trey mccallie real estate broker: Enjoy Your Improvements & Profit by Them - 10/14/14 08:22 AM
Enjoy Your Improvements and Profit by Them  
Homeowners can raise the basis or cost in their home by money spent on capital improvements. The benefit is that it will lower their gain and may save them taxes when they sell their home.
 
Improvements must add value to your home, prolong its useful life or adapt it to new uses. Repairs are routine in nature to maintain the value and keep the property in an ordinary, operating condition.
Additions of decks, pools, fences and landscaping add value to a home as well as new floor covering, counter-tops and other updates. … (2 comments)

trey mccallie real estate broker: Seller Safety Plan - 09/27/14 10:50 AM
 
Seller Safety Plan  
September is REALTOR® Safety month when special attention is focused on the security of having a home on the market and the concerns for the well-being of owners is a day-to-day effort.  The following list may help sellers secure their home and minimize risk.
 
Locks – doors and windows should be locked at all times.  Additional locks like deadbolts or safety locks can provide a higher level of security. Home lighting - turn on the lights prior to prior to purchasers arriving to improve the showing.  Not only will they be able to see things better, it … (2 comments)

trey mccallie real estate broker: Which HVAC Filter to Use? - 08/25/14 12:44 AM
 
Which Filter to Use?  
A dirty air filter decreases the effectiveness of your HVAC system because it inhibits airflow and allows dirt, dust, pollen and other materials to blow through the system.
 
The challenge is how often it should be changed to keep the system working efficiently and extend the equipment life.   Too often and you’re wasting money and not often enough and your increasing the operating and maintenance costs.
Fiberglass panel filters are inexpensive and easy to find but they’re not very efficient and they allow most dust to pass through.  They were popular years ago … (2 comments)

trey mccallie real estate broker: Home Inventory: How's Your Memory? - 08/18/14 06:33 AM
 
How's Your Memory?
 
How old is your bedroom furniture and what did you pay for it?  Don’t know?  That’s okay, let’s try an easier question.  When did you buy the TV in your family room and is it a plasma, LCD or a LED?
 
Whether you are the victim of a burglary, a fire or a tornado, most people are comforted they have insurance to cover the losses.  However, unless you’ve filed a claim, you may not be familiar with the procedures.
The adjustor will want to know the date and how the loss occurred.  Assuming you have contents … (0 comments)

trey mccallie real estate broker: What is a Reverse Mortgage? - 08/11/14 12:51 PM
 
Reverse Mortgage With all of the encouragement from celebrity spokespersons like Fred Thompson, Robert Wagner and Henry Winkler, there is a growing awareness of reverse mortgages.  The fact is that our population is getting older and more than 25 million homeowners meet the age requirement.
 
A reverse mortgage will allow homeowners age 62 or older currently living in their home to tap into their equity. The amount available is determined by the borrower’s age, the home’s current value and current interest rates.  The loan proceeds can be received in a single, lump-sum or periodic payments.  The closing costs can … (0 comments)

trey mccallie real estate broker: VA Loans: The Reason They're Called Benefits - 08/01/14 07:39 AM
 
 
The Reason They're Called Benefits  
The Veterans Administration guarantees home loans for eligible veterans.  It is considered an attractive loan because the veteran can purchase the home with no down payment up to specific loan limits and no mortgage insurance. This makes the monthly payment considerably lower.
 
Let’s assume a buyer wants to purchase a $200,000 home and can get a 4.5% interest mortgage for 30 years.
A FHA loan would require a $7,000 down payment plus $3,377.50 in up-front MIP which can be rolled into the mortgage. The monthly mortgage insurance premium would be $221 per … (0 comments)

trey mccallie real estate broker: Every Renter Should Know - 07/14/14 01:17 PM
Every Renter Should Know
 
  … (0 comments)

trey mccallie real estate broker: Fifteen Will Get You Three - 07/07/14 12:09 PM
 
Fifteen Will Get You Three  
Freddie Mac chief economist, Frank Nothaft, says that affordability, stability and flexibility are the three reasons homebuyers overwhelmingly choose a 30 year term.  However, for those who can afford a higher payment, there are three additional reasons to choose a 15 year term: save interest, build equity and retire the debt sooner.
 
First-time buyers have a higher tendency to use a minimum down payment and are very concerned with affordable payments.  It is understandable that the majority of these buyers select 30 year, fixed-rate mortgages.
Consider a $200,000 mortgage at 30 year and 15 … (2 comments)

trey mccallie real estate broker: Making Good Offers Better - 06/30/14 12:56 AM
 
Make Good Offers Better  
It’s disappointing, frustrating and sometimes, discouraging when you lose a home you want to buy.
 
One of the hardest lessons for today’s buyers is that writing an offer doesn’t mean that you’ll get the home or even a counter-offer.  The low inventory affecting many of the housing markets requires a different strategy to give you the best chance to get the home you want.
Make your best offer initially; you may not get a chance to accept a counter. Submit a written pre-approval letter from the lender. Increase earnest money above what is considered … (3 comments)

trey mccallie real estate broker: PMI: An Unexpected Expense - 06/23/14 02:13 PM
 
 
 
An Unexpected Expense  
In a study released by TD Bank, 65% of buyers with mortgages that required mortgage insurance said the higher monthly payment was more than they originally expected.
 
Private mortgage insurance is required on loans that exceed 80% of the home’s value.  For conventional loans, the premiums range from 0.5% to 1% annually.  The PMI could add close to $100.00 a month to the payments on a $200,000 mortgage and over $200.00 a month on a FHA mortgage.
FHA has two components to its mortgage insurance which includes an up-front charge on closing of the loan … (3 comments)

trey mccallie real estate broker: What is a Seller's Market? - 06/17/14 01:35 PM
 
What is a Seller's Market?  
It is generally considered a seller’s market when the conditions favor the seller.  This condition exists when demand is high and supply is low without any significant adverse economic conditions taking place.
 
Demand is determined by ready, willing and able buyers.  Low interest rates with indications that they will begin to rise fuels part of this demand. Rising prices also creates a sense of urgency to avoid higher housing costs.
Inventory is currently below what is considered balanced in most areas. In some areas and price ranges, homes are selling very quickly, with … (1 comments)

trey mccallie real estate broker: Don't Leave for Vacation Without.... - 06/11/14 12:37 AM
 
 
Don't Leave Home Without...  
Planning a summer trip is usually focused on what you’ll do, see and experience.  Enjoy it even more by spending a little time before you leave to make sure your home is safe while you're gone.
 
Consider these suggestions along with your other normal efforts:
Tell your neighbors you’ll be out of town and to be aware of any unusual activity. Notify your alarm company . Discontinue your postal delivery. Use timers on interior lights to make it appear you’re home as usual. Don’t make it easy for burglars by leaving messages on voice mail … (2 comments)

trey mccallie real estate broker: Equity Dynamics - 06/06/14 01:10 PM
 
Equity Dynamics  
 
 
 
 
 
 
 
 
 
 
 
 
 
Another decision that can affect equity build-up is making additional principal contributions along with the regular payments. Whether you’re making an occasional lump sum payment toward principal or regular monthly contributions, it will save interest, build equity and shorten the term on a fixed rate mortgage. Estimate your personal savings with this Equity Accelerator.
(2 comments)

trey mccallie real estate broker: IF it Shows Better... - 06/05/14 03:32 PM
 
It It Shows Better... If it shows better, it will probably sell faster and maybe for more money. Once your home is on the market, it's time to look at it like a commodity and through the eyes of potential buyers. In all likelihood, you'll need to take care of these items eventually, so do them now to help it sell sooner.
 
Make repairs - it doesn't matter if it's been that way since you bought it. You need to fix it so that the buyer doesn't think that the rest of the house is about to fall apart. … (0 comments)

trey mccallie real estate broker: Get Your Offer Accepted - 05/29/14 01:25 PM
 
 
Get Your Offer Accepted As the market shifts from a buyer's market, it's good to know how to improve your chances to have the seller accept your offer.
 
Once you decide on a home, don't waste time; write an offer and submit it as soon as possible. Competing with another buyer happens more frequently than you'd expect. Multiple offers are a seller's advantage but here are some tips to level the playing field:
Realistic offer - don't give the impression you're trying to "steal" the property. Submit comparable sales that justify your offer. Pre-approval letter - this satisfies … (0 comments)

trey mccallie real estate broker: Investment Properties: Let Your Tenants Send Your Kids to College - 05/28/14 06:18 PM
 
Let Your Tenants Send Your Kids to College Most people have lots of things to save for but not always enough discretionary income after the family essentials have been met.
 
A relatively small investment in a rental home can control a good home that will easily rent, generate positive cash flows and pay for itself. The borrowed funds create leverage that earn a return on the total value of the home and not just the amount of cash you have invested.
The strategy is simple. Find a slightly below average priced home that will rent well. It will appeal … (0 comments)

trey mccallie real estate broker: Record Improvements Now - 05/27/14 05:24 AM
 
Record Improvements Now
 
There is a significant difference in how the money you spend on your home is treated for income tax purposes.  Repairs to maintain your home’s condition are not deductible unlike rental property owners who can deduct repairs as an operating expense.
 
On the other hand, capital improvements to a home will increase the basis and affect the gain when you sell which may save taxes.
Additions to a home or other improvements that have a useful life of more than one year may be considered an increase to basis or cost of the home.  Other … (0 comments)

trey mccallie real estate broker: Dripping Dollar$ - 05/22/14 04:03 AM
 
 
Dripping Dollar$ Conserving water to be green while lowering your monthly bill to save green is a beneficial combination. Little things can contribute significantly to a large water bill.
Leaky faucets can waste over 1,000 gallons a year Leaky toilets can waste 7,000 gallons a month A five-minute shower saves more water than a tub bath Water running while you brush your teeth or shave Sprinkler heads need to be adjusted to spray on the yard only Install a rain sensor on sprinkler system Pool equipment can be a hidden source of wasted water A larger than normal water … (2 comments)

trey mccallie real estate broker: Cut Your Housing Costs in Half - 05/21/14 04:37 AM
 
Cut Your Housing Costs in Half  
Serious shoppers wait for a 50% off sale to make the decision because of the bargain factor.  Renters who are serious about lowering their monthly cost of housing should consider buying with today’s low mortgage rates.  For an example, let’s assume a person buys a $200,000 home with 3.5% down payment on with a 4.5% FHA mortgage for 30 years.
 
The total house payment would be approximately $1,508 per month.  However, once you consider the equity build-up due to normal amortization, a monthly appreciation estimated at 2% annually for this example, the … (0 comments)

trey mccallie real estate broker: Who Saves the Commission? - 05/15/14 12:31 PM
 
Who Saves the Commission?
 
One of the most common reasons buyers want to deal directly with the seller is because they feel they can save the commission.  It’s a valid consideration but interestingly, it’s the same reason the seller isn’t employing an agent; they feel they can save the commission.
 
Both parties cannot save the commission.  The buyer feels they have earned it because they’ve had to find the home, determine its value and negotiate with the seller.  They had to arrange their own financing, title and inspections.
The seller equally feels that they have earned the commission … (2 comments)

 
Trey McCallie, Excellence in Real Estate since 2003 (Tate Daniels Concierge Real Estate)

Trey McCallie

Excellence in Real Estate since 2003

Lexington, KY

More about me…

Tate Daniels Concierge Real Estate

Address: 802 Sunset Dr, Lexington, KY, 40502

Mobile: (859) 312-7599

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