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· Appraisals provide 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... Read Full Story
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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
holds true when 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, follow
these steps:
1. Purchase price: _______________________
The purchase price of the... Read Full Story
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· Consider comparable's. What have other homes in your
neighborhood sold for recently? How do they compare to yours in terms of
size, upkeep, and amenities?
· Consider competition. How many other houses are for sale in your area? Are you competing against new homes?
· Consider your contingencies. Do you have
special concerns that would affect the price you’ll receive? For
example, do you want to be able to move in four months?
· Get an appraisal. For a few... Read Full Story
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Make your home more appealing for yourself and potential buyers with these quick and easy tips:
1. Trim bushes so they don’t block windows or architectural details.
2. Mow your lawn, and turn on the sprinklers for 30 minutes before the showing to make the lawn sparkle.
3. Put a pot of bright flowers (or a small evergreen in winter) on your porch.
4. Install new doorknobs on your front door.
5. Repair any cracks in the driveway... Read Full Story
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1. Remove clutter and clear off counters. Throw out stacks of
newspapers and magazines and stow away most of your small decorative
items. Put excess furniture in storage, and remove out-of-season
clothing items that are cramping closet space. Don’t forget to clean out
the garage, too.
2. Wash your windows and screens. This will help get more light into the interior of the home.
3. Keep everything extra clean. A clean house will
make a strong first impression and send a message to... Read Full Story
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With more buyers shopping for homes on the Web, photos and virtual
tours are a must. There are many things you can do make your home shine
on camera.
1. Understand the camera’s perspective. The
camera’s eye is very different from the human eye. It magnifies clutter
and poor furniture arrangement. To make a home shine in a virtual tour
or video presentation, cater to the lens.
2. Make the home “Q-tip clean.” Because the camera
magnifies grime, each room must be spotless. Don’t... Read Full Story
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Provide the post office with your forwarding address two to four weeks ahead of the move.
Notify your credit card companies, magazine subscriptions, and bank of your change of address.
Create a list of friends, relatives, and business colleagues who need to be notified about your move.
Arrange to disconnect utilities and have them connected at your new home.
Cancel the newspaper, or change the address so it will arrive at your new home.
Check insurance coverage for the... Read Full Story
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· Advertise your open house . Ideally you should
advertise both the weekend before and the weekend of the open house.
Check with the local paper to see when their ad closing deadlines are.
· Create a property summary sheet. This
sheet gives prospective buyers an overview of your home. Include
dimensions for each room, copies of a property survey, summaries of
utility costs and property taxes, and a list of when capital items such
as roofs and furnace were added... Read Full Story
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Garage
sales can be a great way to get rid of clutter — and earn a little
extra cash — before you sell your home. But make sure the timing is
right. Garage sales can take on a life of their own, and it might not be
the best use of your energy right before putting your home on the
market. Follow these tips for a successful sale.
1. Don’t wait until the last minute. You don’t
want to be scrambling to hold a garage sale the week before an open
house. Depending on how long you’ve lived... Read Full Story
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1. Property disclosure form. This form requires you to reveal
all known defects to your property. Check with your state government to
see if there is a special form required in your state.
2. Purchasers access to premises agreement. This
agreement sets conditions for permitting the buyer to enter your home
for activities such as measuring for draperies before you move.
3. Sales contract. The agreement between you and
the seller on terms and conditions of sale. Again, check with your... Read Full Story

