With all of the expense that can go into buying and selling a home, it's good to be aware of what you can claim and how a home can benefit you come tax time. When the New Year rolls around and you're sitting down to the task of completing your taxes, here are a few things that you'll want to keep in mind. Gaining from Capital Gains In the event that you've made money off the sale of your home through a capital gain, it's possible that you may be able to exclude this amount from your tax filing. If you've lived in the home you just sold for at least two of the five years before the sale date, … [Read More...]
So you've found the perfect home, the seller has accepted your offer, and now you're just waiting for the mortgage to close before you wrap up the sale and take possession. It's time for the closing meeting. But what does this meeting entail? And what do you need to prepare for it? Here's what you need to know. The Day Prior: Walking Through The Property 24 hours before the closing meeting, you'll be given an opportunity to walk through the property and do a final inspection. During this inspection, you'll be able to look for any damage that may have occurred between contract and closing, … [Read More...]
The idea of home renovations when you're selling your home can be unpopular because of the cost and time that can go into sprucing up a place you're about to leave behind. However, making a few simple, economical touches can go a long way to capitalizing on your home's value and making a difference in dollars. If you're curious about cheap options for an easier sale, here are a few that may make the deal a little sweeter. Kick Up The Kitchen A Notch With all of the time that a family spends in the kitchen, it's unsurprising that it is fast becoming one of the most important features that go … [Read More...]
Multiple economic reports released last week indicate further improvement in economic conditions. Pending home sales, construction spending and ADP payrolls increased while Non-farm Payrolls fell and the national unemployment rate held steady. The details: Pending Home Sales, Construction Spending Increase According to the Commerce Department, pending home sales increased by 0.20 percent in October as compared to September's reading of -2.30 percent. Construction spending of 1.00 percent for October exceeded September's reading of 0.60 percent growth and expectations that October's reading … [Read More...]
Most people don't know enough to sell their own house. Here's why.
1. They Can't List It! - Only licensed brokers and agents can create a listing in the MLS sale-by-owner houses will be invisible to agents and unavailable on the Web.
2. Agents Won't Show It.- Typically, a buyer's agent gets part of the commission paid to the seller's agent. Sale-by-owner houses don't have that commission commitment so a buyer's agent might not get paid. No agents makes the pool of buyers MUCH smaller.
3. It's Probably Overpriced.- Most homeowners don't have enough data and emotional distance to put a … [Read More...]
While making a real estate purchase can be a matter rife with many questions, buying to invest in a long-term property can be even more confusing. If you're looking into investing in real estate and wondering what variables to consider, here are a few tips that you'll want to keep in mind before deciding on a fruitful investment property. Be Aware Of The Market You're Buying Into Since you'll need to be aware of what other people are looking for in a property if you're diving into real estate to invest, you'll want to carefully consider the neighborhood and city that you're buying in and think … [Read More...]
