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The IRS taxes SS once income exceeds certain levels so it is quite possible for someone not to be taxed on SS.
Of course, states have the flexibility to exempt any income it wishes from their own income taxes.
Heck, I know TN and TX neither one have an income tax on the working people. Of course, TN has about 9-9.5% sales tax on everything plus a food tax and beverage tax in restaurants. TN does tax pensions but I don't know how that works.
Wow. I've been holding off on reading this thread. I wish I didn't. The OP came off as a stuck up snob. I'm offended.
Ha, ha! I wondered how long it would be before I would get this kind of response. I'm surprised it has taken, what? like 6 mos since I first posted this? Oh, I will be the first to admit that I am a snob - and spoiled, too - as I said in my original post
But, I am obviously not worried about how I am perceived or offending anyone - I pretty much just tell it like it is. Fortunately, the many responders to my posts in this thread have not taken my comments to heart (personally) and have been mature and intelligent enough to accept me for my high standards, and look beyond my rant to offer helpful info.
To those responders - I must say, thank you! I am very grateful to you for your kindness, your advice and your encouragement during what has been the most distressing period of my life. And continues to be, as I have yet to find that "silver lining". Unrestricted property suitable for farm animals, in a "nice" area in Berkeley County, within my price range, has proven to be nearly impossible to find. (But I don't suppose I'll get any sympathy from 7th Direction. Oh, well, can't please everyone.)
Last edited by claybakin247; 08-02-2012 at 05:38 AM..
Bballjunkie, my mom did not pay taxes in MD and I am pretty sure she doesn't need to here in NY either. If memory serves me correct, WV is one of only 13 states or something low like that that taxes it. Considering how low that amount is for most people, I think it's awful to tax it at all.
This SS taxing thing is very distressing, and one more reason for me to just stay in VA. I don't want to have to move again when DH retires in about 10 years. But there are far fewer homes on the market here in and around Winchester, than in the EP, and the ones that are available are over priced from my perspective. Its bad enough that I've had to move up here in the first place, and to not be able to find a home at least as lovely as the one I had in Richmond is simply beyond my comprehension. (Okay, I'll stop whining now.)
Quote:
Originally Posted by isis297
At-Chilles, did you just watch the regular real estate listings like on Realtor.com to find those prices? I have NEVER seen those prices before and I have been watching WV real estate since my best friend moved there 2 years ago. I have found one house there right now that is priced at a fraction of it's value right now (not in the 5 figures by any means), but the bank wants a cash buyout only and the house is what I would expect to pay for a home in MD (not at this size...but just as an average house price). Like Claybakin247, I want something with land and without restriction as I want chickens and horses and I also want whatever home we buy next to be our forever home. Have you ever seen something like at such a price range or are those listings pretty much city listings? I LOVE your idea though...wish there was an easy way to see foreclosures being so far from there without having to pay the high monthly membership fees I see on most of those types of sites.
Don't use Realtor.com - HomesDatabase.com and Redfin.com are much better. Both link directly to the MRIS (MLS) system, and you can set it to show only those listings from the last 24 hrs ( or 3 days, 1 week, etc.), so you always know what the new ones are. Then I take the MRIS # and copy/paste it into Redfin to get the more detailed info, which HD does not provide. But neither give you complete foreclosure listings.
I just connected with a person in the EP that has access to the "LIST" - I learned about these elusive lists a few weeks ago while researching how to find foreclosure properties. These are REO lists which are generated from the banks (asset managers) and usually only shared with special real estate agents. This person also told me yesterday that he recently purchased a home in Berkeley County for $30K on Friday and sold it for $52 on Monday. He is in the utility industry and the banks need his services to work on these distress homes, therefore he has an "in" with them. I am meeting with him later today and hoping he will help me find what I'm looking for. He also said one of his buddies snatched up a 15 acre farm of Poor House Rd. (great location!) recently for around $85K - which was only available for one day and did not even make it to the MLS. These guys are holding the "ball" and I'm going to fight to be in the game.
And just so you know, the unrestricted farmette you and I area looking for - few and far between unless you have can afford upwards of $250k++. Unrestricted is the key - believe it or not - there is not all that much of that there, and most is in heavy wooded areas - not open farm land, at least from what I've seen. And even more maddening is that a number of lots as well as existing homes will allow horses but not poultry! Sheesh, what do these people have against chickens for goodness sake?!!! So frustrating.....
Today we're biking the C & O and then visiting an herb farm in Morgan County - EXERCISE and FRESH AIR - the only thing that is keeping me sane right now.
"And even more maddening is that a number of lots as well as existing homes will allow horses but not poultry! Sheesh, what do these people have against chickens for goodness sake?!!! So frustrating....."
Okay, when are you going to tell us the final verdict???
LOL! I really didn't think anyone really cared! I guess if I was excited about our choice I would have posted it. The fact is, I am not. I am not getting my little piece of "almost heaven" - my dream farmette nor a home in JC where I would have preferred to be.
I did find a farmette in BC - a great buy on 6 acres unrestricted - but my husband just refuses to drive 25 min or longer on Rte. 9 to work or be stranded out a backroad in the dead of winter when there's a bad storm. Can't say I blame him, and he is the one paying the mortgage after all.
So I had to let my head rule my heart, and we chose an extremely well-maintained newer home in a very nice subdivision near his work. We are very mindful of resale value, and that would not likely be a problem there. To be honest, I hate the house immensely and I really hate that we'll being living in a subdivision, although the home is on a fantastic lot. To make me feel better about this he's letting me make some major renovations and add a Florida Room. I've been interviewing contractors for weeks and next week I meet with a designer. So I am excited about that.
I'm not excited about the homeowner's insurance quote I received though. Its nearly $300 more than I paid in Richmond for my home there valued a great deal higher. I just don't get it. And that quote was from Erie, supposedly it doesn't get any cheaper than them.
And the situation with the propane tank really has me miffed. I am just danged determined not to have to pay MORE to live in a place (M-burg) that has LESS to offer me. (Of course, that's from my perspective. I do realize that many many people love living there. Hopefully, I'll learn to love it, too, but its going to have to get a decent high quality non-chain restaurant and a gourmet grocery store first - And, that seafood store that just opened near Target? Big disappointment.)
I know I need to get a handle on my anger and negative feelings about moving to M-burg - period. This I know. I've never in my life been as ornery with people as I've been these past few months. I just want some reason to be excited about moving there, and so far that has eluded me.
The IRS taxes SS once income exceeds certain levels so it is quite possible for someone not to be taxed on SS.
Of course, states have the flexibility to exempt any income it wishes from their own income taxes.
Heck, I know TN and TX neither one have an income tax on the working people. Of course, TN has about 9-9.5% sales tax on everything plus a food tax and beverage tax in restaurants. TN does tax pensions but I don't know how that works.
Texas has an income tax when the state budget needs money. Texas did have an income tax in the late 1980s.
Ok, so we get to closing and the HO insurance amount was about $175 less than quoted by the Erie agent in M-burg, so its down to a reasonable figure now. I had actually gotten a quote the day before from an Erie agent back in Richmond and knew the quote I received from the M-burg agent was off. Don't know what the M-burg agent was up to, but I intend to find out as soon as I have time. Gotta watch these guys, I got quotes from about 5 other agents in M-burg - apples to apples, believe me, I've owned 4 homes and I know what I'm doing here - and their quotes were all over the place. Erie cannot be beat, hands down and the coverage is great, so it would seem. Anyone wants to comment, please jump on in.
Now we're on to the major reno, ripped out the kitchen cabs and 2 layers of vinyl flooring yesterday. Really annoyed at not yet being able to secure a contractor, but interviewing one tomorrow. Evidently someone forgot to tell the residents of the EP that there's a recession on because everyone I've interviewed is booked until December. Hardwood flooring contractors booked, too - I've talked to several. A couple of contractors won't even return my phone calls.
Anyone want to add to my list of contractors - flooring + interior remodeling work - please send 'em my way. Its not a crazy big reno - just some framing and wall removal which will involve moving and adding some wiring. Kitchen appliance/plumbing layout remains the same.
Advice on good hardwood flooring products/brands/installers - pre-finished - would be enormously appreciated. Don't think I'm getting the honest word from the flooring companies/contractors and online reviews don't seem to be available (except for Lumber Liquidators, but EVERYONE is telling me to stay away from there!)
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Okie dokey!
- and spoiled, too - as I said in my original post
HomesDatabase.com
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Update!
