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First Things First

Posted by on Nov 24, 2020 in Uncategorized | 0 comments

If you are making a particular meal for the first time, it is essential to have a recipe so that it turns out the way it should. Knowing the ingredients and preparation can guide you through the process. Buying a home is really no different than making a new recipe. There are certain things that need to be done, many of which should occur in a particular order to save time, money, effort and disappointment. Your first inclination may be to start searching the Internet for homes and schedule some showings or possibly visit open houses. Even...

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More Time at Home

Posted by on Nov 17, 2020 in Uncategorized | 0 comments

We are all spending more time at home and will probably need to continue to do so for a while longer. Depending on the makeup of your family, your home is now a home office, a gym, a virtual classroom and considerably more meals have been prepared in your kitchens in the past six months than normal. Some businesses have undergone a metamorphosis that has shown them that maybe they do not need the big commercial spaces for their employees. They realize that they can be just as productive with their work force offsite which will cut expenses....

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Moving “Down” in an “Up” Market

Posted by on Nov 10, 2020 in Uncategorized | 0 comments

Selling a home and buying a lower priced home that meets your current needs can be to your advantage in an “Up” market like the current one with low inventory. The advantage is that you can maximize the price for the home you’re selling and not have to reinvest it all in your replacement. Just to illustrate the point, let’s say there is a 10% premium in the sales price of a home currently. If you’re selling a home for $750,000, it would be $75,000. If you replaced the home with a $500,000 home, the premium would...

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Cutting Your Housing Costs in Half

Posted by on Nov 3, 2020 in Uncategorized | 0 comments

Cutting the price will generally bring buyers of anything out of the woodwork that were not serious before. Some renters could easily lower their monthly cost of housing by half or more by purchasing a home with all the financial benefits that come with it. The most obvious thing in today’s market is that the mortgage payment could be less than the rent the tenants are paying. With mortgage rates hovering around 3%, this is a major factor of the savings. The two other major contributing factors are appreciation and amortization of the...

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Some Mortgage Interest May Not be Deductible

Posted by on Oct 27, 2020 in Uncategorized | 0 comments

Banks are concerned about making loans that will be repaid not about making loans that are tax deductible for homeowners. It is good business for the bank but how is the homeowner supposed to know? Most homeowners and potential homeowners are aware there are tax benefits associated with ownership. For instance, mortgage interest and property taxes have been deductible expenses from federal income tax since it was enacted in 1913. The current law provides that homeowners can deduct the interest on Acquisition Debt which is the amount of debt...

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Seven Questions to Ask Before You Choose an Agent

Posted by on Oct 20, 2020 in Uncategorized | 0 comments

The concern today when putting your home on the market should not be whether you’ll get a contract; it’s whether you are going to recognize the majority your net proceeds without any unnecessary delays. What you realize from the sale of your home has to do with maximizing the sales price while minimizing the sales expenses. Interestingly, the buyers will be trying to minimize the price they have to pay for your home and possibly, have you pay some of their expenses. Taking a few pictures with a cell phone and putting a sign in the...

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Four Things Sellers Should Do Before the Sign Goes in the Yard

Posted by on Oct 13, 2020 in Uncategorized | 0 comments

Just like buyers should be pre-approved before they begin to look at houses, Sellers should have their home pre-approved. The reasons are similar: appeal to the “right” buyers, discover issues with the home early, improve marketability, increase negotiations position and close quicker. For the seller, there are few things that need to be done before the sign goes in the yard and definitely before prospective buyers see the home. The first is to understand that once you decide to sell the home that it needs to appeal to the...

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Selling or Buying Smart Homes

Posted by on Oct 6, 2020 in Uncategorized | 0 comments

More and more homeowners are employing smart home technology within their homes. It may start with a video doorbell or lights and progress to other devices. The smart-home device market is rapidly growing and Forbes research expects it to grow from $55 billion in 2016 to $174 billion in 2025. The popularity of these high-tech features will require a few additional steps to consider when selling a home. The seller should determine which items will and will not stay with the sale of the home and identify them in the listing agreement. Confusion...

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How Does It Measure Up?

Posted by on Sep 15, 2020 in Uncategorized | 0 comments

People are always looking for a “down and dirty” way to determine the value of a home and square footage seems to be one of the most common things used by people whether they are buyers, sellers or real estate agents. While it seems straight forward, there are several variances that can lead to inaccurate determinations. The market data approach to value uses similar properties in size, location, condition and amenities to compare with the subject to arrive at a price. Differences in any of these things can affect the price per...

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It’s Worth Digging a Little Deeper

Posted by on Sep 8, 2020 in Uncategorized | 0 comments

There are hundreds of thousands of people who believe, for one reason or another, they cannot afford to buy a home currently. Some people may not for any number of reasons but it would be very surprising to know how many who can buy but have gotten some bad information along the way. It’s worth digging a little deeper to find out the facts. John and Karen have been renting a home for the last five years at $2,000 a month. During that time, the value of the home they were renting went up by $30,000 in value while the unpaid balance...

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