Wednesday, October 18, 2006

IRA Can be Individual Retirement Abode

Anyone seeking a second home might consider buying it as an IRA -- Individual Retirement Abode. One company, Sum Total Financial Management of Chicago, says you can buy a place “outside” of an IRA while using funds from an IRA to pay for it. "This program complies with all legislative and IRA/Tax laws," the company declares. (When property is purchased “inside” the IRA it cannot be enjoyed or occupied by the investor.) Some details at at the firm's Web site.

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Friday, October 06, 2006 Forecasts Major Florida Price Plunges

For those who own vacation homes or investment property in Cape Coral, Sarasota and Naples, Florida, fasten your seat belts -- you're in for a bumpy ride. Moody's projects more than an 18 percent decline in prices by February in Cape Coral, 14 percent in Sarasota by March and almost 13 percent in Naples by March. Note: numbers based on media existing home prices.

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More Park City News: Leaf-peep With Stein

Count on rental income? Some managing companies are better than others in promoting "off-season" packages. Example: Stein Eriksen Lodge in Deer Valley, Park City's high-end neighborhood.

From Oct.15 through Nov. 21, the ski legend's lodge (which includes many condos) offers a "Fall getaway" where guests "enjoy unsurpassed luxury and brilliant foliage," according to a press Release. One-BR suite + 3-course dinner= $99/per person. That kind of rate can boost owners' bottom line during traditionally slow times of year.

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