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Raich Montana Properties Lists Dennis Quaid’s Montana Ranch

Posted April 15, 2013

Quaid’s Paradise Valley Ranch (also referred to as “Camp Warren Oates”) is an absolutely gorgeous recreational ranch property situated on 418 +/-acres in one of the most beautiful valleys in southwestern Montana. The ranch sits at the base of Emigrant Peak near Dailey Lake, approximately 30 miles from the north entrance to Yellowstone National Park.

“The backyard is basically Yellowstone Park,” says Quaid.

Breathtaking views, approximately two miles of fishable Six Mile Creek, two trout ponds, and miles of riding and hiking trails will satisfy the avid outdoor enthusiast.  The diverse and spectacular terrain of the ranch spans from native grassland to the forested mountains which provide access to the 930,000 acre Absaroka/Beartooth range and neighboring Gallatin National Forest. The habitat supports a variety of wildlife including wintering elk herds, migrant and upland birds, moose, white tail deer, beaver, otter, bears and mountain lions.  Paradise Valley is a mecca for outdoor enthusiasts. The mighty Yellowstone River flows through Paradise Valley providing some of the finest fly fishing in the world as well as an inviting playground for kayakers and rafters.

Steeped in history… there are remnants of old gold mines to explore. In the past, parts of the ranch belonged to director Sam Peckinpah and actor Warren Oates, who were friends and spent time together at the ranch. Quaid has owned the property since the 80’s.

While Quaid’s ranch is rugged and wild, historic Chico Hot Springs, and the charming yet progressive town of Livingston are nearby offering activities for the whole family. The improvements are an impressive example of timeless harmony, and rustic elegance where an abundance of contemporary conveniences have been integrated into the natural landscape. The 5300 square-foot, four-bedroom, three-bath main house that Dennis built in 2000 was featured in Architectural Digest in 2003. Additional improvements include an observatory, four charming guest houses, wine cellar, ranch manager quarters, and horse facilities making this a truly exceptional Montana retreat.

Rich in amenities, the ranch presents a unique investment opportunity for the discerning buyer seeking a spectacular recreational property in the Livingston Montana area. List Price: $8.6 Million

How The Fiscal Cliff Legislation Affects Real Estate

Posted January 5, 2013

NAR Government Affairs summary of “fiscal cliff” legislation as passed by the House and the Senate. President Barack Obama has signed the agreement into law.

Real Estate Provisions in “Fiscal Cliff” Bill

Below is a summary of real estate related provisions in the bill:

Real Estate Tax Extenders
• Mortgage Cancellation Relief is extended for one year to Jan. 1, 2014
• Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and made retroactive to cover 2012
• 15 year straight-line cost recovery for qualified leasehold improvements on commercial properties is extended through 2013 and made retroactive to cover 2012.
• The 10 percent tax credit (up to $500) for homeowners for energy improvements to existing homes is extended through 2013 and made retroactive to cover 2012.

Permanent Repeal of Pease Limitations for 99% of Taxpayers

Under the agreement so called “Pease Limitations” that reduce the value of itemized deductions are permanently repealed for most taxpayers but will be reinstituted for high income filers. These limitations will only apply to individuals earning more than $250,000 and joint filers earning above $300,000. These thresholds have been increased and are indexed for inflation and will rise over time. Under the formula, the amount of adjusted gross income above the threshold is multiplied by three percent. That amount is then used to reduce the total value of the filer’s itemized deductions. The total amount of reduction cannot exceed 80 percent of the filer’s itemized deductions.

These limits were first enacted in 1990 (named for the Ohio Congressman Don Pease who came up with the idea) and continued throughout the Clinton years. They were gradually phased out as a result of the 2001 tax cuts and were completely eliminated in 2010-2012. Had we gone over the fiscal cliff, Pease limitations would have been reinstituted on all filers starting at $174,450 of adjusted gross income.

Capital Gains

The Capital Gains rate stays at 15 percent for those at the top rate of $400,000 (for individuals) and $450,000 (for those filing a joint return). After that, any gains above those amounts will be taxed at 20 percent. The 250/500k exclusion for sale of principle residence remains in place.

Estate Tax

The first $5 million dollars in individual estates and $10 million for family estates are now exempted from the estate tax. After that the rate will be 40 percent, up from 35 percent. The exemption amounts are indexed for inflation.

Source: National Association of Realtors

On January 2, 2013, in Breaking News, Politics & Government, by Robert Freedman
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