Closing Costs...whats deductible

nothing, until you sell your home for a loss.

Can't deduct loss on primary residence.

true enough - investment property only!

didnt know that...you get capital gains tax on sale of private residence...but no loss deduction....interesting.

See ph41. Financial acumen of a gnat. Bet a strategic defaulter bf the coordinated curtains come in.

There's a trick to get closing costs deductible. I've never tried this but it should work.
Price a 30 year mortgage with no points. Take all your closing costs and have the lender add to the balance and then price in enough points such that you are back to your original 0 point P&i

Anyone ever do try this?

W67 - come on, be gentle with this first time, very scared buyer. Then again, everybody yelled at Lobster for "stupid" as in "are you an adult living in NY?" questions until she retreated into "bow and kick me now" submissions

besides points paid, prepaid interest and taxes. the bulk go into its basis so should you sell, your gain will be minimized (but you get the $250k/500k exclusion should you live there 2 outta 5 years)

and if you rent it out a couple years (even a room), depreciation is a tax blessing. everyone loves a double-double.. double declining/double penetration of the mepa broads/dudes you'll be banging.

w67 does your dad still speak to you after he booted you from the family RE firm for your lack of initiative and excessive ramblingzZzZZzz onz the interwebzz yozZz

ph41, what is youe deal with me? I know nothing about you, yet you seem a little too interested in me.
If you don't like me or my comments, then just put meon ignore.

It is interesting to me that I have a good sense of who most of the regular female posters are on SE, yet know absolutely nothing about you. Putting me on ignore is better than endlessly talking about me as if we weren't strangers. We're just very different people-that's not hard to understand. Not everyone enjoys arguing with strangers.

Again pleae refrain from discussing who you think I am. We are strangers. I've tried to give you the benefit of the doubt, but this is getting silly already.

Hey ... Not to worry. Sometimes penthouse lady gets into the wine a little too early and way too much..

Thanks cc. I have no sense of who ph41 is at all unlike most of the other female posters.

Major boundary problems made far worse with the early cocktails.

Lobster - you should come out to xr bar with us next week.

ny10023, I will definitely try. Would love to meet you and aboutready.

Lobster I'm driving from Hartford for the XR Get Together. I'll buy you a sidecar or two if you come.

Thanks. Would love to meet you too.

nyc10023, nycdreamer, what time will everyone be at xr bar?

Alan called it 7ish

"ss400k
about 17 months ago
ignore this person
report abuse
exactly Juice, 80% of the bears forecasted (speculated) the RE crash...right on dudes.

however their RE predictions were made in a vacuum, assuming a weakened, but stabilized climate. of course now that we know of the black swan's coming trillion dollar albatross and a new administration of beefy, delicious taxes, that 30% prime drop might as well be a 5% gain on real property, taking into consideration the dollar's fall, as you note.

but we're just dumb bulls, who bought at peak, since real estate can be argued as an isolated transaction, void of any unforeseen regulatory failures..right?"

ss400k.. .you flaming retard. 17months ago you would've bought with euros, and sunk it into nyc RE... .as we head into euro dollar parity... FLMAO.. good call, 30% drop in NYC RE on top of 30% drop in EURO...... now unless you somehow think the "rents are in DOLLARS!!!!" negates the 60+% drop in your capital investment... you are a complete and utter retard...

but pls do on.... tell me how you clawed your way to the top wo parents raised by wolves... when did you cut the umbilical cord? by yourself at 16 weeks of gestation... go on ... tell me... when do we no longer carry the genes of our forefathers? dumb little beeeycth...

again... EXCELLENT call on NYC RE and EUROS.... good call..

my baaaad to the regulars... ss400k... been pricking me a bit.. let it go a few times....

ss400k, besides trolling for men brokers on SE, and giving great RE and Investment advice w/ sexual innuendos.. what's do you do besides work at a brokerage house?

Lobster - that's funny, as you've thanked me a number of times in the past for my advice.

Why don't you come too?

As W67th would say, "Nice, nice, nice".

lobster, ph41 is just one person, but with many different names. don't let it get to you.

do come. would love to meet you.

No aboutready - I have just one name. See absolutely no reason to have more than one, not even to satisfy your fantasies.

this place is ''''sooooo'''' highschool......a topic never stays on track......you are adults and look what you are saying to each other......please grow up!

You think we're all adults - could all be teenage boys cutting school on a nice spring day.

true.....and im celebrating my sweet sixteen next weekend

ph41, sure. i love it when you talk to yourself. that's the best.

@Mhillqt cool, lets hang out

AR - you really should see a shrink about your paranoia. Or about your delusions of grandeur. My world definitely does not revolve around you, though you, for some absurd self-centered reason, seem to think it does.

ph41, that's something your various identities have in common!! many think i should see a shrink.

honey, i don't give a rat's ass what you think about me. haven't you figured that out? i think you're funny.

in a nasty sort of way.

Well, it's nice to see the color coming back into everyone's face.
I'm up for cocktails at ph41's place. We raid the liquor closet, get looped and, throw lawn furniture off the balcony at unsuspecting passers by. We top off our evening with bong hits, fried chicken and porn on her brand new fabulous 52 inch 3D High Definition television.

Mhilqt, it's going to be your b-day so you bring the porn. This is an RE chat site so don't skimp on the quality. Sorry ph41,I realize that you've got plenty of porn in-house but, I don't know your taste. I'm betting it's very Seventies. I'm just exhausted of the 'Bush' administration, if you get my drift.

Oh yes, AR, it's quite OBVIOUS you DO give a rat's ass about what I think of you - which is why you do this sort of low key, smarmy stalking of me.

And as I have told you MANY times, I DO NOT HAVE OTHER IDENTITIES!! But I guess that thread on the 80% carpet rule, where you discovered that not every SE poster agrees with everything you say, shook you up. (Remember how you went off in a huff for a couple of weeks?) Had you looking for aliases everywhere - and for some reason you fixated on me. Oh that's right - because under my one and only SE name, I actually disagreed with you on some things!!

ph41, you're wrong sweetness and light. i think you're grand. you epitomize everything i'm glad i'm not.

hey everyone, just do a search for terrace. or penthouse. and then troll through the results.

good times.

Now that 'rat's ass' comment has got me thinking....maybe it's not Seventies porn at all.

Oh, I'm coming to the cocktail party but, I'm wearing chaps....no pants.

word to the wise...bring plenty of Purell and, safty glasses.

Yes- AR - you won't find me (I bought well before 2005) - but you might find one of your SE buddies - just recently went to contract in fact - can you, oh all-knowing, all-seeing AR figure out who that might be?

And yes, thank you, I do epitomize intelligence, grace,accomplishments and social skills - at least that's what my husband, family and friends all think.

Just look for "penthouse" "terrace" well under $1,000,000 - I'll let you figure out the area

speechless.

no ph41, i wasn't talking in recorded sales, i was talking searching the discussion threads. i don't care at all where or what you own, or even your real identity. unlike SOME people i would NEVER try to out anyone on an anonymous board. i was talking your obvious multiple personalities showing up when one takes a look at certain topics.

I tried to out Mota on the Setai thread, and I make no apologies, he deserved it.

So here I am wearing nothing but the smile on my face and cowboy chaps.

Not even a single comment.

For the record....I can get ignored at home.

truth, i'll have to go look. but generally, outing someone in terms of content, ok. in terms of identity, not so good. you may think you have a right because of some issue, but who draws the line at what is an appropriate issue? do you out someone because they are obnoxious? because they have a horrible grasp of economic concepts? because they are lying (rampant).

particularly when we are so willing to share and meet others within our community.

falco, you talk big, but will you deliver? xr bar, the 12th, you and the missus at 7:00.

Well in this case he was quite abusive to all posters who had something negative to say about the Setai, including you.
Went on with total shillery claims of in contracts like he viewed the paperwork himself and dismissed everyone quite arrogantly how all information on "these blogs" is false.

truth, i now do recall, i generally don't go after individual buildings with such focus. but i think that such obvious behavior is generally obvious. and kind of pitiful. i don't know that it helps to "out" the person.

you have your opinion, and i respect it. but someone here has tried to out me, and i have to wonder at what point the slippery slope indicates that there is no anonymity. i don't care for myself, but i have a child and i'm not interested in being part of a NY housewives sort of scenario.

AR - you are too funny. Topics like coop living, financing requirements, paint colors, renovations, contractors, areas of the city?

OH yes, and occasionally StuyTown and PCV.

aren't you full of wit and interesting commentary? go kiss kylewest's ass some more, would you?

ph41,
I never show up empty handed so...
Red or White?
Silicon based or water soluble?

Falco - I usually really enjoy your witty repartee, but I totally don't get this one.

He's making fun of you because you are so pompous and stuck up..

Hey CC - can't quite see what you're saying - so you will be able to come by with your truck and help with the plant delivery as you so generously offered a few weeks back? Let's try to coordinate timing.

well, cc, you know the state of nyc real estate revolves around paint colors and contractors. oh and coops, of course. basically, anything ph41 finds interesting.

hey, can you see me? i'll repeat. you're pompous and stuck up.

to all,
nothing but humor and light hearted subterfuge to soften a hard week. I still think a cocktail party at ph41's place is a great idea where a good time could be had by all. She's got the place, she's got the space and a wrap terrace on a May evening can't be beat. Cocktails at 8?

Cocktails at 8 it is. Pompous, suffices. Hate wordy put downs.

Millly, you don't even know when to have regrets. The mkt is about to puke and is poised to give a buying opportunity unlike any other, much greate than 3-09 when buffet was hypocitically buying Goldman. But yes you locked yourself ino an illiquid bubble bursting asset with 10% transaction cost. Gnat.

It's Friday - a beautiful day outside (no, I don't stay indoors all day and post, though it may seem like I do). Nice, nice, nice, peeps. If you want to host, ph41, I'm sure everyone will be on their best behavior.

and it's almost mother's day as well. happy, happy.