cortland standard realestate listingscortlandstandard.net/images/real estate/03142019...beautiful...

Dana DeckerPrincipal Broker, GRI(c) [email protected]

Corrie OustadAssoc. RE Broker

(c) [email protected]

Marinda MeyersRE Coordinator


Joanne M. SweeneyAssoc. RE Broker


Carrie St.PeterRE Salesperson


Michelle ReynoldsRE Salesperson


Adele FetterlyRE Salesperson


Jenna GregoryRE Salesperson


Rosemary TaboneAssoc. RE Brkr., CBR (c) [email protected]

Susan BriggsAssoc. RE Broker


Kaitlin BerryRE Salesperson


Tom CumminsAssoc. RE Broker


Trevor SydneyRE Salesperson


David DonlickAssoc. RE Broker


Diann Potter Assoc. RE Brkr., CBR (c) [email protected]

Sally Brown KurtzAssoc. RE Brkr., CBR, GRI(c) [email protected]

Gugulethu PinckneyRE Salesperson


EstateCortland StandardReal

Thursday, March 14, 2019

Featured Listings

HeritageRealty Hage

Real Estate

Howard Hanna Real Estate

YamanReal Estate

Featured HomeSprawling hillside Colonial on a double lot for added privacy. Four bedrooms including the mas-ter suite with full bath. Two �replaces with one in the partially �nished basement. First �oor laundry. Hardwood �oors. Abundant storage throughout including large second �oor walk-in closet. Beautiful views and rear deck to enjoy the wildlife. Convenient location close to shopping, services, Rt. 81 and Ithaca. MLS# S1173346. $210,000. Call Susan Briggs, Lic. Assoc. RE Brkr., 607- 745-3355, at Heritage Realty. For this listing and more visit www.hometoheritage.com or call Heritage Realty, 607-428-0708.

– 4079 Highland Road, Cortlandville

2A — Cortland Standard, Thursday, March 14, 2019 Real Estate

HOURS:MON.-FRI. 8:30AM-5:00PM

SAT. 9AM-1PM, OR CALL FOR AN APPOINTMENT!

LindaMuirheadSalesperson423-4256

Sue Sherman-Broyles

Salesperson227-0532

SteveCinquantiAssoc.Broker/

Commercial Sales423-7800

NickiWynn

Assoc. Broker/Office Manager745-3942

SandyLudwig

Assoc. Broker745-5181

The Premier Name in Real Estate185 Clinton Avenue, Cortland, NY 13045

(607) 753-9644For a complete list of homes for sale, visit:www.yaman.com

It hasit all.

MLS #S1150819$132,900

Call Linda Muirhead

HOMER

Wonderfullayout.

MLS #S1175800$45,000

Call Terry Howell

TULLY

Cozy ranchhome.

MLS #S1175533$89,500

Call Nicki Wynn

CORTLAND

Beautiful naturalwoodwork.

MLS #S1106153$89,900

Call Kathie Wilcox

CORTLANDVILLE

Create yourcustom home.MLS #S316687

$265,000Call Jamie Yaman

McGRAW

Cathedralceiling.

MLS #S1099304$69,000

Call Joan Plew

McGRAW

Customize yourdream home.MLS #S316650


CORTLANDVILLE

Largekitchen.

MLS #S1131447$169,900

Call Tim Alger

SOLON

Only minutesfrom town.

MLS #S1172402$64,900

Call Pam Williams

CORTLANDVILLE

New custom-builthome.

MLS #S1130258$575,000

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Lovely enclosedporch.

MLS #S1151668$79,000

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MARATHON

Fullyremodeled.

MLS #S1161956$115,400

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Greatlocation.

MLS #S1161112$33,000

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VIRGIL

Income propertyopportunity.

MLS #S1160509$133,000

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Ranch stylehome.

MLS #S1143623$159,900

Call Nicki Wynn

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Move-incondition.

MLS #S1158299$81,200

Call Kathie Wilcox

CORTLAND

13 Week shares atHope Lake Lodge.

MLS #S1158361$40,000

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VIRGIL

Comfortablecountry home.MLS #S1128804

$85,000Call Ingrid Dunham

MORAVIA

Wrap-aroundporch.

MLS #S1152427$75,000

Call Karina Murphy

CORTLAND

Two ForOne!

MLS #S1144858$165,000

Call Nicki Wynn

HOMER

TerryHowell


JamieYaman

Principal Broker423-1369

Our mission at Yaman Real Estate is to be the most respected, reliable, and effective real estate service provider available.

TOP AGENT OF PERFORMER THE MONTH

CORTLANDVILLE

Two carattached garage.MLS #S1174035


CORTLAND

TracyKoenig

Salesperson423-9745

KathieWilcox


ConstanceMack


NEW

LISTIN

GN

EW

PRICE

Karina MurphySalesperson379-9815

PamWilliamsSalesperson745-3731

JoanPlew


Original hardwoodfloors.

MLS #S1164326$109,900

Call Tracy Koenig

CINCINNATUS

Easy countryliving.

MLS #S1154757$69,900

Call Terry Howell

CORTLAND

Rarefind.

MLS #S1168008$329,000

Call Pamela Cullip

CORTLANDVILLE

AudreyGalutz

Salesperson345-8464

PRICE

REDUCED

TimAlger


AngelaWilde

Salesperson662-3397

IngridDunham

Salesperson591-9216

Pamela CullipSalesperson261-0439

PRICE

REDUCED

NEW

LISTIN

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Howard Hanna Featured Property

Have you ever wanted the privacy of living in the country and still feel like you’re in a neighborhood? This home has it all. Situated on 1.4 acres, this 4 bedroom, 2 bathroom ranch has privacy, woods, beautiful views and a walkable neighborhood. And, it’s all located minutes from Cornell, Ithaca and Dryden and has natural gas and municipal water. MLS# 315951. $234,000. Call Howard Hanna Real Estate Services at 607-257-0800.

Real Estate CornerCortland CountyBoard of Realtors

The Cortland County Board of Realtors®

— The Voice of Real Estate

While many people know that a Re-altor helps buy and sell homes, what they may not know is that only a Re-altor is a member of the National As-sociation of Realtors and subscribes to its Code of Ethics. It’s the Realtor Code of Ethics that inspired the asso-ciation’s powerful new “That’s Who We R” campaign, which launched in

February.The campaign aims to reinforce

the value of Realtors as advocates for property owners, engaged community members and trusted advisors with in-depth knowledge of the industry.

“‘That’s Who We R’ serves as a reminder of what NAR has always stood for, while signaling where the organization is heading. For Real-tors, the campaign is a rallying cry that instills pride in their everyday actions. For consumers, it’s an edu-

cation about the Realtor difference,” said Shuryl Menapace, 2019 CCBR president.

The integrated marketing campaign from Havas features a cinematic world inspired by the Realtor mark that serves as a beacon throughout. Ev-erything from the larger than life “R” at the beginning, to the angles and ge-ometry used as transitional elements and across the numerous sets was inspired by the mark that sets Real-tors apart. The agency partnered with

Director X, known for his visually distinctive style, to create something distinct and modern. “That’s Who We R” features compelling stories about humans helping humans find homes and property, build communities and turn business dreams into realities.

The campaign content will be brought to life through strategic partnerships reflecting the modern ways in which our target audience consumes media, including linear and online video, streaming and ter-

restrial audio, social media, branded partnerships with multi-channel con-tent makers such as VICE, Apartment Therapy, The Atlantic, HULU and more. The :30 “That’s Who We R” TV spot can be viewed here, and more in-formation about NAR is available at www.nar.realtor.

————To see local market reports, search

listings, or to find a local REAL-TOR®, please visit www.cortlandmls.com.

NAR unveils ‘That’s Who We R’ campaign

Source: Scarborough Research (Top 50 Market Report)

By JaCk GuTTEnTaGThe Mortgage Professor (TnS)

A few simple changes in financial regu-lation could pay huge dividends to home-buyers and retirees. Better still, they could be implemented by executive orders that do not require funding by the govern-ment or the concurrence of Congress. I’ll be discussing them in this and following columns.

Today I’ll discuss title insurance, which every mortgage borrower has to pur-chase. A simple executive order from the president to the Federal Housing Finance Agency, when fully implemented and digested, could save borrowers at least $7 billion a year.

The executive order would direct FHFA to instruct Fannie Mae and Freddie Mac to require lenders originating loans for sale to the agencies to pay for title insurance that protects themselves. This would end the practice of requiring borrowers to pay for the insurance that protects the lender. Borrowers would continue to have the option of buying insurance that protects themselves.

While the new rule would apply only to conforming loans, which are those eligible for sale to Fannie and Freddie, it would spread quickly to the smaller market for non-conforming loans.

InanIty of the current practIceTo appreciate the inanity of having a

buyer pay a seller’s cost, consider what would happen if that practice were used in a more familiar market _ such as the automobile market. Suppose that indus-try adopted the practice of pricing cars without tires, requiring that tires had to be purchased by the buyer in a separate trans-action, from a tire seller approved by the dealer. Then the cost of the tires, instead

of being embedded in the price of the car, would be paid for separately by the car buyer. This would mirror exactly the way that title insurance is transacted.

If this were to happen, the existing high-ly competitive market for tires would be replaced by a dysfunctional market, and the price of tires would soar.

In the existing market, car manufactur-ers negotiate the lowest tire prices pos-sible because tires are one of their costs. Further, they have the knowledge and bar-gaining power to obtain the best competi-tive prices. But if car buyers had to pur-chase tires separately, competitive pricing would disappear.

Tires sold separately would become a separate source of profits to car dealers, who would be positioned to refer car buy-ers to favored tire dealers. The price of tires would rise to accommodate the mar-keting costs incurred by tire sellers in so-liciting the favor of dealers, which would come to include explicit or disguised kick-backs.

Since kickbacks are viewed as odi-ous, left-wing legislators might attempt to make them illegal. If they succeeded, right-wing legislators might attempt to authorize legal ways to accomplish the same objective, including joint ventures between automobile dealers and tire dis-tributors.

Fortunately, this is all hypothetical as it applies to automobile tires, but it ac-curately describes the dysfunctional title insurance market, including the Federal Government’s response to date.

the problem Is not the absence of competItIon

When markets don’t work well, it is of-ten attributed to lack of competition, but that is not the problem with title insur-

ance. Competition in this market is fierce, but it is directed not at borrowers but at the lenders, Realtors and builders who have referral power. Competition directed at referrers tends to raise prices rather than reduce them because it raises marketing costs, and because many referrers expect to be compensated.

Existing federal government policies miss the point. There are two. One is to declare the payment of referral fees to be illegal. Enforcement of this rule by HUD is difficult because there are so many play-ers, and because there are so many ways that one party can provide something of value to another.

The second policy is to provide a safe harbor, called an “affiliated business ar-rangement,” or ABA. To take advantage of this provision, the title agent forms a new agency owned jointly with a referring lender or realtor. Referrals to this new en-tity are legal, and the referrer can profit in proportion to its ownership share.

ABAs are a costly way to pay referral fees legally. To minimize the costs, the new agency may be only a facade, with the work actually done by another agency. These are deemed shams and unaccept-able by HUD.

Title insurance costs to borrowers will not be lowered by trying to enforce rules against the payment of referral fees, or by forcing referrers to incur high costs in or-der to legalize these payments. The solu-tion is to eliminate referral power by re-quiring the referrer to pay for the policy.

———aBOuT THE WRITER

Jack Guttentag is professor emeritus of fi-nance at the Wharton School of the Univer-sity of Pennsylvania. Comments and ques-tions can be left at www.mtgprofessor.com.

Changes that could help homebuyers

++

Cortland Standard, Thursday, March 14, 2019 — 3AReal Estate

JoAnnZech

Lic. Assoc. RE Broker

JerryHartnett


JasonHage


Rose “Marie”Ferro

Lic. RE Slsp.

DeannaDaley

Lic. RE Slsp.

SeanMack


JohnAspinwallLic. RE Slsp.

JaimieBeers

Lic. RE Slsp.

Michael “Mike”Hartnett

Lic. RE Slsp.

NebHage

Principal Broker

CONGRATULATIONSTo The Top Agents for February,

Jerry and Marie!4070 West Road (Rte. 281), Cortland, NY 13045607-753-6766

6151 ROUTE 2814 Bedrooms/2 Baths

Walk to Little York Park

$189,000MLS# S1170793Call Marie c. 423-0888

LITTLE YORK

4343 COSMOS HILL RD.4 Bedrooms/4 Baths

Executive ranchon 1.7 acres$295,000

MLS# S1173805Call Mike c. 423-3685

CORTLANDVILLE

21 HAMLIN ST.4 Bedrooms/2 BathsWest end charmer

$142,500MLS# S1175439Call Mike c. 423-3685

CORTLAND

6897 N. GLEN HAVEN RD.3 Bedrooms/3 Baths88’ level lakefront

$499,000MLS# S1143099Call Jerry c. 423-4278

SKANEATELES LAKE

1031 ROUTE 2213 Bedrooms/1.5 BathsA great place to start

$99,500MLS# S1125288Call Sean c. 745-5407

HARFORD

185 PORT WATSON ST.2 FAMILY

Be your own landlord

$99,900MLS# S1111981Call Jaimie c. 283-6324

CORTLAND

3690 PAGE GREEN RD.3 Bedrooms/2 Baths

Country living,city convenience

$220,000MLS# S1156575Call John c. 745-5407

CORTLANDVILLE

104 LINDERMAN AVE.4 Bedrooms/1.5 Baths

Convenient village location

$99,900MLS# S1121233Call John c. 745-5407

GROTON

15 W. MAIN ST.BUSINESS OPPORTUNITY

3,000+ sq. ft.,ample parking$225,000

MLS# S1175677Call Marie c. 423-0888

DRYDEN

2831 CINCINNATUS RD.4 Bedrooms/1.5 Baths

2,300 sq. ft.,.6 acre lot$69,900

MLS# S1111963Call Deanna c. 345-7036

CINCINNATUS

TEAM HAGE...Quality Agents – Quality Service

We Sell Results –Not Promises!

For Full Details ofHomes For Sale, Visit

www.hagerealestate.com

It’s A Seller’s Market!

For Top PriceNow

Is The Time!

Call Us For A FreeMarket Value of Your Home

607-753-6766

HAGEREAL ESTATE

SOLD on Cortland County!

Heritage Featured Property

2012 Alpha Circle #7E, Virgil. $90,900. LOOKING FOR THE PERFECT HOME THAT FACES THE SLOPES? Look no further! This home has been updated inside and out to offer you the best possible version of the condos at Greek Peak. Room to sleep 8+ people, and lots of extra living space with 2 full bathrooms to accommodate everyone. Watch the people on the hill from your living room cuddled up next to the �replace. The perfect location and priced to sell. Get in now before the snow �ies so you can take full advantage of the entire winter season. MLS# S1145963. Call Dana Decker, Principal Broker, GRI, (c) 607-423-4719, at Heritage Realty. For this listing and more visit www.hometoheritage.com. Heritage Realty, 607-428-0708 office.

By Kelly Anne SmithBankrate.com (tnS)

What’s worse than not getting a tax refund? Getting slapped with a hefty tax bill instead.

New federal income tax laws have gone into effect this year, confusing many taxpayers as they start filing. As withholding tables, deductions and credits have changed, many Americans are fraught over the realization that they may not be getting a refund this year.

Instead, some taxpayers might end up owing a sizable tax bill that they just can’t pay — leav-ing them scrambling to figure out what to do next.

The realiTy of being hiT wiTh a surprise Tax bill

Owing money to the govern-ment is a harsh reality that 21 percent of Americans are ex-pected to face this year, up from 18 percent in 2018, according to the United States Government Accountability Office.

Many Americans rely on their tax returns as a major financial windfall. The Social Service Re-view, an academic journal focus-ing on social welfare policy and practice, states the majority of families who receive an Earned Income Tax Credit of at least $1,000 planned to use the funds to pay off outstanding bills and debt.

“Tax refunds help many low-er-income families deal with their mounting financial obliga-tions... So it is no wonder that so many Americans are so attached to their tax refunds,” The Brook-ings Institute, a nonprofit public-policy organization in Washing-ton D.C., says in a related blog post.

According to Bankrate’s January 2019 Financial Secu-rity Index survey, 60 percent of Americans can’t afford to pay for a $1,000 emergency with

savings. In 2017, the Federal Reserve found a similar, and just-as-alarming statistic: 40 percent of adults can’t cover a less significant — but still dire — emergency of $400.

Here are four options taxpay-ers can take, should they be un-able to pay their tax bill in full:

paymenT plansPayment plans are specific to

each individual’s tax situation. These plans include short-term (120 days or less) or long-term (more than 120 days) agree-ments.

While these plans can be a flexible option, consumers should be aware that they come at a price.

Short-term plans have no set-up fee, but accrue penalties and interest until the balance is paid in full. Long-term plans cost

$31 to originate and also accrue interest and penalties. Inter-est rates for the first quarter of 2019 sit at 6 percent. Set-up fees can vary depending on payment method (automatic withdrawal or payment via credit or debit card). Set up fees may be waived for low-income taxpayers at or below 250 percent of the federal poverty level.

The penalty for late payment is 0.5 percent of the taxpayers’ unpaid taxes per month, accord-ing to the IRS. This percentage can accrue to as much as 25 per-cent of unpaid taxes.

offer in compromiseSome consumers can qualify

for an offer in compromise. This means the IRS settles the tax debt for less than what is owed, but there are strict requirements in order to qualify for the ar-

rangement. The IRS will take into consideration a taxpayer’s ability to pay, income, expenses and asset equity.

“We generally approve an offer in compromise when the amount offered represents the most we can expect to collect within a reasonable period of time,” the IRS says on its web-site. “Explore all other payment options before submitting an of-fer in compromise.”

The IRS also notes that a tax lien may be filed on someone who is being evaluated or has received an offer in compro-mise. These liens can be put on property, making it difficult for consumers to sell their home, refinance a mortgage or get a HELOC.

What to do if you owe taxes and can’t afford to pay them

Dreamstime/TNSThanks to tax law changes, some taxpayers might end up owing a sizable tax bill that they just can’t pay.

See tAXeS, page 4A

By hAllie millerthe Baltimore Sun

Forget cheesy pickup lines. The sexiest thing you can say to a potential mate in 2019? “I own my own house.”

A recent survey suggests that owning a house makes you more attractive to potential mates.

Conducted by real estate listings site Realtor.com, the study finds that nearly 60 percent of millennial singles agreed that homeown-ership boosts attractiveness. More than any other generation, 26 percent of the age group also indicated it was either important or very important for their significant other to own a home.

Of the 500 people who identified as single in the survey, nearly half felt that homeownership made would-be partners attractive.

“This survey data suggests that many ... perhaps (use) it as a sig-nal for financial savviness and success,” said Danielle Hale, Real-tor.com’s chief economist in a statement.

If home ownership is hot right now, then Baltimore women are on fire.

Single female homeowners make up more than 21 percent of all women in the metro area, according to the study. Baltimore ranks second behind Detroit among the top cities with the highest shares of single female homeownership, according to Realtor.com.

The survey suggests that other markets in the South and Midwest with strong job opportunities, growing economies and affordable home prices tend to attract young female professionals seeking to buy a home and take on a mortgage, citing Charlotte, N.C., Phila-delphia and Minneapolis as the cities behind Detroit and Baltimore with the largest shares of unmarried female homeowners.

Realtor.com also notes that single women are one of the fastest growing demographics in the housing market.

Detroit also leads the way in single male homeownership, fol-lowed by St. Louis, Minneapolis, Cleveland and Pittsburgh. These mostly Midwestern cities share relatively low listing prices as well as high volumes of young people mixed into the population, ac-cording to the survey.

More women than men acknowledged a correlation between ho-meownership and attraction, at 48 percent to 43 percent, respective-ly. Women also were more likely to answer that it was important or very important for their partners to own homes compared to their male counterparts, 29 percent to 19 percent.

Singles who own homes may be more attractive

4A — Cortland Standard, Thursday, March 14, 2019 Real Estate

Cozy Up to a Home of Your Own

Federally Insured by NCUA. All loans subject to approval.*Some credit-related restrictions and eligibility conditions may apply.

VISIT one of the six CFCU branches with a mortgage expert CALL 800-428-8340 CLICK

Apply online OUR TEAM OF EXPERTS

East HillKimberly Rozell(607) 257-3282 [email protected] TriphammerKate Barth (607) 257-3282 [email protected] Port Watson & Route 281Nicole Cottone(607) [email protected] Seneca WayMissy Park(607) [email protected]

Jayne Ellis (607) 257-3282 [email protected]

NMLS #299582

anytime – in less than 10 minutes. CFCU Community Credit Union can help you achieve your dreams of homeownership. Own your own home and make an investment in your family’s future – all at a great rate!

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HOMER

Amaz i ng HomeIn a quiet peaceful setting. 2 bedroom 1 bath home has some new updates.

Sits on 4.5 acres.** Shuryl Menapace

c.607.423.3842MLS S1176229 $100,000

DRYDEN

Well maintained home with income generating apartment. Main house 3

bedrooms, 2 full baths. *** Jolene Rightmyer-Maco i

c.607.339.1559MLS 315855 $339,000

Qu i e t C u l - D e - S a c

***Assoc. R.E. Broker **R.E. SalespersonMLS # IBR/CBR*Money Back Guarantee, certain restrictions apply.

4 bedroom 4 bath Condo. 3-Level living with 4 decks and 2 patios. Year round activities just a minute’s walk.*** Jolene Rightmyer-Macolini

c.607.339.1559MLS 315451/S1165506 $350,000

C O RTLAN D

C O RT LAND

C or t l a nd ’ s Wes t EndTwo family home has been well main-

tained. Both apartments have own porches and sep rate entrances.

*** Amy Cobbc.607.423.6766

MLS 316003/S1175831 $129,900

CORTLAND

3 bedroom home with galley kitchen, spacious living room/dining room

and beautiful stone �replace. ** Shuyrl Menapace

c.607.423.3842MLS 314926/S1151247 $298,900

Amaz i ng Con t empo ra r y

C I NC I NNATU S

4 bedroom, 3 bath home with formal living room, dining room, family

room and o�ce. ** Shuryl Menapace

c.607.423.3842MLS 315070/S1154575 $109,000

Lo t s o f Ch a ra c t e r

C O RTLAN DV I L LE

3-4 Bedroom Cape Cod house in a convenient location. 3 season sun-

room and lots of storage. ** Christopher Washburn

c.518-593-9146MLS315962 $129,900

Grea t Cond i t i o n

36 Main Street, Cortland NY 130452333 N Triphammer Road Suite 1 and 710 Hancock Street Ithaca, NY 14850

607-257-0800CORTLAND

Contemporary move in ready home. Features 3 bedrooms and 3 bathrooms.

Great location.** Shuryl Menapace

c.607.423.3842MLS 315365/S1162849 $239,000

2 S t o r y Home

Look for the "MBG" to indicate participating properties!

Look for the "MBG" to indicate participating properties!If the buyer of a guaranteed home listed by back the home for 100% of it’s purchased price. *Certain restrictions apply.

Look for the "MBG" to indicate participating properties!If the buyer of a guaranteed home listed by Howard Hanna is not satisfied, we will buy back the home for 100% of it’s purchased price. *Certain restrictions apply.

Look for the “HSA” to indicate participating Home Warranty properties!

for making us the #1 real estate

company in New York State.

www.HowardHanna.com/GoGreen

Greek Peak Resor t

Yaman Featured Property

NEW LISTING! 92 Wheeler Ave., Cortland. WHY PAY RENT? Check out this cozy ranch home in a nice city loca-tion with large fenced yard, deck with an above ground pool and detached garage. Easy �rst �oor living with two bed-rooms, newer furnace, roof and vinyl windows make this a great value! MLS# S1175533. $89,500. Call Nicki Wynn, Lic. Assoc. RE Brkr., (607) 745-3942.

Hage Featured Property

NEW LISTING! West End Charmer! This beautiful 4BR/2BA home is full of extras. Welcoming foyer, HW �oors, formal LR, FR, huge eat-in kitchen, formal DR, 1st �oor laundry, �nished attic, perfect for a playroom or office, huge 2 story barn/garage, and more, in a great location. Don’t hesitate! $142,500 ~ MLS# S1175439. 21 Hamlin St. ~ Cort- land. Call Jerry Hartnett, Lic. Assoc. RE Brkr., c. 607-423-4278, Hage Real Estate. For this listing and others visit www.hagerealestate.com or call 607-753-6766.

TAXEScontinued from page 3A

By AdriAn d. GArciABankrate.com (TnS)

National foreclosure rates continued their recovery in 2018 from their peak during the Great Recession.

Foreclosure filings were re-ported on one out of every 215 homes last year. That’s down markedly compared with the filings on roughly one in 47 homes in 2010. Last year’s rate is the lowest since at least 2005.

The 2018 U.S. Foreclosure Market Report shows the na-tional foreclosure rate has been falling steadily for the last eight years, reaching a 13-year-low of 0.47 percent in 2018.

However, the foreclosure picture can look different at the state level.

Almost a third of states saw the number of foreclosure fil-ings — default notices, sched-uled auctions and bank repos-sessions — against homes climb last year, according to the report from ATTOM Data Solutions.

“Plummeting foreclosure completions combined with consistently falling foreclosure timelines in 2018 provide evi-dence that most of the distress from the last housing crisis has now been cleaned up,” says Todd Teta, chief product officer for ATTOM.

But some evidence of distress

was gradually returning to the housing market in 2018, Teta says.

The states with the highest foreclosure rates were clustered in mostly in the Northeast.

New Jersey has had the high-est rate since 2015 and had 1.33 percent of housing units with foreclosure filings last year. Delaware had 0.96 percent; Maryland 0.86 percent; Illinois 0.74 percent and Connecticut 0.72 percent.

North Dakota was among the places where foreclosure rates increased from 2017 to 2018. But the Roughrider State’s real estate economy remains strong comparatively.

North Dakota had the lowest rate of housing units with fore-closure filings last year (0.06 percent). South Dakota had 0.07 percent; Montana 0.11 percent and West Virginia 0.12.

Alaska’s economy has been struggling in recent years after oil prices dipped in 2014, but the state’s real estate market has proved fairly resilient, ac-cording to Terry Fields, assis-tant professor at the College of Business and Public Policy

within the University of Alaska Anchorage.

The data from ATTOM shows homeowners in The Last Fron-tier may be starting to feel the pressure. A total of 1,145 prop-erties were in the process of foreclosure in 2018 — up from 614 in 2017.

The foreclosure rate in Alaska grew the fastest of all 50 states, rising from 0.20 percent in 2017 to 0.37 percent last year, according to ATTOM.

While local economists are keeping an eye on Alaska’s real estate market, foreclosures are still significantly below the lev-els they were during the Great Recession and previous bust periods in Alaska, Fields says.

———Visit Bankrate online at www.

bankrate.com.———

(c)2019 Bankrate.comDistributed by Tribune Con-

tent Agency, LLC.

Foreclosure rates continue gradual recovery

Request a tempoRaRy delay in collection

This option depends solely on whether the IRS believes that a wage earner, small business owner, or self-employed individual “can-not pay any” of their tax debt.

Eligibility for a temporary delay in collection is determined by a taxpayer completing a Collection Information Statement form and providing proof of financial status, including information about assets and monthly income and expenses. This option is for individuals who will be unable to pay for necessi-ties, like food and housing, should they pay their tax bill.

Even if your debt collection is delayed, the IRS will enforce a penalty and interest will accrue until you pay the full amount. A federal tax lien might also be filed against your name.

use caution when paying a tax bill with cRedit

The IRS does accept credit cards for tax bills through a third party. After convenience fees and interest, putting a tax bill on plas-tic adds up to a much larger cost.

According to the IRS, credit card convenience fees for paying a tax bill range from 1.87 to 1.99 percent.

Just because you have the option to use credit to cover your taxes, doesn’t always mean you should. Greg McBride, chief financial an-alyst at Bankrate, says this method can only be appropriate in certain situations. He recommends keep-ing interest rates from both your credit card issuer and the IRS in mind.

“In some instances, it can be beneficial to pay your tax bill with a credit card — as long as the value of the reward points earned exceeds the convenience fee and you pay the card balance in full,” McBride says. “But it is not wise to finance a tax bill at a credit card’s double digit interest rates when the IRS is currently charging a rate of just 6 percent on overdue taxes.”

Additionally, using a personal loan to cover your tax bill could be of risk. Those considering a loan should compare interest rates with those available from the IRS, and make sure monthly payments fit into their budget.why Recent tax law changes

have caused unsteadinessThe new tax-law changes were

a result of the Tax Cuts and Jobs Act. Passed in December 2017, the legislation introduced new tax brackets and increased the stan-dard deduction. Additionally, the personal exemption was elimi-nated and there were sharp limits placed on itemized deductions. These changes may have led to lower withholdings for many tax-payers who failed to adjust their Form W-4.

The new law also reduces taxes on average for all income groups; about two-thirds of households are getting tax cuts, equating to about $1,600, according to the Tax Poli-cy Center. Meanwhile, only about 5 percent of taxpayers are paying more.

With lower tax rates, most Americans were expecting bigger paychecks.

But many people — possi-bly confused by the new tax law changes — didn’t accurately ad-just their withholdings.

The number of incorrect with-holdings was high enough for the IRS to waive penalties for some, acknowledging some taxpayers “didn’t have enough tax withheld” throughout the year.

As more filings are processed, the average refund continues to remain lower than last year’s. As of February 15, the average refund was down 16.7 percent compared to last year; the amount of households filed compared to this time last year was also down 4.8 percent.

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