Here's yet another installment of Buddy's Fishing Report. Feel free to call us at the office with your questions.
Largemouth Bass: Are schooling right now, although some lone fish can be found. For loners cast crawdad crankbaits to areas of large broken rock and plan to cover a lot of water as quick as possible. For schooled fish, use large Spoons (chrome, white) or Blade baits (chrome, white) on points and bluffs near the main river channel.
Smallmouth Bass: Are schooled now. Use slab spoons or Blade baits (white, chartreuse, chrome) on mainlake points. Finding the fish can be difficult as they can be suspended at any level of the water column. Once found, a lot of smallmouth can be caught in a short time.
Crappie: Forget it! The fishing for this species has been poor all year. An occasional fish is caught deep fishing for other species.
White Bass: Look for these fish to be in large schools on top of and at the edge of large flats adjacent to the main river channel 25 to 40 feet deep. Use Slab spoons or Blade Baits (chrome, white, chartreuse). Jig vertical and let the lure touch the bottom.
Walleye: Look for these fish to be on top of and just off the edge of main lake flats and sloping drops near the main lake river channel. Watch your electronics closely, sometimes the walleye are scattered and hugging the bottom tight. Slab Spoons with white feathered treble hooks (white, gray), or Blade baits (chrome, white, chartreuse, orange). Be sure to bump the lure on the bottom!
Catfish: The south end of the reeds that border the old road bed has been producing well (10' to 15' deep). Also, the boat ramp at the main park entrance at night. Rogers- cheese bait and hot dogs are good bait.
Monday, November 30, 2009
More of Buddy's Ute Lake Fishing Report
We're bringing you this report directly from our friend Buddy. If you have questions, feel free to call or e-mail us at the real estate office.
Buddy's Report:
The months of October, November, thru Mid-December can provide some very good fishing on Ute Lake. The cooler air and the dropping water temperatures trigger the fish's instinct to feed and stock up on body fat for the coldest months to follow. The schooling predators hunt down schools of baitfish and crayfish often times feeding with reckless abandon.
Another plus to fishing at this time of the year is that the boat traffic is light and sports such as water skiing and jet skiing are non-existent because of the cold air and water temperature. Fishing on the lake can sometimes be almost lonely without seeing another fisherman all day. This gives the fisherman the opportunity to fish any area he chooses, but be warned this is not without some inherent danger if the fisherman is not properly equipped and prepared. Hypothermia can come quickly and is a killer!
A TIP:
ALWAYS carry a couple of Space Blankets in your boat. They are cheap to purchase and take up little space. Always wear a life jacket when on the water at this time of the year. A fall into the cold water will inhibit the ability to swim and getting back into the boat can be difficult. Always carry matches in a water proof container to build a fire on shore if need be. Always tell someone what time you will be home and what area of the lake you will be fishing. Stick to this plan. If your boat motor will not start, or there is another problem rescuers can more easily find you.
Buddy's Report:
The months of October, November, thru Mid-December can provide some very good fishing on Ute Lake. The cooler air and the dropping water temperatures trigger the fish's instinct to feed and stock up on body fat for the coldest months to follow. The schooling predators hunt down schools of baitfish and crayfish often times feeding with reckless abandon.
Another plus to fishing at this time of the year is that the boat traffic is light and sports such as water skiing and jet skiing are non-existent because of the cold air and water temperature. Fishing on the lake can sometimes be almost lonely without seeing another fisherman all day. This gives the fisherman the opportunity to fish any area he chooses, but be warned this is not without some inherent danger if the fisherman is not properly equipped and prepared. Hypothermia can come quickly and is a killer!
A TIP:
ALWAYS carry a couple of Space Blankets in your boat. They are cheap to purchase and take up little space. Always wear a life jacket when on the water at this time of the year. A fall into the cold water will inhibit the ability to swim and getting back into the boat can be difficult. Always carry matches in a water proof container to build a fire on shore if need be. Always tell someone what time you will be home and what area of the lake you will be fishing. Stick to this plan. If your boat motor will not start, or there is another problem rescuers can more easily find you.
Buddy's Ute Lake Fishing Report
Most people think that fishing is only done in the spring and the summer months, but that's not true at all. If you're willing to get out there when everyone is off the lake, fishing during those off months can be very beneficial.
At Ute Lake Premier Properties, we've been lucky enough to get a good friend of ours to put together a fishing report that we can bring to you through our website. With several articles published in different outdoor magazines, Buddy is an expert in his field. These days he is usually out on the lake at least 3-4 times a week. We figured that if there is anyone who can give us a little pre-fishing info before we head out to Ute Lake in the middle of winter, he's the guy.
The fishing reports will be relayed weekly so please continue to check out our blog.
If you have any questions, email us!
At Ute Lake Premier Properties, we've been lucky enough to get a good friend of ours to put together a fishing report that we can bring to you through our website. With several articles published in different outdoor magazines, Buddy is an expert in his field. These days he is usually out on the lake at least 3-4 times a week. We figured that if there is anyone who can give us a little pre-fishing info before we head out to Ute Lake in the middle of winter, he's the guy.
The fishing reports will be relayed weekly so please continue to check out our blog.
If you have any questions, email us!
Thursday, November 19, 2009
Significantly reduced price on great property
Just heard from a seller who is really interested in selling his property - he's reduced the price to under $100,000. You can own a gorgeous new home with a metal deck - 1440 square feet on a large corner lot with a view of the lake for only $99,900. Don't miss this one - this truly a great deal!
Tuesday, November 17, 2009
Tax Credit Available to Everyone!
Good news to anyone out there who's looking for a new home, whether you're a first time homebuyer or not. The federal government continues its push to boost the housing market by extending a popular tax credit and offering new incentives. The deadline for the $8,000 first time homebuyers tax credit has been extended until April 30th. It was set to expire at the end of this month.
If you currently own a home, and have lived there for five of the last eight years, you also qualify for a credit. The government is offering a $6,500 dollar tax credit for current homeowners looking to buy or build a new home. That credit is also good until the end of April, so now is the time to find your dream home or house plan so you can receive this tax credit, as well as additional rebates and credits.
A $6,500 tax credit would be a perfect down payment on a lot at Dos Rios - all you'd have to do is purchase the lot and get your construction loan going in order to qualify for the credit. Call us for more information!
Here are some answers to common questions about the new rules.
Tax Questions Answered (From The Wall Street Journal)
Q: What has stayed the same in the new law?
1) First-time home buyers still get a credit of as much as 10% of the purchase price, up to a maximum $8,000. "First-time" means people, including both partners of a married couple, who haven't owned a principal residence for three years before the purchase.
2) All taxpayers who claim a credit must use the home as a principal residence for the next three consecutive years.
3) The credits offer dollar-for-dollar reductions of tax and are refundable. This means that a taxpayer who doesn't pay enough tax to offset the credit can get a refund. For example, if you qualify for an $8,000 credit but only owe $5,000 in tax, you could receive a $3,000 check from the Internal Revenue Service.
4) Under the new law, as under the old, 2009 home buyers may claim the credit on either their 2008 or 2009 returns, and 2010 buyers may claim the credit on either their 2009 or 2010 returns.
5) Taxpayers do not qualify for a credit if they buy from a lineal ancestor or descendent, including parents or grandparents and children or grandchildren.
Q: What has changed?
Several important features took effect as of Nov. 6:
1) To take advantage of the tax credits, a buyer must have a contract in place before May 1, 2010, and the deal must close before July 1, 2010. No further extension is expected.
2) The price of the house is now capped. For purchases made after Nov. 6, no credit is available for any home costing more than $800,000.
3) There is now a tax credit for repeat buyers as well as for first-time buyers. Taxpayers who have lived in one residence for five consecutive years of the past eight can now qualify for a tax credit of as much as 10% of the purchase price, up to a maximum $6,500, of a new principal residence. The new home does not have to cost more than the old one.
4) Income limits for people who qualify for a tax credit are far more generous than under the previous law. For single filers, the credits now phase out between $125,000 and $145,000 of modified adjusted gross income; for married couples, the range is $225,000 to $245,000. For most people, modified adjusted gross income will be the same as adjusted gross income.
5) The new law contains anti-abuse measures designed to stem fraud, which became a problem with the previous home-buyer tax credit. Most buyers must be 18 or older, and no taxpayer may take a credit if he or she is claimed as a dependent on someone else's return. Taxpayers taking the credit will also have to furnish proof of purchase. According to Robert Dietz of the National Association of Home Builders, this will usually be a HUD-1 form.
6) People taking the tax credit, as under the old law, aren't allowed to buy a home from a lineal ancestor or descendent. The new law, applying to purchases made after Nov. 6, also says a person may not take a credit if the home is purchased from a spouse or the spouse's lineal relatives.
Q: If I bought a house last spring or summer, can I get a tax credit?
You qualify if you are a first-time buyer and meet the other requirements, but not if you are a repeat buyer. The new credit for repeat buyers applies only to purchases made after Nov. 6.
Q: What is the definition of "principal residence"?
If you own more than one home, your principal residence is usually the one where you spend most of your time. In determining residence the IRS may also consider where your family lives and your mailing address for bills and correspondence, among other factors.
Q: Can a principal residence be something besides a conventional house?
Yes. A principal residence may also be a condominium, co-op apartment, attached or semi-attached townhouse, or even—if it has eating, sleeping and toilet facilities—a boat, motor home or trailer. Manufactured homes qualify in some states.
Q: Does the person who claims the credit have to use the home as a principal residence?
Yes.
Q: If I buy a new home and live in it, do I also have to sell my old one in order to take advantage of the credit?
This is unclear. The law appears to allow repeat buyers to retain their old home, for which no tax credit was given, while claiming a credit for the new one. What is clear is that if you buy a new home using the credit, you must use it as your principal residence.
Q: How may the credits be allocated among two or more unmarried buyers?
This also is unclear. But if the IRS adopts the rules that applied to the previous tax credit, which are detailed in IRS Notice 2009-12, there is room for planning. The notice says that taxpayers may use "any reasonable manner" to allocate the credit. It even provides an example in which two unmarried buyers allocate the credit to the lower earner in order to qualify for it.
Q: I need the credit refund to help make the down payment. What can I do?
There's no rushing the IRS. But one option is to adjust your current withholding from your paychecks to reflect the fact that you will be taking the credit later. But be careful: If you don't make the purchase, then you may owe interest and penalties. Consult a tax adviser.
Q: Is it possible to qualify for a credit if I am building a home on a lot I already own?
Yes, according to the National Association of Home Builders. The purchase date is usually considered to be the date of first occupancy, so you would need to move in before July 1, 2010.
Q: May I take a credit if I am building a large addition to my home?
No; these credits apply only to the purchase of a home.
Q: Are there special rules for the military?
Yes. In general, members of the military and foreign service and intelligence communities who are serving overseas on "official extended duty" for at least 90 days during 2009 and the first four months of 2010 have an extra year to take advantage of these credits. Consult a tax adviser who specializes in this area.
Q: Where can I get more information?
Go to federalhousingtaxcredit.com, a Web site sponsored by the National Association of Home Builders. You can also look for links from the IRS's home page, www.irs.gov, or search for Homebuyer Credit. Another option is to consult a professional tax adviser.
If you currently own a home, and have lived there for five of the last eight years, you also qualify for a credit. The government is offering a $6,500 dollar tax credit for current homeowners looking to buy or build a new home. That credit is also good until the end of April, so now is the time to find your dream home or house plan so you can receive this tax credit, as well as additional rebates and credits.
A $6,500 tax credit would be a perfect down payment on a lot at Dos Rios - all you'd have to do is purchase the lot and get your construction loan going in order to qualify for the credit. Call us for more information!
Here are some answers to common questions about the new rules.
Tax Questions Answered (From The Wall Street Journal)
Q: What has stayed the same in the new law?
1) First-time home buyers still get a credit of as much as 10% of the purchase price, up to a maximum $8,000. "First-time" means people, including both partners of a married couple, who haven't owned a principal residence for three years before the purchase.
2) All taxpayers who claim a credit must use the home as a principal residence for the next three consecutive years.
3) The credits offer dollar-for-dollar reductions of tax and are refundable. This means that a taxpayer who doesn't pay enough tax to offset the credit can get a refund. For example, if you qualify for an $8,000 credit but only owe $5,000 in tax, you could receive a $3,000 check from the Internal Revenue Service.
4) Under the new law, as under the old, 2009 home buyers may claim the credit on either their 2008 or 2009 returns, and 2010 buyers may claim the credit on either their 2009 or 2010 returns.
5) Taxpayers do not qualify for a credit if they buy from a lineal ancestor or descendent, including parents or grandparents and children or grandchildren.
Q: What has changed?
Several important features took effect as of Nov. 6:
1) To take advantage of the tax credits, a buyer must have a contract in place before May 1, 2010, and the deal must close before July 1, 2010. No further extension is expected.
2) The price of the house is now capped. For purchases made after Nov. 6, no credit is available for any home costing more than $800,000.
3) There is now a tax credit for repeat buyers as well as for first-time buyers. Taxpayers who have lived in one residence for five consecutive years of the past eight can now qualify for a tax credit of as much as 10% of the purchase price, up to a maximum $6,500, of a new principal residence. The new home does not have to cost more than the old one.
4) Income limits for people who qualify for a tax credit are far more generous than under the previous law. For single filers, the credits now phase out between $125,000 and $145,000 of modified adjusted gross income; for married couples, the range is $225,000 to $245,000. For most people, modified adjusted gross income will be the same as adjusted gross income.
5) The new law contains anti-abuse measures designed to stem fraud, which became a problem with the previous home-buyer tax credit. Most buyers must be 18 or older, and no taxpayer may take a credit if he or she is claimed as a dependent on someone else's return. Taxpayers taking the credit will also have to furnish proof of purchase. According to Robert Dietz of the National Association of Home Builders, this will usually be a HUD-1 form.
6) People taking the tax credit, as under the old law, aren't allowed to buy a home from a lineal ancestor or descendent. The new law, applying to purchases made after Nov. 6, also says a person may not take a credit if the home is purchased from a spouse or the spouse's lineal relatives.
Q: If I bought a house last spring or summer, can I get a tax credit?
You qualify if you are a first-time buyer and meet the other requirements, but not if you are a repeat buyer. The new credit for repeat buyers applies only to purchases made after Nov. 6.
Q: What is the definition of "principal residence"?
If you own more than one home, your principal residence is usually the one where you spend most of your time. In determining residence the IRS may also consider where your family lives and your mailing address for bills and correspondence, among other factors.
Q: Can a principal residence be something besides a conventional house?
Yes. A principal residence may also be a condominium, co-op apartment, attached or semi-attached townhouse, or even—if it has eating, sleeping and toilet facilities—a boat, motor home or trailer. Manufactured homes qualify in some states.
Q: Does the person who claims the credit have to use the home as a principal residence?
Yes.
Q: If I buy a new home and live in it, do I also have to sell my old one in order to take advantage of the credit?
This is unclear. The law appears to allow repeat buyers to retain their old home, for which no tax credit was given, while claiming a credit for the new one. What is clear is that if you buy a new home using the credit, you must use it as your principal residence.
Q: How may the credits be allocated among two or more unmarried buyers?
This also is unclear. But if the IRS adopts the rules that applied to the previous tax credit, which are detailed in IRS Notice 2009-12, there is room for planning. The notice says that taxpayers may use "any reasonable manner" to allocate the credit. It even provides an example in which two unmarried buyers allocate the credit to the lower earner in order to qualify for it.
Q: I need the credit refund to help make the down payment. What can I do?
There's no rushing the IRS. But one option is to adjust your current withholding from your paychecks to reflect the fact that you will be taking the credit later. But be careful: If you don't make the purchase, then you may owe interest and penalties. Consult a tax adviser.
Q: Is it possible to qualify for a credit if I am building a home on a lot I already own?
Yes, according to the National Association of Home Builders. The purchase date is usually considered to be the date of first occupancy, so you would need to move in before July 1, 2010.
Q: May I take a credit if I am building a large addition to my home?
No; these credits apply only to the purchase of a home.
Q: Are there special rules for the military?
Yes. In general, members of the military and foreign service and intelligence communities who are serving overseas on "official extended duty" for at least 90 days during 2009 and the first four months of 2010 have an extra year to take advantage of these credits. Consult a tax adviser who specializes in this area.
Q: Where can I get more information?
Go to federalhousingtaxcredit.com, a Web site sponsored by the National Association of Home Builders. You can also look for links from the IRS's home page, www.irs.gov, or search for Homebuyer Credit. Another option is to consult a professional tax adviser.
Friday, November 6, 2009
Spectacular Views AND 40 acres overlooking Ute Lake
We consider ourselves, as the name implies, the purveyors of PREMIER properties at Ute Lake, and the listing I'm about to describe for you absolutely falls into that category. It has it all - amazing views of the lake, a gorgeous home with lots of room and amenities, a two-level deck that overlooks the lake and forty acres surrounding the home. The quality of the home and the views, together with the land, make this the buy of a lifetime. And when you compare the listing price with that of homes on lots less than an acre in size, the price is quite reasonable. If you're considering green living - if you want space for wind energy, solar panels, even organic gardening, this has it all!
If you don't want a home, but want the same views, we have separate forth acre tracts that would serve well as homesites, or even for developers. The subdivision laws in New Mexico require sale of at least 40 acres in order to subdivide property - these tracts would perfectly fit those requirements.
Call us today for a chance to see this amazing piece of property.
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