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Posted by Heidi Mahoney on 6/5/2017

Adding a home to the real estate market offers a great first step to sell your residence. However, before you list your house, you'll want to consider the short- and long-term ramifications.

Ultimately, there are several key decisions for home sellers to make before they list their residences, including:

1. What Are My Future Plans?

After you sell your house, where will you live? You'll need to consider life after your home sale so that you can map out the home selling journey accordingly.

For example, if you've recently accepted a new job in a new state, you may need to sell your home as quickly as possible. This also may require you to find a new place to live immediately.

On the other hand, if you already have another residence lined up, you may be able to slow down the home selling process. This will ensure you can take your time, perform plenty of housing market research and do everything possible to maximize the value of your home sale.

2. How Much Is My Home Worth?

What you originally paid for your house is unlikely to match your home's present value. As such, you'll need to understand what your home is worth today so you can price it appropriately.

A home appraisal will make it easy for you to learn about your house's strengths and weaknesses. During this appraisal, a home inspector will examine your property's interior and exterior and identify any problem areas. Then, you can better understand the true value of your house.

Don't forget to look at the prices of comparable houses in your city or town too. This can provide you with valuable housing market data and help you understand whether you're getting ready to sell a home in a buyer's or seller's market.

3. What Can I Do to Enjoy a Fast, Seamless Home Selling Experience?

The home selling journey can be tricky, particularly for those who are preparing to sell a house for the first time. Lucky for you, real estate agents are available in cities and towns nationwide, and these housing market professionals can help you enjoy a fast, seamless home selling experience.

A real estate agent boasts comprehensive housing market experience. He or she can offer tips to help you revamp your house's interior and exterior before you add your residence to the real estate market. That way, you can boost your chances of a quick home sale.

Also, a real estate agent will go above and beyond the call of duty throughout the home selling journey. This housing market professional will set up home showings and open houses, keep you up to date about offers on your home and negotiate with homebuyers on your behalf. And if you ever have home selling questions, a real estate agent is happy to respond to your queries immediately.

Collaborate with a real estate agent as you prepare to embark on the home selling journey, and you can move one step closer to maximizing the value of your residence.




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Posted by Heidi Mahoney on 4/3/2017

Looking to add your condo to the real estate market? Ultimately, you'll want to set a "fair" price for your property. By doing so, you can stir up plenty of interest in your condo and boost your chances of a fast property sale.

List your condo at a price that meets the needs of both property buyer and seller – here are three tips to ensure you can price your condo properly.

1. Study the Housing Market

How does your condo rate against similar properties? Examine the housing market closely, and you can understand what differentiates your property from others that are currently available.

Check out the prices of comparable condos that have been added to the real estate market recently. That way, you can learn how other condo sellers are pricing their properties and map out your condo pricing strategy accordingly.

Also, evaluate the prices of condos that have sold over the past few months. This will allow you to identify real estate market patterns and trends and may help you establish a competitive price.

2. Hire a Property Appraiser

A property appraiser understands what it takes to assess a condo both inside and out. Therefore, if you conduct a condo appraisal, you can learn about your property's strengths and weaknesses.

During a condo evaluation, a property appraiser will identify problem areas across your residence. Then, he or she will provide a report that you can review to understand how you can enhance your property's value.

Take the results of a property appraisal seriously. If a property appraiser finds minimal problems with your condo, you may be good to go to establish a fair price for your residence.

On the other hand, if a property appraiser discovers a wide range of condo issues, allocate the necessary time and resources to mitigate these problems. In this scenario, you may need to lower your expectations for your condo's asking price based on the current state of your property. Or, you can perform assorted property improvements to bolster your condo's value.

3. Collaborate with a Real Estate Agent

Want expert insights into how to price your condo competitively? Work with a real estate agent, and you can receive comprehensive support as you prepare to add your residence to the housing market.

A real estate agent can make a world of difference for a condo seller, and for good reason. This housing market professional will teach you about the current real estate market and help you determine the right price for your condo.

Let's not forget about the assistance that a real estate agent will provide throughout the condo selling process, either.

With a real estate agent at your side, you can receive help with condo showings, negotiations with condo buyers and much more. And if you ever have condo selling questions, a real estate agent will be able to provide instant responses.

Set the right price for your condo – use these condo selling tips, and you can move one step closer to maximizing the value of your property.




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Posted by Heidi Mahoney on 3/27/2017

Springtime brings warm temperatures and lots of sunshine. It also may prove to be a great time to add your home to the real estate market, and for good reason.

Ultimately, there are many reasons to list your home in spring, including:

1. Many homebuyers are ready to take advantage of their tax refund checks.

Tax season concludes in spring, which means many Americans will receive tax refund checks. Meanwhile, Americans who receive hundreds or thousands of dollars in tax refunds may be ready to use their tax refund checks to pursue properties.

For home sellers, it is important to dedicate the necessary time and resources to ensure that you home stands out from others in the spring real estate market. If you boost your property's curb appeal, you may be able to make a positive first impression on homebuyers. As a result, homebuyers may be more likely to submit an offer on your home over others.

2. There may be less competition from other home sellers.

When the temperatures improve, interest in the housing market heats up. As such, home sellers who are ready to list their properties in spring may face less competition than they would during summer.

Remember, the early bird catches the worm, particularly in the housing market. As a home seller, you should do everything you can to get your home ready to add to the real estate market in spring. By doing so, you may be able to gain a competitive advantage, one that could help you accelerate the home selling process and maximize the value of your property.

Try to complete home interior improvements in winter if possible. This will ensure that you can get your house ready for spring. And when spring finally arrives, you should have no trouble adding your house to the real estate market without delay.

3. Many experienced real estate agents are available.

Selling a home in spring may be difficult, especially for home sellers who are listing a property for the first time. Lucky for you, many experienced real estate agents are available to help you sell your house in spring.

Unfortunately, not all real estate agents are created equal, and it is important to collaborate with a real estate agent who has your best interests in mind. You should try to find a real estate agent with a proven reputation, i.e. someone who understands the spring real estate market. In addition, your real estate agent should be able to set up open houses, keep you up to date on offers on your home and respond to your concerns and questions.

Spend some time assessing real estate agents in your area – you'll be happy you did. Meet with real estate agents and review their qualifications, and you can improve your chances of finding the perfect real estate agent to help you sell your house in spring.

Spring offers many opportunities for home sellers. And if you plan accordingly, you should have no trouble generating plenty of interest in your home during springtime.




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Posted by Heidi Mahoney on 11/14/2016

For home sellers, revamping a kitchen can help transform an ordinary house into an exceptional home. In fact, a high-quality kitchen may make a world of difference for a prospective homebuyer who is considering multiple properties. So what does it take to transform your home's kitchen into an asset that can improve the value and quality of your entire home? Here are three kitchen improvement tips that every home seller needs to know: 1. Plan Ahead. Spend some time planning out how you want your kitchen to look. By doing so, you'll be able to map out your kitchen, decide where new appliances like a refrigerator and stove should go and work toward creating an awe-inspiring kitchen. To plan for your future kitchen, you'll want to consider your current kitchen, too. Your current kitchen might not be perfect, but you should try to keep things in place that you enjoy and get rid of things you don't. 2. Focus on Quality Over Appearance. A sleek appliance won't necessarily prove to be the best appliance. However, a top-rated appliance likely will serve as a viable option in just about any kitchen. Remember, homebuyers frequently search for value, particularly when it comes to a residence's kitchen. As such, you'll want to equip your kitchen with first-rate appliances, especially if you plan to include these appliances as part of a home sale. Ultimately, state-of-the-art appliances could serve you well. And even though you may wind up paying more for high-end appliances, these items could help you receive better offers for your residence. 3. Use Lighting to Your Advantage. Your kitchen should function as a bright, inviting space. Meanwhile, with the right lighting in place, you'll be able to show homebuyers that your residence's kitchen can provide a wonderful spot for family dinners, special events and much more. Ambient lighting such as flush-mounted ceiling lamps and wall sconces can help your kitchen make a distinct impression on homebuyers. Furthermore, task lighting such as under-cabinet lighting offers a perfect mix of form and function, as it can illuminate a particular area of your kitchen and looks great day after day. Don't be afraid to consider a variety of lighting options as you look to reinvent your kitchen. With the right lighting in your kitchen, you'll be able to effectively illuminate this space. Of course, when it comes to revamping your residence's kitchen, your real estate agent may be able to help out as well. This real estate professional can offer suggestions and recommendations and enable you to find the best ways to enhance your kitchen without breaking your budget. Kitchen improvements are paramount for home sellers who want to make their residences more attractive to homebuyers. And home sellers who are committed to accelerating their chances of a fast sale can work toward bolstering the quality and appearance of any kitchen thanks in part to the aforementioned tips. Begin your kitchen improvements today, and you'll be able to increase your chances of generating significant interest in your home.





Posted by Heidi Mahoney on 11/7/2016

A common question for sellers is if they will owe capital gains tax when they sell their home. The answer to that question: it depends. The capital gains tax law known as the Taxpayer Relief Act went into effect in 1997 but there is still a lot confusion over who pays what and why. If you sell your home you will not have to pay capital gains tax if:

  • You are selling your personal residence.
  • You have $250,000 in profit or less if you are single and $500,000 if married.
  • You have lived in your home for two of the last five years.
  • The home is not an investment property.
The capital gains exclusion can be used as many times as you like as long as it meets all of the above criteria. If you are going to make more than $250,000/$500,000 in profit you will be taxed at a 20% capital gains tax rate on the amount over the $250,000/$500,000 threshold. There are exceptions to the rule. You may be eligible for a tax break if:
  • You need to sell your home because a change in health.
  • You need to sell your home because of a long distance relocation.
  • You are in the armed services and moved to fulfill your service commitments.
Your individual tax situation may be different, so make sure to consult a qualified tax accountant or attorney.  







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