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Don't Leave Home Without...

You’ve been planning this trip for some time and almost every detail has been considered…or has it? Have you thought about how to protect your home while you’re out of town? What’s going to make sure that everything you left is still there in you return?

Nothing could ruin a trip more than coming back to find out your home has been burglarized or worse. It makes sense to spend a little time before you leave on making sure your home is as safe and sound as it can be.

There are a host of devices to use across the Internet including camera door bells, video cameras, door locks, garage door openers, light and thermostat controls. You can monitor your home whenever you have an Internet connection. The question is whether you want the distraction from…

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Temporarily Renting a Home

IRS has provisions for homeowners regarding the sale of a principal residence that allows for temporarily renting the home without losing the ability to exclude the gain if the home is sold under the correct conditions.

The rules for the exclusion of gain on the sale of a principal residence are:

• Up to $250,000 of gain may be excluded for single taxpayers and up to $500,000 for married taxpayers filing jointly.
• Ownership and Use must have been a principal residence for two of the five years preceding the date of sale (closing date). This allows for a temporary rental for up to three years maximum.
• Either spouse may meet the ownership test.
• Both spouses must meet the use test.
• No exclusion has been used in the previous 24-month…

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Time to Buy Again

For people who have experienced a distressed sale of a home and gotten their finances and credit back in shape, there can still be an unanswered question of “How long do we have to wait to qualify for another mortgage.” The loan types for the new loan will differ in amounts of time based on the event.

The different lending authorities, VA, FHA, Fannie Mae (FNMA) and Freddie Mac (FHLMC), establish their own waiting periods. A borrower may be eligible to qualify for one type of mortgage before another type, even though during this waiting period, that the person was current on all payments and maintained a history of good credit.

The following chart indicates how long a person might have to wait.

A recommended lender can give you specific…

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Tech to Find the Right Home

According to the 2018 Profile of Buyers and Sellers, 52% of buyers want help to find the right home to purchase. Physically locating the home is certainly part of what buyers want from their agent but finding the right home at the right price and terms is also crucial.

87% of buyers purchased their home through a real estate agent or broker. Slightly more than half of buyers were referred to their real estate professional by/or is a friend or relative or had used the agent previously to buy or sell a home.

There are tech tools that can be used together with the expertise and experience of your real estate professional to make the home buying process efficient and effective.

Listing Alert … while this service is called by other names, the…

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A Home Warranty Can Save Money

Your income tax is probably filed for last year by now and you’ve been through your expenses for the year. Money spent on repairs to your home is not deductible but being aware of how much you spent last year may help you make a decision that could save you money this year.

Sellers, often, provide a home warranty to buyers to give them peace of mind by limiting some of the out-of-pocket money spent on unexpected repairs for one year. Home warranties can be renewed by the buyer by paying the annual fee and any homeowner can purchase one for their home whether they had one when they bought it or not.

A home service contract typically covers mechanical systems and built-in appliances in the home. Many times, these items are not covered by the…

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To-Do List for Better Homeowners

Checklists work because they contain the important things that need to be done. They provide a reminder about things we know and realize but may have slipped our minds as well as inform us about things we didn’t consider. Periodic attention to these areas can protect the investment in your home.

1. Change HVAC filters regularly. Consider purchasing a supply of the correct sizes needed onlineand they’ll even remind you when it’s time to order them again.
2. Change batteries in smoke and carbon monoxide detectors annually.
3. Create and regularly update a Home Inventory to keep track of personal belongings in case of burglary or casualty loss.
4. Keep track of capital improvements, with a Homeowners Tax Guide, made to your home throughout the year…

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More Than Just an Address

For a short time after the housing crisis a decade ago, some homeowners thought the value of home is a place to live rather than an investment. A home certainly has an appeal as a place to call your own, raise your family, share with your friends and feel safe and secure. It can be more than an address; it can also be one of the largest investments homeowners have.

Most mortgages apply a portion of the payment toward the principal amount owed in order to pay off the loan by the end of the term. This acts like a forced savings for the homeowner because as the loan is reduced, the equity grows which increases their net worth.

The other contributor to equity is appreciation. Most homeowners don’t realize the increase in value until they sell the…

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Do You Know the Way?

Fear of the unknown is common among all ages. Kids, at night, imagine monsters in their closets or under their beds and adults are unsure of what the future might bring.

It may be natural for first-time buyers to be unsure of the process because they haven’t been through it before but even repeat buyers need to know changes that have taken place since the financial housing crisis.

The steps in the home buying process are very predictable and generally follow the same pattern every time. It certainly makes the move stay on schedule when you know all the different things that must be done to get to the closing.

• In the initial interview with your real estate professional, you share the things you want and need in a home, discuss available…

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When It's Important...Find the Facts

Most parents don’t put a lot of credence in the statements “Everyone is doing it” and “No one does that anymore.” They’ll dig a little deeper and get the facts of the situation. Interestingly, when it comes to buying a home, similar common myths continue to prevail surrounding what it takes to buy a home.

One of the most common myths is that it takes 20% down payment to get into a home. Certainly, an 80% mortgage might have the most favorable interest rate. It won’t require mortgage insurance and qualifying requirements might be a little less but there are alternatives.

“88% of all buyers financed their homes last year and consistent with previous years, younger buyers were more likely to finance their home purchase. In 2018, the median down…

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Your Real Estate Resource

Being a better homeowner is a full-time job. It takes good information to make good decisions not only when you buy and sell but all the years you own a home.

Think of times when you need advice on financing, taxes, insurance, maintenance, finding reasonable and reliable contractors and lots of other things. Imagine how nice it would be to have a real estate information line you could call whenever you have a question.

Our objective is to move from a one-time sale to customers for life; a select group of friends and past customers who consider us their lifelong real estate professional. We believe that if we help you and your friends with all your real estate needs, we can earn the privilege to be your real estate professional.

Throughout the…

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