Real Estate Information

  In most television commercials advertising milk,

a mixture of white paint and a little thinner

is used in place of the milk.

A family pet often represents a major challenge when a house is being marketed. Your family may call your large dog "Fido"-- but your real estate agent calls him "Fang"! This is a sensitive issue for a real estate agent to communicate to sellers.

Even though he is just doing "his job", a dog's bark will sound ferocious to anyone who is knocking at the door. This is usually a good thing, but when your home is on the market, real estate agents will be bringing a lot of strangers to the door. Most agents are concerned about the unpredictability of dogs they don't know. When they are greeted by a barking dog, they may not be willing to enter the house unless the owner is at home. If your dog is confined to part of the house, such as a basement, be sure to put up a sign informing people of that fact.

Talk with your real estate agent about the best way to manage your pet while your house is being shown, and make sure that this information is included in the MLS listing.

Pricing your home is one of the most important decisions you must make when selling your property. Some sellers want to price their home based on the return they would like on their initial investment, while others will base the price on what they need to buy their new home. Location, condition, and accessibility are three other variables that will affect the price of a property.

It is crucial to price your home correctly from the beginning, because it may not sell if it is overpriced. Don't make the mistake of thinking that you can reduce the price later. By this time you will have already lost many potential buyers. The motivation of the seller is a very important factor affecting the pricing decision. The higher the seller's motivation, the lower the price, and low motivation usually means a higher price.

The state of your local real estate market is one of the strongest determining factors when pricing your home. A professional real estate agent will be able to guide you through the pricing pitfalls with a written market analysis that includes the selling prices for similar homes in your area.

Information provided by Terry Light & Real Estate ABC ©2000
 

Realtors are quick to point out that home ownership allows a lot of tax advantages not available to someone who merely pays rent. A homeowner can deduct points used to obtain a mortgage when buying a home, mortgage interest paid during the year, and property taxes.

To find out what is deductible when buying a home, click here. This article is about deductions during home ownership.

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Information provided by www.HUD.gov | January 2012

Discrimination in mortgage lending is prohibited by the federal Fair Housing Act and HUD's Office of Fair Housing and Equal Opportunity actively enforces those provisions of the law. The Fair Housing Act makes it unlawful to engage in the following practices based on race, color, national origin, religion, sex, familial status or handicap (disability):

• Refuse to make a mortgage loan
   
• Refuse to provide information regarding loans
• Impose different terms or conditions on a loan, such as different interest rates, points, or fees
• Discriminate in appraising property
• Refuse to purchase a loan or set different terms or conditions for purchasing a loan  
  
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January Foreclosure Market Trends Report

Attached is our latest issue of the Market Trends e-Newsletter, informing you of the most up-to-date foreclosure trends and properties. 

For information,  CLICK HERE

Don't Go Shopping for a New Home Before You Know Exactly How Much You Can Spend!

You might have an idea of the loan payment and mortgage you can afford. But will the bank feel otherwise? It's always best to pre-qualify for a mortgage so you know exactly how much a financial institution would be willing to lend you.

​To pre-qualify for a mortgage, you meet with a lender and provide information about your assets, income and liabilities. Based on that information, the lender will roughly estimate how much money you can borrow. The entire process is informal. The lender does not verify the information provided, nor charge you a fee, and he does not formally agree to approve a mortgage for the amount you are pre-qualified to borrow.

While the pre-qualification process does not guarantee loan approval, it does give a general idea about how much money lenders are willing to provide you. This gives you a number to work with, helping you decide whether you are willing and ready to borrow that much money, and to see which types of properties fall within your price range.

If coloring weren't added to Coca-Cola, it would be green.

There are a lot of "diamonds in the rough" for sale. A property with incredible potential may be in a great location, have large sunny rooms and a big yard, but it may also have dated wall paper, worn carpeting, and uninspired bathrooms. If you can look beyond the surface, you may see a house that could be transformed by a little "elbow grease", paint, and new carpets.

A house that is structurally sound with all the systems in good condition may be only a few cosmetic repairs away from being fantastic! A home that does not show well is usually priced accordingly. If the price doesn't reflect the condition of the house, the seller may be more willing to negotiate than a seller who has made a considerable investment in preparing a home for the market.

Bring your imagination with you on your next house hunting trip! You may be pleasantly surprised to find a diamond in the rough.

Home sellers are always interested in their tax deduction options. If you recently sold a home without meeting the basic ownership and use criteria for waiving capital gains tax, you might still be able to claim reduced exemptions if you meet certain other criteria.

Homeowners who had to sell because of a change in place of employment can qualify for reduced tax. You must prove that the job change occurred while you owned and used the home as your primary residence, and that your new job is located at least 50 miles farther from your residence than your previous place of employment.

A reduced exclusion from capital gains tax may also be granted for health reasons. If your motivation for selling your house was to obtain diagnosis, treatment or cure for a disease or injury to you or a family member, you can apply for an exclusion. Unforeseen circumstances such as death, unemployment, divorce or natural disasters may also reduce your capital gains tax. Consult a tax professional for advice about your unique circumstance.