse loan, any income is treated as a capital gain equal to the canceled debt minus the adjusted basis of the property—there is no COD income. However, a capital loss from a foreclosure cannot be deducted.
With the recent decline of home prices, many homes are worth less than the amount of money owed on the property, especially for borrowers who took advantage of lax lending standards, and bought with no money down or used inflated home appraisals. Consequently, many homeowners whose homes were foreclosed by the lender may owe a significant amount of taxes.The IRS treats all forgiven debt as ordinary income, even though in the case of foreclosure, the homeowner doesn’t get to keep the home.
If the taxes are not paid for the year the debt was canceled, then the IRS adds penalties and interest to the total tax bill, which can often be tens of thousands of dollars.
However, the tax is not owed:
Because the lender has some discretion in valuing a home, it can sometimes be successfully argued that the fair market value of the home was greater than the debt, in which case, no tax on COD is due.
After Foreclosure, a Big Tax Bill From the I.R.S.
Some real estate companies are combining experienced local real estate agents with e-commerce applications that reduce the workload of the agents, which allows these companies to pay the agents less for each sale, which allows the companies to pass the savings to the company's clients.
Right now, Redfin covers the San Francisco Bay Area, Los Angeles, San Diego, Orange County, Boston, and Washington D.C.
Sellers pay a flat fee, either an upfront fee of $3,000 or $4,000 at closing, for those people who don't want to pay upfront, or in those states, such as California, that don't allow payment of an upfront fee. The houses are listed on the Multiple Listing Service (MLS). The seller saves $11,000-$12,000 of the typical seller's commission on the average Redfin home price of $500,000.
Buyers, if they don’t use an outside buyer’s agent, save 2/3 of the buyer's agent's commission that is refunded at closing, which can amount to $10,000 on a $500,000 home. The average commission refund was 1.95% of the purchase price in Redfin’s 1st year of operation.
Buyers can tour homes online and draft an offer online. Redfin handles the negotiations and the paperwork, and gives a 100% satisfaction guarantee.
Redfin doesn’t use dual agency—different agents will be assigned for the buyer and seller of the same property, if necessary.
To find homes, the buyer can use maps on Redfin’s website to zero in on a general area.
Homes for sale are represented by small green houses on the map. Selecting 1 of the houses highlights more detailed information displayed in a table and shows a picture of the property. There are also links for much more detailed information for each property. The buyer can use a filter to narrow search results, such as price range or number of bedrooms, etc, and the map can also show what surrounding property recently sold for.
BuySide Realty is another similar service with coverage in more states, but offers its services to buyers, who are refunded 75% of the commission at closing. BuySide agents are members of the National Association of REALTORS.
Higher Deductibles Sting Homeowners
Many insurance companies are now using percentage deductibles for damages from natural disasters, especially wind, flood, hail, and earthquake—that range from 1% - 5% of the insured value of the home—instead of the traditional flat pricing, such as a $1,000 deductible, for instance. Percentage deductibles usually result in higher deductibles. For instance, a house insured for $500,000 with a 5% deductible is equal to a $25,000 deductible. Although the deductible is higher, insurance premiums are generally lower with percentage deductibles. However, some states, such as North Carolina and Georgia, don't allow percentage deductibles.
No Market in the Secondary Mortgage Market
Because of the recent fallout from the subprime mortgage market, investors have been very reluctant to buy mortgage-backed securities. Only those loans that conform to the standards of government-sponsored enterprises (GSE), such as Ginnie Mae and Fannie Mae, which are guaranteed by the full faith and credit of the United States, can be sold. Even Alt-A mortgages, most of which are more creditworthy than subprime, are difficult to sell unless they are rated AAA.
Mortgage rates will rise because lenders can't resell their loans in the secondary market, which means they'll have to carry the loans, which leaves less money to lend out for additional loans. Thus, limited supply will raise prices, causing home prices to fall even more than they already have.
Mortgage rate increases will be substantial for nonconforming loans. Usually, the cost of making nonconforming loans is 102% of the loan value, but nowadays 103% is not enough. It is predicted that rates for nonconforming mortgages will be at least 100 basis points higher. Because conforming mortgages have a limit that is lower than many houses in the most expensive areas of the country, it will be more difficult to get loans for more expensive real estate, which will inevitably lead to lower prices.
The credit ratings of certain collateralized debt obligations (CDO) will soon be downgraded in light of the increasing delinquency rate of subprime mortgages. About 40% of CDOs consists of residential mortgage-backed securities (MBS), and ¾ of that consists of subprime loans and home-equity loans, which have a lower lien status. Predictions are being made that CDOs will experience significant losses if home prices continue to depreciate, which is expected to continue at least until 2008.
Much of the subprime trouble was caused by mortgage fraud and falsifications in credit reports. Thus, credit scores, loan-to-value ratios, and ownership status have become less reliable as indicators of creditworthiness, so S&P, which rates much of the CDO issues, is changing its methodology. One change is that higher-rated tranches will need greater credit enhancement to prevent being downgraded if lower tranches in the same issue are downgraded.
A CDO issue divides its MBSs into different tranches, or classes, with different risk profiles. Lower credit-rated mortgages compose the lower tranches, which gives a higher credit quality to the upper tranches. However, all tranches must be sold, or the CDO cannot be issued. Thus, the lower credit ratings of the lower tranches may decrease the number of CDOs that can be sold, which, in turn, will decrease the number of mortgages that can be sold, which will increase mortgage rates for all borrowers.
REX & Company, a small San Francisco real estate investment company is offering homeowners a way to get cash out of their homes by allowing it to invest in the price appreciation of their primary house—not rental or investment properties. When the house is sold, REX would receive a percentage of the increase, and if the house were sold at a loss, REX would get less than what you received from REX for its interest. The amount of money that you would receive would depend on what REX's percentage is in the appreciation of your home. According to its website, REX establishes what it calls the Option Exercise Price, which is paid to the homeowner as 2 payments. The Advance Payment is paid when the homeowner signs the REX Agreement. The Remaining Payment is paid when the REX Agreement ends, in 50 years or when the home is sold, whichever occurs 1st. (I'm not sure about the details of this, but it seems that the Remaining Payment is not really a payment, unless your house declined considerably in value, since you would then have to pay REX its share of your home's appreciation, which would probably be a lot more than the Remaining Payment. Also, does REX pay interest on the Remaining Payment?)
It is not a loan nor is it a reverse mortgage, so no interest is charged and no payment is required until the house is sold, or the REX Agreement ends. You could get a lump sum payment for up to 13% of your home's appraised value. There are no minimum income or asset requirements, but you do need a FICO score of at least 680. You do not need to pay off the mortgage, and you can terminate a REX Agreement at any time by paying REX the value of its interest in your home. Currently, it is available in only 9 states, but REX is planning to expand in all 50 states shortly.
A reverse mortgage is a nonrecourse loan made to a homeowner, where the lender pays the homeowner either a lump-sum payment or periodic payments, usually monthly, that is based on the equity in the house, or approves a line of credit that the homeowner can draw on at any time. The amount received is proportional to the borrower’s age and inversely proportional to the prevailing interest rates, and depends on the geographic location and the value of the home. (For an estimate of what you can get, check out the AARP's Reverse Mortgages Calculator.)
Reverse mortgages allow older homeowners to receive cash, while still living in their homes. The loan is repaid when the homeowner dies, or when it is sold. If the lender fails to receive the full amount of the loan with interest, then the lender must accept the loss. Any equity left over is returned to the borrower, his estate, or to his heirs.
The disadvantage of reverse mortgages is the substantial fees, which can include an origination fee for up to 2% of the home’s equity, not the lower loan amount; and up to 2% of the loan amount for the mortgage insurance premium.
Most reverse mortgages, about 90%, are insured by the Department of Housing and Urban Development (HUD) with a Home Equity Conversion Mortgage (HECM).
In addition, borrowers for all federally insured mortgages, and most privately insured mortgages, must take counseling about reverse mortgages to ensure that they understand the risks.
Loans insured by HECM cannot exceed a certain amount regardless of the value of the house—$362,790 in urban areas and $200,160 in rural areas. Jumbo reverse mortgages exist for more expensive homes, but these are privately insured, and have higher fees, including an interest rate that could be up to 2% higher than for a federally insured loan.
Reverse mortgages have been surging, with half of all such loans issued within the past 2 years. With baby boomers retiring, this number is expected to increase rapidly, which will increase competition in the marketing of reverse mortgages, thereby lowering fees and costs.
HUD is also trying to lower origination fees and mortgage insurance premiums. Ginnie Mae announced in October, 2006 that it will package reverse mortgages as securities, which will help to lower interest rates on the loans by reducing the risk for lenders.
Destination clubs allow members to vacation at a variety of properties at various places in the world—like time shares for several properties, but without the ownership or the maintenance. Large refundable deposits, sometimes to $3 million dollars or more, are required in addition to annual dues to cover operating expenses. The deposits are used to purchase the real estate, which helps to protect members' deposits. The company profits by taking some of the deposit as income and from real estate appreciation. Some companies give their members a stake in the real estate and to some of the appreciation, and, thus, are sometimes known as equity clubs.
However, the companies that run these clubs are unregulated, and people could lose their hefty deposits if the company goes bankrupt, especially if the company rented properties instead of buying them, as Tanner & Haley Resorts did. People would be wise to investigate the company thoroughly before depositing any money, and to make sure that the company is buying real estate with the money. Avoid companies that refuse to provide financial statements or cannot provide verification of the company's ability to refund deposits. To protect members, Ultimate Resort is putting deposit money into a trust and makes the members secured creditors, and Quintess is planning on making members secured creditors to the real estate, and is giving members access to its quarterly, audited reports. In both cases, if the company does go under, the members claims will only be subordinate to the mortgages on the real estate.
Find out more about fractional ownership here: Luxury Fractional Guide - Info on Fractional Ownership Real Estate and Fractional Vacation Ownership
Microhouses, or minihouses, are small houses that range from a few hundred to a thousand square feet. More living space is achieved by using the vertical space more effectively, such as putting beds in lofts or putting a patio or deck on the roof, and using small appliances and furniture. Some of these houses, as small as 64 square feet, are added onto existing property for personal space, or specialized needs. I'm sure that a few wealthy people will buy one for their kids as good way to start teaching them how to manage a household.
Microhouses seem like a good idea for the more numerous single people today. Less cost, property taxes, maintenance, cheaper to heat and cool, cozier, don't have to walk too far to the bathroom, and more privacy than a condo unit or a co-op.
These are very risky mortgages. Real estate prices are declining, and will continue to decline for a few years, at least. It would probably be better to try to sell now while prices are still in the lower stratosphere. Risky mortgages like these, and others, such as interest-only mortgages and the new 50 year mortgages, is what led to the high home prices in the 1st place. This is a situation where refinancing, or selling the home for enough money to pay off the mortgage becomes impossible. When you overpay for something, you are sure to lose. I'll tell you a little secret. Buying high and selling low is NOT the path to great wealth!
Some hoteliers are selling some hotel rooms like one would sell a condominium—thus, the name: condo hotel. Some are being built brand new, and others are being converted from old hotels. They are generally located in expensive vacation destinations—for now, most of them are in Florida.
Condo hotels differ from times shares or fractional ownership in that the owner of the condo hotel doesn’t have to rent out the room, nor is there an obligation to use the hotel management, although if you are going to rent, what other cost-effective option is there?
Because the buyer is actually buying real estate, there are real estate taxes, insurance, and a condo association fee, and condo hotels generally cost twice what an equivalent residential condo would cost. There is no common method for allocating other expenses of a hotel, such as a bar, convention facilities, or shops.
Buyers don't have to rent out their rooms, but if they do, then they will be bound by the rental agreement. If the rooms are rented, then they will have to match others in the hotel. The owner will not generally be able to use it during peak occupancy times, although an owner probably wouldn't want to do this, anyway, since that will be the most profitable time to rent. Local ordinances may restrict the amount of time that an owner may occupy his room.
In a typical arrangement, the hotel operator takes 10% of the rental for operating the hotel and renting out the rooms, and cleaning, then the rest is split 50/50 between the condo-hotel owner and the hotel.
However, the problems are numerous. The hotel business is very volatile, so there may be large blocks of time when the rooms are not rented, especially during economic downturns. There is little real-estate market history to indicate how condo hotels will appreciate, and how much effort it will take to sell them. If the hotel itself runs into trouble, the owners of each of its rooms may be forced to bail it out.
Condo-hotels are not actually considered investments, because they probably won’t make money, but it is considered a means of owning some property in expensive locales with the rents helping to reduce the costs of ownership.
There is a new website specifically for both buyers and sellers of condo-hotels: NACHO—National Association of Condo Hotel Owners.
This site provides a quick, easy way to find out if you can get a mortgage, and what it will basically cost. There is on credit report inquiry (which would have a slight negative impact on your credit score), and they don't require your social security number. Proffered advantages include:
Home Steps is a Freddie Mac program that helps low- to moderate-income people can mortgages. Advantages include:
Homepath is Fannie Mae's equivalent to Freddie Mac's Home Steps program.
The 50-year mortgage is a 5/1 hybrid indexed to the London Interbank Offered Rate (LIBOR)—the introductory interest rate lasts for 5 years, then is adjusted annually.
| Mortgage Table for a $535,470 loan— the median home sale price in California in February 2006! | |||
|---|---|---|---|
| Length of Loan | Payment Per Month | Total Interest | Total Payment |
| 5 yrs | |||
| 10 yrs | |||
| 15 yrs | |||
| 20 yrs | |||
| 25 yrs | |||
| 30 yrs | |||
| 35 yrs | |||
| 40 yrs | |||
| 45 yrs | |||
| 50 yrs | |||
As you can see from the above table (generated by my mortgage calculator), the total payments for a 50-year mortgage is more than 3 times what the home cost.
The 50-year mortgage, the interest-only mortgage, and the payment-option ARM are symptomatic of too many people willing to pay too high a price for real estate, or are going beyond their true means, which will, in many cases, lead to hardships and foreclosures. This is a clear indication that the real estate bubble is reaching its limits.
Of course, many people buy homes at these prices because they think they'll be able to flip it over within a short time for an even higher price. Good luck with that!
This seems like a promising way to save money on buying real estate. Below are some extracted quotes with what I thought was the most important information.
RebateReps is a Nationwide Network of top Real Estate Agents. If you are buying any new construction or resale home, we can save you money by connecting you to one of our agents who will put their commission into your pocket.
RebateReps agents share their commission with you with the "two zeros" program. Just take the last two zeros off the price of the house, and that's your rebate! Example: If you buy a house for $200,000, you get $2,000 back as a rebate.When buying a resale home, the seller’s agent is known as the "listing agent". The listing agent charges the seller a fixed fee, (often 6% - so we'll use 6% as an example here). The seller pays this 6% fee whether or not you, the buyer, have an agent representing you. This means that when you do NOT have an agent, the listing agent keeps the entire 6% commission. The seller has no motivation to offer you a better price if you buy his house without a real estate agent, because he has to pay the same 6% commission to his listing agent either way! RebateReps lets you take advantage of this "loophole". When you use a RebateReps agent to represent you, the RebateReps agent gets paid part of the listing agent's commission, and then rebates part of it to you!
When buying a new construction home, the builder sets the price. If you buy a new construction home and have a RebateReps agent present, the builder must pay your agent a commission - even though you pay the same price for the home! The law stipulates that a builder can only pay a commission to a licensed real estate agent. Without an agent present, you pay the same price as you would have if you had arrived with a RebateReps agent. However, without an agent, you forfeit your opportunity to get a rebate.
The rebate is paid to you at closing, meaning you bring less of your own money to the closing table. There is never any charge nor any fees to you, the buyer. A traditional real estate agent might spend several months driving you around every weekend to look at new homes. That takes a lot of time, which is why the agent has to make a large commission on each transaction (which, by the way, the seller pays). But we figure that you'd prefer to start your home search on the Internet instead, right?Finally, is it worth it to take a home office deduction on Schedule C or simply claim non-reimbursable business expenses on Schedule A? It is worth it if you are self-employed because the Schedule C deduction lowers the 15.3% Social Security and Medicare tax. However, for employees working at home, it may not make as much sense, since the homeowner is probably already deducting interest and property taxes on Schedule A, and can't deduct against Social Security and Medicare taxes.
Some websites mentioned:
This site helps you to find real estate agents in your zip code. You can see what houses they have sold recently, what price was asked for, what price did they get, and what opinion the home seller had of the real estate agent. You select the real estate agents. No forms to fill out, no unsolicited calls from agents, and no unwanted email.
This site obviously helps you sell your house yourself. There is a small fee that starts at $89.95, but they guarantee that you will sell your home at your price, or they will refund your money.
Texas, Pennsylvania, and New York have the highest rates, costing about $1,400 for $180,000. $1,100 is an average price across the country.
The title insurance industry pays about 4% of its collected premiums in claims, compared to a 75% payout for auto insurance. It is argued that a good deal of the premium is used for research to prevent later losses. But considering that much of this research is stored in online databases, how much can it cost, really? Even the premiums for boiler insurance, where part of the premium is spent for inspections and risk analysis, pays out 25%.
Most consumers get sucked in because they usually don't choose the title insurance company, but is chosen for them by the mortgage provider or the real estate agent. Naturally, the title insurance companies market heavily to them. Since they're not the actual purchasers, the price will usually not be an option.
Iowa is the only state that does not allow the sale of title insurance. Iowa has a state-run Title Guaranty Program that costs the home buyer just $385 for up to $500,000 of coverage—$110 for the coverage, $150 for an abstractor who does the research, and $125 for a review by a lawyer.
Home Buying Tip: Obviously, in other states, the best way to save money is for the home buyer to buy her own insurance, and to get prices well before closing.
Although there is 1 or 2 examples of sellers getting even more than the price range, seller beware. An article in The Journal of Real Estate Finance and Economics stated that homes with a range take longer to sell, and with little effect on actual selling prices.
The listings on the right can be sorted by price, number of bedrooms, description, city, or date listed by clicking on the column headings. Click once for a lowest to highest sort, click the header again to reverse the sort.
530 Tax Information for First-Time Homeowners
587 Business Use of Your Home, Publication 587
523 Selling Your Home, Publication 523
527 Residential Rental Property, Including Vacation Homes
521 Moving Expenses, Publication 521
936 Home Mortgage Interest Deduction, Publication 936
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530 Tax Information for First-Time Homeowners
587 Business Use of Your Home, Publication 587
523 Selling Your Home, Publication 523
527 Residential Rental Property, Including Vacation Homes
521 Moving Expenses, Publication 521
936 Home Mortgage Interest Deduction, Publication 936