Despite the doom-and-gloom economic reports, things are not all bad in the housing market. Low interest rates are helping to stimulate activity, but it is still slow in some areas of the country. Help your home sell faster by avoiding these 7 common mistakes.
1. Doing it yourself. You may want to save money by marketing and selling your home yourself, but unless you have a lot of time and experience in selling real estate, you could end up losing out. Real estate agents not only have specialized real estate knowledge and the marketing skills, but also they have the negotiation skills needed to get the best possible price. In addition, people come to them when looking for a house, giving you a much wider potential market.
2. Choosing the wrong real estate agent. Not all realtors are equal. Even if a firm has a good reputation, an inexperienced or sloppy agent can cost you a sale. Interview several agents before deciding whom to list your home with. Remember that you are employing them, and you will be paying their commission. Check out testimonials from previous customers and do your research. Choose a real estate agent who is motivated, polite, knowledgeable, and successful. Of course, Agent Ace is a free source for finding the single realtor that has a proven track-record of selling the most homes in the least amount of time in your area and price range.
3. Asking for too much money. The market may be slow, but houses are selling if they are the right price. Your home’s value is not necessarily determined by what you have spent on it, but by what someone is willing to pay for it. Set a realistic asking price based on what similar houses are selling for. Don’t expect to get your full asking price unless you are in a rare property hot spot. You will usually get at least 5% less than your original listing price.
4. Not staging your home. Perception is importnant, so remember – you are not selling your home, you are selling the buyer’s new home. Before you put your home on the market, stage it so that it appeals to as many people as possible. De-clutter and clean every room, including the shed, garage, and attic. Get anything broken repaired, remove any extra furniture to make rooms appear larger, and generally de-personalize it to remove as much of your taste as possible. Only then should you have your marketing photos taken. Detach yourself emotionally from your property. This will help you both to see it through a potential buyer’s eyes, and negotiate better when it comes to selling.
5. Not having enough listing photos. Most potential buyers will do their initial research online. The more high quality photos you have, the more likely they will be to either view your property, or to discover from the photos it’s not for them and then avoid wasting your time with an unsuccessful viewing.
6. Selling in autumn or winter. Unless you have to sell urgently, leave it until at least spring to put your home on the market. Cold weather in autumn and winter turns many buyers off looking for a home, and prices are generally lower. If you have no choice but to sell then, make sure your house is warm, well-lit, and generally welcoming.
7. Being slow to respond. Buyers usually want to move fast when they find the home that’s right for them. As a seller, you should always reply quickly to any requests for viewing and information. Offers should be responded to within a week at the most, but try to respond within a couple days in general.
April 9 2012 · Filed in: Inside Knowledge | The Market | Tips
The best Realtors recommend you de-personalize your home before marketing it for sale. A clutter-free house appears bigger and makes it easier for a prospective buyer to imagine themselves living there. It’s tempting to throw everything into boxes and store it to deal with after you move, but a few hours of your time spent de-cluttering can help your home sell faster, as well as save you money in storage and removal fees.
Here are six tips to help you de-clutter your home easily.
1. Get organized. Choose which room you will start with first, and don’t start on another room until it is done. Have boxes ready for trash, recycling, sell, keep and storage. Get rid of any trash and recycling straight away. Question your “keep” items and ask whether you really need them. Do they have a place in your new home? If not, they will just become clutter there too, so get rid of them. Any extra furniture, pictures, photographs, collections and other personal items you want to keep should be stored.
2. Set a timer. It’s amazing how much you can accomplish in just 10 minutes of focused work. If you don’t have a timer, then work in increments of 30, like finding 30 items to throw away.
3. Call in the cavalry. Ask someone who doesn’t have a sentimental attachment to your clutter to help you clear it out. They can be objective and stop you from hanging on to things you don’t really want or need.
4. Don’t limit yourself to inside the house. De-clutter the yard, shed and garage. Get rid of old or broken toys and equipment, paint tins, building materials, and anything else that doesn’t give a good impression.
5. Don’t forget the cabinets. Cabinets and closets will be inspected by potential buyers. The less you have in them, the more spacious they will appear.
Closets – If you haven’t worn it in a year, or it doesn’t fit, get rid of it. Pack and store out-of-season clothing and shoes. It will save you time when moving, and you will make your closets seem bigger.
Kitchen cabinets and pantry – Empty cupboards one at a time, and clean before putting anything back. Throw away out of date food from the pantry. Organize herbs and spices neatly. Use portable tiered shelves for more space.
Bathroom – Treat your bathroom like a hotel. Soap and shampoo are okay, but hide anything else in a sponge bag or a pretty box with a lid. You’re selling the idea that someone could live there, and seeing anti-dandruff shampoo and your razor in the shower won’t add to the illusion.
6. Keep it clear. Don’t bring anything new into your house. Spend 15 minutes each day doing a sweep of all rooms to deal with anything that is out of place or starting to pile up. Martha Stewart is the master of de-cluttering. Priscilla Pritchard has written an excellent guide called De-cluttering Your Home: The Fast Way To Get Rid Of Clutter And Organize Your Life, which is full of useful information to turn your house into a spacious haven for potential buyers.
Whenever you’re ready to sell your home or to buy a new one, you want to be a smart seller and hire an experienced Realtor. The best real estate agent is the one with experience who has sold the most homes in the area & in your price range, and whose sales have a low average number of days on market. Why? Because it has been proven that the best realtor in a market will sell your home more quickly, for more money, and with less errors then an average real estate agent. Someone with a wealth of experience will also know how to avoid the pitfalls and traps associated with the current real estate market in your area. Agent Ace finds the best realtor by analyzing the listing and sales data for your neighborhood, and ranking all of the realtors in your area and price range based on volume of sales, days-on-market average, experience, and other important factors. AgentAce.com is the only company that uses a scientific approach to determining the best realtor, and we guarantee that you will be connected to the best real estate agent in your area and price range – for free.
April 4 2012 · Filed in: Inside Knowledge | Tips
Spring is a great time to give your home a thorough cleaning. The brighter days and warmer weather make it ideal for welcoming in the fresh air and optimism that comes with the season. Here are the top spring cleaning tips, tricks and ideas to help you get your home looking its best.
1. De-clutter and tidy before you start to clean. Start on one room and don’t move on to another before you have finished. Have boxes ready for trash, recycling, giving away, and selling. Use Craigslist to get rid of things you no longer want but which are too good to throw away. If you have a lot, consider a yard sale.
2. Clean from the top down. Start by removing dust and cobwebs from ceilings and walls. Wash walls with a mixture of ½ cup of ammonia, ¼ cup distilled vinegar and ¼ cup baking soda to a gallon of water. Wash windows using vinegar spray and scrunched-up newspaper. Scrub base boards, and vacuum and wash floors or clean carpets. Where possible, wash curtains and soft furnishings.
3. Empty the bathroom cabinet, and wipe it out before returning only items that will be used. Kerosene will remove rust stains, as will a mixture of lemon juice, dishwashing detergent, and iodized salt. Distilled white vinegar removes soap scum and leaves tiles sparkling. Make your bathroom smell really fresh by putting citrus peel in a jar, fill it up with vinegar, and leave for a week or two before using. Rubbing alcohol removes any dull haze from the mirror and makes faucets look new.
4. Make your own cleaning products. “The Naturally Clean Home: 150 Super-Easy Herbal Formulas for Green Cleaning” by Karyn Siegel-Maier shows you how to make safe and effective cleaners.
5. Instead of using a caustic chemical oven cleaner, mix a thick paste of baking powder, and smear it on the inside of your oven, including the door. Leave for a few hours or overnight, before wiping it clean with a damp cloth.
6. Call in the professionals, if you can’t clean your carpet or oven to your satisfaction. They can usually do furniture and rugs as well.
7. Reorganize your closets. Go through all your winter coats and shoes, and make sure they are clean and in good repair before storing them away. Look at your spring and summer clothing with a critical eye. Get rid of anything you didn’t wear last year. Make necessary repairs to items you are keeping. Vacuum and wipe down the inside of your closets and drawers before replacing any clothing.
8. Clean your winter bedding before storing it, so that it’s fresh and bug-free in the autumn. Do the same for your lighter bedding. Get your quilt cleaned, if you can’t wash it at home. Wash or replace your pillows.
9. Wash your front door, and replace the mat if it is looking less than welcoming. Hose down the outside of your house, and use a broom to remove cobwebs from under the eaves. Wash your barbecue and your outdoor furniture.
10. Remove stains as you find them, even on clothing prior to washing. “Cleaning and Stain Removal for Dummies” by Janet Sobesky gives advice on how to remove virtually any stain from almost any surface.
Martha Stewart and Good Housekeeping have a huge amount of information to help you easily spring clean your house from top to bottom.
Whenever you’re ready to sell your home or to buy a new one, you want to be a smart seller and hire an experienced realtor. The best real estate agent is the one with experience who has sold the most homes in the area & in your price range, and whose sales have a low average number of days on market. Why? Because it has been proven that the best realtor in a market will sell your home more quickly, for more money, and with less errors then an average real estate agent. Someone with a wealth of experience will also know how to avoid the pitfalls and traps associated with the current real estate market in your area. Agent Ace finds the best realtor by analyzing the listing and sales data for your neighborhood, and ranking all of the realtors in your area and price range based on volume of sales, days-on-market average, experience, and other important factors. AgentAce.com is the only company that uses a scientific approach to determining the best realtor, and we guarantee that you will be connected to the best real estate agent in your area and price range – for free.
April 2 2012 · Filed in: Inside Knowledge | Tips
Selling a home in the current climate is a tricky business, with many buyers opting to wait and see what happens with interest rates, and with weaker house prices in general. In order to sell your home as quickly as possible, it helps to understand what buyers want. Here are the top 5 things homebuyers look for when evaluating a potential home.
1. A large kitchen
Spacious kitchens are as important as ever, with homebuyers citing them as one of their top 3 requirements. A good layout is also important. Buyers who would consider a basic renovation are able look beyond tired countertops, but moving gas and water pipes is expensive and potentially off-putting. Large kitchen islands are very popular, as they give both eating and work space. If your kitchen has seen better days, consider painting or refinishing your cabinets and walls, changing any window dressing, and re-grouting floor and wall tiles to make it feel fresh.
2. A Home Office or Study
A home office, or space for one, is a bigger requirement for homebuyers than a separate dining room. More and more people are working and studying from home, and office space is increasing in importance as a result. Buyers like to separate their home and work spaces, and are willing to sacrifice a bedroom or dining room to do so. If your home doesn’t have a separate room, show that a corner of the living room has space to set up with a workstation. Mobile workstations give the option to hide a work space completely out of sight when entertaining.
3. Outdoor Space
Whether it’s a garden, balcony or deck, people want to use their outdoor space. A well maintained yard or outdoor area appeals to all sorts of buyers, particularly if you live in a warmer climate. Families with children, pet owners, and people who like to entertain all see a yard as potential extra living space. Gardening is an increasingly popular pastime, especially the trend for growing your own vegetables. A large plot also offers the ability to extend the house. Professional landscaping isn’t required to sell a house, but a well-maintained yard helps. Remove any dead plants, cut the grass, and add seasonal flowers to make it look appealing. It’s a rare buyer who will appreciate a high-maintenance yard, so the easier you can make it look, the more buyers your house will appeal to. Further, curb appeal – or how your home, including the landscaping, looks from the street – is one of the top reasons buyers choose one home over the other.
4. Value for Money
Not all buyers look at a house as a potential to make money, but given that it’s likely to be their most expensive purchase ever, it’s no surprise that value for money makes the top five list. Value for money includes not just the potential for capital growth, but also evidence that a house won’t cost a new buyer unreasonable amounts of money. A home that shows evidence of regular maintenance gives a buyer confidence that they are not purchasing a money pit. It helps to have receipts or guarantees for building or maintenance work you have had done, like a bathroom renovation or insulation.
5. Ability to Personalize
Potential buyers look for the ability to make their new house feel like their own. Despite what home decorating shows will have you believe, it’s only the minority of buyers who can see beyond the current owner’s personal taste. Potential buyers need simple decor to convince them that they can make the house suit them without an extensive and costly redecoration project.
Further reading:
www.ahahome.com
www.huduser.org
www.doctorhousingbubble.com
March 30 2012 · Filed in: Inside Knowledge | Nerdiness | Tips
It’s official. Agent Ace is now a patented service.
Our “system and method for providing real estate referrals” has made its way through the U.S. Patent Office system, and as of March 20, 2012 is a recognized invention.
Agent Ace is driven by data. At the core of our service is a unique algorithm for comparing agents and finding the best. Unlike other real estate recommendation options that rely on reviews or on advertising from agents, Agent Ace pairs an agent’s transaction history with geographical data to make smarter, performance-based recommendations. Relying on actual performance data means that Agent Ace can deliver our customers a result that is based on integrity. Our process allows us to guarantee each customer that we are referring them to the single highest-performing real estate agent for their needs.
Because our process is the foundation of our company, we are proud to announce the successful issuance of our official patent. The patent is recognition of the unique scientific approach that is at the heart of all we do.
This is a big step for us and we felt like sharing our excitement. Now we can go back to our pursuit of fundamentally changing the way people choose their real estate agent.
If you like IP or stuff you can’t understand, check out the official Agent Ace patent.
March 29 2012 · Filed in: Inside Knowledge | Nerdiness
If you want to sell your property quickly, efficiently and for the best possible price you’ll need the services of an experienced realtor who knows your local property market inside and out. The best realtors outperform the average, frequently selling several times as many homes per year as much as 50% quicker than the average in any given area and price range. You will save significant time and money if you initially take the time to find the top real estate agent in your location. Your realtor will represent you and your property, provide professional counsel and negotiate on your behalf. It is absolutely essential that you pick the best realtor possible, if you are going to sell your property successfully.
Like all professionals, there can be a huge difference in professionalism, experience, skill, competitiveness and customer service among realtors. The best real estate agents are skilled in marketing, communications, real estate law, negotiating and public relations. The best realtors also look the part, making a great first impression with both you and your potential buyers, and they will engender confidence that they will get the job done quickly and profitably.
First you need to get the best realtor in your area. Use these tips to find the best real estate agent for your home:
1. Use Agent Ace! There are scores of websites that claim that they have the best realtors or the top-performing real estate agent for you – but all of these sites are all fluff and no substance. Agent Ace is the only service in the country that collects and analyzes historical listing and sales data in order to rank all of the licensed real estate agents in your given neighborhood and price range. Based on this analysis, we guarantee that we are matching you with the single realtor that has sold the most homes, in the shortest amount of time, and who has the most experience in your neighborhood & price range. Agent Ace doesn’t suggest a realtor in the top 1% – we give you the actual top #1 realtor. No other company in the world is doing the work to rank all agents on historical performance. There are two reasons that other companies are not actually ranking their agents based on data. First, it is too much work, and many companies are making good money off of selling ad space to realtors. Secondly, no other company is allowed to use our process to rank and select the best realtor because Agent Ace holds a U.S. Patent on this process.
2. Interview the prospective realtor. Ask them about their statistics, how many properties they have sold in the past 12 months and the average time their properties remain on the market, prior to sale. You will also want to seek clarity on their fees and commission structure.
3. Check the selling strategies your realtor will use. Does he have an extensive network of real estate industry contacts and will he maximize marketing opportunities, particularly, Internet marketing? The Internet is a powerful resource for sellers. According to the National Association of Realtors, more than 50% of homebuyers search for property online. Your property must be listed online, if you are to reach the widest possible pool of buyers.
4. Drop in at open house showings in your area to chat with the realtor. This is a great way to see them in action and observe their enthusiasm and dedication first-hand.
5. Check your potential realtor’s other property listings. Ensure you are impressed by them and that they appeal to you as professional and informative. Remember, your listing will look similar.
6. Make sure that your realtor has the support staff necessary to operate efficiently. If you have trouble reaching your agent, or getting information from him, so, too, will potential buyers. This could mean you lose a chance to sell.
7. Check out your prospective real estate agent’s office. It should be in an easily accessible location with plenty of foot traffic and parking availability. On entering, you should be greeted by a friendly and savvy staff member. The office should look professional and inviting, and be manned at all times. Print details about local listings should be readily available, informative and attractive.
8. Before entering into a contract with a realtor be sure that he or she is compatible with you. You will work closely with your realtor on this most important of financial transactions. You must build a good and respectful rapport and trust your realtor. It is imperative that he listens to your needs and that you can openly express your concerns and desires.
Once you have selected the best real estate agent in your area, he will work with you to determine your property’s value in the current marketplace. Its value may have decreased since you purchased the property. Some sellers take this as a personal insult, particularly, if they have invested a lot of time and money in making upgrades. You must remain objective and trust your realtor to know the local market and what your property will realistically sell for. If the property is overpriced, it will lose the freshness of its appeal after the first two to three weeks of showings. After 21 days, demand and interest will wane. It is better to price the home lower rather than higher than its market value, since a property that is priced lower is likely to receive multiple offers, which will then drive up the price to, or in excess of the market value. Remember, pricing is all about supply and demand. You cannot expect to sell your property for more than similar properties in your area that are priced lower. Your realtor will have access to comparable listings and sales in your area, which will give you accurate information about recent sales, the prices that were asked and for which they sold and how long they were on the market.
While your realtor and the price of your property are of paramount importance, the property must show well to potential buyers. Many buyers will drive past potentials properties before requesting viewings. If your property does not instantly appeal to drive-by viewers, they will not want to look inside and you have lost a potential chance to sell. Even if you cannot afford to spend money on major renovations, you can still present your home at its best, by keeping it clean, tidy and uncluttered. Nothing turns buyers off more than a unkempt yard, or a messy, dirty and smelly interior. Many buyers are unable to see past dirt and clutter that could easily be remedied.
Start with that all-important front yard. Keep the lawn cut. Trim trees and bushes. Trees should not be more than two feet taller than the roofline of your property and should not obscure attractive features. Place mulch around trees and shrubs. Clean the siding, bricks, gutters, doorways, decks, walkways and driveway with a power washer. Plant attractive and colorful annuals in pots or hanging baskets placed strategically to catch the eye. If you have pets, do not forget to clear away excrement regularly. Repeat this work at the sides and rear of your property.
When it comes to the interior, buyers want clean, light airy spaces in which they can imagine their own possessions. Clean all windows and remove heavy window treatments to allow the maximum light in. Rent a storage unit and place large pieces of furniture and unnecessary belongings in storage until you move. Complete minor and visible repairs such as leaky faucets, jammed drawers, scratched or scuffed paintwork, and broken light switches. Paint walls in light neutral tones of popular beige or grey. Clear kitchen counter surfaces. Keep bathrooms clean. Open windows and air your space. Unpleasant odors are simply not acceptable to viewers. Clean and de-clutter and keep doing this until you have sold your property. You are living in a show home. Ask yourself what you want to see in homes you view and apply this to your home. Watch home and garden shows on television to get useful inspiration.
With your area’s best realtor on your team and a clean attractive home. There is no reason that your home should not sell quickly and for the highest price possible.
March 29 2012 · Filed in: Tips
People looking for inspiration for their homes love the variety and quality of information available on a blog. Far from being an amateur effort with poorly written articles and grainy photos, the best home blogs are slick and professional, giving readers regularly updated content without the cost of buying a magazine.
Here are the top 10 home blogs:
1. The Lettered Cottage
Written by a husband and wife Kevin and Layla, this beautifully presented blog includes posts about their experiences renovating their cottage. Layla also presents easy to follow craft projects.
2. A Beach Cottage
A really fresh Australian blog focusing on how to achieve a comfortable vintage beach cottage style in your home. It includes plenty of inspiring photos, advice, makeover projects, and occasional personal posts.
3. Isabella & Max Rooms
An informative and stylish decorating blog. Themed posts burst with pictures and ideas for your home. Janelle also includes a comprehensive list of other blogs she reads, so it’s a great starting point for some serious online research. The layout lets this blog down a little (there’s an awful lot going on down the side) but the content more than makes up for it.
4. Design Sponge
Another fantastic home design blog with plenty of photos to help you imagine how your home could look. It’s written by home and lifestyle journalist Grace Bonney. Articles cover range home-related topics. It’s a great professional home blog.
5. Bower Power
Interesting and well photographed posts covering the renovation of Katie Bower’s previous and current homes. The home decor posts are mixed with posts about the Bowers, creating a comfortable feel and an understanding of how their home works for them.
6. More Design Please
Covering DIY projects, food, art, and home decor, More Design Please (MDP) is bound to have something you will want to try straight away. Posts range from inspiring decorating themes, to clear step-by-step DIY projects.
7. Desire to Inspire
Written by two women who have never met, Desire to Inspire showcases a real love for design. Kim and Jo’s enthusiasm for beautiful interiors is evident in every post.
8. Architecture Blog
There are no articles, interviews or instructions in this blog, just page after page of stunning architectural and interior design photographs. It’s a brilliant site to while away time being impressed and inspired by not just the subject matter, but also the quality of the photos themselves.
9. A Bowl Full of Lemons
This is a lovely generic home blog, with posts about all things home-related, from cleaning to decorating. Her organizing tips are fantastic – if you like checklists, then this is the blog for you! There are also weekly and 21-day challenges, as well as blog parties where you can see what other bloggers have been up to.
10. Growing the Home Garden
Not to neglect the outside of the home, this gardening blog will have you pulling on your boots and looking for your shovel. It’s written by Dave, who has been gardening only since 2007. His projects are very achievable and he includes a lot of useful information about garden planning, propagating plants, and vegetable gardening. It’s a great place for a novice (or nervous) gardener to start.
Whenever you’re ready to sell your home or to buy a new one, you want to be a smart seller and hire an experienced Realtor*. The best real estate agent is the one with experience who has sold the most homes in the area & in your price range, and whose sales have a low average number of days on market. Why? Because it has been proven that the best realtor in a market will sell your home more quickly, for more money, and with less errors then an average real estate agent. Someone with a wealth of experience will also know how to avoid the pitfalls and traps associated with the current real estate market in your area. Agent Ace finds the best realtor by analyzing the listing and sales data for your neighborhood, and ranking all of the realtors in your area and price range based on volume of sales, days-on-market average, experience, and other important factors. AgentAce.com is the only company that uses a scientific approach to determining the best realtor, and Agent Ace guarantees that you will be connected to the best real estate agent in your area and price range – for free.
March 29 2012 · Filed in: Inside Knowledge | Nerdiness | Tips
If you’re looking to sell your home in 2012, then you should take a moment to look at the potential tax benefits you can take advantage of this year. Here’s a look at nine top tax tips that will keep more money in your pocket and out of Uncle Sam’s hands. (You should always consult with your tax professional).
1. Exclusion of gain as income. As long as your home has been your primary place of residence for 2 of the last 5 years, then usually you don’t need to count any monetary gain from the sale as income.
2. Learn about the $250,000 and $500,000 exclusion limits. If you have a monetary gain from your home and the home has not been your primary place of residence, you still may be able to exclude a gain up to $250,000 for single individuals or $500,000 for married couples.
3. Be mindful of second home sales. If you sold another home where you did take the exclusion within the last two years, then you cannot exclude the gain from selling your current home.
4. Take the loss as a deduction? While it certainly seems tempting in a down real estate market to take a loss as a deduction against your income, unfortunately you cannot. A loss is simply a loss.
5. Make sure to deduct refinancing points. Recently, an IRS rule changed. Prior to the alteration of the rule, you could deduct any points paid for a refinance in the current tax year. Now, that deduction must be taken over the life of the loan. So if you paid $6,000 in points, then you’d take a $200 per year for 30 years. (Assuming you had a 30 year loan.) However, when you sell the property, you now get to deduct the balance remaining. Using the example above, if you’re selling your home after 5 years of refinancing and have deducted $1,000 over the course of that time, you can deduct the remaining $5,000 in the year you sell. If you pay points on the new home you are buying, this can add up to quite a hefty deduction.
6. Make sure you don’t have to repay the first-time home buyer credit. The first-time home buyer credit motivated many people to purchase a home. However, if you purchase a new home or sell your existing home within 36 months, then you must repay the credit to the government. Depending on the home price, it may make more sense to wait until you are out of that window.
7. Use Publication 523 to determine your gain on the home. The IRS provides this form so that you can accurately calculate if you had a gain on your property. Information such as purchase price and the cost of major renovations and upgrades will be needed to complete the form.
8. Paying capital gains tax. If you have a gain that does not meet any of the exclusion standards, then unfortunately, you must count it as a capital gains and pay taxes on that amount of money. For example, if you sold a vacation home for $500,000 that your originally purchased for $100,000, then you’d owe capital gain tax on $400,000. (Excluding major renovations or upgrades).
9. The IRS doesn’t need to know if there are no gains. If you sell your home and there is not a capital gain, then it does not need to be reported on your tax return.
Aside from learning about the IRS tax code in relation to selling your home, you want to be a smart seller and hire an experienced realtor*. A real estate agent with experience who has sold the most homes in the area & in your price range, and those sales have a low average number of days on market is the agent you want to sell your home. Why? Because it has been shown that the best realtor in a market will sell your home more quickly and for more money then just using an average real estate agent. Someone with a wealth of experience will also know how to avoid the pitfalls and traps associated with the current real estate market in your area. So utilize the tax code to your advantage and hire the best realtor in order to maximize the profit from the sale of your home. AgentAce.com is the only company that can guarantee that you will be connected to the best real estate agent in your area and price range – for free.
Further Reading:
http://www.irs.gov/newsroom/article/0, ,id=243682,00.html
http://www.irs.gov/businesses/small/industries/article/0, ,id=98921,00.html
Sources:
http://www.inman.com/buyers-sellers/columnists/stephenfishman/irss-top-10-tax-tips-home-sellers
http://www.irs.gov/businesses/small/industries/article/0, ,id=98921,00.html
* REALTOR® and REALTORS® are federally registered trademarks and the property of the National Association of Realtors. The term “realtor” refers to a licensed real estate agent who is a member of the National Association of REALTORS®. Agent Ace is not affiliated with the National Association of REALTORS® in any way.
March 29 2012 · Filed in: Inside Knowledge
- New condos tend to be smaller than older ones. If you want more square footage, open your search to previously owned condos.
- Be aware of the condo fees. These are non-negotiable and tend to increase over time.
- Look out for buildings with high percentages of rented units. Renters will not care for their units as owners will. This could drive down your property value and leave you in a run-down building.
- If the renter population is over 10%, there should be clear rental policies that you will want to be aware of.
- Middle units tend to be less expensive than end units. This is a nice tip if you are looking to save money.
- Try to get copies of past condo board meeting’s minutes. Complaints about rodents, plumbing and other such nuisances are things you will want to know about beforehand.
- Find out the delinquency rates of current owners. If the rate is high, this could be a sign of poor condo management, underfunding and discontent among owners.
- Condo Management is an important piece of condo ownership. Is the condo professionally managed? Or is it managed by the owners?
- Check on the repair fund. A building that is 10 years old should have a repair fund of 10%. Between 15 and 20 years old, the repair fund should be 25-30%. Beyond that, repair funds should be around 50% or higher. If a fund is lower than these suggestions, be aware the should something major need to be fixed, you may be shelling out unexpected cash for expensive repairs.
March 13 2012 · Filed in: Uncategorized
- Before you begin, decide what neighborhood(s) you want to live in and what style home you are looking for. This may seem obvious, but many first-time buyers waste time because they haven’t decided this beforehand.
- Hot real estate sells fast! If you fall in love with something, don’t drag your feet or else you risk losing out.
- Wishlists are important when house hunting, but be prepared to sacrifice a little. No house is perfect.
- Be sure to consider ALL aspects of a house before judging, and try to see past easy fixes. Don’t like the lawn jockey in the front yard? Is the shag carpeting making you sneeze? Properties that have been updated and are in great condition are often hard to find, sell fast and sell for more money. So be willing to use your imagination and put in a little work.
- If you are looking for a good investment (and let’s face it, who isn’t?) consider an up-and-coming neighborhood. It might be a little rough around the edges today, but if you see signs of improvement around the neighborhood, tomorrow will be worth the wait.
- Emotions can get you into trouble! If you fall in love with a house, be sure you visit it again. A second visit will help you put emotions aside and look with more objective eyes.
March 13 2012 · Filed in: Uncategorized
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9415 Culver Blvd.