Talking Points to Identify an Agent
Having a list of talking points prepared before meeting with a real estate agent can be incredibly valuable in guiding the conversation and helping you make an informed decision about who will represent you in the sale of your home. Whether you’re a first-time seller or it has been a while since you last sold a property, asking these questions can reveal important information about the experience and expertise of your candidate. Even if you already have a trusted friend who is a real estate agent, it’s still appropriate to understand how different issues will be handled. A true...
Read MoreProtect Your Belongings with a Home Inventory
As a homeowner, you’ve likely invested a significant amount of time and money into furnishing and decorating your home with items that are important to you. Unfortunately, unexpected events like natural disasters or burglaries can result in the loss or damage of these belongings. That’s why it’s important to create a home inventory to document everything you own. This can help ensure that you’re properly insured and can help speed up the recovery process if the worst were to happen. Here’s how to construct a home inventory. First, gather your supplies....
Read MoreAvoid Taxes by Keeping Track of Improvements
Keeping track of capital improvements to your home can help you avoid taxes later down the road when you sell it. Some homeowners don’t even consider such a thing because they are aware of the capital gain exclusion of up to $500,000 for married homeowners and $250,000 for single filers. Possibly, the gain in a past sale didn’t exhaust the limit that has remained the same since 1997. Today, homes are much more expensive and appreciation in the past few years has been exceptionally high. It is now possible and maybe more likely, based on the price of the home, for a homeowner to...
Read MoreLaying the groundwork for the best mortgage
With mortgage rates having doubled what they were in early 2022, getting the lowest rate possible could mean the difference in being able to buy a home or at the very least, makes it much more affordable. Some people are waiting for rates to come down and while they are expected to come down some this year, most experts agree that they’ll never return to the three or even four percent range. There are things that a buyer can do to be eligible for the best rate available. Obtaining the most favorable terms is based on the loan-to-value, your credit rating, and your ability to repay the...
Read MoreHandling an Appraisal Gap
An appraisal gap describes the difference between the sales price and the lower amount of the appraisal required by the mortgage being obtained by the buyer. It becomes an issue if the seller is not willing to lower the price or the buyer is not willing to pay the difference in cash. Looking at the issue from the seller’s perspective, "if the buyer wants my home and he can’t get the loan he wants, he’ll have to make up the difference in cash." The buyer might have a different view like "If an independent appraiser can’t justify the price, I’m not...
Read MoreMake your home offer the most appealing
Sales in March 2023 were down 2.4% month over month and still down 22.0% year over year according to the NAR Housing Snapshot. The median sales price dipped 0.9% to $375,700 and there are 2.6 months supply of homes on the market compared to 2 months a year ago. "Inventory levels are still at historic lows, and consequently, multiple offers are returning on 28% of properties." According to Lawrence Yun, Chief Economist for the National Association of REALTORS�. It is still important to have a strategy for potentially competing with other buyers on the house you want to buy. The plan...
Read More