Save Money…Be Comfortable

April 23, 2012 By Leave a Comment

Automatic thermostats can lower your monthly utility costs while conveniently regulating your comfort by adjusting temperatures on your heating and cooling systems. These can be particularly effective in homes with zoned systems where you live in one area during the day but sleep in a different zone. There are programmable thermostats available at home improvement stores that can make the adjustments for specific times during the day and specific days of the week. They'll allow you to override the setting when needed … [Read more...]

Filed Under: Real Estate Tagged With:

7 Reasons to Own Your Own Home

April 16, 2012 By Leave a Comment
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 Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, property taxes you pay, and some of the costs involved in buying your home.  Gains. Between 1998 and 2002, national home prices increased at an average of 5.4 percent annually. And while there's no guarantee of appreciation, a 2001 study by the NATIONAL ASSOCIATION OF REALTORS found that a typical homeowner has approximately $50,000 of unrealized gain in a home.  Equity. Money paid for rent is money that you'll never see again, … [Read more...]

Filed Under: Buying Tagged With: , , ,

The Pros and Cons of Condos

April 9, 2012 By Leave a Comment
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Condominiums and townhouses offer an affordable option to single-family homes in most areas. But consider these facts before you buy.  Storage. Some condos have storage lockers, but usually there are no attics or basements to store belongings.  Outdoor space. Yards and outdoor areas are usually smaller in condos, so if you like to garden or entertain outdoors, this may not be a good fit. However, if you hate yard work, this may be the perfect option for you.  Amenities. Many condo properties have swimming … [Read more...]

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Home Improvement

April 2, 2012 By Leave a Comment
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There are Two Reasons For Pursuing Major Home Improvement Projects: 1. Just Want To Do It - You want some new features in a home to improve your family's quality of life, but you don't want to leave your current home. 2. Really Need To Do It - You want to make your home more marketable to maximize return (or minimize loss) and speed up the sale process. In the right market conditions, a project might fit into both categories. Other times, though, the two approaches will conflict: Just Want To Do It The … [Read more...]

Filed Under: Selling Tagged With: , ,

Types of Mortgages

March 26, 2012 By Leave a Comment
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Fortunately for buyers, there are a variety of mortgages to choose from. It is in your best interest to investigate each of them to determine which is the best for your situation. You probably won't qualify for all of them. In fact, you may only qualify for one. But if you do qualify for more than one, you may save yourself money (or worry) in the long run if you do your homework before signing on the dotted line. Fixed Rate Mortgages Consider a fixed rate mortgage if either of the following describes you: You … [Read more...]

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Understanding Capital Gains in Real Estate

March 19, 2012 By Leave a Comment
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When you sell a stock, you owe taxes on your gain the difference between what you paid for the stock and what you sold it for. The same is true with selling a home (or a second home), but there are some special considerations. How to Calculate Gain In real estate, capital gains are based not on what you paid for the home, but on its adjusted cost basis. To calculate this: 1. Take the purchase price of the home: This is the sale price, not the amount of money you actually contributed at closing. 2. Add … [Read more...]

Filed Under: Homeowners Tagged With: , , , ,

6 Items to Have on Hand for the New Homeowners

March 12, 2012 By Leave a Comment
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 Owners manuals for items left in the house.  Warranties for any items left in the house. A list of local service providers the best dry cleaner, yard service, etc Garage door opener. Extra sets of house keys. Code to burglar alarm and phone number of monitoring service if not discontinued.     Photo Credit:  Some rights reserved by adelle roux … [Read more...]

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5 Property Tax Questions You Need to Ask

March 5, 2012 By Leave a Comment
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What is the assessed value of the property? Note that assessed value is generally less than market value. Ask to see a recent copy of the seller's tax bill to help you determine this information. How often are properties reassessed and when was the last reassessment done? Generally taxes jump most significantly when a property is reassessed. Will the sale of the property trigger a tax increase? Often the assessed value of the property may increase based on the amount you pay for the property. And in some areas, such … [Read more...]

Filed Under: Buying

10 Ways to Lower Your Homeowners Insurance Costs

February 27, 2012 By Leave a Comment
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Raise your deductible. If you can afford to pay more toward a loss that occurs, your premiums will be lower. Buy your homeowners and auto policies from the same company. You'll usually qualify for a discount. But make sure that the savings really yields the lowest price.  Make your home less susceptible to damage. Keep roofs and drains in good repair. Retrofit your house to protect against natural disasters common to your area.  Keep your home safer. Install smoke detectors, burglar alarms, and dead-bolt … [Read more...]

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What Is Appraised Value?

February 20, 2012 By Leave a Comment
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It's an objective opinion of value, but it's not an exact science so appraisals may differ. For buying and selling purposes, appraisals are usually based on market value what the property could probably be sold for. Other types of value include insurance value, replacement value, and assessed value for property tax purposes. Appraised value is not a constant number. Changes in market conditions can dramatically alter appraised value. Appraised value doesn't consider special considerations, like the need to sell … [Read more...]

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