Real Estate Market

Preparing Your Home For Sale

Before placing your house on the market, make as many repairs and improvements as you can. It will be worth it. "New" and "just replaced" are the magic words to attract buyers, according to Homestore.com.

Steam clean or replace carpet, fix loose door knobs and railings, make sure windows and doors open and close easily. Apply a fresh coat of paint where needed.

But you may find yourself deliberating over larger problems. Should you replace the crumbling driveway? Buy new kitchen appliances? Refinish the floors? Big repairs cost more time and money. You can factor that into your asking price and allow the buyer to take care of it upon closing.

On the other hand, the better condition your home is in, the wider the group it will appeal to. When making a decision of this kind, consider that repairing the problem could also result in a higher sale price. The best thing to do is start making these repairs a year or two before you plan to move. Then you get to enjoy the results too!

Tax Credit for Buyers 2010

Tax Credit Creates More Opportunities for Buyers

When the federal government announced the first-time home buyer’s tax credit last year, the housing industry saw a wave of new buyers eager to take advantage of an unprecedented opportunity. Sellers enjoyed a pool of new buyers trying to meet a deadline. It was a great move for buyers, sellers and our economy.

Now, with the recent extended and expanded tax credit adding current homeowners to the buyer pool, up or down-sizing to a more desirable home is more appealing. We are already beginning to see signs of additional activity in the mid and luxury home markets. Please see the graphs to the right to determine if there is a trend already happening in your area.

Current homeowners who have lived in their primary residence for five of the last eight years are eligible for a tax credit of up to $6,500. First time buyers, which include buyers who have not owned a primary residence in the last three years, are eligible for up to an $8,000 tax credit.

The tax credit is just that - a credit against your tax liability and often results in a refund check. For example, a current homeowner who qualifies for the $6,500 credit and has a 2009 tax liability of $4,000, would be allowed a full tax credit of $4,000 and receive a check for the remaining $2,500. Check with your tax accountant or attorney about how the credit would work specific to your personal situation.

Please remember me if you or someone you know is interested in selling a home, I can help you take advantage of the tax credit before the April 30th deadline.

Moving with Children

For America's youngest movers, moving to a new home can be an unsettling experience. The excitement of meeting new friends or decorating a new room is often outweighed by fears of losing touch with old friends or fitting in at a new school.

Here are some tips to help ease the anxiety children may feel when changing addresses:

Include your children in decorating decisions for the new room.
Assign your children a box to pack, or glassware to wrap, so they feel involved.
Familiarize them with your new neighborhood, and located some of your family's favorite restaurants and stores. This will help your children feel more at home.
Introduce yourself to your new neighbors before moving, and invite them and their children over to get acquainted.

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