real estate: Capital Gains Taxes
- 04/12/09 05:23 AM
I have recently spoken with several people who were not at all familiar with the current laws regarding capital gains taxes when you sell real estate. So, even though the current laws have been in place for a number of years, I think it is worthwhile to review them. First, let me emphasize that I am not a tax professional. I'm just telling you how I believe the tax system works from the standpoint of a real estate broker. Before you make any decision regarding buying or selling real estate, I recommend you talk with your tax attorney or CPA. When (0 comments)
real estate: "Buying New Builder Construction"
- 02/06/09 02:50 AM
So you want to buy a brand new home. Should you work with an agent or just walk into the builder's sales office and check out the model homes? Builders are affected by this "buyer's market" just like other homeowners. So they are offering incentives to attract buyers. One incentive is a commission to real estate agents who bring prospective buyers to the sales office. If an agent accompanies you on your first trip to visit the models, most builders will pay the agent and you can benefit from the agent's professional advice. So, what can an agent do for you when you purchase (1 comments)
real estate: "What Is A Buyer's Market?"
- 01/07/09 01:55 AM
You have probably heard the terms "seller's market" and "buyer's market". But what do they mean? Real estate values go up and down, depending upon supply and demand. Obviously, the quantity of homes for sale is the supply and ready, willing, and able buyers provide demand. Simply put, a seller's market is when there are more willing and able buyers who wish to purchase a home than there are homeowners who are willing to sell. This puts the seller in the driver's seat - they can demand higher and higher prices and offer fewer terms. The result when demand exceeds supply (0 comments)
real estate: "Beware Of Buying Short Sales"
- 11/10/08 03:17 AM
If you are in the market to purchase a home, you will discover that many properties on the market these days are "short sales". This means the owners are upside-down. They owe more on the property than they will net if they sell the property. Whenever an owner who is upside-down accepts a purchase offer, it will always be a contingent acceptance that is conditional upon the approval of the lender(s). This is because the banks must agree to accept less money than is owed to them. The upside-down seller is often willing to accept any offer. After all, they will get no (0 comments)
real estate: Rancho Bernardo Real Estate Market Update October 2008
- 10/08/08 02:40 AM
John Trucillo, former Chief Economist for the National Association of Realtors, is the smartest person I've ever met on the subject of the real estate market. In the September-October edition of "The Real Estate Professional" magazine, John stated that "Most of the metropolitan areas in the United States have housing markets that have stopped declining and are stabilized, poised for the upside of the cycle." I believe he is correct, at least as far as San Diego and Rancho Bernardo are concerned. We are at or near the bottom of the market now. So, how bad has this down cycle been? (0 comments)
real estate: Frequently Asked Questions About Home Inspections
- 09/02/08 08:41 AM
When buying a home, one of the first things that you need to do after your purchase offer is accepted is a home inspection. Here are answers to common questions regarding home inspections. When Should The Inspection Be Done? In California, unless a different timeframe was negotiated, you have 17 days from offer acceptance to complete any and all inspections and to notify the seller in writing of any conditions with the property that you disapprove. Since you will need some time to negotiate repairs, you should schedule your inspection as early as possible. What Inspections Should I Do? You should (1 comments)
real estate: Home Buyer Tip - "10 Questions To Ask Lenders"
- 04/08/08 09:54 AM
There are tons of home mortgage lenders out there - banks, savings & loans, home loan companies, and even Internet lenders. So, how do you choose which lender is best for you. Here are 10 questions that you should ask a lender that may help. 1. What are your most popular loans and why? 2. Which type of mortgage program would best suit my needs and why? 3. Are your interest rates, terms, fees, and closing costs negotiable? (Beware that some lenders claiming to have the lowest rates charge absolutely outrageous "junk" fees.) 4. Will I have to buy Private Mortgage Insurance and, if so, how (0 comments)
real estate: Homeowner Tip - The Value Of Remodeling
- 12/12/07 10:09 AM
Each year, Realtor Magazine conducts a survey on the cost of various remodeling projects around the country and how much they add to the value of the house. In 2007, the value of remodeling nationwide trended down compared to 2006. The reasons are the rising cost of remodeling and a slight depreciation in home values. However, in California, remodeling still results in a healthy increase in the value of a home. But some remodeling projects give better value than others. For example, replacing old windows with new dual-pane vinyl windows costs an average of $15,743. However, this increases the value of the house (1 comments)
real estate: 20 Point Marketing Plan To Get Your House Sold
- 10/18/07 12:08 PM
Selling a home in today's challenging real estate market requires more than just a sign in the yard and an ad in the newspaper. Sure, you may be able to sell a house that way but you won't get the highest possible price and you could waste a lot of time. A technology-based marketing approach is needed to expose the home to the maximum number of qualified buyers. And, since over 85% of all qualified buyers work with a real estate agent, the property must also be marketed to brokers and agents. Below are the 20 points of my marketing plan. I am so confident the seller will be (0 comments)
real estate: "Using A Virtual Tour To Sell Your House"
- 08/23/07 02:50 AM
The latest National Association of Realtor's Survey Of Home Buyers discovered that 77% of all home buyers start their home search on the Internet. They also learned that buyers always prefer listings that have multiple photos or, even better, a virtual tour. So, how can a virtual tour help you to get your house sold? Here is how I have made virtual tours a central part of my marketing plan. First, I use VisualTour.com because it gives me total control over the tour. I can use up to 50 photos of the property, neighborhood, and community. I can use still photos or I can stitch (2 comments)
real estate: Should You Sell Your Current Home Or Buy A New Home First?
- 05/31/07 12:32 PM
I frequently receive a question from potential home buyers who also have a home to sell asking if they should buy first or sell first. If you are financially capable of buying your new home without selling, then you have options. You can buy first, move into the new house, and then sell your old one. Or you can sell first. However, if you need the equity from your current home to use as a down payment for the new place, then you should probably sell first. Here is the preferred scenario. Put your current house on the market. When an offer comes in, negotiate (0 comments)
real estate: Light Up The Night
- 05/09/07 09:03 AM
There are two very good reasons to surround your home with outdoor lighting - it increases the aesthetic beauty of your home and garden, and also significantly improves home safety and security. A comprehensive outdoor lighting system can include attractive light fixtures to enhance the architectural style of your home, patio and garden areas. With the right landscaping and lighting, you're ready to entertain outside in good weather. A well-lit yard also discourages unwanted intruders. Safety lights can detect motion and flood the yard, porch or walkway with bright light. An advanced photocell operation can automatically turn your outdoor lights on at (1 comments)
real estate: Tax Laws Help Homeowners And Real Estate Investors
- 04/14/07 03:38 AM
Recent changes in the IRS codes affect owners of real estate, whether they own just their personal residence or also have investment properties. For the sale of your home, the law still remains that, if you have lived in the property as your principal residence for two of the past five years, you can exclude $250,000 in gains as a single person or $500,000 as a married couple from taxes. But what if you have lived in the property for less than two years? Well, the IRS has come out with guidelines specifying three conditions under which you may prorate the amount of (0 comments)
real estate: What Sellers Should Know About Real Estate Commissions
- 03/25/07 02:54 AM
You want to sell your house and walk away with the most money possible. So what commission rate should you pay? Let's start with a little background. Up through 2003, almost every listing was at 6%. So, when escrow closed the listing broker and agent earned 3% of the sales price and the buyer's broker and agent earned 3%. In early 2004, the San Diego real estate market superheated - virtually everything on the market sold quickly and agents had to spend little time and money on a listing. So, the objective became to get the listing at any price. Agents began taking listing at 5% and offering 2.5% to (3 comments)
real estate: Buy Up In A Down Real Estate Market
- 01/12/07 09:12 AM
Have you considered moving up to a larger home? If so, now may be the perfect time to go for it. There is an old adage in real estate that says, "Buy Up In A Down Market". So what does this mean? Let me demonstrate with an example. The average move-up buyer purchases a new property that is 50% higher in price than their current home. So, let's assume that the property you now own was worth $600,000 in 2004 at the top of the real estate market. And the home you would like to move up to was worth $900,000 in 2004. Prices in the past two (1 comments)