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Tag Archives: home-ownership

9 Tips for Taking Photos That Help Your Home Sell

2016-04-PhotoTips

1. Turn off the flash.
Open the curtains and try to use as much natural light as possible. Flashes can create unattractive shadows and distracting bright spots.

2. Think big.
Shoot from the doorway or from the corner to include as much of a room as possible. Rooms shot from an angle seem bigger.

3. Avoid photobombs.
Yes, your kids and pets are darling, but you’re not trying to sell them (hopefully). Keep them out of your listing shots.

4. No selfies.
To avoid starring in your photos, shoot mirrors from an angle.

5. Shoot from the hip.
Or chest. Shooting from a kneeling position helps make a room seem more spacious.

6. Go for a close-up.
Highlight architectural detailing, such as molding or tile work, with a close-up image.

7. Overcast is underrated.
Exterior photos have more depth when they’re taken on a cloudy day.

8. Take tons.
Take several pictures from each angle and in different lighting schemes to give yourself some options.

9. Use photo-editing software.
There are lots of free, easy-to-use photo editing tools available online that allow you to brighten your images and crop away distractions.

Your Realtor can help you pick the best images of your home, or find a talented pro to take some. Find a RE/MAX All Pro agent here.

Sellers: How to Decide Between Multiple Home Offers

20162903-DecideBetweenOffers

What a splendid dilemma! You’ve received several offers on your property. Which one should you choose? It’s not always the highest one.

Here are just some of the areas your agent could ask you to pay particularly close attention to as you’re weighing the options.

1. Do the math
This goes beyond simply calculating the dollar difference between the various offer prices. Before you do that, be sure to do all the math. Subtract things like closing costs, fees and potential repairs to determine the net proceeds of each offer.

2. Consider the financing
Can the buyer provide proof from the bank that there are funds to back the offer? Your agent can help verify this – and help you understand the terms of the buyer’s financing.

3. Motivation
Do the buyers have a baby-sitting parent in the neighborhood? A new job just around the corner? Buyers with extra motivation to purchase your home are less likely to press for concessions and more likely to work harder to close the deal. Some buyers even include a personal letter with their offer to explain why they want the home. These letters can be particularly helpful in multiple-offer situations.

4. Timeline
Note the closing date each offer proposes. You’ll want a closing date that best meets your needs. You can always counter a closing date, too, if the best offer doesn’t quite meet your timeline.

Weighing the pros and cons of each offer can be tricky. An experienced agent can help you clarify, calculate and secure the very best deal for you. Find a local RE/MAX agent who can help.

4 Resources for First-Time Homebuyers

2015-11resources

Surveys show that first-time buyers aren’t aware of how much they need to save for a down payment. Many people believe that buying a home requires they put down at least 20 percent of the purchase price, but down payments aren’t as big of an obstacle as people think. For example, a loan through the Federal Housing Administration could require a down payment as low as 3.5 percent; Fannie Mae and Freddie Mac have similarly low requirements.

If you qualify for a loan with a low down payment but still have trouble coming up with the cash, here are a few of the many programs out there that can help. Do some research to find out what’s available in your area.

1. Help getting down
The federal Department of Housing and Urban Development (HUD) gives community development block grants to states and local governments across the country to help revitalize certain areas. HUD’s HOME Investment Partnerships Program (HOME) is one such program. States often have their own programs for down payment assistance, too.

2. Opening up options for closing
The Federal National Mortgage Association, a.k.a. Fannie Mae, designed the HomePath Ready Buyer program to attract new homebuyers to the market. Through the program, qualifying first-time homebuyers can get assistance of up to 3 percent of closing costs after they pass an online homeownership course.

3. Making ownership less taxing
Some state governments provide first-time buyers with a tax credit to boost homeownership.

4. Helping heroes
The U.S. Department of Veterans Affairs (VA) Home Loan Guaranty Service helps veterans or surviving spouses obtain better terms for their mortgage by guaranteeing a portion of the loan. Some VA mortgages require no down payment.

Check the National Council of State Housing Agencies for more opportunities available in your state.

Contact a local RE/MAX All Pro agent today.

Be more Environmentally Aware at Home

Here are some helpful (and colorful!) stats, guidelines and cost-saving ideas for making your home more eco-friendly. With the extreme temperatures in the Antelope Valley these tips are especially helpful.

remax-think-green-800

7 Smart Steps Every New Homeowner Should Take

Antelope Valley Real Estate Experts

RE/MAX All-Pro Presents Real Estate Tips from Investopedia

800.336.3629 Bringing families Home Serving the Entire Antelope Valley Since 1990 

7 Smart Steps Every New Homeowner Should Take

Turning the key in a lock that no landlord has access to, reading in a hammock in your own backyard and painting your dining room bright red – what could be more exciting than making the leap from renter to first-time homeowner? Getting swept up in all the excitement is a wonderful feeling, but some first-time homeowners lose their heads and make mistakes that can jeopardize everything they’ve worked so hard to earn.

TUTORIAL: How To Buy Your First Home

Don’t be one of those people; take a few moments to ponder these seven practical concerns that will help ensure that your first home becomes the place of luxury and financial freedomyou’ve anticipated.

1. Don’t Overspend on Furniture and Remodeling 
You’ve just handed over a large portion of your life savings for a down paymentclosing costs and moving expenses. Money is tight for most first-time homeowners – not only are their savings depleted, their monthly expenses are often higher as well, thanks to the new expenses that come with home ownership, such as water and trash bills, and extra insurance.

 

Everyone wants to personalize a new home and upgrade what may have been temporary apartment furniture for something nicer, but don’t go on a massive spending spree to improve everything all at once. Just as important as getting your first home is staying in it, and as nice as solid maple kitchen cabinets might be, they aren’t worth jeopardizing your new status as a homeowner. Give yourself time to adjust to the expenses of home ownership and rebuild your savings – the cabinets will still be waiting for you when you can more comfortably afford them. (For further reading, see To Rent Or Buy? The Financial Issues.)

 

2. Don’t Ignore Important Maintenance Items
One of the new expenses that accompanies home ownership is making repairs. There is no landlord to call if your roof is leaking or your toilet is clogged (on the plus side, there is also no rent increase notice taped to your door on a random Friday afternoon when you were looking forward to a nice weekend). While you should exercise restraint in purchasing the nonessentials, you shouldn’t neglect any problem that puts you in danger or could get worse over time, turning a relatively small problem into a much larger and costlier one. (For tips on how to spot problems with a potential home before you buy it, see Do You Need A Home Inspector?)

 

3. Hire Qualified Contractors
Don’t try to save money by making improvements and repairs yourself that you aren’t qualified to make. This may seem to contradict the first point slightly, but it really doesn’t. Your home is both the place where you live and an investment, and it deserves the same level of care and attention you would give to anything else you value highly. There’s nothing wrong with painting the walls yourself, but if there’s no wiring for an electric opener in your garage, don’t cut a hole in the wall and start playing with copper. Hiring professionals to do work you don’t know how to do is the best way to keep your home in top condition and avoid injuring – or even killing – yourself. (For tips on finding qualified workers, read The Better Business Bureau’s Tool Belt For Saving Cash. For home improvement projects most homeowners can tackle themselves, read Do-It-Yourself Projects To Boost Home Value.)

 

4. Get Help with Your Tax Return 
Even if you hate the thought of spending money on an accountant when you normally do your returns yourself, and even if you’re already feeling broke from buying that house, hiring an accountant to make sure you complete your return correctly and maximize your refund is a good idea. Home ownership significantly changes most people’s tax situations and the deductions they are eligible to claim. Just getting your taxes professionally done for one year can give you a template to use in future years if you want to continue doing your taxes yourself. (For more insight, see Crunch Numbers To Find The Ideal Accountant and Give Your Taxes Some Credit.)

 

5. Keep Receipts for Home Improvements
When you sell your home, you can use these costs to increase your home’s basis, which can help you to maximize your tax-free earnings on the sale of your home. In 2008, you could have earned up to $250,000 tax free from the sale of your home if it was your primary residence and you had lived there for at least two of five years before you sold it. This assumes that you owned the home alone – if you owned it jointly with a spouse, you could each have gotten the $250,000 exemption. (To learn more about how having a spouse can affect your tax return, read The Tax Benefits Of Having A Spouse and Happily Married? File Separately!)

 

Let’s say you purchased your home for $150,000 and were able to sell it for $450,000. You’ve also made $20,000 in home improvements over the years you’ve lived in the home. If you haven’t saved your receipts, your basis in the home, or the amount you originally paid for your investment, is $150,000. You take your $250,000 exemption on the proceeds and are left with $50,000 of taxable income on the sale of your home. However, if you saved all $20,000 of your receipts, your basis would be $170,000 and you would only pay taxes on $30,000. That’s a huge savings: in this case, it would be $5,000 if your marginal tax rate is 25%. (For more insight, see Is it true that you can sell your home and not pay capital gains tax?)

 

6. Don’t Confuse a Repair with an Improvement
Unfortunately, not all home expenses are treated equally for the purpose of determining your home’s basis. The IRS considers repairs to be part and parcel of home ownership -something that preserves the home’s original value, but does not enhance its value. This may not always seem true. For example, if you bought a foreclosure and had to fix a lot of broken stuff, the home is obviously worth more after you fix those items, but the IRS doesn’t care – you did get a discount on the purchase price because of those unmade repairs, after all. It’s only improvements, like replacing the roof or adding central air conditioning, which will help decrease your future tax bill when you sell your home.

 

For gray areas (like remodeling your bathroom because you had to bust open the wall to repair some old, failed plumbing), consult IRS Publication 530 and/or your accountant. And on a non-tax-related note, don’t trick yourself into thinking it’s OK to spend money on something because it’s a necessary “repair” when in truth it’s really a fun improvement. That isn’t good for your finances. (To find out which improvements can add the most value to your home, read Add Value To Real Estate Investments.)

 

7. Get Properly Insured
Your mortgage lender requires you not only to purchase homeowners insurance, but also to purchase enough to fully replace the property in the event of a total loss. But that’s not the only insurance coverage you need as a homeowner. If you share your home with anyone who relies on your income to help pay the mortgage, whether it’s a girlfriend or a child, you’ll need life insurance with that person named as a beneficiary so he or she won’t lose the house if you die unexpectedly. Similarly, you’ll want to have disability-income insurance to replace your income if you become so disabled that you can’t work. (For ideas on how to save money on your home insurance, readInsurance Tips For Homeowners.)

 

Also, once you own a home, you have more to lose in the event of a lawsuit, so you’ll want to make sure you have excellent car insurance coverage. If you are self-employed as a sole proprietor, you may want to consider forming a corporation for greater legal protection of your assets. You may also want to purchase an umbrella policy that picks up where your other policies leave off. If you are found at fault in a car accident with a judgment of $1 million against you and your car insurance only covers the first $250,000, an umbrella policy can pick up the rest of the slack. These policies are usually issued in the millions. (For more on car insurance, see Shopping For Car Insurance.)

Bottom Line
With the great freedom of owning your own home comes great responsibilities. You must manage your finances well enough to keep the home and maintain the home’s condition well enough to protect your investment and keep your family safe. Don’t let the excitement of being a new homeowner lead you to bad decisions or oversights that jeopardize your financial or physical security. 

 

For further reading, see To Rent Or Buy? There’s More To It Than Money.

 

Amy Fontinelle is a financial journalist and editor for a variety of websites, public policy organizations, and book publishers. She has written hundreds of published articles and blog posts on topics including budgeting, credit management, real estate and investing. Her articles have been featured on the homepage of Yahoo! and on Yahoo! Finance, Forbes.com, SFGate.com and numerous local news websites.

 

 

Read more: http://www.investopedia.com/articles/mortgages-real-estate/09/new-homeowner-tips.asp#ixzz1T9Kf8Wwr

Antelope Valley Real Estate Experts800.336.3629 Bringing families Home Serving the Entire Antelope Valley Since 1990 

Buying Homes in the Antelope Valley; Palmdale/Lancaster Real Estate

 Buying Homes in the Antelope Valley; Palmdale/Lancaster Real Estate

Have you noticed how some “housing experts” say that demand is “overwhelmed by supply” while others throw out estimates of an “excess supply” of over three million homes? Yet, buyers keep saying how there‟s nothing to choose from? Worse yet, when they do finally find a home they want, they often submit an offer only to find that theirs is one of multiple offers the seller‟s received! Do you have a bidding war and multiple offers in your market on any listings? What‟s going on? How can in- ventory be high with slim pickings and multiple offers? According to one study, although listings may be up from January-which is true every year due to the annual winter hibernation of the housing market-on-market inventoryand new listings, are actually down from this same time last year. The study continues, “every „major market‟ except Las Vegas has less listings than this time in 2010”! Moreover, new listings of non-distressed homes, which are more frequently well-kept and owner-occupied (i.e. the kind of home that most non-investor buyers are interested in), are falling over twice as fast as bank-owned (REO) listings. Where all the listings are hiding? -Jack

From the study, “If we don‟t start to see more listings from owners who have the equity to put their homes on the market, prices of increasingly rare non-distressed listings seem likely to stop falling soon, just due to basic supply and demand. Of course, that claim leads to the big ques- tion: howsoon?” Although supply and demand are the primary drivers of the real estate market, prices seem to react to these inputs with ice-age speed. When the bubble was inflating, it took over a year of declining sales and increasing inventory before prices peaked and began to fall, and although on-market inven- tory has been declining since mid-2008, the slow recovery of sales along with a shift in psychology away from home ownership has delayed the turnaround of prices (and this isn‟t even considering all the government intervention!) As Calculated Risk recently pointed out, home prices are not far above their historic lows, although it‟s a pretty safe bet that we‟ll have a bit of an overshoot on the downside, followed by at least a few years of flat prices (which is down when inflation is factored in). Foreclosures are still quite high and will likely take three to five years to work through, but growth in both the beginning and the end of the foreclosure pipeline seem to be backing off their 2010 peaks. The worst seems to be behind us on that front. Every region has different dynamics, but with generally lousy selection, slowly recovering sales, and year‟s worth of foreclosures to work through, where does that put us today, and through the end of this year? Barring some unforeseen economic events, some believe that home prices will likely stop falling by this time next year, while others expect prices to end the year higher than where they are today. Sales will continue their slow increases, foreclosures will be slowly but surely absorbed (many by all-cash investors), and hopefully, non- distressed sellers will begin to return to the market. In the end, nobody is able to perfectly time the market, and no matter where anyone thinks the bottom is, they‟re probably wrong. Is buying a home today less risky than it was five years ago? Absolutely. Will buying a home ever be a risk-free proposition? Unfortunately, no.

Did You Know………that while gloom and doom about the housing market dominate the news, it may be overlooked that it might be a great time to buy! In a recent survey, 64% of respondents say that they think it‟s a good time to buy a house. We all know the average median house price is down almost 10% from its peak in 2007, take a closer look at the attachments to this week‟s Newsletter at when homes have been at their cheapest.


 

7 Smart Steps Every New Homeowner Should Take

7 Smart Steps Every New Homeowner Should Take

 

Antelope Valley Real Estate Experts 

RE/MAX All-Pro Presents Real Estate Tips from Investopedia

800.336.3629 Bringing families Home Serving the Entire Antelope Valley Since 1990 

7 Smart Steps Every New Homeowner Should Take

Turning the key in a lock that no landlord has access to, reading in a hammock in your own backyard and painting your dining room bright red – what could be more exciting than making the leap from renter to first-time homeowner? Getting swept up in all the excitement is a wonderful feeling, but some first-time homeowners lose their heads and make mistakes that can jeopardize everything they’ve worked so hard to earn.

TUTORIAL: How To Buy Your First Home

Don’t be one of those people; take a few moments to ponder these seven practical concerns that will help ensure that your first home becomes the place of luxury and financial freedom you’ve anticipated.

1. Don’t Overspend on Furniture and Remodeling 
You’ve just handed over a large portion of your life savings for a down paymentclosing costs and moving expenses. Money is tight for most first-time homeowners – not only are their savings depleted, their monthly expenses are often higher as well, thanks to the new expenses that come with home ownership, such as water and trash bills, and extra insurance.

 

Everyone wants to personalize a new home and upgrade what may have been temporary apartment furniture for something nicer, but don’t go on a massive spending spree to improve everything all at once. Just as important as getting your first home is staying in it, and as nice as solid maple kitchen cabinets might be, they aren’t worth jeopardizing your new status as a homeowner. Give yourself time to adjust to the expenses of home ownership and rebuild your savings – the cabinets will still be waiting for you when you can more comfortably afford them. (For further reading, see To Rent Or Buy? The Financial Issues.)

2. Don’t Ignore Important Maintenance Items
One of the new expenses that accompanies home ownership is making repairs. There is no landlord to call if your roof is leaking or your toilet is clogged (on the plus side, there is also no rent increase notice taped to your door on a random Friday afternoon when you were looking forward to a nice weekend). While you should exercise restraint in purchasing the nonessentials, you shouldn’t neglect any problem that puts you in danger or could get worse over time, turning a relatively small problem into a much larger and costlier one. (For tips on how to spot problems with a potential home before you buy it, see Do You Need A Home Inspector?)

3. Hire Qualified Contractors
Don’t try to save money by making improvements and repairs yourself that you aren’t qualified to make. This may seem to contradict the first point slightly, but it really doesn’t. Your home is both the place where you live and an investment, and it deserves the same level of care and attention you would give to anything else you value highly. There’s nothing wrong with painting the walls yourself, but if there’s no wiring for an electric opener in your garage, don’t cut a hole in the wall and start playing with copper. Hiring professionals to do work you don’t know how to do is the best way to keep your home in top condition and avoid injuring – or even killing – yourself. (For tips on finding qualified workers, read The Better Business Bureau’s Tool Belt For Saving Cash. For home improvement projects most homeowners can tackle themselves, read Do-It-Yourself Projects To Boost Home Value.)

4. Get Help with Your Tax Return 
Even if you hate the thought of spending money on an accountant when you normally do your returns yourself, and even if you’re already feeling broke from buying that house, hiring an accountant to make sure you complete your return correctly and maximize your refund is a good idea. Home ownership significantly changes most people’s tax situations and the deductions they are eligible to claim. Just getting your taxes professionally done for one year can give you a template to use in future years if you want to continue doing your taxes yourself. (For more insight, see Crunch Numbers To Find The Ideal Accountant and Give Your Taxes Some Credit.)

5. Keep Receipts for Home Improvements
When you sell your home, you can use these costs to increase your home’s basis, which can help you to maximize your tax-free earnings on the sale of your home. In 2008, you could have earned up to $250,000 tax free from the sale of your home if it was your primary residence and you had lived there for at least two of five years before you sold it. This assumes that you owned the home alone – if you owned it jointly with a spouse, you could each have gotten the $250,000 exemption. (To learn more about how having a spouse can affect your tax return, read The Tax Benefits Of Having A Spouse and Happily Married? File Separately!)

 

Let’s say you purchased your home for $150,000 and were able to sell it for $450,000. You’ve also made $20,000 in home improvements over the years you’ve lived in the home. If you haven’t saved your receipts, your basis in the home, or the amount you originally paid for your investment, is $150,000. You take your $250,000 exemption on the proceeds and are left with $50,000 of taxable income on the sale of your home. However, if you saved all $20,000 of your receipts, your basis would be $170,000 and you would only pay taxes on $30,000. That’s a huge savings: in this case, it would be $5,000 if your marginal tax rate is 25%. (For more insight, see Is it true that you can sell your home and not pay capital gains tax?)

6. Don’t Confuse a Repair with an Improvement
Unfortunately, not all home expenses are treated equally for the purpose of determining your home’s basis. The IRS considers repairs to be part and parcel of home ownership -something that preserves the home’s original value, but does not enhance its value. This may not always seem true. For example, if you bought a foreclosure and had to fix a lot of broken stuff, the home is obviously worth more after you fix those items, but the IRS doesn’t care – you did get a discount on the purchase price because of those unmade repairs, after all. It’s only improvements, like replacing the roof or adding central air conditioning, which will help decrease your future tax bill when you sell your home.

 

For gray areas (like remodeling your bathroom because you had to bust open the wall to repair some old, failed plumbing), consult IRS Publication 530 and/or your accountant. And on a non-tax-related note, don’t trick yourself into thinking it’s OK to spend money on something because it’s a necessary “repair” when in truth it’s really a fun improvement. That isn’t good for your finances. (To find out which improvements can add the most value to your home, read Add Value To Real Estate Investments.)

7. Get Properly Insured
Your mortgage lender requires you not only to purchase homeowners insurance, but also to purchase enough to fully replace the property in the event of a total loss. But that’s not the only insurance coverage you need as a homeowner. If you share your home with anyone who relies on your income to help pay the mortgage, whether it’s a girlfriend or a child, you’ll need life insurance with that person named as a beneficiary so he or she won’t lose the house if you die unexpectedly. Similarly, you’ll want to have disability-income insurance to replace your income if you become so disabled that you can’t work. (For ideas on how to save money on your home insurance, readInsurance Tips For Homeowners.)

 

Also, once you own a home, you have more to lose in the event of a lawsuit, so you’ll want to make sure you have excellent car insurance coverage. If you are self-employed as a sole proprietor, you may want to consider forming a corporation for greater legal protection of your assets. You may also want to purchase an umbrella policy that picks up where your other policies leave off. If you are found at fault in a car accident with a judgment of $1 million against you and your car insurance only covers the first $250,000, an umbrella policy can pick up the rest of the slack. These policies are usually issued in the millions. (For more on car insurance, see Shopping For Car Insurance.)

Bottom Line
With the great freedom of owning your own home comes great responsibilities. You must manage your finances well enough to keep the home and maintain the home’s condition well enough to protect your investment and keep your family safe. Don’t let the excitement of being a new homeowner lead you to bad decisions or oversights that jeopardize your financial or physical security. 

 

For further reading, see To Rent Or Buy? There’s More To It Than Money.

  

 

Amy Fontinelle is a financial journalist and editor for a variety of websites, public policy organizations, and book publishers. She has written hundreds of published articles and blog posts on topics including budgeting, credit management, real estate and investing. Her articles have been featured on the homepage of Yahoo! and on Yahoo! Finance, Forbes.com, SFGate.com and numerous local news websites.

 

Read more: http://www.investopedia.com/articles/mortgages-real-estate/09/new-homeowner-tips.asp#ixzz1T9Kf8Wwr

 

800.336.3629 Bringing families Home Serving the Entire Antelope Valley Since 1990 

Home Buyers LOOK Here!

Home Buyers LOOK Here!


To finalize the sale of the home a neutral, third party (escrow agent) is engaged to assure the transaction will close properly and on time. The escrow holder insures that all terms and conditions of the seller’s and buyer’s agreement are met prior to the sale being finalized, including receiving funds and documents, completing required forms, and obtaining the release documents for any loans or liens that have been paid off with the transaction, assuring you clear title to your property before the purchase price is fully paid.

An escrow is:

  • an arrangement made under contractual provisions between transacting parties, whereby an independent trusted third party receives and disburses money and/or documents for the transacting parties, with the timing of such disbursement by the third party dependent on the fulfillment of contractually-agreed conditions by the transacting parties, or
  • an account established by a broker, under the provisions of license law, for the purpose of holding funds on behalf of the broker’s principal or some other person until the consummation or termination of a transaction; or,
  • a trust account held in the borrower’s name to pay obligations such as property taxes and insurance premiums.

The word derives from the Old French word escroue, meaning a scrap of paper or a roll of parchment; this indicated the deed that a third party held until a transaction was completed.



Escrow Process

The documentation the escrow holder may be collecting includes:

• Loan documents

• Tax statements

• Fire and other insurance policies

• Title insurance policies

• Terms of sale and any seller-assisted financing

• Requests for payment for various services to be paid out of escrow funds

Upon completion of all instructions of the escrow, closing can take place. All outstanding payments and fees are collected and paid at this time (covering expenses such as title insurance, inspections, real estate commissions). Title to the property is then transferred to the buyer and appropriate title insurance is issued as outlined in the escrow instructions. At the close of escrow, payment of funds shall be made in an acceptable form to the escrow. As your real estate agent, I’ll inform you of the acceptable form.

The Escrow holder will:

• Prepare escrow instructions

• Request title search

• Comply with lender’s requirements as specified in the escrow agreement

• Receive funds from the buyer

• Prorate interest, tax, insurance, and other payments according to the instructions

• Record deeds and other documents as instructed

• Request title insurance policy

• Close escrow when all instructions of seller and buyer have been met

• Disburse funds and finalize instructions

Our Escrow Partner

You can feel more secure with an independent escrow company. Unlike banks, title companies and brokerages, an independent firm must comply with stricter operational and CPA auditing, bonding requirements, financial liquidity requirements and trust fund insurance guidelines.

For more information contact our partner:

EscrowOne, Inc. A Department of Corporations Escrow Company

www.escrowoneonline.com 661-945-6991      

Getting In Is Easy-Buy NOW!-Expert Antelope Valley Real Estate Advice

 Getting In Is Easy-Buy NOW!-Expert Antelope Valley Real Estate Advice

OK. Last week we talked about renting and the expenses going out to meet your monthly rent amount. This week we will move on to the benefits of home-ownership. a MUCH more fun topic!

 

Getting In Is Easy

  • Convenient Down Payment Options Still Exist
  • $8,000 Tax Credit for First-Time Homebuyers
  • Home Prices Very Affordable
  • Low Interest Rates
  • Payments Similar to
  • Average Rent Over 5 Years




Now For The Good Part!

After 5 years:
Mortgage Balance Declines
Increased Net Worth
Plus Tax Benefits!



Your Uncle Wants to Help

  • If Cash Is Tight –
  • Uncle Sam Can Help
  • Don’t Wait For Refund Bucks: Increase Your Take Home Pay
  • Quit Lending Money to Uncle Sam Interest Free
  • Check Out IRS Calculator To Do It Right

 

 



Tax Advantage

Assuming a $300,000 loan:

P&I  $1,798.65

Taxes            312.50

Insurance       100.00

  Total  $2,211.15

Tax deduction for five years:

Interest $87,082 + Taxes $18,750= $105,832

Using a 25% tax bracket   $26,458

Monthly  $     441

  Mortgage Payment $2211 – 441 = $1,770

  Average Rent (five years)              $1,658

  Payment difference                        $   112

  Plus… Possible $8,000 Tax Credit for FTHB (First Time Home Buyer)!




Got Rent?

Your Landlord Loves You

 

Wealth Created by Home Ownership

 

Buying a home is a Big Step…But a Step in the Right Direction!





If YOU or someone you know is interested in starting the home buying process, feel free to contact RE/MAX All-Pro; it’s not just real estate, it’s a relationship!

-Antelope Valley Real Estate-It Still Makes Sense to Buy VS Rent

Buying a home can be scary, overwhelming, thrilling, exasperating, and inspiring all at once, but the feeling of

home-ownership trumps them all.

Which is why;

It Still Makes Sense To BUY VS RENT!

Why?You ask.

To show you the benefits of owning your very own home, i will be doing a 2 part blog series. The first blog post will be about renting statistics and where YOUR money goes, and the second part will be the essential Information on the benefits and perks of home-ownershipAn owner-occupier (also known as an owner-occupant or home owner) is a person who lives in and owns the same home. It is a type of housing tenure. The home of the owner-occupier may be, for example, a houseapartmentcondominium, or a housing cooperative. The immovable property of the owner, which includes the home and the land upon which it sits, is known as the real estate.



FIRST lets talk about a couple fun rental facts!

WHO’S RENTING!?

Nearly 1/3 of all households rent

Baby boomer children-Echo boomers



With that being said, let’s take a closer look at home prices

  • Despite National Headlines,

Home Prices Tend to be Localized

  • Housing Prices Are Tied to Job Market
  • If Local Job Market is Weak –

Local Area Prices May Be Lower As Well




Now for the fun facts about RENTING!

Renting is an agreement where a payment is made for the temporary use of a good, service or property owned by another. A gross lease is when the tenant pays a flat rental amount and the landlordpays for all property charges regularly incurred by the ownership from landowners. This system is used in case of washing machines to handbags and jewelry.

Renting Costs a Lot – A Whole Lot!

Now remember, these are ONLY assumptions: 

  • $1,500 Monthly Rent Payments
  • Landlord Increases Rent 5% Yearly
  • Five-Year Costs = Nearly $100,000!
  • Costs to Improve…GONE!
  • Oh yeah, your landlord thanks you
  • Overall Costs…Too Painful to Look At

 



Renters! FIGHT BACK! Show Your Landlord The Money 

 Assuming a 5% increase per year:

  •   Year       Monthly Rent     Annual Rent
  •     1            $1,500                $18,000
  •     2            $1,575                $18,900
  •     3            $1,654                $19,848
  •     4            $1,737                $20,844
  •     5            $1,824                $21,888
  •     Total                                 $99,480

Average monthly rent over five years $1,658

Whew! Tough information to read right? The good thing is, the bad is out of the way! Start the steps to your future of home-ownership and join me next week to get the essential Information on the benefits and perks of home-ownership.

If you or someone you know is ready to take the step towards buying a home, give RE/MAX All-Pro a call at 661.945.9461.