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Home Selling Tips For
Spring Buyer's Market
If
you're planning to put your home on the market in
time for spring, now's the time to get it ready to
show.
But wait, it's still a buyer's market. What
can you do to catch the buyer's eye and get them to
make an offer?
It's going to take more than a fresh coat of
paint and a new welcome mat. A buyer's market raises
the stakes, and you'll find you need to do a lot
more work on your home than you think, if you want
to get the highest price possible.
You've heard that you should clean, paint and
repair, but that may not be enough. If your home is
cluttered and in disrepair, buyers won't pay top
dollar.
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Are You Leaving a Tax Deduction on the Table?
If
you refinanced your home recently, you're not alone.
According to Plunkett Research, approximately $1.1
trillion dollars in mortgage loans was refinanced in the
United States in 2006. But did you remember to take an
increased mortgage interest deduction on your tax return
if you were entitled to one?
Here's how it works. You are allowed to take a
deduction on your personal tax return for mortgage
interest you pay on a loan that is secured by either
your principal residence or a second home, up to one
million dollars in acquisition indebtedness. That means
mortgages, lines of credit and home equity loans all
qualify, as long as they are secured by your home, and
you are the primary borrower, and legally obligated to
repay that loan.
What you call your first and second homes can be
pretty open to interpretation. Pretty much anything will
qualify if it has sleeping, cooking and toilet
facilities.
CONTINUED >>>
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Five Reasons Houses
Beat Stocks
Despite
what Wall Street wants you to believe, owning a home
isn't the same kind of investment as stocks or bonds.
What you get is a USE asset that depreciates over
time, while it grows in market value. All you have to
do is keep the home in good repair to max out your
take.
Here are five reasons why you get more for your
money with a house than a worthless sock puppet.
Leverage: with stocks, you put in all your money for a
little piece of a company. With a house, you put in a
little money to get all of the house.
Tax benefits: Uncle Sam knows that owning a home is a
pain in the neck, that's why you get subsidies. These
are basically government bribes to get you to buy.
What other investment can you put in 5 percent of the
cost of the asset, reap all the appreciation and pay
no capital gains? That's right: live in your home two
years, rent it for three, sell it, and pay no tax on
capital gains up to 250,000 for singles, $500,000 for
married couples. And you're worried about paying too
much?
And that's not all - think about the benefits of
fixed-rate mortgages, property tax write-offs,
interest rate deductions, depreciation. Is this a
great country or what?
CONTINUED >>>
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More Articles:
Buying Real Estate On Oahu
Many new residents on Oahu and some long time Kama ،aina
have many misconceptions about the home buying process. Oahu and the
entire State of Hawai،i
are a unique market with unique land laws and conditions. So for
all of those buyers who think that prices are going to fall, there will
be plenty of bargains, or who believe any of the other mainland pundits;
let's discuss some facts.
While many mainland markets were hit with
devastating value losses, the median sales prices for existing single
family homes on Oahu rose 2.1% last year. As you can see below -
straight from the Honolulu Advertiser and the Honolulu Board of Realtors
(and as I predicted all of last year); sales prices (and therefore the
market values) of property on Oahu were
CONTINUED >>>
WHEN YOU ARE READY TO BUY!
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