|  Financial, Real Estate News, Selling a Home

Where to Find the True Value for Your Home

Ever wondered what your home is worth?

Want to know where to start looking?

Whether you’re just curious or are eager to find a competitive listing price, using the best resources to find your property’s value is crucial.

Today, we’re going to be talking about two types of home evaluation tools: neighborhood sold reports and comparative market analyses.

Comparing Your Home with Your Neighbor’s

A neighborhood sold report is a detailed list of homes that have recently sold in your area. They include information about the s...

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 |  Financial, Purchasing a Home, Real Estate News, Resources to Hire Professionals

Transaction Documents for the Buyer

When you walk away from the closing table with a big stack of papers, know what to file away for future reference.

Loan estimate
Your lender is required to provide you with this three-page document within three business days of receiving your loan application. It will show estimates for your interest rate, monthly payment, closing costs, taxes, and insurance. You’ll also learn how your interest rate and payments could change in the future, and whether you’ll incur penalties for paying off the loan early (called “prepayment penalty”) or i...

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 |  Company News, Financial, Home Maintenance, Purchasing a Home, Selling a Home

Trees Can Increase Your Property Value

You probably don’t think much about the trees on a home’s property unless they pose an immediate threat to the structure. But you may not be aware of how much value trees hold and how they can affect the price of your listing. John Palmer, an arborist who is certified by the International Society of Arboriculture, reveals the true benefits and liabilities of trees, what buyers should look for in home landscaping, and what sellers can do to protect the value of their trees.

Can trees actually affect the prope...

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 |  Financial, Selling a Home

How to Improve the Odds of an Offer

Price it right.   Set a price at the lower end of your property’s realistic price range while considering –
• Comparable properties: A “comp” is what real estate professionals call home sales that can be reasonably used to help determine the price of your home. But just because you’re in the same neighborhood doesn’t mean that the houses will sell for the same amount. Your real estate professional will help you determine how to compare your home in terms of size, upkeep, and amenities.
• Competition: How many other houses are for sale in you...

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 |  Company News, Financial, Purchasing a Home, Real Estate News, Resources to Hire Professionals

Questions to Ask the Condo Board

Before you purchase a condo, you should have an attorney review property documents for you. However, you should contact the board yourself ahead of time. You’ll learn how responsive and organized its members are and be alerted to potential problems.

How many units are owner-occupied?
Generally, the higher the percentage of owner-occupied units, the easier the condo will be to resell.

What covenants, bylaws, and restrictions govern the property?
Carefully read the bylaws to determine if you can abide by them. Also, find out if there are grandfather provisions th...

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 |  Financial, Purchasing a Home, Resources to Hire Professionals

Loans and Lending Terms

Below are a few terms that may assist you in your home search in terms of financing.   This is by no means a complete list or plan.  Be sure to always consult a trusted professional in these circumstances to protect your individual interest and rights.

Terms:  Mortgages are generally available at 15-, 20-, or 30-year terms. In general, the longer the term, the lower the monthly payment. However, shorter terms mean you pay less interest over the life of the loan.

Fixed vs. adjustable interest rates:  A fixed rate allows you to lock in a lo...

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 |  Company News, Financial, Purchasing a Home, Real Estate News, Resources to Hire Professionals

Prepare for House-Hunting

Know that there’s no “right” time to buy.   If you find the perfect home now, don’t risk losing it because you’re trying to guess where the housing market and interest rates are going.   Those factors usually don’t change fast enough to make a difference in an individual home’s price.

Don’t ask for too many opinions.   It’s natural to want reassurance for such a big decision, but too many ideas from too many people will make it much harder to make a decision.   Focus on the wants and needs of the people who will actually be ...

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 |  Financial, Resources to Hire Professionals, Selling a Home

How to Calculate Capital Gains for Real Estate Sales

WORKSHEET

Calculate Capital Gains

When you sell a stock, you owe taxes on the difference between what you paid for the stock and how much you got for the sale. The same holds true in home sales, but there are other considerations.

How to Calculate Gain

Your home’s original sales price when you bought it (not what you brought to closing).
Additional costs you paid toward the original purchase (include transfer fees, attorney fees, and inspections ...
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