It was a busy week with nothing going on time as scheduled for settlements. Settlements being re-scheduled because the power was out. My seller who was so accommodating was ready to drive back and forth 6 hours to do a closing. Luckily I was able to get title company to let her sign papers and leave. The buyer signing at a later date. Then my other settlement today was a mess. The tenant didn't move anything out of the property. The poor buyer had moving truck sitting outside with all his stuff and the tenant's stuff still in house. The seller ended up having to pay movers to move tenant's belongings out of property. And then pay for carpet cleaning and maid service to clean the place. It ended up on a positive note and buyer was happy at the end.
On a positive note, I met some really nice new clients this week. It's so nice to be able to help and work with people who will listen and take advice. People who know they're not in the Real Estate field and know how to listen.
Despite all the negative news about Real Estate, there are lots of positive news in the market. It's a busy market. People are buying. Lots of great deals and the interest rate is at a low. It's good to just turn off the news and don't live your life by the news.
Friday, July 30, 2010
Tuesday, July 20, 2010
Free No Obligation Analysis of your home
A "Listing Presentation" is an industry term for the formal presentation that a real estate agent makes to prospective home sellers, trying to earn their trust and business. Don't list your home without one! I would love the opportunity to make such a presentation to you.
I'll visit your Gaithersburg, Rockville and Germantown area home, and together we will walk through it, considering the positives and negatives (if any!). You will then see exactly how I would propose to sell your home, for as much as the market will bear, and within your time frame. I will tell you where I will advertise your home, both in print and on the web. With the dramatic growth in homebuyer usage of the web, you MUST have a real estate agent that can extensively market your home online!
And you'll find out what your Gaithersburg, Rockville and Germantown area home is worth, because part of my presentation will include a CMA (Comparative Market Analysis) of your home. I'll compare your home to others like it in Gaithersburg, Rockville and Germantown area that have recently sold, and also to others that are currently for sale. This is a very important way of determining the fair market value of your home.
I make free presentations and prepare CMAs for prospective home sellers every day. I know what puts a big SOLD sign in your front yard.
I'd love the chance to make a presentation for you. It is totally free and without any obligation.
I'll visit your Gaithersburg, Rockville and Germantown area home, and together we will walk through it, considering the positives and negatives (if any!). You will then see exactly how I would propose to sell your home, for as much as the market will bear, and within your time frame. I will tell you where I will advertise your home, both in print and on the web. With the dramatic growth in homebuyer usage of the web, you MUST have a real estate agent that can extensively market your home online!
And you'll find out what your Gaithersburg, Rockville and Germantown area home is worth, because part of my presentation will include a CMA (Comparative Market Analysis) of your home. I'll compare your home to others like it in Gaithersburg, Rockville and Germantown area that have recently sold, and also to others that are currently for sale. This is a very important way of determining the fair market value of your home.
I make free presentations and prepare CMAs for prospective home sellers every day. I know what puts a big SOLD sign in your front yard.
I'd love the chance to make a presentation for you. It is totally free and without any obligation.
Wednesday, July 14, 2010
Top Earning Towns - Bethesda MD
1. Bethesda, MD
Bethesda, MD
Population: 56,763
Median family income (per year): $172,541
Median home price: $725,000
There's a party for every season in this commuter town: Enjoy concerts and ice sculpting in the winter and Taste of Bethesda in October; schmooze with Pulitzer Prize winning authors at April's literary festival; and enjoy the strains of delta blues, soul and swing in the summer.
Year-round a dozen art galleries and hundreds of diverse restaurants woo suburbanites away from cul-de-sac comforts for days and nights downtown. An abundance of home fashion stores and graduate degrees (one in two residents has one) sets a swanky tone for this small community with big city style.
Published by CNN Money
Bethesda, MD
Population: 56,763
Median family income (per year): $172,541
Median home price: $725,000
There's a party for every season in this commuter town: Enjoy concerts and ice sculpting in the winter and Taste of Bethesda in October; schmooze with Pulitzer Prize winning authors at April's literary festival; and enjoy the strains of delta blues, soul and swing in the summer.
Year-round a dozen art galleries and hundreds of diverse restaurants woo suburbanites away from cul-de-sac comforts for days and nights downtown. An abundance of home fashion stores and graduate degrees (one in two residents has one) sets a swanky tone for this small community with big city style.
Published by CNN Money
Tuesday, July 13, 2010
Tips for Selling your home.
You are about to list your home. Since you have lived there for many years, you know that it is not perfect. For example, there might be a leak in the basement that is noticeable only after a heavy rain. Your garage door might stick, and the dishwasher may be prone to work stoppages.
Every home has a few quirks. When it is time to sell your home, you have a choice of either making the necessary repairs or letting the buyers know about the problems. Material defects must be fully disclosed.
Some buyers will order a structural inspection in order to learn exactly what they will be getting. Even if the buyers don't ask for an expert to look at the house, it is the seller's responsibility to disclose any known defects in the property. The seller's agent will provide the disclosure form, wherein the seller may itemize any problems. Sellers may avoid any real estate lawsuits over undisclosed defects by making repairs before the sale or agreeing to a price adjustment during the transaction if defects are discovered.
Every home has a few quirks. When it is time to sell your home, you have a choice of either making the necessary repairs or letting the buyers know about the problems. Material defects must be fully disclosed.
Some buyers will order a structural inspection in order to learn exactly what they will be getting. Even if the buyers don't ask for an expert to look at the house, it is the seller's responsibility to disclose any known defects in the property. The seller's agent will provide the disclosure form, wherein the seller may itemize any problems. Sellers may avoid any real estate lawsuits over undisclosed defects by making repairs before the sale or agreeing to a price adjustment during the transaction if defects are discovered.
Monday, July 12, 2010
Real Estate Sales Tax
Very Few Will Pay 3.8 Percent “Sales Tax” on Homes
Despite misinformation circulating, only top 2 percent of population will be subject to tax
A big piece of legislation like the health care reform act understandably sparks a lot of questions. The massive law, officially known as the Patient Protection and Affordable Care Act, was signed into law by President Obama in March but it will take some time for the American public to understand the nature of the changes.
The law includes provisions about how the government will pay for health care services, one of which is a “sales tax” on real estate. This issue has caused some concern among real estate professionals and consumers alike, and it’s important to understand that, while this tax does exist, it’s unlikely to affect a wide portion of your clients. In fact, The Tax Foundation estimates that only the top-earning two percent of families in this country are likely to be impacted at all.
In short, information is circulating that homeowners will face a 3.8 percent tax on the profit they may earn when selling their homes. The reality is this:
* The 3.8 percent tax on profits from the sale of investments, which includes real estate, applies only to individuals who make more than $200,000 per year, or married couples filing jointly who earn more than $250,000 per year.
* For those who make more than the cut-off, the tax won’t be applied to the first $250,000 in profit from the sale of a personal residence—or $500,000 if a married couple sells their home.
* The exclusion for the first $250,000 in profit (or $500,000 for a married couple) does not, however, apply to vacation homes or rental properties. Those properties—only for those who exceed the income limitations—will be subject to the tax.
* This new rule does not take effect until January 1, 2013.
This blog at Factcheck.org by Brooks Jackson contains a lot of information that clarifies the 3.8 percent real estate tax situation. In it, the author quotes William Ahern of the Tax Foundation: “Some home sales would see a tax increase under this bill, but it would have to be a second home or principal residence generating [a gain of] more than $250,000 ($500,000 for a couple).”
I encourage you to arm yourself with these details as concerns from sellers pop up. There are several resources available to you and your clients, including some clarification from the National Association of Realtors.
Everything we do begins with a real estate transaction and a professional
Sales Associate and we recognize and celebrate that fact.
Courtesy: Jeff Detwiler/Long & Foster
Despite misinformation circulating, only top 2 percent of population will be subject to tax
A big piece of legislation like the health care reform act understandably sparks a lot of questions. The massive law, officially known as the Patient Protection and Affordable Care Act, was signed into law by President Obama in March but it will take some time for the American public to understand the nature of the changes.
The law includes provisions about how the government will pay for health care services, one of which is a “sales tax” on real estate. This issue has caused some concern among real estate professionals and consumers alike, and it’s important to understand that, while this tax does exist, it’s unlikely to affect a wide portion of your clients. In fact, The Tax Foundation estimates that only the top-earning two percent of families in this country are likely to be impacted at all.
In short, information is circulating that homeowners will face a 3.8 percent tax on the profit they may earn when selling their homes. The reality is this:
* The 3.8 percent tax on profits from the sale of investments, which includes real estate, applies only to individuals who make more than $200,000 per year, or married couples filing jointly who earn more than $250,000 per year.
* For those who make more than the cut-off, the tax won’t be applied to the first $250,000 in profit from the sale of a personal residence—or $500,000 if a married couple sells their home.
* The exclusion for the first $250,000 in profit (or $500,000 for a married couple) does not, however, apply to vacation homes or rental properties. Those properties—only for those who exceed the income limitations—will be subject to the tax.
* This new rule does not take effect until January 1, 2013.
This blog at Factcheck.org by Brooks Jackson contains a lot of information that clarifies the 3.8 percent real estate tax situation. In it, the author quotes William Ahern of the Tax Foundation: “Some home sales would see a tax increase under this bill, but it would have to be a second home or principal residence generating [a gain of] more than $250,000 ($500,000 for a couple).”
I encourage you to arm yourself with these details as concerns from sellers pop up. There are several resources available to you and your clients, including some clarification from the National Association of Realtors.
Everything we do begins with a real estate transaction and a professional
Sales Associate and we recognize and celebrate that fact.
Courtesy: Jeff Detwiler/Long & Foster
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