If your home has been listed for a number of weeks and you have only seen it featured in one newspaper ad, you may start feeling anxious. Although your house is being shown regularly, you wonder if the agent is doing enough.

Home sellers often equate effective marketing with classified ads in the weekend Sunday real estate section. However, the most skilled real estate agents know the market well enough to be aware of where the prospective buyers for your home are likely to come from. They will look for the best ways to reach those people through direct mail, telephone contact or specialized ads in neighborhood publications. They will also work to get their colleagues excited about your house, especially agents who have many listings or sales in your neighborhood. And remember--it is important for you and your agent to communicate often so you will know exactly what is being done to sell your home.

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When you are buying a new home or refinancing your present one, it is wise to do some comparison shopping among lenders. A low interest rate isn't the only criterion by which to evaluate a loan. You should also consider the terms of the mortgage, what your closing costs will be and the reputation of the lender.

Real estate agents are a good source of information about loans and lenders, whether you are buying a home or just refinancing your present home. We routinely assist buyers when they need a mortgage in order to purchase a home. We know what loan packages are available and the qualifying requirements. The companies with the lowest rates sometimes have very conservative underwriting guidelines, and may not be willing to make loans on certain types of property or to buyers who are marginally qualified. We can tell you which companies and loan officers will go the extra mile to provide excellent service to make sure that the transaction closes.

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The J Team- Your Real Estate For Life!

When you consider what price you should accept when selling your home, there are two important factors that will influence your decision. The first factor is the basic sales price. The second, and more important, is the amount you will actually receive from the proceeds at the closing.

Your real estate agent will prepare a seller's "net sheet" showing what your expenses will be. This will aid you in determining who pays what and when. It can help you to focus on the details of the sale.

A seller's expenses will include brokerage fees, real estate settlement fees, title insurance fees and special assessments. In some cases the buyer may ask you to pay some of the loan fees. Local real estate taxes will be pro-rated for you and the buyer, and you may be asked to place funds in escrow for payment of your final water bill. Subtract your mortgage balance any home improvement loans and other liens against the property that will be paid at the closing to come up with your final figures.

Your real estate agent can go over all of these factors with you when you list your home for sale and again as offers come in.

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The J Team- Your Real Estate For Life!

When starting out as a real estate investor, you can choose either the conservative approach of holding a property until it increases in value or the riskier approach of "flipping" - reselling very soon after making some improvements that add value. If you plan on taking the safer approach, keep the following factors in mind when searching for the right investment property.

Look for a house or apartment unit that is close to where you live, so inspecting the property and overseeing maintenance will be easier. Choose an area where there is clear potential for future development, and you will benefit from the inevitable increase in property values. If you have the choice of either buying a newly built or recently remodeled home or a less expensive house in the same neighborhood that needs a cosmetic makeover, buy the bargain property and upgrade it for a better long-term return on your investment.

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The J Team- Your Real Estate For Life!

American tax law offers a significant capital gains tax exemption that allows taxpaying homeowners to unlock home equity and end the spiraling cycle of "investing up." First-time buyers enjoy expanded rules for Individual Retirement Accounts (IRA) and 401(k) plans, rules that allow penalty-free withdrawals to purchase a home.

Every two years, married sellers of principal residences who file joint federal income tax returns are allowed a $500,000 exclusion ($250,000 for singles) from capital gains tax. For sales that took place after May 6, 2003, the maximum capital gains tax rates for profits above the exclusion dropped from 20% to 15% for higher income taxpayers, and from 10% to 5% for lower income taxpayers.

Homeowners can now consider several new options. People who find themselves at an empty-nester stage (no children at home) in a four or five bedroom home with a large equity have been able to unlock their equity dollars, using the income to help their children buy a first home, take a luxury cruise, remodel the house or purchase a second home for vacation or retirement.

Consult your tax advisor for advice regarding your particular circumstance.

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There are two schools of thought about whether it is better to show a house empty or with the furnishings in it. An empty house is like a blank canvas, and prospective buyers can more easily imagine what their things would look like in it. But buyers could take the fact that the house is vacant as a sign that the sellers are very anxious to sell and, therefore, might entertain a low offer.

Our recommendations are usually based on how the house would look. Personal taste is highly subjective. Unless your furniture looks really wonderful and is neutral in color and conservative in style, it could distract buyers from the most attractive qualities of your home. The fact that your home is vacant could give it a competitive edge when they make their final selection. Will it attract low offers? It might, but if the price is right, it will attract reasonable offers, too.

Timing can sometimes be difficult if you have to sell a home before you can buy another one. Most people need the equity from the sale of their first home for the down payment on the new house. If your present home goes on the market first, you may be concerned that it will sell before you find the one you want to buy. On the other hand, if you find the perfect home before your present home is under contract, the sellers may be reluctant to accept your offer, and you may be too nervous to sign a contract.

It is a good idea to sit down with a good real estate agent for some professional advice before you begin your search. It will probably be necessary to be flexible on the closing date, because it can be easier to find a home that you want to buy than to sell your present home. After finding the house you want, you can ask the lender about arranging a short-term bridge loan that can make the purchase possible before you sell your current residence.

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Real estate transactions can be tricky. The widespread myth that selling real estate is easy has lured many home sellers into making expensive mistakes by trying (and failing) to sell their own home.

Many people assume that all you need is a sales contract, a classified ad and a "For Sale" sign. But even the most basic step -- setting the correct sale price -- depends on a number of factors. The location, size and condition of your home, the relationship between the local supply of homes and the number of qualified buyers, and the recent selling prices of comparable homes in your neighborhood all affect the market value of your property. Homeowners who sell without a professional realtor often misread the local market and overprice the home.

Sellers might also mishandle contingencies, home inspections, title clearance, deadlines and disclosures. The advice and guidance of an experienced real estate agent is essential to ensure that you avoid the risk of expensive litigation and ensure a successful home sale.

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Every property has some kind of easement--utility, water and sewer or driveway easements which give access to landlocked parcels. As a property owner, you may be affected by easements at some point.

The easement in gross is the most common type of easement used by public utilities. These easements are often under or above the ground, so they do not consist of actual land. If a utility gains the right to an easement in gross over your land, it must pay you for the diminishment in value of your property.

Easements by prescription become easements simply through unchallenged use by the landowner for a specified number of years (usually 10-20). To avoid such an occurrence, the landowner must periodically make a formal objection to "start the clock over".

The most familiar type of easement is easement appurtment that allows access to public roads and is used to create driveways and walkways for subdivided parcels. This type of easement should be treated by both landowners (and beneficiaries) as actual land parcels to be described and recorded meticulously.

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Your real estate agent's job is to find you the perfect home, in the right location, with all the amenities you want--and at the right price. It is the home inspector's job to find any skeletons in the closet -- or in the plumbing, wiring, roof, basement and beams.

The inspector won't pass or fail a home based on what he or she finds, but will go over the house thoroughly to help you understand the condition of the property you are buying. If there are any serious problems, your inspector can give you a realistic idea of how much the repairs will cost. If there are material defects that were not reflected in the asking price, you will have the opportunity to re-open negotiations with your sellers before you commit to the purchase. A good inspector will also explain the operation of the basic emergency systems such as the main water cut off valve and the circuit breaker box, and will go over items that will need routine maintenance.

If you are buying a house, we recommend that you make a professional home inspector part of your home purchase team.

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