Thinking of Selling?

If you are thinking of selling, it may be a good time. At least in my little corner of the world, there are not many homes on the market and there are buyers looking for homes.  The trick is to price your home right.  If you "Over Price" it just to see if someone will pay that, it may cost you in the long run. By cost, I mean time on the market. You will have to keep paying the mortgage, taxes, Hoa dues, and all other expenses while you are waiting for a buyer. There goes the extra you think you will get from a higher price. So keep that in mind when you decide what price you ask.

The current state of the government seems to be having an impact on sales. Let's all pray and hope it doesn't last much longer. Speaking of that, You may have noticed my blog is missing the NASA picture of the day. That is because the government closure has shut it down for now. Hopefully it will be back soon too.

Here are some things buyers may be looking for:

Helping Home Buyers

Experience Counts!

The Perks of Home Ownership

There are many good reasons for owning a home. Like No Pet Deposit! and Here are some more of them:

The Glass is Half Full

I like to think of the glass as Half Full not Half Empty...

Is It Worth It?

Should you spend money fixing up your home to sell it. Of course it needs to attract buyers. But where would you get the most  "Bang for your Buck"?...

Buy or Rent?

Did You Know?

Another Good Reason to Buy a Home...

Is It Time to Buy?

Tax Time

It's tax time again.  It is all so confusing. The best advice I can give is to consult with a professional!

"The hardest thing in the world to understand is the Income Tax."

-- Albert Einstein

 

"It would be nice if we could all pay our taxes with a smile, but normally cash is required."

-- Anonymous

American Taxpayers Relief Act signed into law

Here are some housing-related provisions included in the federal law:

• Mortgage Forgiveness Debt Relief Act extended for one year
• The “Pease Limitations” that reduced the value of itemized deductions, including the mortgage interest deduction, are permanently repealed for most taxpayers but will be reinstituted for high income filers.  This provision reduces a taxpayer's itemized deductions by 3 percent of the amount of his or her adjusted gross income (AGI) that exceeds the threshold amount.  Under the new law, the Pease thresholds are $300,000 for married taxpayers filing jointly and $250,000 for single taxpayers (i.e., a married couple with an AGI of $400,000 would be $100,000 over the threshold; the couple’s deductions would be reduced by $3,000 which is 3% of $100,000).  No matter how high a taxpayer's AGI, the Pease reduction cannot exceed 20 percent of the amount of itemized deductions otherwise allowable for the year. 
• The restoration of a tax deduction for mortgage-insurance premiums, including premiums paid to the Federal Housing Administration and private mortgage insurers.  This provision expired at the end of 2011 but has now been retroactively extended for all of 2012 as well as 2013.
• 10 percent tax credit (up to $500) for homeowners for energy improvements to existing homes is extended through 2013 and made retroactive to cover 2012.
• Capital gains rates will remain at 15 percent for those earning less than $400,000 (individual) and $450,000 (joint).   Gains above those income levels will be taxed at 20 percent.  Gains on the sale of principal residences will remain unchanged and continues to exclude the first $250,000 for single taxpayers and $500,000 taxpayers filing jointly.  

From January 9, 2013 C.A.R. Newsline

Reprinted with permission of the CALIFORNIA ASSOCIATION OF REALTORS®

Survey Says

Does anyone know for sure what the Real Estate Market is going to do? Probably not. Here is a survey released by the California Association of Realtors.

Prices will increase in the next 6 months:
65% Real Estate Agents 
39% Homeowners

Prices will decrease in the next 6 months:
11% Real Estate Agents
20% Homeowners

Prices will increase in the next 2 years:
79% Real Estate Agents
62% Homeowners

75% of Homeowners surveyed think their home is worth more than the suggested list price.
63% of Buyers think homes are overpriced.

I guess it depends on your point of view...is the glass half full or half empty?

What are you looking for in a home?

What are you looking for in a home. I wonder if this recent report matches the desires of my readers. Do Home buyers with families look for the same amenities as Baby Boomers and Retirees. Interesting....