Springfield Area Blog

Wanted to let you know that my blog is a great way to get great real estate tips whether you are buying, selling or just looking to improve your own home's value.  Call me anytime!

Best,

 Rick

Just an update to all of our friends and clients that we have had a busy few days with a house going under contract and one which has sold. If you know someone who needs their home sold, call us and we will get it done.  Take a look at these propeties which have just recently gone off the market.

Additionally, If you would like to subscribe to my blog, simply click the link and you will be automatically notified of new postings!

Have a great week.

Here are some items of interest that every educated consumer (and you are!) should enjoy.  Have a great weekend.

Rick

By the Numbers – Barry Habib

1. PROFITS – The S&P 500 companies reported +48% more in profits for calendar 2007 than they did in calendar year 1999, but last year's total earnings for all 500 companies was 20% less than 2006 (source: S&P).

2. STOCKS IN CHINA - After gaining +353% during the last 2 calendar years (2006-07), the Chinese Shanghai stock index has fallen 34% YTD through last Friday. The Shanghai index is an unmanaged index that is generally considered representative of the Chinese stock market. These international securities involve additional risks including currency fluctuations, differing financial accounting standards and possible political and economic volatility (source: BTN Research).

3. REBALANCE OR NOT? - If you allocated $100,000 in a pretax account on 1/01/83 between stocks (60%) and bonds (40%) and never rebalanced the portfolio, the account would be worth $1.51 million on 12/31/07. That equates to a +11.5% annualized total return over the 25-year period. Annual rebalancing back to the original 60/40 allocation would have generated $1.46 million or an annualized total return of +11.3%. The S&P 500 was used as the stock proxy. The Lehman Brothers Aggregate bond index, calculated using 6,000 publicly traded government and corporate bonds with an average maturity of 10 years, was used as the bond measurement. (source: BTN Research).

4. RECORD LEVELS - The price of a barrel of oil closed last Friday (4/11/08) at $110.14, a +78% increase over its closing price ($62.01) from exactly 1-year earlier (4/11/07). The highest closing price ever for oil ($110.87) was set last Wednesday (source: New York Mercantile Exc).

5. WHERE IT COMES FROM - More than half of the oil the US imports (52%) comes from the 4 countries of Canada, Saudi Arabia, Mexico and Venezuela (source: Energy Information Admini).

6. LOYAL TO THE COMPANY - 45% of employees say the benefits provided by their employer are an important part of their decision to stay on the job (source: MetLife).

7. NOT ENOUGH - Only 23% of Americans at least age 55 have accumulated savings and retirement assets of at least $250,000 (source: Employee Benefit Research Institute).

8. SAFE MONEY - As of last week, the total value of money market funds exceeded $3.5 trillion, an all-time record. The total is up $1.1 trillion in the last 12 months (source: Investment Company Institute).

9. NO TRIP TO THE MALL - American consumers are expected to increase their online purchases by +17% in 2008 over the previous year to $204 billion. Projections include the purchase of $27 billion of clothes, $24 billion of computers and $19 billion of autos (source: National Retail Federation).

Courtesy of Katherina Kalman * Gorman & Gorman Home Loans

Greetings everyone,

Wanted to remind folks who may have procrastinated a bit that there are filing and paying extensions as outlined below.  Hope this may benefit someone (or many!).  Have a great week.  Rick

Lt. Gov. Kinder and Revenue Department Extend Tax Filing Deadline for Disaster Victims

JEFFERSON CITY – Lt. Gov. Peter Kinder and the Missouri Department of Revenue announced that taxpayers in the 35 Missouri counties approved for federal disaster assistance due to recent flooding will have until May 19, 2008, to file and pay most taxes.

“Missourians who have been devastated by this historic flooding will now have more time to focus on the fundamental task of returning their lives to normal,” Lt. Gov. Kinder said. “Although, this simple extension will not recover lost belongings or replace damaged homes, it is our hope that moving this deadline will alleviate some complexity in this time of misfortune.”

“We have seen an unprecedented number of Missouri families and their communities devastated by flooding and its aftermath,” Gov. Matt Blunt said. “This extension will allow Missouri families who are recovering from the flood to focus on these immediate concerns and not the upcoming tax deadline.”

“The Department is sensitive to the difficult times that lay ahead for our fellow citizens due to the destructive flooding in these areas,” Director of Revenue Omar Davis said.  Extending their deadline for filing taxes will, hopefully, result in one less thing for them to worry about at this challenging time in their lives.”

On April 1, the Internal Revenue Service (IRS) announced that taxpayers in counties approved for federal disaster assistance have been granted an extension to the regular deadline to file their federal tax returns.

Taxpayers in the following counties will be granted this extension: Bollinger, Butler, Callaway, Carter, Christian, Franklin, Gasconade, Cape Girardeau, Greene, Howard, Iron, Jasper, Jefferson, Laclede, Madison, Maries, McDonald, Newton, Oregon, Osage, Phelps, Pulaski, Reynolds, Ripley, Scott, Shannon, St. Louis, St. Francois, Stoddard, Stone, Taney, Texas, Washington, Wayne, and Webster.

The department considers taxpayers who live in, have businesses in, or employ tax preparers in the affected counties eligible for the relief. Missouri taxpayers who qualify need to indicate their eligibility for relief by including the phrase “Missouri Severe Storms and Flooding” at the top of their tax forms so the Department may take appropriate action.

The May 19, 2008, deadline will apply to any of the following:

• 2007 Missouri individual income tax returns, whether filed electronically or on paper
• 2007 Missouri corporate income/franchise tax returns
• 2007 Financial institutions tax returns, including Bank Franchise Tax, Savings and Loan Tax, Fiduciary Tax, Credit Union Tax, Farmers Coop Intangible Property Tax, and Credit Institution Tax
• Tax year 2007 balance due payments, whether made electronically or by check.
• Individual and corporate estimated tax payments for the first quarter of 2008, whether made electronically or by check.
• Requests for an automatic six-month tax-filing extension, whether submitted electronically or on Forms 4868 or 7004 (federal) or Forms MO-60 or MO-7004 (state)

Taxpayers are still encouraged to continue to file and pay electronically. Filing electronically offers immediate proof of filing as well as increased accuracy. Electronic filing sends the data directly to the processing system, sidestepping any potential keying errors with conventional paper returns. It also allows the taxpayer the option of receiving a refund via direct deposit. Direct deposit is available only when taxpayers file electronically.

Taxpayers who choose to file and pay electronically and receive notice from the Department that penalties and interest have been imposed because their return or payment was received after the due date need to contact the Department at the telephone number or e-mail address provided on the notice, and ask for the penalties and interest to be removed.

The Department’s Interactive Voice Response system gives taxpayers the option of using the telephone to obtain information on the status of their tax return. Taxpayers may use the toll-free option by calling (866) 433-7259. Taxpayers can also access the tracking system by calling the toll number, (573) 526-TAXX (8299). The Department continues to offer the Online Personal Tax Return Inquiry system, available on the internet at www.dor.mo.gov. To use the online system, just click “Where’s My Tax Return?” on the right side of the page